Control & Connectivity - Ghana | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$11.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.93%, resulting in a projected market volume of US$16.0m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 380.9k users by 2029.
Household penetration will be 2.4% in 2024 and is expected to hit 4.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$55.65.

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 Ghana has been experiencing significant growth in recent years, driven by increasing demand for advanced technology solutions and the expansion of the telecommunications industry. Customer preferences in the Control & Connectivity market in Ghana are largely influenced by the need for reliable and efficient communication systems.

With the increasing adoption of digital technologies and the growing reliance on internet connectivity, customers in Ghana are seeking solutions that offer high-speed internet access, seamless connectivity, and secure data transmission. Additionally, there is a growing demand for smart home automation systems and Internet of Things (IoT) devices, as customers look for ways to enhance convenience and efficiency in their daily lives. Trends in the market indicate a shift towards the adoption of wireless connectivity solutions, such as 4G and 5G networks.

With the expansion of mobile network coverage and the increasing availability of affordable smartphones, more Ghanaians are accessing the internet through their mobile devices. This has created opportunities for mobile network operators and internet service providers to offer faster and more reliable wireless connectivity options to meet the growing demand. Another trend in the Control & Connectivity market in Ghana is the increasing adoption of cloud computing services.

Businesses and individuals are recognizing the benefits of cloud-based solutions, such as cost savings, scalability, and remote access to data and applications. This trend is driving the demand for reliable and high-speed internet connectivity, as well as data center infrastructure to support the storage and processing of large amounts of data. Local special circumstances in Ghana, such as the government's commitment to improving digital infrastructure and promoting digital inclusion, have also contributed to the development of the Control & Connectivity market.

The government has implemented initiatives to expand broadband access, promote e-commerce, and enhance digital literacy among the population. These efforts have created a favorable environment for technology companies and service providers to invest in the market and develop innovative solutions to meet the needs of the growing customer base. Underlying macroeconomic factors, such as the steady economic growth, increasing urbanization, and rising disposable income levels in Ghana, have also played a role in the development of the Control & Connectivity market.

As more Ghanaians gain access to smartphones and internet-enabled devices, the demand for connectivity solutions is expected to continue growing. Additionally, the government's focus on digital transformation and the promotion of a digital economy are expected to drive further investment in the Control & Connectivity market in Ghana. Overall, the Control & Connectivity market in Ghana is experiencing growth due to increasing customer demand for reliable and efficient communication systems, the adoption of wireless connectivity and cloud computing solutions, local special circumstances, and underlying macroeconomic factors.

As technology continues to advance and customer needs evolve, the market is expected to further expand and offer new opportunities for businesses operating in the sector.

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.