Control & Connectivity - BRICS | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$6.2bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.53%, resulting in a projected market volume of US$10.8bn by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 232.7m users by 2029.
Household penetration will be 8.4% in 2024 and is expected to hit 25.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$84.19.

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 BRICS is experiencing significant growth and development.

Customer preferences: Customers in the BRICS countries are increasingly demanding more control and connectivity solutions in various industries such as manufacturing, automotive, and healthcare. They are looking for advanced technologies that can enhance operational efficiency, improve safety, and enable seamless communication and data exchange. Additionally, there is a growing need for remote monitoring and control capabilities, as well as integration with other smart devices and systems.

Trends in the market: In Brazil, there is a rising adoption of control and connectivity solutions in the manufacturing sector, driven by the need for process automation and optimization. The automotive industry is also a key driver, with the demand for connected cars and advanced driver assistance systems. Furthermore, the healthcare sector is witnessing the implementation of telemedicine and remote patient monitoring solutions, which require robust control and connectivity infrastructure. In Russia, there is a growing focus on digitalization and automation across various industries. This has led to increased demand for control and connectivity solutions that can enable real-time monitoring and control of industrial processes. The transportation sector is also witnessing the adoption of connected vehicles and smart infrastructure, further driving the demand for control and connectivity technologies. In India, the control and connectivity market is driven by the rapid growth of the manufacturing sector, as well as the increasing adoption of automation and IoT technologies. The government's initiatives such as "Make in India" and "Digital India" are further boosting the demand for control and connectivity solutions. Additionally, the automotive industry is witnessing a shift towards electric vehicles and connected cars, driving the need for advanced control and connectivity technologies. In China, the control and connectivity market is experiencing significant growth due to the country's focus on industrial automation and digital transformation. The manufacturing sector is the primary driver, with the adoption of advanced control systems and industrial IoT technologies. The automotive industry is also witnessing the rise of connected cars and autonomous vehicles, further fueling the demand for control and connectivity solutions.

Local special circumstances: Each BRICS country has its own unique set of circumstances that contribute to the development of the control and connectivity market. For example, Brazil has a strong manufacturing base and is investing in Industry 4. 0 technologies to improve productivity and competitiveness. Russia, on the other hand, is focusing on modernizing its industries and infrastructure to drive economic growth. India is experiencing rapid urbanization and industrialization, leading to increased demand for control and connectivity solutions. China, being the largest manufacturing hub in the world, is at the forefront of industrial automation and digitalization.

Underlying macroeconomic factors: The growth of the control and connectivity market in BRICS is also influenced by underlying macroeconomic factors. For instance, the increasing disposable income and middle-class population in these countries are driving the demand for consumer electronics and smart devices, which require control and connectivity solutions. Additionally, the government initiatives and policies aimed at promoting digitalization and technological innovation are creating a favorable environment for the growth of the control and connectivity market. The availability of skilled labor, technological infrastructure, and investment opportunities further contribute to the development of the market in BRICS.

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.