Control & Connectivity - Senegal | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$4.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.51%, resulting in a projected market volume of US$6.4m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 133.6k users by 2029.
Household penetration will be 2.9% in 2024 and is expected to hit 4.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$62.09.

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 Senegal is experiencing significant growth and development.

Customer preferences: Customers in Senegal are increasingly demanding control and connectivity solutions to enhance their daily lives and businesses. With the rise of smart homes and smart cities, there is a growing need for technologies that enable remote control and monitoring of various devices and systems. Additionally, businesses are seeking connectivity solutions to improve their operations and increase efficiency.

Trends in the market: One of the key trends in the Control & Connectivity market in Senegal is the adoption of Internet of Things (IoT) technologies. IoT devices and sensors are being deployed in various sectors, including agriculture, healthcare, and transportation, to gather data and enable remote control and monitoring. This trend is driven by the increasing availability of affordable and reliable internet connectivity in the country. Another trend in the market is the integration of control and connectivity solutions with renewable energy systems. Senegal has been investing in renewable energy sources, such as solar power, and there is a growing demand for control and connectivity solutions that can optimize the performance and efficiency of these systems. This trend is also fueled by the government's push for sustainable development and reducing dependence on fossil fuels.

Local special circumstances: Senegal has a rapidly growing population, which creates a need for improved infrastructure and services. This includes control and connectivity solutions that can enhance the efficiency and reliability of public utilities, such as water and electricity supply. The government is actively investing in infrastructure development, providing opportunities for companies in the Control & Connectivity market. Furthermore, Senegal is positioning itself as a regional hub for technology and innovation. The government has implemented policies to attract foreign investment and support the growth of the technology sector. This has resulted in the establishment of tech hubs and incubators, which foster entrepreneurship and drive innovation in the Control & Connectivity market.

Underlying macroeconomic factors: Senegal has experienced steady economic growth in recent years, which has contributed to the development of the Control & Connectivity market. The country's GDP growth has been supported by sectors such as agriculture, manufacturing, and services, all of which require control and connectivity solutions to optimize operations. Additionally, the government has implemented policies and initiatives to promote digital transformation and improve access to internet connectivity. This has created an enabling environment for the growth of the Control & Connectivity market, as businesses and individuals are able to adopt and benefit from these technologies. In conclusion, the Control & Connectivity market in Senegal is witnessing significant growth and development, driven by customer preferences for control and connectivity solutions, as well as local special circumstances and underlying macroeconomic factors. The adoption of IoT technologies and integration with renewable energy systems are key trends in the market, while the government's focus on infrastructure development and technology innovation provides opportunities for companies in this sector.

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.