Comfort & Lighting - Seychelles | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$26.7k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.69%, resulting in a projected market volume of US$53.1k by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 1.7k users by 2029.
Household penetration will be 3.7% 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$29.84.

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 Seychelles is experiencing steady growth and development. Customer preferences in the market are shifting towards more energy-efficient and sustainable lighting solutions.

LED lighting is gaining popularity due to its long lifespan, low energy consumption, and environmental benefits. Additionally, there is a growing demand for smart lighting systems that offer convenience and customization options. Trends in the market indicate a strong focus on energy efficiency and cost savings.

LED lighting is becoming the preferred choice for both residential and commercial applications. The government of Seychelles has implemented policies and initiatives to promote the use of energy-efficient lighting solutions, further driving the market growth. The increasing awareness about the environmental impact of traditional lighting technologies has also contributed to the shift towards LED lighting.

Local special circumstances in Seychelles, such as the country's reliance on tourism, have influenced the development of the Comfort & Lighting market. The tourism industry in Seychelles is a major contributor to the country's economy, and hotels and resorts play a significant role in attracting tourists. As a result, there is a growing demand for high-quality lighting solutions in the hospitality sector.

Hotels and resorts are investing in modern lighting systems to enhance the guest experience and create a welcoming ambiance. Underlying macroeconomic factors, such as the country's economic stability and government support, have also contributed to the growth of the Comfort & Lighting market in Seychelles. The government has implemented policies to promote sustainable development and energy efficiency, which has created a favorable environment for the adoption of energy-efficient lighting solutions.

Additionally, Seychelles has a stable economy and a growing middle class, which has increased the purchasing power of consumers and their willingness to invest in comfort and lighting products. In conclusion, the Comfort & Lighting market in Seychelles is experiencing growth and development driven by customer preferences for energy-efficient and sustainable lighting solutions. LED lighting is gaining popularity, and there is a growing demand for smart lighting systems.

The country's reliance on tourism and the government's focus on sustainable development have also contributed to the market growth. With a stable economy and government support, the Comfort & Lighting market in Seychelles is expected to continue its positive trajectory.

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.