Comfort & Lighting - EAEU | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$169.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.50%, resulting in a projected market volume of US$305.6m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 12.6m users by 2029.
Household penetration will be 9.7% in 2024 and is expected to hit 27.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$37.99.

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 EAEU is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Comfort & Lighting market in EAEU are shifting towards more energy-efficient and sustainable products.

Consumers are becoming increasingly aware of the environmental impact of their choices and are seeking products that are both stylish and eco-friendly. This has led to a rise in demand for LED lighting solutions, which are known for their energy efficiency and long lifespan. Additionally, customers are also looking for smart lighting systems that can be controlled remotely and offer advanced features such as dimming and color-changing options.

Trends in the Comfort & Lighting market in EAEU are also contributing to its growth. One of the key trends is the integration of lighting and technology. Smart lighting systems that can be controlled through smartphones or voice assistants are gaining popularity, as they offer convenience and customization options.

Another trend is the use of lighting as a design element. Lighting fixtures are no longer seen as purely functional, but as decorative pieces that can enhance the overall aesthetic of a space. This has led to an increase in demand for stylish and innovative lighting designs.

Local special circumstances in the EAEU region are also influencing the development of the Comfort & Lighting market. The region has a diverse climate, with extreme temperatures in some areas. This has led to a demand for lighting solutions that can withstand harsh weather conditions and provide adequate illumination in different environments.

Additionally, the EAEU region has a rich cultural heritage, and there is a growing interest in incorporating traditional and local design elements into lighting fixtures. This has created opportunities for local artisans and designers to showcase their skills and cater to the unique preferences of the local market. Underlying macroeconomic factors are also playing a role in the growth of the Comfort & Lighting market in EAEU.

The region has been experiencing economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers are willing to invest in high-quality lighting products that offer both functionality and aesthetics. Furthermore, government initiatives promoting energy efficiency and sustainability are also driving the demand for energy-efficient lighting solutions.

In conclusion, the Comfort & Lighting market in EAEU is witnessing significant growth and development due to customer preferences for energy-efficient and sustainable products, trends in the market such as the integration of lighting and technology, local special circumstances such as diverse climate and cultural heritage, and underlying macroeconomic factors such as economic growth and government initiatives. This presents opportunities for companies in the Comfort & Lighting industry to tap into the growing market and cater to the evolving needs of customers in the EAEU region.

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.