Control & Connectivity - EAEU | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$265.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.71%, resulting in a projected market volume of US$461.0m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 6.3m users by 2029.
Household penetration will be 5.0% in 2024 and is expected to hit 13.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$114.20.

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 EAEU is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Control & Connectivity market in EAEU are shifting towards more advanced and technologically advanced products.

Customers are increasingly demanding products that offer seamless connectivity, high-speed data transfer, and enhanced security features. This shift in preferences is driving the demand for innovative control and connectivity solutions in the market. Trends in the market indicate a growing adoption of Internet of Things (IoT) devices and solutions.

The increasing number of connected devices and the need for efficient control and connectivity solutions are driving the growth of the market. Additionally, the rising demand for smart homes, smart cities, and industrial automation is further fueling the market growth. Local special circumstances in the EAEU region also contribute to the development of the Control & Connectivity market.

The region has a strong focus on industrialization and technological innovation, which creates a favorable environment for the growth of the market. Additionally, the EAEU countries have been investing in infrastructure development, including the development of smart cities and digital infrastructure, which further drives the demand for control and connectivity solutions. Underlying macroeconomic factors such as economic growth and increasing disposable income also play a significant role in the development of the Control & Connectivity market in EAEU.

As the economies in the region continue to grow, consumers have more purchasing power to invest in advanced control and connectivity solutions. This, in turn, drives the market growth. In conclusion, the Control & Connectivity market in EAEU is experiencing significant growth and development due to customer preferences for advanced and technologically advanced products, the adoption of IoT devices and solutions, local special circumstances such as industrialization and infrastructure development, and underlying macroeconomic factors such as economic growth and increasing disposable income.

These factors are driving the demand for control and connectivity solutions in the market and are expected to continue fueling the market growth in the future.

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.