Comfort & Lighting - Rwanda | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$3.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.34%, resulting in a projected market volume of US$6.5m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 181.0k users by 2029.
Household penetration will be 3.2% in 2024 and is expected to hit 5.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$34.48.

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 Rwanda has been experiencing steady growth in recent years, driven by increasing customer preferences for modern and efficient lighting solutions. With the government's focus on promoting sustainable development and improving access to electricity, there has been a surge in demand for energy-efficient lighting products in the country.

Customer preferences: Customers in Rwanda have shown a growing preference for energy-efficient lighting solutions that not only provide adequate illumination but also help reduce electricity consumption. This shift in preference can be attributed to the rising awareness about the environmental impact of traditional lighting technologies and the need to reduce energy costs. LED lighting products, in particular, have gained popularity among consumers due to their long lifespan, low energy consumption, and lower maintenance requirements.

Trends in the market: One of the key trends in the Comfort & Lighting market in Rwanda is the increasing adoption of LED lighting solutions. LED lights are known for their energy efficiency, durability, and versatility, making them an ideal choice for both residential and commercial applications. The declining prices of LED products and the availability of a wide range of options have further fueled their demand in the market. Another trend in the market is the integration of smart lighting systems. With the advancement of technology, customers are increasingly looking for lighting solutions that offer automation, remote control, and energy management capabilities. Smart lighting systems allow users to control the lighting intensity, color, and timing through mobile applications or voice commands, providing convenience and energy savings.

Local special circumstances: Rwanda has made significant progress in improving access to electricity in recent years. The government has implemented various initiatives to increase the electrification rate, resulting in a larger customer base for the Comfort & Lighting market. Additionally, the country's commitment to sustainable development and renewable energy sources has created a favorable environment for the adoption of energy-efficient lighting solutions.

Underlying macroeconomic factors: The Comfort & Lighting market in Rwanda is also influenced by underlying macroeconomic factors. The country's economic growth, urbanization, and rising disposable incomes have contributed to the increasing demand for lighting products. As more households and businesses seek to upgrade their lighting systems, the market is expected to witness further expansion. Furthermore, government policies and regulations play a crucial role in shaping the market dynamics. The Rwandan government has implemented energy efficiency programs and provided incentives to promote the use of energy-efficient lighting solutions. These initiatives have not only encouraged consumers to switch to LED lighting but have also attracted investments in the sector. In conclusion, the Comfort & Lighting market in Rwanda is experiencing growth due to customer preferences for energy-efficient lighting solutions, the increasing adoption of LED products, and the integration of smart lighting systems. The government's focus on sustainable development and improving access to electricity, along with favorable macroeconomic factors, has further propelled the market's expansion.

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.