Control & Connectivity - Gambia | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$213.6k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.94%, resulting in a projected market volume of US$327.8k by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 12.3k users by 2029.
Household penetration will be 1.6% in 2024 and is expected to hit 2.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$33.25.

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 Gambia is experiencing significant growth and development.

Customer preferences: Customers in Gambia are increasingly demanding control and connectivity solutions to enhance their daily lives and improve efficiency in various sectors. The demand for smart home devices, such as smart lighting, thermostats, and security systems, is on the rise as consumers seek to automate and control their homes remotely. Additionally, businesses in Gambia are adopting control and connectivity solutions to streamline their operations, improve productivity, and enhance customer experience. The increasing use of smartphones and other mobile devices has also contributed to the growing demand for control and connectivity solutions, as consumers seek convenience and connectivity on the go.

Trends in the market: One of the key trends in the Control & Connectivity market in Gambia is the adoption of Internet of Things (IoT) technology. IoT enables devices to connect and communicate with each other, creating a network of interconnected devices that can be controlled and monitored remotely. This technology is being used in various sectors, including healthcare, agriculture, transportation, and energy management. For example, in healthcare, IoT devices are being used to monitor patients remotely and provide real-time data to healthcare providers. In agriculture, IoT sensors are being used to monitor soil moisture levels and temperature, enabling farmers to optimize irrigation and improve crop yields. The adoption of IoT technology is expected to continue growing in Gambia as businesses and consumers recognize the benefits of connectivity and automation. Another trend in the Control & Connectivity market in Gambia is the increasing use of cloud-based control and connectivity solutions. Cloud computing allows users to access and control their devices and data remotely, without the need for physical infrastructure. This enables businesses and consumers to access their control and connectivity solutions from anywhere, at any time. Cloud-based solutions also offer scalability and flexibility, allowing users to easily add or remove devices as needed. This trend is driven by the increasing availability and affordability of cloud services in Gambia, as well as the growing need for remote access and control.

Local special circumstances: Gambia is a small country with a developing economy, and the Control & Connectivity market is still in its early stages. However, the government of Gambia has recognized the importance of digitalization and connectivity for economic development, and has taken steps to promote the adoption of control and connectivity solutions. For example, the government has implemented initiatives to improve internet infrastructure and connectivity in the country, including the deployment of fiber optic cables and the establishment of free Wi-Fi zones. These initiatives are expected to drive the adoption of control and connectivity solutions in Gambia, as businesses and consumers gain access to reliable and high-speed internet.

Underlying macroeconomic factors: The growth and development of the Control & Connectivity market in Gambia are also influenced by underlying macroeconomic factors. Gambia has experienced stable economic growth in recent years, driven by sectors such as tourism, agriculture, and services. This economic growth has led to an increase in disposable income and consumer spending, which in turn has contributed to the growing demand for control and connectivity solutions. Additionally, the government of Gambia has implemented policies to attract foreign investment and promote entrepreneurship, which has created opportunities for businesses in the Control & Connectivity market. Overall, the combination of favorable macroeconomic conditions and government support is expected to drive the continued growth and development of the Control & Connectivity market in Gambia.

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.