Control & Connectivity - Iraq | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$7.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.74%, resulting in a projected market volume of US$10.0m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 330.2k users by 2029.
Household penetration will be 2.7% in 2024 and is expected to hit 4.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$41.18.

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 Iraq has been experiencing significant growth in recent years, driven by customer preferences for advanced technology and connectivity solutions. With the increasing demand for automation and digitization across various industries, the market has witnessed a surge in the adoption of control and connectivity solutions.

Customer preferences: Customers in Iraq are increasingly seeking control and connectivity solutions that can enhance operational efficiency, improve productivity, and reduce costs. The growing need for automation and remote monitoring in industries such as oil and gas, manufacturing, and utilities has fueled the demand for advanced control systems and connectivity solutions. Additionally, the rising popularity of smart homes and smart cities has also contributed to the increased adoption of control and connectivity technologies among consumers.

Trends in the market: One of the key trends in the Control & Connectivity market in Iraq is the shift towards wireless connectivity solutions. With the advancements in wireless technology, customers are opting for wireless control systems and connectivity solutions that offer greater flexibility and scalability. This trend is particularly prominent in industries where mobility and remote monitoring are critical, such as oil and gas exploration and production. Another trend in the market is the integration of Internet of Things (IoT) technologies with control and connectivity systems. IoT enables the seamless integration of devices and systems, allowing for real-time data collection and analysis. This integration has enabled businesses to optimize their operations, improve decision-making processes, and enhance overall efficiency. The adoption of IoT-enabled control and connectivity solutions is expected to increase further in the coming years.

Local special circumstances: Iraq is a country with a significant presence of oil and gas industries. The control and connectivity market in Iraq is heavily influenced by the requirements of these industries. The need for advanced control systems and connectivity solutions in oil and gas operations, such as remote monitoring and control of drilling rigs and pipelines, has been a major driver of market growth. Additionally, the government's focus on diversifying the economy and promoting industrialization has also contributed to the increased demand for control and connectivity solutions in other sectors, such as manufacturing and utilities.

Underlying macroeconomic factors: The Control & Connectivity market in Iraq is also influenced by several macroeconomic factors. The stability of the political and security situation in the country plays a crucial role in attracting investments and driving market growth. A stable and secure environment encourages businesses to invest in advanced control and connectivity technologies, leading to market expansion. Additionally, economic factors such as GDP growth, infrastructure development, and government initiatives to promote digital transformation also impact the market. In conclusion, the Control & Connectivity market in Iraq is witnessing significant growth due to customer preferences for advanced technology and connectivity solutions. The adoption of wireless connectivity and IoT-enabled control systems is driving market trends, while the presence of oil and gas industries and government initiatives to promote industrialization are contributing to local special circumstances. The stability of the political and security situation and underlying macroeconomic factors also play a crucial role in shaping the market dynamics.

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.