Comfort & Lighting - Chile | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$13.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.14%, resulting in a projected market volume of US$23.6m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 1.2m users by 2029.
Household penetration will be 10.5% in 2024 and is expected to hit 27.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$29.71.

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 Chile has been experiencing steady growth in recent years, driven by customer preferences for energy-efficient and sustainable solutions. With increasing awareness of the environmental impact of traditional lighting and heating systems, customers in Chile are opting for more eco-friendly alternatives.

Customer preferences: Customers in Chile are increasingly demanding energy-efficient lighting and heating solutions. This is driven by a growing awareness of the need to reduce energy consumption and carbon emissions. LED lighting, in particular, has gained popularity due to its long lifespan and low energy consumption. Customers are also looking for smart lighting solutions that can be controlled remotely, providing convenience and energy savings.

Trends in the market: One of the key trends in the Comfort & Lighting market in Chile is the adoption of LED lighting. LED lights are known for their energy efficiency, long lifespan, and low maintenance costs. As a result, they are being widely used in residential, commercial, and industrial settings. The market for LED lighting is expected to continue growing as customers realize the benefits of this technology. Another trend in the market is the integration of smart lighting systems. These systems allow customers to control their lighting remotely, adjust brightness levels, and even change colors. Smart lighting systems not only provide convenience but also help in reducing energy consumption by allowing users to turn off lights when not in use. This trend is expected to gain momentum as more customers embrace smart home technology.

Local special circumstances: Chile has a unique geographical location that allows it to benefit from abundant natural resources, such as solar energy. As a result, solar-powered lighting solutions are gaining popularity in the country. Solar street lights, in particular, are being widely used in urban areas and remote locations where grid electricity is not available. The government of Chile has also been promoting the use of renewable energy sources, further driving the adoption of solar-powered lighting solutions.

Underlying macroeconomic factors: The Comfort & Lighting market in Chile is influenced by several macroeconomic factors. The country has a stable economy and a growing middle class, which has led to increased consumer spending. As a result, customers have more disposable income to invest in energy-efficient lighting and heating solutions. Furthermore, the government of Chile has implemented policies and incentives to promote energy efficiency and sustainability. This includes tax incentives for businesses and individuals who invest in energy-efficient technologies. These policies have created a favorable environment for the Comfort & Lighting market to thrive. In conclusion, the Comfort & Lighting market in Chile is experiencing growth due to customer preferences for energy-efficient and sustainable solutions. LED lighting, smart lighting systems, and solar-powered lighting solutions are some of the key trends in the market. The unique geographical location of Chile and the government's focus on energy efficiency have also contributed to the growth of the market. With the increasing demand for eco-friendly solutions, the Comfort & Lighting market in Chile is expected to continue expanding 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.