Control & Connectivity - Benin | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$3.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.83%, resulting in a projected market volume of US$5.4m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 127.9k users by 2029.
Household penetration will be 2.7% in 2024 and is expected to hit 4.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$53.34.

Definition:

The Control & Connectivity market includes the essential equipment (connected and remote-control devices) and services that are part of an intelligent home network. The segment includes smart speakers (Amazon Echo, Google Home, etc.), central control and communication units (hub/gateway), programmable control buttons (e.g. wall switches and adjustable dials), and smart plugs for the control of non-smart devices.

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 Amazon and Google, 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.

Gateways/hubs that are capable of controlling devices of all segments (e.g., Smart Home Zigbee 3.0 Gateway Smik)
Smart speakers with a primary focus on control and digital assistants (e.g., Sonoro STREAM, Bose Smart Speaker 500)
Control buttons and smart plugs/sockets (e.g., TP-Link KE100 KIT, Aoycocr Wi-Fi Smart Socket)

Connected home appliances (see Smart Appliances)
Multiroom speaker systems with a primary focus on entertainment (see Home Entertainment)
Smartphones and tablets
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Control & Connectivity market in Benin is experiencing significant growth and development. Customer preferences in the Control & Connectivity market in Benin are shifting towards more advanced and connected technologies.

Customers in Benin are increasingly seeking products and solutions that offer seamless connectivity, enhanced control, and improved efficiency. This is driven by the growing demand for smart homes, smart cities, and connected devices. Customers are looking for solutions that can integrate different systems and devices, allowing them to control and monitor their homes and businesses remotely.

Additionally, customers are also demanding solutions that are easy to use, reliable, and cost-effective. Trends in the Control & Connectivity market in Benin include the adoption of Internet of Things (IoT) technologies, the growth of cloud-based solutions, and the increasing use of mobile devices. The IoT is playing a crucial role in the development of the Control & Connectivity market in Benin, as it enables the connection and communication between various devices and systems.

This allows customers to control and monitor their homes and businesses remotely, leading to increased convenience and efficiency. Cloud-based solutions are also gaining popularity in Benin, as they offer scalability, flexibility, and cost savings. By storing and processing data in the cloud, customers can access their control and connectivity systems from anywhere, at any time.

Furthermore, the increasing use of mobile devices is driving the demand for mobile applications that enable customers to control and monitor their systems on the go. Local special circumstances in Benin, such as the lack of reliable infrastructure and the high cost of energy, are also influencing the development of the Control & Connectivity market. The limited availability of reliable infrastructure, such as electricity and internet connectivity, poses challenges for the deployment and adoption of control and connectivity systems.

However, it also presents opportunities for innovative solutions that can operate in off-grid or low-resource environments. Additionally, the high cost of energy in Benin is driving the demand for energy-efficient control and connectivity solutions. Customers are looking for products and solutions that can help them reduce their energy consumption and lower their electricity bills.

Underlying macroeconomic factors, such as urbanization, economic growth, and government initiatives, are contributing to the development of the Control & Connectivity market in Benin. The rapid urbanization in Benin is leading to an increased demand for smart homes and smart cities solutions. As more people move to cities, there is a need for technologies that can improve the efficiency and sustainability of urban environments.

Furthermore, the economic growth in Benin is driving the demand for control and connectivity solutions in various sectors, such as manufacturing, healthcare, and transportation. Lastly, the government of Benin is also taking initiatives to promote the adoption of digital technologies and smart solutions, which is creating a favorable environment for the Control & Connectivity market to thrive.

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.