Definition:
The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring, and regulation of functions in a private household.
The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation.
Devices whose primary function is not the automation or remote control of household equipment, e.g., smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.
Structure:
Smart Home is segmented into six main markets:
Additional Information:
The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Samsung, LG, Amazon, Google, Ring, and Bosch, renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
The Smart Home market in Burundi is experiencing a gradual but steady growth, driven by increasing consumer awareness and adoption of smart technologies in households.
Customer preferences: Customers in Burundi are showing a growing interest in smart home devices that offer convenience, energy efficiency, and security. This trend mirrors the global shift towards connected homes, where consumers seek automation and control over various aspects of their living spaces.
Trends in the market: One notable trend in the Burundian Smart Home market is the preference for affordable and easy-to-use smart devices. As the market is still in its nascent stage, consumers are gravitating towards simple solutions that enhance their daily lives without being overly complex. Additionally, there is a rising demand for smart home products that are compatible with mobile devices, allowing users to manage their homes remotely.
Local special circumstances: Burundi's Smart Home market is influenced by the country's infrastructure development and access to reliable internet connectivity. As the digital infrastructure improves and becomes more widespread, the adoption of smart home technologies is expected to increase. Moreover, the market is also shaped by factors such as consumer disposable income levels and willingness to invest in smart solutions.
Underlying macroeconomic factors: The growth of the Smart Home market in Burundi is also supported by macroeconomic factors such as urbanization, population growth, and increasing disposable incomes. As more households move towards urban areas and the middle-class expands, there is a greater propensity for consumers to invest in smart home devices. Additionally, the government's focus on improving technology and digitalization in the country is creating a conducive environment for the development of the Smart Home market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. 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 innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.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 once a year, in case market dynamics change we do more frequent updates.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights