Comfort & Lighting - Cameroon | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$4.1m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.69%, resulting in a projected market volume of US$8.2m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 222.7k users by 2029.
Household penetration will be 2.1% in 2024 and is expected to hit 3.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$34.83.

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 Cameroon is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Comfort & Lighting market in Cameroon are shifting towards more energy-efficient and sustainable solutions.

Consumers are increasingly looking for products that not only provide comfort and lighting but also help reduce energy consumption and carbon footprint. This change in preference can be attributed to growing awareness about environmental issues and the need for sustainable living. Trends in the market indicate a growing demand for smart lighting solutions in Cameroon.

Smart lighting offers various benefits such as energy efficiency, convenience, and customization options. With the increasing adoption of smart home technology, consumers are seeking lighting solutions that can be controlled and automated through smartphones or voice assistants. This trend is expected to drive the growth of the Comfort & Lighting market in Cameroon.

Another trend in the market is the integration of lighting with other home automation systems. Consumers are looking for seamless integration of lighting with security systems, entertainment systems, and other smart devices. This integration allows for enhanced convenience and control over the lighting environment, further driving the demand for Comfort & Lighting products in Cameroon.

Local special circumstances in Cameroon, such as frequent power outages and unreliable electricity supply, also contribute to the development of the Comfort & Lighting market. In such circumstances, consumers are more likely to invest in alternative lighting solutions such as solar-powered lights or rechargeable battery-operated lights. These products provide a reliable source of lighting during power outages and offer long-term cost savings.

Underlying macroeconomic factors, such as population growth, urbanization, and increasing disposable income, are playing a significant role in the development of the Comfort & Lighting market in Cameroon. As the population continues to grow and more people move to urban areas, the demand for comfortable and well-lit living spaces increases. Additionally, rising disposable income allows consumers to invest in higher-quality and more advanced Comfort & Lighting products.

In conclusion, the Comfort & Lighting market in Cameroon is experiencing growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards energy-efficient and sustainable solutions, the demand for smart lighting and integration with home automation systems, frequent power outages, and population growth are all contributing to the development 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.