Control & Connectivity - Malawi | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$2.1m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.21%, resulting in a projected market volume of US$3.5m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 123.2k users by 2029.
Household penetration will be 1.5% in 2024 and is expected to hit 2.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$33.33.

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 Malawi is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Malawi are shifting towards increased connectivity and control in various industries.

With the rise of digitalization and the Internet of Things (IoT), businesses and individuals are seeking solutions that allow them to monitor and control devices and systems remotely. This includes applications in sectors such as agriculture, manufacturing, energy, and healthcare. The demand for control and connectivity solutions is driven by the need for efficiency, productivity, and cost savings.

Trends in the market indicate a growing adoption of control and connectivity technologies in Malawi. Companies are investing in smart devices, sensors, and software platforms to enable real-time monitoring and control of their operations. This allows them to optimize processes, reduce downtime, and improve decision-making.

Additionally, the increasing availability of affordable and reliable internet connectivity in the country is driving the adoption of cloud-based control and connectivity solutions. Local special circumstances in Malawi also contribute to the development of the Control & Connectivity market. The country has a growing population and an expanding middle class, which creates a larger consumer base for control and connectivity products and services.

Furthermore, Malawi has a strong agricultural sector, and the adoption of control and connectivity technologies in this industry can have a significant impact on productivity and food security. Underlying macroeconomic factors also play a role in the development of the Control & Connectivity market in Malawi. The government has recognized the importance of digitalization and connectivity in driving economic growth and has implemented policies to support the adoption of these technologies.

This includes initiatives to improve internet infrastructure, promote digital literacy, and attract investment in the tech sector. Additionally, the country's stable political environment and favorable business climate provide a conducive environment for companies to invest in control and connectivity solutions. In conclusion, the Control & Connectivity market in Malawi is experiencing growth and development driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The demand for control and connectivity solutions is fueled by the need for efficiency and productivity across various industries. The adoption of these technologies is supported by the availability of affordable internet connectivity, a growing population, a strong agricultural sector, and government initiatives to promote digitalization.

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.