Comfort & Lighting - Moldova | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$3.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.02%, resulting in a projected market volume of US$6.8m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 151.9k users by 2029.
Household penetration will be 10.5% in 2024 and is expected to hit 19.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$40.27.

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 Moldova is experiencing steady growth, driven by increasing customer preferences for energy-efficient and smart lighting solutions. Moldova is a country in Eastern Europe, known for its rich cultural heritage and picturesque landscapes.

Customer preferences: In line with global trends, customers in Moldova are increasingly seeking energy-efficient and smart lighting solutions for their homes and offices. This shift in preference can be attributed to the growing awareness about the environmental impact of traditional lighting solutions and the potential cost savings associated with energy-efficient alternatives. Additionally, customers are also looking for lighting solutions that offer convenience and flexibility, such as smart lighting systems that can be controlled remotely through mobile applications.

Trends in the market: One of the key trends in the Comfort & Lighting market in Moldova is the adoption of LED lighting solutions. LED lights are known for their energy efficiency, long lifespan, and versatility in terms of design options. As customers become more aware of the benefits of LED lighting, there has been a significant increase in the demand for LED bulbs and fixtures in Moldova. This trend is expected to continue as LED technology continues to evolve and become more affordable. Another trend in the market is the integration of smart lighting systems. These systems allow customers to control their lighting settings through mobile applications, providing convenience and energy savings. With the increasing popularity of smart homes and the Internet of Things (IoT), the demand for smart lighting solutions is expected to grow in Moldova.

Local special circumstances: Moldova is a developing country with a growing middle class. As the economy improves, more individuals and businesses have the financial means to invest in comfort and lighting solutions. This has created a favorable market environment for companies operating in the Comfort & Lighting sector.

Underlying macroeconomic factors: The Comfort & Lighting market in Moldova is influenced by various macroeconomic factors. Economic stability, government policies, and infrastructure development play a crucial role in shaping the market. As the economy continues to grow and infrastructure improves, there will be greater opportunities for companies to expand their operations and cater to the increasing demand for comfort and lighting solutions. In conclusion, the Comfort & Lighting market in Moldova is witnessing growth driven by the increasing customer preferences for energy-efficient and smart lighting solutions. LED lighting and smart lighting systems are the key trends in the market, offering energy savings and convenience to customers. The growing middle class and improving economy provide a favorable market environment for companies operating in this sector.

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.