Comfort & Lighting - Central & Western Europe

Revenue in the Comfort & Lighting market is projected to reach US$3.6bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.57%, resulting in a projected market volume of US$5.9bn by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 126.7m users by 2029.
Household penetration will be 25.1% in 2024 and is expected to hit 85.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$96.53.

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 Central & Western Europe has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards smart and energy-efficient solutions.

Consumers are increasingly looking for products that offer convenience, automation, and energy savings. This has led to a growing demand for smart lighting systems, which can be controlled remotely and offer features such as dimming and color-changing options. Additionally, there is a rising interest in comfort solutions that enhance the overall well-being of individuals, such as adjustable temperature control and noise reduction systems.

One of the key trends in the market is the integration of comfort and lighting systems with home automation technologies. This allows consumers to control various aspects of their homes, including lighting, heating, and security, through a single interface. The increasing popularity of voice-controlled assistants, such as Amazon Alexa and Google Home, has further accelerated the adoption of these integrated systems.

Another trend in the market is the growing emphasis on energy efficiency and sustainability. Governments in Central & Western Europe have implemented strict regulations and standards to promote energy-efficient lighting solutions. This has led to a shift towards LED lighting, which is more energy-efficient and has a longer lifespan compared to traditional incandescent bulbs.

Additionally, there is a rising demand for lighting solutions that are compatible with renewable energy sources, such as solar power. Local special circumstances in the region also contribute to the growth of the Comfort & Lighting market. Central & Western Europe is known for its high quality of living and strong focus on innovation and technology.

This creates a favorable environment for the adoption of smart and advanced comfort and lighting solutions. Furthermore, the region has a well-developed infrastructure and a high level of disposable income, which enables consumers to invest in these products. Underlying macroeconomic factors, such as population growth, urbanization, and increasing disposable income, also play a significant role in the development of the Comfort & Lighting market in Central & Western Europe.

As the population continues to grow and more people move to urban areas, the demand for comfortable and well-lit living spaces increases. Additionally, the rising disposable income allows consumers to invest in higher-quality and more advanced comfort and lighting solutions. In conclusion, the Comfort & Lighting market in Central & Western Europe is experiencing growth due to customer preferences for smart and energy-efficient solutions, the integration of comfort and lighting systems with home automation technologies, the emphasis on energy efficiency and sustainability, local special circumstances, and underlying macroeconomic factors.

This trend is expected to continue in the coming years as consumers increasingly prioritize convenience, energy savings, and well-being in their living spaces.

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.