Comfort & Lighting - Qatar

  • Qatar
  • Revenue in the Comfort & Lighting market is projected to reach US$6.2m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.71%, resulting in a projected market volume of US$11.8m by 2029.
  • In the Comfort & Lighting market, the number of active households is expected to amount to 183.1k users by 2029.
  • Household penetration will be 20.5% in 2024 and is expected to hit 36.9% by 2029.
  • The average revenue per installed Smart Home currently is expected to amount to US$63.12.
 
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Analyst Opinion

The Comfort & Lighting market in Qatar has been experiencing significant growth in recent years. Customer preferences are shifting towards more energy-efficient and sustainable lighting solutions, driving the demand for smart lighting systems. Additionally, the increasing focus on comfort and well-being in residential and commercial spaces has led to a growing demand for innovative comfort solutions.

Customer preferences:
Customers in Qatar are increasingly seeking energy-efficient and sustainable lighting solutions. This shift in preference is driven by the rising awareness of environmental issues and the need to reduce energy consumption. As a result, there is a growing demand for smart lighting systems that can be controlled remotely and offer features such as motion sensors and dimming capabilities. Customers are also looking for lighting solutions that provide a comfortable and aesthetically pleasing environment.

Trends in the market:
The Comfort & Lighting market in Qatar is witnessing a trend towards the adoption of smart lighting systems. These systems offer various benefits, including energy savings, customization options, and improved security. The integration of smart lighting with other smart home devices, such as voice assistants and security systems, is also gaining popularity. Additionally, there is a growing demand for lighting solutions that enhance the comfort and well-being of individuals, such as circadian lighting that mimics natural daylight patterns.

Local special circumstances:
Qatar's rapid urbanization and infrastructural development have contributed to the growth of the Comfort & Lighting market. The country's ambitious plans for hosting major events, such as the FIFA World Cup 2022, have led to increased investments in infrastructure and hospitality sectors. This has created a demand for innovative lighting and comfort solutions in hotels, stadiums, and other public spaces. Additionally, Qatar's hot climate necessitates the use of efficient cooling systems, further driving the demand for comfort solutions.

Underlying macroeconomic factors:
Qatar's strong economy and high per capita income have played a significant role in the development of the Comfort & Lighting market. The country's robust construction industry, driven by government investments and private sector projects, has created a demand for lighting and comfort solutions in residential and commercial buildings. Furthermore, Qatar's commitment to sustainable development and energy efficiency has led to the implementation of regulations and incentives that promote the use of energy-efficient lighting and comfort systems. In conclusion, the Comfort & Lighting market in Qatar is experiencing growth due to customer preferences for energy-efficient and sustainable solutions, as well as the increasing focus on comfort and well-being. The adoption of smart lighting systems and the demand for innovative comfort solutions are key trends in the market. Qatar's rapid urbanization, infrastructural development, and strong economy are driving factors behind the market's growth.

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.

Overview

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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