Control & Connectivity - Kuwait | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$3.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.30%, resulting in a projected market volume of US$4.3m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 74.2k users by 2029.
Household penetration will be 6.1% in 2024 and is expected to hit 10.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$75.16.

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 Kuwait is experiencing significant development and growth. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.

Customer preferences in Kuwait are driving the growth of the Control & Connectivity market. Kuwaiti consumers increasingly value convenience and efficiency in their daily lives. They are seeking smart solutions that allow them to control and connect various devices and systems in their homes and workplaces.

This includes technologies such as smart home automation systems, connected security systems, and integrated communication networks. The demand for these products and services is fueling the growth of the Control & Connectivity market in Kuwait. Trends in the market also contribute to its development.

The rapid advancement of technology worldwide has a direct impact on the Control & Connectivity market in Kuwait. As new innovations emerge, such as Internet of Things (IoT) devices and artificial intelligence (AI) systems, the demand for control and connectivity solutions increases. Kuwaiti consumers are eager to adopt these new technologies and incorporate them into their daily lives.

This trend is driving the growth of the Control & Connectivity market in Kuwait. Local special circumstances further contribute to the development of the Control & Connectivity market in Kuwait. The government of Kuwait has recognized the importance of technology and innovation in driving economic growth and development.

As a result, they have implemented policies and initiatives to support the growth of the technology sector. This includes providing incentives for companies to invest in research and development, as well as offering support for startups and entrepreneurs. These efforts have created a favorable environment for the Control & Connectivity market to thrive in Kuwait.

Underlying macroeconomic factors also play a role in the development of the Control & Connectivity market in Kuwait. The country has a strong economy with high levels of disposable income. This allows consumers to invest in technology and smart solutions that enhance their daily lives.

Additionally, Kuwait has a young and tech-savvy population that is eager to embrace new technologies. This demographic factor contributes to the growing demand for control and connectivity solutions in the market. In conclusion, the Control & Connectivity market in Kuwait is experiencing significant development and growth.

Customer preferences for convenience and efficiency, trends in the market driven by technological advancements, local special circumstances that support the technology sector, and underlying macroeconomic factors all contribute to this positive trajectory. As the market continues to evolve, it is expected to further expand and innovate to meet the changing needs of Kuwaiti consumers.

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.