Control & Connectivity - Romania | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$70.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.62%, resulting in a projected market volume of US$146.6m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 1.5m users by 2029.
Household penetration will be 6.4% in 2024 and is expected to hit 19.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$142.90.

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 Romania has been experiencing significant growth in recent years, driven by customer preferences for advanced technology solutions, increasing digitalization, and favorable local special circumstances. Customer preferences in the Control & Connectivity market in Romania are shifting towards more advanced and integrated solutions.

With the growing adoption of smart devices and the Internet of Things (IoT), customers are seeking control and connectivity solutions that offer seamless integration and compatibility across multiple devices and platforms. This includes features such as remote monitoring and control, energy management, and home automation. Additionally, customers are increasingly looking for solutions that provide enhanced security and privacy measures to protect their data and personal information.

The market is also being driven by the increasing digitalization of various industries in Romania. As businesses and organizations across sectors such as manufacturing, healthcare, and transportation continue to embrace digital transformation, the demand for control and connectivity solutions is growing. These solutions enable companies to optimize their operations, improve efficiency, and enhance overall productivity.

Furthermore, the COVID-19 pandemic has accelerated the adoption of digital technologies, as organizations seek to adapt to remote work and virtual collaboration. In addition to customer preferences and digitalization, there are several local special circumstances that are contributing to the development of the Control & Connectivity market in Romania. Firstly, the country has a strong and growing IT sector, with a skilled workforce and a favorable business environment for technology companies.

This has attracted both domestic and international players to invest in the development and deployment of control and connectivity solutions in the market. Furthermore, Romania has a high internet penetration rate, with a large percentage of the population having access to high-speed internet connections. This infrastructure enables the widespread adoption of control and connectivity solutions, as users can easily connect and control their devices remotely.

Additionally, the government has been supportive of digital initiatives and has implemented policies and incentives to promote the adoption of advanced technologies, further fueling the growth of the Control & Connectivity market. Underlying macroeconomic factors also play a role in the development of the Control & Connectivity market in Romania. The country has experienced steady economic growth in recent years, which has increased consumer purchasing power and the willingness to invest in technology solutions.

Additionally, the rise of e-commerce and online retail has created new opportunities for control and connectivity providers, as businesses seek to enhance their online presence and improve customer experiences. Overall, the Control & Connectivity market in Romania is experiencing significant growth due to customer preferences for advanced technology solutions, increasing digitalization, favorable local special circumstances, and underlying macroeconomic factors. As the market continues to evolve and mature, it is expected to present new opportunities for innovation and expansion 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.