Smart Remotes - Nigeria | Statista Market Forecast

In 2024, the revenue Nigeria's Smart Remotes market reaches US$1.5m.
It is projected to grow annually by 11.65% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue, with US$82.1m in 2024.
In terms of per capita revenue, in Nigeria generates US$0.01 per person in 2024.
By 2029, the volume in the Smart Remotes market is expected to reach 74.8k pieces.
Additionally, there is an anticipated volume growth of 18.2% in 2025.0.
The average volume per person Nigeria's Smart Remotes market is expected to be 0.0pieces in 2024.
In Nigeria, the market for smart remotes is growing rapidly as consumers seek convenient and advanced control over their home entertainment systems.

Definition:

Smart remotes are devices that are used to control multiple devices such as TV, soundbar, Blu-ray player, and gaming console through a single interface. Products in this category include traditional remotes with added smart functionality such as voice control, mobile app integration, and the ability to control smart home devices. The technology behind smart remotes involves a combination of infrared and radio frequency (RF) signals, as well as Wi-Fi and Bluetooth connectivity. Some of the latest smart remotes also incorporate advanced features such as gesture control, and artificial intelligence (AI) to provide an intuitive and seamless user experience.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Logitech, Samsung, Philips, and LG. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Voice-controlled remotes with physical buttons

Smart remotes with a display or touchscreen

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.