Comfort & Lighting - Gabon | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$403.3k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.50%, resulting in a projected market volume of US$829.0k by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 24.1k users by 2029.
Household penetration will be 2.2% in 2024 and is expected to hit 4.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$33.00.

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 Gabon is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Gabon are shifting towards more energy-efficient and sustainable lighting solutions.

Consumers are becoming more conscious of their environmental impact and are seeking products that can help reduce energy consumption and carbon emissions. This has led to an increased demand for LED lighting solutions, which are known for their energy efficiency and long lifespan. Additionally, customers are also looking for lighting solutions that offer flexibility and customization options to suit their individual needs and preferences.

Trends in the Comfort & Lighting market in Gabon are also contributing to its development. One of the key trends is the integration of smart technology into lighting systems. Smart lighting solutions allow users to control and customize their lighting settings through smartphone apps or voice commands, providing convenience and energy savings.

This trend is driven by the increasing adoption of smart home technology and the desire for seamless connectivity and automation in households. Another trend in the market is the growing popularity of decorative and designer lighting fixtures. Consumers are increasingly considering lighting as a way to enhance the aesthetics of their living spaces and express their personal style.

This has led to a rise in demand for unique and visually appealing lighting designs, including pendant lights, chandeliers, and statement lamps. In addition to customer preferences and emerging trends, local special circumstances in Gabon are also influencing the development of the Comfort & Lighting market. The country has a growing urban population and an expanding middle class, which is driving the demand for modern and high-quality lighting solutions.

Furthermore, Gabon is investing in infrastructure development, including the construction of new residential and commercial buildings, which creates opportunities for the Comfort & Lighting market to grow. Underlying macroeconomic factors also play a role in the development of the Comfort & Lighting market in Gabon. The country's stable economic growth and increasing disposable income levels are enabling consumers to spend more on home improvement and lifestyle products, including lighting.

Additionally, government initiatives and regulations promoting energy efficiency and sustainability are encouraging the adoption of energy-efficient lighting solutions. Overall, the Comfort & Lighting market in Gabon is experiencing growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards energy-efficient and sustainable lighting solutions, the integration of smart technology, the demand for decorative and designer lighting fixtures, the growing urban population, infrastructure development, and favorable economic conditions are all contributing to the positive trajectory of the market.

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.