Comfort & Lighting - Eastern Asia

Revenue in the Comfort & Lighting market is projected to reach US$2.9bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.48%, resulting in a projected market volume of US$5.3bn by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 281.3m users by 2029.
Household penetration will be 14.4% in 2024 and is expected to hit 48.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$35.43.

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 Eastern Asia has been experiencing significant growth in recent years. Customer preferences for comfortable and well-lit spaces, along with the increasing focus on energy efficiency, have been driving the demand for comfort and lighting products in the region.

Additionally, local special circumstances and underlying macroeconomic factors have also played a role in shaping the market trends. Customer preferences in Eastern Asia have shifted towards creating comfortable and well-lit spaces. With the rising standard of living and increased disposable income, consumers are increasingly looking for products that enhance their comfort and well-being.

This has led to a growing demand for products such as ergonomic furniture, temperature control systems, and smart lighting solutions. Additionally, the emphasis on energy efficiency has also influenced customer preferences, with a growing demand for energy-saving lighting solutions and sustainable materials. Trends in the market reflect these customer preferences.

The market has witnessed a surge in the adoption of smart lighting solutions, which offer advanced features such as remote control, automated scheduling, and energy monitoring. These solutions not only provide convenience to consumers but also contribute to energy savings. Furthermore, there has been a growing demand for ergonomic furniture and lighting fixtures that promote comfort and well-being in the workplace and residential spaces.

This trend is driven by the increasing awareness of the importance of a healthy and productive environment. Local special circumstances in Eastern Asia have also contributed to the development of the Comfort & Lighting market. Rapid urbanization and population growth in countries like China and Japan have led to a higher demand for comfortable and well-lit living spaces.

Additionally, the region's aging population has created a need for products that cater to the specific needs of elderly individuals, such as adjustable lighting and ergonomic furniture. These factors have created a favorable market environment for comfort and lighting products. Underlying macroeconomic factors have also played a role in the growth of the Comfort & Lighting market in Eastern Asia.

The region's strong economic growth has resulted in increased consumer spending power, allowing individuals to invest in products that enhance their comfort and well-being. Moreover, government initiatives promoting energy efficiency and sustainability have further stimulated the demand for comfort and lighting products. These factors, combined with the region's favorable business environment, have attracted both domestic and international players to invest in the market.

In conclusion, the Comfort & Lighting market in Eastern Asia is experiencing significant growth due to customer preferences for comfortable and well-lit spaces, along with the increasing focus on energy efficiency. The market trends reflect these preferences, with a growing demand for smart lighting solutions and ergonomic furniture. Local special circumstances, such as rapid urbanization and an aging population, have also contributed to the market's development.

Furthermore, underlying macroeconomic factors, such as strong economic growth and government initiatives, have stimulated the demand for comfort and lighting products in the 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.