Control & Connectivity - Gabon | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$705.9k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.05%, resulting in a projected market volume of US$992.2k by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 23.1k users by 2029.
Household penetration will be 2.2% in 2024 and is expected to hit 3.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$58.14.

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 Gabon is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Gabon are driving the growth of the Control & Connectivity market.

As the country continues to develop its infrastructure, there is a growing demand for advanced control and connectivity solutions. Customers in Gabon are increasingly looking for reliable and efficient systems that can help them streamline their operations and improve productivity. They are also seeking solutions that can enhance connectivity and communication across different devices and platforms.

This preference for advanced control and connectivity solutions is fueling the growth of the market in Gabon. Trends in the market are also contributing to the development of the Control & Connectivity market in Gabon. One of the key trends in the market is the increasing adoption of Internet of Things (IoT) technology.

IoT allows for seamless connectivity between devices, enabling real-time monitoring and control of various systems. This trend is particularly relevant in Gabon, where industries such as manufacturing, energy, and transportation are embracing IoT solutions to optimize their operations. The demand for IoT-enabled control and connectivity solutions is driving the growth of the market in Gabon.

Another trend in the market is the shift towards cloud-based control and connectivity solutions. Cloud technology offers several benefits, including scalability, flexibility, and cost-effectiveness. In Gabon, businesses are recognizing the advantages of cloud-based solutions, as they allow for remote access and management of control systems.

This trend is driving the adoption of cloud-based control and connectivity solutions in Gabon, further fueling the growth of the market. Local special circumstances also play a role in the development of the Control & Connectivity market in Gabon. The country's geographical location and natural resources make it an attractive destination for industries such as oil and gas, mining, and forestry.

These industries require advanced control and connectivity solutions to optimize their operations and ensure efficient resource utilization. The demand from these industries is contributing to the growth of the market in Gabon. Underlying macroeconomic factors are also influencing the development of the Control & Connectivity market in Gabon.

The country's stable political environment and favorable investment climate have attracted foreign direct investment in various sectors, including technology and telecommunications. This influx of investment has led to the expansion of the Control & Connectivity market in Gabon, as companies are investing in advanced solutions to meet the growing demand. In conclusion, the Control & Connectivity market in Gabon is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The increasing demand for advanced control and connectivity solutions, the adoption of IoT and cloud-based technologies, the presence of industries requiring such solutions, and the favorable investment climate are driving the growth of the market in Gabon.

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.