Comfort & Lighting - Ireland | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$11.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.85%, resulting in a projected market volume of US$21.0m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 218.3k users by 2029.
Household penetration will be 5.1% in 2024 and is expected to hit 10.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$117.30.

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 Ireland has experienced significant growth in recent years, driven by changing customer preferences and the introduction of innovative technologies.

Customer preferences: Customers in Ireland have shown a growing interest in energy-efficient and sustainable lighting solutions. This shift in preference can be attributed to increasing awareness about environmental issues and the desire to reduce energy consumption. LED lighting has become particularly popular due to its long lifespan and low energy consumption. Additionally, customers are increasingly seeking lighting solutions that offer customizable settings and smart features, allowing them to create the desired ambiance in their homes or workplaces.

Trends in the market: One of the key trends in the Comfort & Lighting market in Ireland is the integration of smart technology. Smart lighting systems, which can be controlled through mobile apps or voice commands, have gained popularity among consumers. These systems offer convenience, energy efficiency, and the ability to personalize lighting settings. The adoption of smart lighting solutions is expected to continue growing as more customers become aware of the benefits and as the technology becomes more affordable. Another trend in the market is the increasing demand for human-centric lighting. This type of lighting aims to mimic natural daylight and has been found to have positive effects on human health and well-being. As a result, there is a growing interest in lighting solutions that can adjust color temperature and intensity throughout the day to align with the body's natural circadian rhythm.

Local special circumstances: Ireland has set ambitious targets to reduce greenhouse gas emissions and increase energy efficiency. The government has implemented various initiatives and incentives to encourage the adoption of energy-efficient lighting solutions. For example, the Sustainable Energy Authority of Ireland offers grants and support for businesses and homeowners looking to upgrade their lighting systems to more energy-efficient options. This favorable policy environment has contributed to the growth of the Comfort & Lighting market in Ireland.

Underlying macroeconomic factors: The strong economic growth in Ireland has also played a role in the development of the Comfort & Lighting market. As disposable incomes have increased, consumers have been more willing to invest in high-quality lighting solutions that enhance their living spaces. Additionally, the construction sector has experienced significant growth, leading to an increased demand for lighting products in new residential and commercial buildings. In conclusion, the Comfort & Lighting market in Ireland is witnessing growth due to changing customer preferences, including a focus on energy efficiency and smart lighting solutions. The integration of smart technology and the demand for human-centric lighting are key trends in the market. The favorable policy environment and strong economic growth in Ireland have also contributed to the market's development.

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.