Comfort & Lighting - Oman | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$3.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.74%, resulting in a projected market volume of US$6.1m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 109.6k users by 2029.
Household penetration will be 7.6% in 2024 and is expected to hit 13.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$51.15.

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 Oman is witnessing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Comfort & Lighting market are shifting towards energy-efficient and sustainable products.

Consumers are increasingly aware of the environmental impact of their choices and are opting for products that reduce energy consumption and promote sustainability. This trend is driven by a growing concern for the environment and a desire to reduce electricity bills. As a result, there is a growing demand for LED lighting solutions and smart home systems that offer energy-saving features.

Trends in the market are also contributing to its development. The adoption of smart home technology is gaining momentum in Oman, with homeowners embracing automation and connectivity features in their homes. This trend is driven by the convenience and comfort that smart home systems offer, such as remote control of lighting and temperature settings.

Additionally, the integration of voice control and artificial intelligence in lighting systems is becoming more prevalent, providing users with a seamless and personalized experience. Local special circumstances in Oman are also playing a role in the development of the Comfort & Lighting market. The government has been actively promoting energy efficiency and sustainability initiatives, which has led to increased awareness and demand for energy-efficient products.

Additionally, the rapid urbanization and infrastructure development in the country are driving the need for advanced lighting solutions in residential, commercial, and public spaces. Underlying macroeconomic factors are further fueling the growth of the Comfort & Lighting market in Oman. The country's stable economic growth and rising disposable income levels have increased consumer spending power, allowing individuals to invest in home improvement projects and upgrade their lighting systems.

Furthermore, the government's focus on diversifying the economy and reducing reliance on oil revenues has led to increased investment in infrastructure development, creating opportunities for the Comfort & Lighting market. In conclusion, the Comfort & Lighting market in Oman is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards energy-efficient and sustainable products, the adoption of smart home technology, government initiatives, and economic growth are all contributing to the market's expansion.

As the market continues to evolve, there will be increased opportunities for businesses to cater to the growing demand for innovative and efficient Comfort & Lighting solutions in Oman.

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.