Control & Connectivity - Ireland | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$18.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.30%, resulting in a projected market volume of US$33.1m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 354.0k users by 2029.
Household penetration will be 7.5% in 2024 and is expected to hit 17.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$127.60.

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 Ireland has been experiencing significant growth in recent years, driven by customer preferences for advanced technology solutions and the increasing demand for connectivity across various industries. Customer preferences in the Control & Connectivity market in Ireland are focused on innovative and reliable solutions that can enhance productivity and efficiency.

Businesses in Ireland are increasingly adopting automation and control systems to streamline their operations and improve overall performance. This includes the use of advanced sensors, data analytics, and cloud-based platforms to monitor and control various processes. Additionally, there is a growing demand for connectivity solutions that enable seamless communication between devices and systems, facilitating real-time data exchange and decision-making.

One of the key trends in the Control & Connectivity market in Ireland is the adoption of Internet of Things (IoT) technology. IoT devices and sensors are being deployed across industries such as manufacturing, healthcare, and transportation to gather data and enable remote monitoring and control. This trend is driven by the need for real-time insights and the ability to remotely manage and optimize operations.

Furthermore, the increasing focus on sustainability and energy efficiency is driving the demand for smart building solutions, which rely on control and connectivity technologies to optimize energy consumption and reduce environmental impact. Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) capabilities into control and connectivity systems. AI and ML algorithms can analyze large volumes of data and make intelligent decisions, enabling predictive maintenance, optimizing resource allocation, and improving overall system performance.

This trend is particularly relevant in industries such as manufacturing, where predictive maintenance can prevent costly equipment failures and downtime. In addition to these global trends, there are also local special circumstances that are shaping the Control & Connectivity market in Ireland. The country has a strong focus on research and development, with a number of leading universities and research institutions driving innovation in the field of control and connectivity.

This has created a favorable environment for startups and technology companies to develop and commercialize new solutions. Furthermore, Ireland's favorable business environment and skilled workforce attract multinational companies to establish their European headquarters in the country, leading to increased investment in advanced technologies. Underlying macroeconomic factors such as Ireland's strong economic growth, favorable business climate, and government support for innovation are also contributing to the development of the Control & Connectivity market.

The country's robust manufacturing sector, growing healthcare industry, and emphasis on sustainable development are driving the demand for control and connectivity solutions. Additionally, the increasing digitalization of the economy and the rise of Industry 4. 0 concepts are creating opportunities for the adoption of advanced control and connectivity technologies.

Overall, the Control & Connectivity market in Ireland is witnessing significant growth due to customer preferences for advanced technology solutions, the adoption of IoT and AI technologies, local special circumstances supporting innovation, and favorable macroeconomic factors. This trend is expected to continue as businesses in Ireland increasingly recognize the value of control and connectivity solutions in improving productivity, efficiency, and sustainability.

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.