Control & Connectivity - GCC

Revenue in the Control & Connectivity market is projected to reach US$126.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.25%, resulting in a projected market volume of US$225.4m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 2.2m users by 2029.
Household penetration will be 10.0% in 2024 and is expected to hit 20.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$123.40.

Market

Region

Region comparison

Currency

Analyst Opinion

The Control & Connectivity market in GCC is experiencing significant growth and development.

Customer preferences: Customers in the GCC region are increasingly demanding advanced control and connectivity solutions for their homes and businesses. They are looking for smart technology that can enhance their daily lives and improve efficiency. With the rise of smart homes and smart cities, customers are seeking solutions that can integrate various devices and systems, allowing them to control and monitor their environment remotely. Additionally, there is a growing interest in energy management and sustainability, with customers looking for control and connectivity solutions that can help them reduce energy consumption and lower their carbon footprint.

Trends in the market: One major trend in the Control & Connectivity market in GCC is the adoption of Internet of Things (IoT) technology. IoT enables the connection of various devices and systems, allowing for seamless control and communication. This trend is driving the demand for smart home and building automation systems, as well as smart city infrastructure. Another trend is the increasing use of cloud-based control and connectivity solutions. Cloud technology offers scalability, flexibility, and remote access, making it an attractive option for customers in the GCC region. Additionally, there is a growing focus on cybersecurity in the Control & Connectivity market. As more devices and systems become connected, the need for robust cybersecurity measures becomes crucial to protect against potential threats and breaches.

Local special circumstances: The GCC region is known for its rapid urbanization and infrastructure development. Countries like the United Arab Emirates and Saudi Arabia are investing heavily in smart city projects, which require advanced control and connectivity solutions. The region's harsh climate, with high temperatures and sandstorms, also presents unique challenges for control and connectivity systems. Therefore, suppliers in the GCC market need to develop solutions that can withstand these extreme conditions and provide reliable performance.

Underlying macroeconomic factors: The Control & Connectivity market in GCC is driven by several macroeconomic factors. The region has a high GDP per capita, which indicates a strong purchasing power and a willingness to invest in advanced technology. Additionally, the GCC countries have ambitious development plans, such as Saudi Arabia's Vision 2030 and the UAE's Smart Dubai initiative, which prioritize the adoption of smart technology. The governments in the region are also implementing favorable policies and regulations to support the growth of the Control & Connectivity market. Furthermore, the GCC region has a young and tech-savvy population that is eager to embrace the latest technological innovations, further driving the demand for control and connectivity solutions.

Methodology

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.