Control & Connectivity - Georgia | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$1.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.78%, resulting in a projected market volume of US$2.4m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 76.0k users by 2029.
Household penetration will be 5.3% in 2024 and is expected to hit 9.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$41.75.

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 Georgia is experiencing steady growth due to the increasing demand for smart devices and the rise in internet penetration in the country.

Customer preferences: Customers in Georgia are increasingly adopting smart devices such as smartphones, tablets, and smart home appliances. This is driving the demand for control and connectivity solutions that enable seamless integration and communication between these devices. Additionally, the growing popularity of e-commerce and online services has further fueled the need for reliable and efficient connectivity solutions.

Trends in the market: One of the key trends in the Control & Connectivity market in Georgia is the shift towards wireless connectivity solutions. With the increasing adoption of smart devices, customers are looking for wireless solutions that offer convenience and flexibility. This has led to a rise in the demand for technologies such as Wi-Fi, Bluetooth, and Zigbee. Another trend in the market is the growing importance of security and privacy in control and connectivity solutions. As customers become more aware of the risks associated with connected devices, they are seeking solutions that prioritize data protection and privacy. This has led to the development of advanced security features in control and connectivity products.

Local special circumstances: Georgia has a relatively high internet penetration rate compared to other countries in the region. This is due to the government's efforts to improve digital infrastructure and promote internet access. The high internet penetration rate has created a favorable environment for the growth of the Control & Connectivity market in the country. Furthermore, Georgia has a young and tech-savvy population, which is driving the demand for control and connectivity solutions. The younger generation is more likely to adopt smart devices and seek innovative connectivity solutions, creating a strong customer base for companies operating in the Control & Connectivity market.

Underlying macroeconomic factors: The growth of the Control & Connectivity market in Georgia is also influenced by macroeconomic factors such as GDP growth and disposable income. As the economy continues to grow, consumers have more purchasing power, which allows them to invest in smart devices and connectivity solutions. Additionally, the government's focus on digitalization and innovation has created a supportive environment for the development of the Control & Connectivity market. In conclusion, the Control & Connectivity market in Georgia is thriving due to the increasing demand for smart devices, the rise in internet penetration, and the government's efforts to improve digital infrastructure. Customers in the country are adopting wireless connectivity solutions and prioritizing security and privacy in control and connectivity products. The young and tech-savvy population, along with favorable macroeconomic factors, further contribute to the growth of the market.

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.