Comfort & Lighting - Argentina | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$10.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -5.76%, resulting in a projected market volume of US$7.4m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 6.4m users by 2029.
Household penetration will be 14.4% in 2024 and is expected to hit 58.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$6.49.

Definition:

Comfort & Lighting market includes devices for the improvement of the living atmosphere. These are devices such as sensors and actuators (e.g., door and window sensors, shutters) as well as connected and remote controllable light sources (smart bulbs) or garage door controls.
Programmable or controllable power sockets are not included (see Control & Connectivity).

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 Philips, Google, Ring Samsung, and other brands 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.

Digitally connected and controlled devices for living atmosphere improvement
Smart lighting/bulbs
Window/door sensors (e.g., Ring Alarm Pack), shading devices (e.g., Lutron Caséta), garage door controls (e.g., Meross Smart WiFi Garage Door Opener)

Control buttons, gateways/hubs
Smart TVs
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Comfort & Lighting market in Argentina has been experiencing significant growth in recent years. Customer preferences for comfortable and well-lit spaces, along with the increasing focus on energy efficiency, have been driving this growth.

Additionally, local special circumstances and underlying macroeconomic factors have played a role in shaping the market. Customer preferences in Argentina have shifted towards creating comfortable living and working spaces. Consumers are increasingly looking for products and solutions that enhance their overall comfort, such as ergonomic furniture, temperature control systems, and soundproofing materials.

In addition, there is a growing demand for lighting solutions that provide optimal illumination and enhance the ambiance of a space. This customer preference for comfort and lighting has fueled the growth of the market. Trends in the market reflect the global focus on energy efficiency and sustainability.

Consumers in Argentina are increasingly aware of the environmental impact of their choices and are seeking energy-efficient products and solutions. This has led to a rise in the adoption of LED lighting systems, which offer higher energy efficiency and longer lifespans compared to traditional lighting options. The market has also witnessed an increase in the use of smart lighting systems, which allow users to control and customize their lighting settings, further enhancing energy efficiency.

Local special circumstances have also influenced the development of the Comfort & Lighting market in Argentina. The country has a diverse climate, with regions experiencing extreme temperatures and varying levels of natural light. This has led to a higher demand for heating, ventilation, and air conditioning (HVAC) systems to ensure comfortable indoor temperatures throughout the year.

Additionally, the use of natural light in buildings has gained popularity, leading to the incorporation of large windows and skylights in architectural designs. Underlying macroeconomic factors have played a role in shaping the Comfort & Lighting market in Argentina. Economic stability and growth have led to increased disposable income, allowing consumers to invest in products and solutions that enhance their comfort and well-being.

Additionally, government initiatives and incentives promoting energy efficiency have encouraged the adoption of energy-efficient lighting systems. The market has also benefited from the growth of the construction industry, as new residential and commercial projects incorporate comfort and lighting solutions into their designs. In conclusion, the Comfort & Lighting market in Argentina is experiencing growth due to customer preferences for comfortable and well-lit spaces, the global focus on energy efficiency, local special circumstances, and underlying macroeconomic factors.

As consumers continue to prioritize comfort and energy efficiency, the market is expected to further expand in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.