Comfort & Lighting - Sweden | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$180.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.03%, resulting in a projected market volume of US$278.4m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 3.2m users by 2029.
Household penetration will be 25.5% in 2024 and is expected to hit 58.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$134.30.

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 Sweden has been experiencing significant growth in recent years. Customer preferences have shifted towards more energy-efficient and sustainable lighting solutions, driving the demand for innovative products in the market. Additionally, the increasing focus on creating comfortable and well-lit spaces has also contributed to the growth of the market.

Customer preferences: In Sweden, customers are increasingly concerned about the environmental impact of their choices and are actively seeking energy-efficient lighting solutions. This has led to a growing demand for LED lighting products, which consume less energy and have a longer lifespan compared to traditional lighting options. Customers are also looking for lighting solutions that can be easily integrated into smart home systems, allowing them to control and customize their lighting settings.

Trends in the market: One of the major trends in the Comfort & Lighting market in Sweden is the adoption of smart lighting systems. These systems offer advanced features such as remote control, dimming, and color-changing capabilities, providing customers with greater flexibility and control over their lighting. The integration of smart lighting with other smart home devices, such as voice assistants and motion sensors, is also gaining popularity. Another trend in the market is the growing demand for human-centric lighting solutions. These lighting systems are designed to mimic natural light patterns, promoting well-being and productivity. With an increasing awareness of the impact of lighting on human health and well-being, customers are willing to invest in lighting solutions that can create comfortable and healthy living and working environments.

Local special circumstances: Sweden has a strong commitment to sustainability and environmental protection. The government has implemented various initiatives and policies to promote energy efficiency and reduce greenhouse gas emissions. This has created a favorable environment for the growth of the Comfort & Lighting market, as customers are encouraged to choose energy-efficient and sustainable lighting options.

Underlying macroeconomic factors: The strong economy in Sweden has also contributed to the growth of the Comfort & Lighting market. With a high standard of living and disposable income, customers are willing to invest in high-quality lighting products that can enhance their living spaces. Additionally, the construction industry in Sweden has been booming, leading to an increased demand for lighting solutions in residential and commercial buildings. In conclusion, the Comfort & Lighting market in Sweden is experiencing growth due to customer preferences for energy-efficient and sustainable lighting solutions. The adoption of smart lighting systems and human-centric lighting solutions is also driving the market forward. The local special circumstances, including the focus on sustainability and the strong economy, have created a favorable environment for the growth of the market.

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.