Comfort & Lighting - Zimbabwe | Statista Market Forecast

Revenue in the Comfort & Lighting market is projected to reach US$4.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.05%, resulting in a projected market volume of US$9.2m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 220.0k users by 2029.
Household penetration will be 3.2% in 2024 and is expected to hit 5.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$39.88.

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 Zimbabwe is experiencing significant growth and development in recent years. Customer preferences in Zimbabwe have shifted towards more energy-efficient and sustainable lighting solutions.

This is driven by increasing awareness of the environmental impact of traditional lighting methods and the desire to reduce energy consumption and costs. As a result, there is a growing demand for LED lighting products, which offer longer lifespans, lower energy consumption, and reduced maintenance requirements compared to traditional lighting options. In addition to energy efficiency, customers in Zimbabwe also prioritize comfort and convenience in their lighting choices.

They are increasingly looking for lighting solutions that can be easily controlled and customized to suit their individual needs. This has led to a rise in the popularity of smart lighting systems, which allow users to adjust the brightness, color, and timing of their lights through smartphone apps or voice commands. Trends in the Comfort & Lighting market in Zimbabwe are also influenced by global and regional developments.

The rapid advancement of technology and the increasing availability of affordable lighting products have made it easier for consumers to access a wide range of options. This has contributed to a more competitive market, with companies constantly innovating and introducing new products to meet the changing demands of customers. Local special circumstances in Zimbabwe, such as frequent power outages and limited access to electricity in rural areas, have also shaped the Comfort & Lighting market.

Customers in these areas often rely on alternative sources of lighting, such as solar-powered lamps and lanterns. This has created a niche market for off-grid lighting solutions, which are designed to provide reliable and affordable lighting in areas with unreliable or no access to the electricity grid. Underlying macroeconomic factors, such as the overall economic growth and stability of Zimbabwe, also play a role in the development of the Comfort & Lighting market.

As the economy improves and disposable incomes rise, consumers are more willing to invest in higher-quality and more advanced lighting solutions. Additionally, government initiatives and incentives to promote energy efficiency and sustainability have further fueled the growth of the market. Overall, the Comfort & Lighting market in Zimbabwe is experiencing growth and development driven by customer preferences for energy-efficient and customizable lighting solutions.

The market is also influenced by global and regional trends, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and customer demands evolve, the market is expected to further expand and diversify in the coming years.

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.