Comfort & Lighting - Brunei Darussalam

Revenue in the Comfort & Lighting market is projected to reach US$225.3k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.39%, resulting in a projected market volume of US$441.3k by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 9.0k users by 2029.
Household penetration will be 6.0% in 2024 and is expected to hit 10.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$44.78.

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 Brunei Darussalam is experiencing steady growth due to the increasing demand for comfortable and well-lit living spaces.

Customer preferences: Customers in Brunei Darussalam have a strong preference for comfortable and well-lit environments, both in their homes and in public spaces. They are willing to invest in high-quality lighting fixtures and comfortable furniture to enhance their living spaces. Additionally, customers are increasingly looking for energy-efficient solutions that can help reduce their electricity consumption and contribute to a more sustainable lifestyle.

Trends in the market: One of the key trends in the Comfort & Lighting market in Brunei Darussalam is the growing popularity of smart lighting systems. These systems allow customers to control and customize their lighting settings through mobile applications, providing them with convenience and flexibility. Smart lighting systems also offer energy-saving features, such as motion sensors and automatic dimming, which align with the customers' desire for energy efficiency. Another trend in the market is the increasing demand for ergonomic furniture and lighting solutions. Customers are becoming more aware of the importance of ergonomics in promoting comfort and well-being. As a result, there is a growing market for ergonomic chairs, adjustable desks, and task lighting that can be tailored to individual needs and preferences.

Local special circumstances: Brunei Darussalam has a tropical climate, with high temperatures and humidity throughout the year. This climate creates a need for efficient cooling solutions and well-designed lighting systems that can provide comfort without consuming excessive energy. Customers in Brunei Darussalam are particularly interested in energy-efficient air conditioning systems and LED lighting, which can help reduce electricity bills while maintaining a comfortable living environment.

Underlying macroeconomic factors: The steady growth of the Comfort & Lighting market in Brunei Darussalam can be attributed to several macroeconomic factors. The country has a high GDP per capita, which indicates a relatively affluent population with disposable income to spend on home improvements and lifestyle upgrades. Additionally, the government of Brunei Darussalam has been actively promoting sustainable development and energy efficiency, which has created a favorable environment for the growth of the Comfort & Lighting market. In conclusion, the Comfort & Lighting market in Brunei Darussalam is driven by customer preferences for comfortable and well-lit living spaces. The market is witnessing trends such as the adoption of smart lighting systems and ergonomic furniture. The local special circumstances, including the tropical climate, influence the demand for energy-efficient solutions. The underlying macroeconomic factors, such as high GDP per capita and government initiatives, further contribute to the growth of the 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.

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.