Comfort & Lighting - France

France

Revenue in the Comfort & Lighting market is projected to reach US$390.1m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.38%, resulting in a projected market volume of US$610.8m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 18.5m users by 2029.
Household penetration will be 16.6% in 2024 and is expected to hit 61.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$79.63.

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Analyst Opinion

The Comfort & Lighting market in France is experiencing significant growth and development in recent years.

Customer preferences: French consumers have shown a growing interest in products that enhance comfort and lighting in their homes and workplaces. They are increasingly seeking innovative solutions that provide convenience, energy efficiency, and aesthetic appeal. This has led to a surge in demand for smart lighting systems, automated blinds, and other comfort-enhancing products. Furthermore, customers are increasingly conscious of the environmental impact of their choices, leading to a preference for sustainable and eco-friendly solutions.

Trends in the market: One of the key trends in the Comfort & Lighting market in France is the adoption of smart home technology. Smart lighting systems that can be controlled through mobile apps or voice commands have gained popularity among consumers. These systems offer convenience, energy efficiency, and the ability to create personalized lighting scenes. Additionally, there is a growing trend towards the integration of lighting with other smart home devices, such as thermostats and security systems, creating a seamless and connected living experience. Another trend in the market is the focus on energy efficiency. With increasing awareness of the environmental impact of energy consumption, consumers are seeking energy-efficient lighting solutions. LED lighting has gained significant traction in the market due to its long lifespan, low energy consumption, and cost-effectiveness. The French government has also implemented regulations and incentives to promote energy-efficient lighting, further driving the adoption of LED technology.

Local special circumstances: France has a strong cultural appreciation for design and aesthetics, which has influenced the Comfort & Lighting market. French consumers value products that not only provide functionality but also enhance the overall visual appeal of their living spaces. This has led to a demand for lighting fixtures and comfort-enhancing products that are not only functional but also stylish and aesthetically pleasing.

Underlying macroeconomic factors: The growth of the Comfort & Lighting market in France can be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to increased disposable income and consumer spending. This has created a favorable environment for the market, as consumers have more purchasing power to invest in comfort and lighting products. Furthermore, government initiatives and regulations have played a significant role in driving the market. The French government has implemented energy efficiency policies and provided incentives for the adoption of sustainable lighting solutions. These measures have encouraged consumers to invest in energy-efficient lighting products, driving the growth of the market. In conclusion, the Comfort & Lighting market in France is witnessing significant growth and development due to changing customer preferences, including the adoption of smart home technology and the focus on energy efficiency. The market is also influenced by local special circumstances, such as the cultural appreciation for design and aesthetics. Additionally, underlying macroeconomic factors, such as economic growth and government initiatives, have contributed to the market's expansion.

Methodology

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.