Control & Connectivity - Oman | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$6.8m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.88%, resulting in a projected market volume of US$9.0m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 115.1k users by 2029.
Household penetration will be 8.4% in 2024 and is expected to hit 13.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$103.40.

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 Oman has been experiencing steady growth over the past few years, driven by increasing customer preferences for advanced control and connectivity solutions.

Customer preferences: Omani customers are increasingly demanding control and connectivity solutions that offer seamless integration and enhanced functionality. They are looking for products that can connect and control multiple devices, such as smart homes, industrial automation systems, and transportation networks. This demand is fueled by the need for greater convenience, efficiency, and security in various sectors, including residential, commercial, and industrial.

Trends in the market: One of the key trends in the Control & Connectivity market in Oman is the adoption of Internet of Things (IoT) technology. IoT enables devices to connect and communicate with each other, allowing for greater automation, data collection, and analysis. This trend is driving the demand for control and connectivity solutions that can seamlessly integrate with IoT devices and platforms. Another trend in the market is the increasing use of cloud-based control and connectivity solutions. Cloud technology offers scalability, flexibility, and cost-efficiency, making it an attractive option for businesses and individuals in Oman. Cloud-based solutions allow for remote monitoring, control, and management of devices, providing greater convenience and accessibility.

Local special circumstances: Oman's strategic location and its focus on diversifying its economy have contributed to the growth of the Control & Connectivity market. The country is investing in infrastructure development and digital transformation initiatives, creating opportunities for control and connectivity solution providers. Additionally, Oman is experiencing rapid urbanization and population growth, driving the demand for smart city solutions and intelligent transportation systems.

Underlying macroeconomic factors: The growth of the Control & Connectivity market in Oman is also influenced by macroeconomic factors. The country has a stable political environment and a favorable business climate, attracting foreign investments and fostering innovation. Additionally, Oman has a high internet penetration rate and a tech-savvy population, creating a conducive environment for the adoption of control and connectivity solutions. In conclusion, the Control & Connectivity market in Oman is developing due to increasing customer preferences for advanced control and connectivity solutions. The adoption of IoT technology, the use of cloud-based solutions, and the country's special circumstances and macroeconomic factors are driving the growth of the market. As Oman continues to invest in infrastructure development and digital transformation, the demand for control and connectivity solutions is expected to further increase in the coming years.

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.