Control & Connectivity - Moldova | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$3.1m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.92%, resulting in a projected market volume of US$4.2m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 120.4k users by 2029.
Household penetration will be 8.4% in 2024 and is expected to hit 15.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$45.04.

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 Moldova is experiencing steady growth due to increasing customer preferences for advanced technology and connectivity solutions.

Customer preferences: Customers in Moldova are increasingly demanding innovative control and connectivity solutions to enhance their daily lives and improve efficiency in various sectors. The rising adoption of smart home devices, such as smart thermostats and security systems, is driving the demand for control and connectivity products. Additionally, businesses in Moldova are investing in advanced control and connectivity solutions to streamline their operations and improve productivity.

Trends in the market: One of the key trends in the Control & Connectivity market in Moldova is the growing popularity of Internet of Things (IoT) devices. These devices, such as smart home appliances and wearable technology, are becoming more prevalent as customers seek to automate and control various aspects of their lives. The demand for IoT devices is expected to continue growing as more companies introduce innovative products to the market. Another trend in the market is the increasing integration of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to develop advanced control and connectivity solutions that can learn and adapt to user preferences. AI-powered voice assistants, for example, are becoming more common in households and businesses in Moldova, allowing users to control various devices and access information with voice commands.

Local special circumstances: Moldova is a small country with a relatively low GDP per capita compared to other European countries. However, the government has been actively promoting the development of the information technology sector, which includes the Control & Connectivity market. This has attracted investments from both local and international companies, driving the growth of the market. Additionally, the relatively low cost of labor in Moldova has made it an attractive destination for outsourcing control and connectivity services, further contributing to market growth.

Underlying macroeconomic factors: The Control & Connectivity market in Moldova is influenced by several macroeconomic factors. The country's stable political environment and favorable business climate have encouraged investment and entrepreneurship, creating opportunities for companies operating in the market. Furthermore, the increasing internet penetration rate in Moldova has facilitated the adoption of control and connectivity solutions, as more people have access to online services and devices. The government's focus on digitalization and technological advancements is also driving the growth of the market, as it encourages the development and adoption of innovative solutions.

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.