Comfort & Lighting - Western Asia

Revenue in the Comfort & Lighting market is projected to reach US$138.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.58%, resulting in a projected market volume of US$261.2m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 6.0m users by 2029.
Household penetration will be 7.0% in 2024 and is expected to hit 13.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$46.76.

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 Western Asia is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of this market.

Customer preferences in Western Asia are driving the growth of the Comfort & Lighting market. With a rising middle class and increasing disposable income, consumers are placing a greater emphasis on comfort and aesthetics in their homes and workplaces. This has led to a growing demand for high-quality lighting solutions that not only provide adequate illumination but also enhance the overall ambiance of the space.

Additionally, consumers in Western Asia are increasingly seeking energy-efficient and eco-friendly lighting options, further driving the demand for innovative and sustainable lighting products. Trends in the market are also playing a significant role in the growth of the Comfort & Lighting market in Western Asia. One major trend is the adoption of smart lighting solutions.

With the advancement of technology, consumers are now able to control their lighting systems remotely through smartphones or other smart devices. This allows for greater convenience and customization, as well as energy savings. Another trend is the integration of lighting with other home automation systems, such as security and entertainment systems.

This seamless integration enhances the overall comfort and convenience of the living space. Local special circumstances in Western Asia are contributing to the growth of the Comfort & Lighting market. The region is known for its hot climate, which necessitates the use of efficient cooling systems.

As lighting and cooling systems often go hand in hand, the demand for lighting solutions that minimize heat generation and energy consumption is on the rise. Additionally, Western Asia has a rich cultural heritage and a strong emphasis on aesthetics. This has led to a demand for lighting solutions that not only provide functional illumination but also serve as decorative elements, reflecting the local culture and traditions.

Underlying macroeconomic factors are also driving the growth of the Comfort & Lighting market in Western Asia. The region is experiencing rapid urbanization and infrastructure development, which is creating a demand for lighting solutions in residential, commercial, and public spaces. Furthermore, government initiatives and regulations aimed at promoting energy efficiency and sustainability are encouraging the adoption of energy-efficient lighting solutions.

In conclusion, the Comfort & Lighting market in Western Asia is witnessing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for comfort, aesthetics, and energy efficiency, coupled with the adoption of smart lighting solutions and the region's unique climatic and cultural factors, are driving the growth of this 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.