Comfort & Lighting - Mozambique

Mozambique

Revenue in the Comfort & Lighting market is projected to reach US$8.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.83%, resulting in a projected market volume of US$17.8m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 524.3k users by 2029.
Household penetration will be 3.8% in 2024 and is expected to hit 6.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$32.80.

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Analyst Opinion

The Comfort & Lighting market in Mozambique is witnessing significant development and growth.

Customer preferences: Customers in Mozambique are increasingly seeking comfort and convenience in their homes and workplaces. They are looking for products and solutions that enhance their overall lifestyle and provide them with a sense of well-being. As a result, there is a growing demand for comfortable furniture, lighting fixtures, and smart home automation systems.

Trends in the market: One of the key trends in the Comfort & Lighting market in Mozambique is the adoption of energy-efficient lighting solutions. This trend is driven by both environmental concerns and the desire to reduce energy consumption and costs. LED lighting products are gaining popularity due to their long lifespan, low energy consumption, and ability to provide bright and uniform illumination. Another trend in the market is the increasing integration of smart technology in lighting systems. Customers are looking for lighting solutions that can be controlled remotely through smartphones or voice commands. This allows them to adjust the lighting levels, colors, and patterns according to their preferences and create different moods and ambiances in their living spaces.

Local special circumstances: Mozambique has a rapidly growing urban population, which is driving the demand for comfortable and well-lit homes and offices. As more people move to cities, there is a need for housing and infrastructure development, creating opportunities for the Comfort & Lighting market. Additionally, the tourism sector is also expanding, leading to the construction of hotels, resorts, and other hospitality establishments that require high-quality comfort and lighting solutions.

Underlying macroeconomic factors: The economic growth in Mozambique is contributing to the development of the Comfort & Lighting market. With a stable economy and increasing disposable incomes, consumers have more purchasing power to invest in comfortable furniture and lighting fixtures. Furthermore, the government's focus on infrastructure development and urbanization is creating a favorable environment for the market to thrive. In conclusion, the Comfort & Lighting market in Mozambique is experiencing growth due to customer preferences for comfort and convenience, the adoption of energy-efficient lighting solutions, the integration of smart technology, the rapid urbanization, and the overall economic development of the country. These factors are driving the demand for comfortable furniture, lighting fixtures, and smart home automation systems in Mozambique.

Methodology

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.