Comfort & Lighting - Southern Europe

Revenue in the Comfort & Lighting market is projected to reach US$336.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.59%, resulting in a projected market volume of US$556.3m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 18.2m users by 2029.
Household penetration will be 8.1% in 2024 and is expected to hit 22.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$51.50.

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 Southern Europe is experiencing steady growth due to increasing customer preferences for energy-efficient and smart lighting solutions. With a focus on sustainability and cost savings, customers in this region are opting for products that not only provide comfort but also help reduce energy consumption and environmental impact.

Customer preferences: Customers in Southern Europe are increasingly looking for energy-efficient lighting solutions that provide both comfort and cost savings. LED lighting has gained popularity in recent years due to its long lifespan, low energy consumption, and ability to produce high-quality light. Additionally, customers are also interested in smart lighting systems that can be controlled remotely, allowing them to customize the lighting in their homes or offices according to their needs.

Trends in the market: One of the key trends in the Comfort & Lighting market in Southern Europe is the adoption of smart lighting systems. These systems offer advanced features such as dimming, color changing, and scheduling, which provide customers with greater control over their lighting environment. The integration of smart lighting with other smart home devices, such as voice assistants and motion sensors, is also gaining traction in the market. Another trend in the market is the increasing demand for human-centric lighting solutions. These lighting systems are designed to mimic natural daylight and have a positive impact on human health and well-being. They can help regulate sleep patterns, enhance productivity, and improve mood. As customers become more aware of the benefits of human-centric lighting, the demand for such products is expected to grow.

Local special circumstances: Southern Europe has a rich cultural heritage, and customers in this region often prioritize aesthetics and design when choosing lighting solutions. They prefer products that not only provide functional lighting but also enhance the overall ambiance of their spaces. As a result, there is a demand for lighting fixtures that are not only energy-efficient but also visually appealing and complement the interior design of homes and businesses.

Underlying macroeconomic factors: The Comfort & Lighting market in Southern Europe is influenced by several macroeconomic factors. The region has been experiencing economic recovery in recent years, leading to increased consumer spending power. This has resulted in higher demand for comfort and lighting products as customers are willing to invest in improving their living and working environments. Furthermore, the focus on sustainability and energy efficiency in the region is driven by both government regulations and customer awareness. Governments in Southern Europe have implemented energy-saving initiatives and regulations to reduce carbon emissions and promote energy efficiency. Customers are also becoming more conscious of their environmental footprint and are actively seeking products that align with their values. In conclusion, the Comfort & Lighting market in Southern Europe is witnessing growth due to customer preferences for energy-efficient and smart lighting solutions. The adoption of smart lighting systems and human-centric lighting are key trends in the market. Local special circumstances, such as a focus on aesthetics and design, also influence customer choices. The underlying macroeconomic factors of economic recovery and sustainability initiatives further drive the market's development.

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.