Comfort & Lighting - Croatia

Croatia

Highlights

Revenue in the Comfort & Lighting market is projected to reach US$5.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.96%, resulting in a projected market volume of US$14.6m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 200.1k users by 2029.
Household penetration will be 7.8% in 2024 and is expected to hit 14.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$49.98.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Comfort & Lighting market in Croatia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Comfort & Lighting market in Croatia have shifted towards energy-efficient and sustainable solutions.

Consumers are increasingly seeking products that not only provide comfort but also contribute to reducing their carbon footprint. This trend is in line with the global movement towards environmental consciousness and the growing awareness of the importance of energy conservation. As a result, there is a growing demand for smart lighting systems, which offer energy-saving features and can be controlled remotely through smartphones or voice assistants.

Additionally, there is an increasing interest in ergonomic furniture and lighting solutions that promote well-being and productivity, reflecting the growing focus on health and wellness in society. Trends in the Comfort & Lighting market in Croatia are influenced by global and regional developments. One notable trend is the integration of smart technology into lighting systems.

This allows for greater control and customization of lighting settings, enhancing the overall user experience. Another trend is the adoption of LED lighting, which offers energy efficiency and long lifespan compared to traditional incandescent bulbs. LED lighting is also more environmentally friendly as it does not contain harmful substances such as mercury.

Furthermore, there is a growing trend towards the use of natural and organic materials in furniture and lighting design, reflecting the desire for sustainable and eco-friendly products. Local special circumstances in Croatia also contribute to the development of the Comfort & Lighting market. The country's strong tourism industry, particularly in coastal areas, has led to an increased demand for high-quality comfort and lighting solutions in hotels, resorts, and other hospitality establishments.

This presents opportunities for market players to cater to the specific needs and preferences of tourists, such as creating ambient lighting and cozy atmospheres. Additionally, Croatia's growing urbanization and infrastructure development projects, including commercial buildings and residential complexes, drive the demand for modern and efficient comfort and lighting solutions. Underlying macroeconomic factors play a significant role in the growth of the Comfort & Lighting market in Croatia.

The country's stable economic performance and rising disposable incomes have increased consumer spending power, enabling individuals and businesses to invest in higher-quality comfort and lighting products. Furthermore, government initiatives and regulations promoting energy efficiency and sustainability have encouraged the adoption of eco-friendly lighting solutions. These factors create a favorable market environment for both domestic and international players in the Comfort & Lighting industry in Croatia.

In conclusion, the Comfort & Lighting market in Croatia is witnessing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards energy-efficient and sustainable solutions, the integration of smart technology, and the use of natural materials are driving the market forward. Additionally, Croatia's strong tourism industry and infrastructure development projects contribute to the demand for high-quality comfort and lighting solutions.

Overall, the market is poised for further expansion as consumers and businesses prioritize comfort, sustainability, and innovation in their purchasing decisions.

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.