Control & Connectivity - Finland | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$44.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.03%, resulting in a projected market volume of US$74.3m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 227.9k users by 2029.
Household penetration will be 3.3% in 2024 and is expected to hit 7.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$465.90.

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 Finland has been steadily developing in recent years, driven by customer preferences for advanced technology and the increasing demand for seamless connectivity. Customer preferences in Finland are heavily influenced by the country's reputation as a technology leader.

Finnish consumers have a strong preference for products and services that offer high levels of control and connectivity. This includes smart home devices, wearable technology, and connected cars. The demand for these products is driven by the desire for convenience, efficiency, and improved quality of life.

Trends in the market reflect the growing importance of control and connectivity in everyday life. Finnish consumers are increasingly relying on smart devices to manage their homes, monitor their health, and stay connected with others. This has led to a surge in demand for smart home systems, fitness trackers, and mobile devices with advanced connectivity features.

In addition, the adoption of connected cars is on the rise, as Finnish consumers seek vehicles that offer advanced control and connectivity options. Local special circumstances in Finland further contribute to the development of the Control & Connectivity market. The country's high level of digital infrastructure and technological expertise create a favorable environment for the growth of this market.

Finnish companies are at the forefront of innovation in the control and connectivity space, developing cutting-edge technologies and solutions that cater to the needs of both domestic and international customers. Underlying macroeconomic factors also play a role in the development of the Control & Connectivity market in Finland. The country's strong economy and high disposable income levels allow consumers to invest in advanced technology and connected devices.

Additionally, Finland's aging population has created a demand for control and connectivity solutions that support independent living and healthcare monitoring. In conclusion, the Control & Connectivity market in Finland is experiencing steady growth due to customer preferences for advanced technology, the increasing demand for seamless connectivity, local special circumstances, and underlying macroeconomic factors. As Finnish consumers continue to prioritize control and connectivity in their daily lives, the market is expected to further expand 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.