Control & Connectivity - North Macedonia

Revenue in the Control & Connectivity market is projected to reach US$1.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.82%, resulting in a projected market volume of US$1.6m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 45.8k users by 2029.
Household penetration will be 4.6% in 2024 and is expected to hit 8.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$46.08.

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 North Macedonia is experiencing significant growth and development.

Customer preferences: Customers in North Macedonia are increasingly demanding control and connectivity solutions to enhance their daily lives and improve efficiency. With the rise of smart homes and the Internet of Things (IoT), there is a growing need for products and services that allow for seamless integration and control of various devices and systems. Customers are looking for solutions that offer convenience, security, and energy efficiency. They are also seeking products that are easy to use and provide a high level of customization to meet their specific needs.

Trends in the market: One of the key trends in the Control & Connectivity market in North Macedonia is the adoption of smart home technology. As more households embrace connected devices and systems, there is a growing demand for control and connectivity solutions that can integrate and manage these devices. This includes smart thermostats, lighting systems, security systems, and entertainment systems. The ability to control and monitor these devices remotely through smartphones or voice assistants is becoming increasingly popular. Another trend in the market is the increasing use of cloud-based solutions. Cloud technology allows for centralized control and connectivity, making it easier for customers to manage and monitor their devices and systems. This trend is driven by the need for scalability, flexibility, and data security. Cloud-based solutions also enable seamless integration with other smart devices and systems, creating a more connected and efficient ecosystem.

Local special circumstances: North Macedonia is a small country with a developing economy. However, it has a growing tech-savvy population that is eager to adopt new technologies. The government is also actively promoting the digital transformation of various sectors, including healthcare, energy, and transportation. This creates a favorable environment for the growth of the Control & Connectivity market.

Underlying macroeconomic factors: The growth of the Control & Connectivity market in North Macedonia is supported by several macroeconomic factors. One of the key factors is the increasing internet penetration rate in the country. As more people gain access to the internet, the demand for control and connectivity solutions is expected to rise. Additionally, the country's improving economic conditions and rising disposable incomes contribute to the growing market. In conclusion, the Control & Connectivity market in North Macedonia is experiencing significant growth and development. Customer preferences for convenience, security, and energy efficiency are driving the demand for control and connectivity solutions. The adoption of smart home technology and cloud-based solutions are key trends in the market. The country's tech-savvy population, government support for digital transformation, increasing internet penetration rate, and improving economic conditions are the underlying macroeconomic factors contributing to the growth of the market.

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.