Smart Home - Chad

  • Chad
  • Revenue in the Smart Home market is projected to reach US$7.9m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.04%, resulting in a projected market volume of US$14.0m by 2029.
  • Household penetration will be 8.9% in 2024 and is expected to hit 12.0% by 2029.
  • The average revenue per installed Smart Home currently is expected to amount to US$26.91.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
 
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Analyst Opinion

The Smart Home market in Chad is experiencing a gradual but steady growth, driven by increasing consumer interest in technology and convenience.

Customer preferences:
Chadian consumers are showing a growing interest in smart home devices that offer convenience, energy efficiency, and security. The demand for products such as smart thermostats, lighting systems, and security cameras is on the rise as more households seek to modernize their living spaces.

Trends in the market:
One of the notable trends in the Smart Home market in Chad is the increasing availability and affordability of smart devices. As technology becomes more accessible, more consumers are embracing the idea of a connected home. Additionally, the growing awareness of the benefits of smart home technology, such as cost savings and enhanced security, is driving adoption in the market.

Local special circumstances:
Chad's Smart Home market is also influenced by its unique socio-economic factors. The country's urban population is gradually increasing, leading to a higher demand for housing solutions that offer modern amenities. As urbanization continues, the demand for smart home devices is expected to grow further, especially among the younger, tech-savvy population.

Underlying macroeconomic factors:
The gradual economic development in Chad is also playing a role in the growth of the Smart Home market. As disposable incomes increase, more households have the financial capacity to invest in smart home devices. Additionally, government initiatives to promote technology adoption and infrastructure development are creating a conducive environment for the expansion of the Smart Home market in the country.

Methodology

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.

Overview

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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