Comfort & Lighting - Senegal | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$3.8m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.60%, resulting in a projected market volume of US$7.5m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 187.5k users by 2029.
Household penetration will be 4.0% in 2024 and is expected to hit 6.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$38.15.

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 Senegal is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Comfort & Lighting market in Senegal have shifted towards more energy-efficient and sustainable solutions.

Consumers are increasingly aware of the environmental impact of their choices and are seeking products that are eco-friendly. This has led to a rising demand for energy-efficient lighting solutions, such as LED bulbs, which consume less electricity and have a longer lifespan. Additionally, customers are also looking for comfort products that offer convenience and ease of use, such as smart lighting systems that can be controlled remotely through mobile applications.

Trends in the Comfort & Lighting market in Senegal are also contributing to its development. One notable trend is the increasing adoption of smart home technology. This includes the integration of lighting systems with other home automation devices, such as thermostats and security systems.

This trend is driven by the desire for convenience and the ability to control and monitor various aspects of the home from a single device. Another trend is the growing popularity of decorative lighting solutions, as consumers seek to enhance the aesthetics of their living spaces. Local special circumstances in Senegal also play a role in the development of the Comfort & Lighting market.

The country has a rapidly expanding urban population, which has led to an increase in housing construction and renovation projects. This has created a growing demand for lighting and comfort products in both residential and commercial sectors. Additionally, the government of Senegal has been actively promoting the use of renewable energy sources, including solar power.

This has created opportunities for companies in the Comfort & Lighting market to offer solar-powered lighting solutions to meet the energy needs of the population. Underlying macroeconomic factors have also contributed to the growth of the Comfort & Lighting market in Senegal. The country has experienced steady economic growth in recent years, leading to an increase in disposable income levels.

This has allowed consumers to invest in home improvement projects and upgrade their lighting and comfort systems. Furthermore, the government has implemented favorable policies and incentives to attract foreign investment in the energy sector, which has further stimulated the market. In conclusion, the Comfort & Lighting market in Senegal is developing due to changing customer preferences towards energy-efficient and sustainable solutions, emerging trends in the market such as smart home technology and decorative lighting, local special circumstances such as urbanization and government initiatives promoting renewable energy, and underlying macroeconomic factors such as economic growth and favorable policies.

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.