Control & Connectivity - Guinea | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$919.1k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.68%, resulting in a projected market volume of US$1.6m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 63.4k users by 2029.
Household penetration will be 1.4% in 2024 and is expected to hit 2.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$28.21.

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 Guinea is experiencing significant growth and development due to several key factors.

Customer preferences: In Guinea, customers are increasingly demanding more advanced control and connectivity solutions for their businesses and homes. This is driven by the need for greater efficiency, productivity, and convenience. Customers are looking for solutions that can help them automate processes, monitor and control devices remotely, and improve overall connectivity. They are also seeking solutions that are user-friendly, scalable, and cost-effective.

Trends in the market: One of the major trends in the Control & Connectivity market in Guinea is the adoption of Internet of Things (IoT) technology. IoT enables devices to connect and communicate with each other, allowing for seamless control and connectivity. This trend is driven by the increasing availability of affordable and reliable internet connectivity in the country. Businesses and consumers are leveraging IoT technology to improve efficiency, reduce costs, and enhance the overall user experience. Another trend in the market is the growing demand for smart home solutions. With the increasing urbanization and rising disposable incomes in Guinea, more people are investing in smart home devices and systems. These include smart lighting, thermostats, security systems, and entertainment systems. The convenience and energy-saving benefits of these solutions are driving their adoption in the residential sector.

Local special circumstances: Guinea has a growing middle class population, which is driving the demand for control and connectivity solutions. As more people have access to disposable income, they are investing in technologies that can improve their quality of life and make their homes and businesses more efficient. Additionally, the government of Guinea is promoting digital transformation and the adoption of advanced technologies, which is creating a favorable environment for the growth of the Control & Connectivity market.

Underlying macroeconomic factors: The economic growth in Guinea is contributing to the development of the Control & Connectivity market. The country has been experiencing steady economic growth, driven by sectors such as mining, agriculture, and construction. This has led to increased investment in infrastructure and technology, creating opportunities for the Control & Connectivity market. Additionally, the government's focus on improving internet connectivity and digital infrastructure is further supporting the growth of the market. In conclusion, the Control & Connectivity market in Guinea is witnessing significant growth and development due to customer preferences for advanced solutions, the adoption of IoT technology, the demand for smart home solutions, the growing middle class population, and the favorable macroeconomic factors. As the market continues to evolve, it is expected to offer more innovative and tailored solutions to meet the needs of businesses and consumers in Guinea.

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.