Comfort & Lighting - Papua New Guinea

Revenue in the Comfort & Lighting market is projected to reach US$2.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.28%, resulting in a projected market volume of US$3.9m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 113.9k users by 2029.
Household penetration will be 3.1% in 2024 and is expected to hit 5.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$33.08.

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 Papua New Guinea is experiencing steady growth due to increasing customer preferences for modern and efficient lighting solutions. Customers in Papua New Guinea are increasingly seeking out lighting options that are energy-efficient, durable, and provide a comfortable and pleasant environment. This trend is driven by a combination of global market developments and local special circumstances.

Customer preferences: Customers in Papua New Guinea are increasingly prioritizing energy-efficient lighting solutions. This is driven by a growing awareness of the environmental impact of traditional lighting options, as well as a desire to reduce energy costs. LED lighting, in particular, is gaining popularity due to its energy efficiency and long lifespan. Customers are also looking for lighting options that provide a comfortable and pleasant environment, with adjustable brightness levels and color temperatures.

Trends in the market: One significant trend in the Comfort & Lighting market in Papua New Guinea is the increasing adoption of smart lighting solutions. Smart lighting allows customers to control and customize their lighting settings through smartphone apps or voice commands. This trend is driven by the growing popularity of smart home technology and the desire for convenience and flexibility in lighting control. Additionally, the use of motion sensors and timers in lighting systems is becoming more common, as it helps to conserve energy by automatically turning off lights when they are not in use.

Local special circumstances: Papua New Guinea has a unique geography and climate that influence the Comfort & Lighting market. The country is characterized by remote and rural areas, where access to electricity is limited. This has led to a demand for off-grid lighting solutions, such as solar-powered lights, which are especially popular in these areas. Additionally, Papua New Guinea experiences frequent power outages, which has increased the demand for backup lighting systems, such as rechargeable battery-powered lights.

Underlying macroeconomic factors: The Comfort & Lighting market in Papua New Guinea is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This, in turn, has contributed to the growing demand for modern and efficient lighting solutions. Additionally, government initiatives and regulations promoting energy efficiency and sustainability are driving the adoption of energy-efficient lighting options in both residential and commercial sectors. In conclusion, the Comfort & Lighting market in Papua New Guinea is developing in response to increasing customer preferences for modern and efficient lighting solutions. Customers in the country are prioritizing energy efficiency, durability, and comfort in their lighting choices. The market is also influenced by trends such as the adoption of smart lighting solutions and the demand for off-grid and backup lighting options. These trends are driven by global market developments and local special circumstances, such as the unique geography and climate of Papua New Guinea. The underlying macroeconomic factors, including economic growth and government initiatives, are also contributing to the growth of the Comfort & Lighting market in the country.

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.