Comfort & Lighting - Greece | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$14.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.04%, resulting in a projected market volume of US$28.1m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 646.7k users by 2029.
Household penetration will be 6.1% in 2024 and is expected to hit 16.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$59.93.

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 Greece has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Greece have shifted towards more energy-efficient and sustainable lighting solutions.

Consumers are increasingly concerned about the environmental impact of their choices and are actively seeking out products that can help them reduce their energy consumption and carbon footprint. This has led to a growing 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 customizable features and smart controls, allowing them to create the desired ambiance in their homes or workplaces.

Trends in the Comfort & Lighting market in Greece are closely aligned with global and regional market trends. One of the key trends is the integration of smart technology into lighting systems. Smart lighting solutions, which can be controlled remotely through smartphones or voice assistants, have gained popularity among consumers.

These systems offer convenience, energy efficiency, and the ability to create personalized lighting experiences. Another trend is the growing adoption of human-centric lighting, which aims to mimic natural light patterns to enhance well-being and productivity. This trend is driven by the increasing awareness of the impact of lighting on human health and the desire to create healthier indoor environments.

Local special circumstances in Greece have also contributed to the development of the Comfort & Lighting market. The country has a rich cultural heritage and a strong focus on aesthetics, which has influenced customer preferences for lighting solutions. Greek consumers often prioritize products that combine functionality with design, seeking out lighting fixtures that can enhance the overall aesthetic appeal of their homes or commercial spaces.

This has created opportunities for manufacturers and designers to offer innovative and visually appealing lighting solutions that cater to these specific preferences. Underlying macroeconomic factors have also played a role in the growth of the Comfort & Lighting market in Greece. The country has experienced economic recovery in recent years, leading to increased consumer spending power.

As a result, consumers are more willing to invest in higher-quality and more expensive lighting products. Additionally, government initiatives and regulations promoting energy efficiency and sustainability have also contributed to the market growth, as they encourage consumers to choose energy-efficient lighting solutions and provide incentives for businesses to adopt sustainable practices. In conclusion, the Comfort & Lighting market in Greece is developing in response to 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, and the focus on aesthetics are driving the market growth. With the economic recovery and government support for energy efficiency, the market is expected to continue to expand in the coming years.

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.