Comfort & Lighting - Kuwait | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$2.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.61%, resulting in a projected market volume of US$5.0m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 75.6k users by 2029.
Household penetration will be 6.1% in 2024 and is expected to hit 10.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$59.94.

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 Kuwait has been experiencing significant growth in recent years. Customer preferences in the Comfort & Lighting market in Kuwait have been shifting towards more energy-efficient and sustainable products.

Consumers are increasingly concerned about the environmental impact of their choices and are willing to invest in products that are both eco-friendly and cost-effective. This has led to a rise in demand for LED lighting solutions, which offer lower energy consumption and longer lifespan compared to traditional lighting options. Another customer preference in the Comfort & Lighting market in Kuwait is for smart home automation systems.

Kuwaiti consumers are increasingly looking for products that enhance convenience and comfort in their homes. Smart lighting systems that can be controlled remotely through mobile apps or voice commands have gained popularity, as they allow users to adjust lighting settings according to their preferences and create customized lighting scenes. Trends in the Comfort & Lighting market in Kuwait include the integration of advanced technologies such as Internet of Things (IoT) and artificial intelligence (AI).

These technologies enable the development of smart lighting systems that can automatically adjust lighting levels based on factors such as occupancy, natural light levels, and time of day. This not only enhances energy efficiency but also improves the overall user experience by providing optimal lighting conditions. Another trend in the Comfort & Lighting market in Kuwait is the focus on aesthetics and design.

Consumers are increasingly looking for lighting solutions that not only provide functional illumination but also enhance the visual appeal of their living spaces. This has led to the introduction of innovative lighting designs and fixtures that serve as decorative elements in addition to providing lighting. Local special circumstances in the Comfort & Lighting market in Kuwait include the hot climate and high electricity consumption.

Kuwait experiences long and hot summers, which result in high demand for cooling and lighting solutions. As a result, there is a need for energy-efficient products that can help reduce electricity consumption and lower utility bills. This has led to the adoption of LED lighting solutions, which not only offer energy savings but also generate less heat compared to traditional lighting options.

Underlying macroeconomic factors driving the development of the Comfort & Lighting market in Kuwait include population growth, urbanization, and government initiatives. Kuwait has a growing population, which has led to an increase in the construction of residential and commercial buildings. This has created a demand for Comfort & Lighting products to meet the needs of the expanding infrastructure.

Additionally, the government has implemented initiatives to promote energy efficiency and sustainability, which has further boosted the market for energy-efficient lighting solutions. In conclusion, the Comfort & Lighting market in Kuwait is experiencing growth due to customer preferences for energy-efficient and sustainable products, as well as the adoption of advanced technologies and focus on aesthetics and design. Local special circumstances such as the hot climate and high electricity consumption drive the demand for energy-efficient lighting solutions.

Underlying macroeconomic factors such as population growth, urbanization, and government initiatives also contribute to the development 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.