Comfort & Lighting - Peru

Peru

Highlights

Revenue in the Comfort & Lighting market is projected to reach US$6.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.65%, resulting in a projected market volume of US$12.0m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 1.7m users by 2029.
Household penetration will be 4.7% in 2024 and is expected to hit 20.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$18.25.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Comfort & Lighting market in Peru is experiencing steady growth due to increasing customer preferences for energy-efficient and sustainable solutions. Customers in Peru are becoming more conscious of their environmental impact and are actively seeking products that help reduce energy consumption and promote sustainability. This trend is driving the demand for energy-efficient lighting and comfort systems in the country.

Customer preferences: Peruvian customers are increasingly prioritizing energy efficiency and sustainability when it comes to their lighting and comfort needs. They are looking for products that not only provide optimal lighting and comfort levels but also help reduce energy consumption and minimize their carbon footprint. LED lighting solutions have gained significant popularity in Peru due to their energy efficiency and long lifespan. Customers are also showing a preference for smart lighting systems that can be controlled remotely and programmed to adjust lighting levels based on occupancy or natural light conditions.

Trends in the market: One of the key trends in the Comfort & Lighting market in Peru is the adoption of smart home technology. Customers are increasingly integrating lighting and comfort systems into their smart home setups, allowing them to control and automate various aspects of their homes. This trend is driven by the convenience and energy-saving benefits offered by smart home technology. Additionally, the government of Peru has implemented various initiatives to promote the use of energy-efficient lighting systems, further driving the adoption of smart lighting solutions. Another trend in the market is the growing popularity of natural and daylighting solutions. Customers are looking for ways to bring natural light into their homes and workplaces, as it is known to improve mood, productivity, and overall well-being. This has led to an increased demand for skylights, solar tubes, and other daylighting solutions in Peru. Additionally, customers are opting for window treatments that allow for better control of natural light, such as blinds and shades that can be adjusted to let in the desired amount of sunlight.

Local special circumstances: Peru is a country with a diverse climate, ranging from coastal deserts to high-altitude mountain ranges. This diversity in climate and geography creates unique challenges and opportunities in the Comfort & Lighting market. In coastal areas, where temperatures can be high and humidity levels are low, customers prioritize cooling and ventilation solutions that provide comfort without consuming excessive energy. In mountainous regions, where temperatures can drop significantly, customers prioritize heating solutions that are efficient and reliable.

Underlying macroeconomic factors: The growing Comfort & Lighting market in Peru is also influenced by several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed customers to invest in home improvement projects, including the upgrade of lighting and comfort systems. Additionally, the government of Peru has implemented policies and incentives to promote energy efficiency and sustainability, further driving the demand for energy-efficient lighting and comfort solutions. In conclusion, the Comfort & Lighting market in Peru is witnessing growth due to increasing customer preferences for energy-efficient and sustainable solutions. Customers are prioritizing products that help reduce energy consumption and promote sustainability. The adoption of smart home technology and the demand for natural and daylighting solutions are key trends in the market. The diverse climate and geography of Peru create unique challenges and opportunities in the Comfort & Lighting market. The steady economic growth and government initiatives to promote energy efficiency and sustainability are underlying macroeconomic factors driving the market in Peru.

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.