Control & Connectivity - Papua New Guinea

Papua New Guinea

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 8.59%, resulting in a projected market volume of US$3.1m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 82.5k users by 2029.
Household penetration will be 2.2% in 2024 and is expected to hit 3.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$46.81.

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Analyst Opinion

The Control & Connectivity market in Papua New Guinea is experiencing significant growth and development.

Customer preferences: Customers in Papua New Guinea are increasingly demanding advanced control and connectivity solutions to enhance their daily lives and improve their business operations. With the rapid advancement of technology, there is a growing need for smart homes, smart cities, and smart industries. Customers are looking for solutions that can provide them with greater convenience, efficiency, and security. They are seeking control and connectivity products that can seamlessly integrate with their existing systems and devices, allowing them to monitor and control various aspects of their lives remotely.

Trends in the market: One of the key trends in the Control & Connectivity market in Papua New Guinea is the adoption of Internet of Things (IoT) technology. IoT devices are becoming more prevalent in homes, offices, and industries, enabling the connection and control of various devices and systems through the internet. This trend is driven by the increasing availability of affordable and reliable internet connectivity in the country. As more people gain access to the internet, the demand for IoT devices and solutions is expected to grow. Another trend in the market is the shift towards wireless connectivity. Customers are increasingly opting for wireless control and connectivity solutions, as they offer greater flexibility and convenience compared to traditional wired systems. Wireless technologies such as Wi-Fi, Bluetooth, and Zigbee are being widely adopted in homes and businesses, enabling seamless communication between devices and systems.

Local special circumstances: Papua New Guinea is a developing country with a growing middle class. As the economy continues to expand, more people are able to afford control and connectivity solutions. However, the market is still relatively nascent compared to more developed countries. This presents both opportunities and challenges for businesses operating in the Control & Connectivity market in Papua New Guinea.

Underlying macroeconomic factors: The growth of the Control & Connectivity market in Papua New Guinea is supported by several macroeconomic factors. The government is actively promoting the development of the ICT sector, including control and connectivity solutions. This is reflected in the implementation of various policies and initiatives aimed at improving internet infrastructure and connectivity in the country. Furthermore, the increasing urbanization in Papua New Guinea is driving the demand for smart city solutions. As more people move to urban areas, there is a need for efficient and sustainable infrastructure, including control and connectivity systems. This presents opportunities for businesses to provide innovative solutions that can improve the quality of life in cities. In conclusion, the Control & Connectivity market in Papua New Guinea is experiencing significant growth and development. Customer preferences for advanced control and connectivity solutions, the adoption of IoT technology, and the shift towards wireless connectivity are driving the market. The local special circumstances, including the growing middle class and government support for the ICT sector, are also contributing to the market's growth.

Methodology

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.