Comfort & Lighting - Lebanon | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$2.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.39%, resulting in a projected market volume of US$4.5m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 92.6k users by 2029.
Household penetration will be 5.7% in 2024 and is expected to hit 11.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$46.27.

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 Lebanon has been experiencing steady growth in recent years. Customer preferences for energy-efficient and sustainable lighting solutions have been driving this growth.

Additionally, the increasing focus on comfort and convenience in residential and commercial spaces has also contributed to the expansion of the market. Customer preferences in Lebanon have shifted towards energy-efficient lighting solutions due to rising awareness about environmental sustainability and the need to reduce energy consumption. LED lighting has gained popularity in the country as it offers significant energy savings and a longer lifespan compared to traditional lighting options.

Customers are also increasingly opting for smart lighting systems that allow for easy control and customization of lighting settings. In addition to energy efficiency, customer preferences in Lebanon also prioritize comfort and convenience. The demand for lighting solutions that provide optimal brightness and color temperature for different settings has been on the rise.

Customers are looking for lighting products that can create a comfortable and inviting atmosphere in their homes and workplaces. This has led to an increased demand for adjustable lighting options that can be tailored to individual preferences. The market in Lebanon has also been influenced by local special circumstances.

The country has a diverse population with varying cultural and religious practices, which has led to a demand for lighting solutions that cater to specific needs. For example, there is a demand for lighting products that can create a warm and inviting ambiance for religious ceremonies and gatherings. Furthermore, Lebanon has a strong tourism industry, with many visitors coming to experience its rich history and vibrant nightlife.

As a result, there is a demand for lighting solutions that can enhance the aesthetics of hotels, restaurants, and entertainment venues. This has led to an increased adoption of decorative and architectural lighting options in the market. Underlying macroeconomic factors have also played a role in the development of the Comfort & Lighting market in Lebanon.

The country has witnessed economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed customers to invest in high-quality lighting solutions that offer both functionality and aesthetics. In conclusion, the Comfort & Lighting market in Lebanon is experiencing growth due to customer preferences for energy-efficient and sustainable lighting solutions, as well as a focus on comfort and convenience.

Local special circumstances, such as cultural and religious practices, and the strong tourism industry have also contributed to the development of the market. Additionally, underlying macroeconomic factors, such as economic growth and increased consumer spending, have supported the expansion 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.