Control & Connectivity - Suriname

Revenue in the Control & Connectivity market is projected to reach US$112.5k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.81%, resulting in a projected market volume of US$135.6k by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 5.3k users by 2029.
Household penetration will be 2.2% in 2024 and is expected to hit 3.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$36.25.

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)

Control & Connectivity market in Suriname is experiencing significant growth due to several factors.

Customer preferences: Customers in Suriname are increasingly demanding control and connectivity solutions to enhance their daily lives and improve efficiency. The rise in smartphone usage and the need for seamless connectivity have driven the demand for control and connectivity products in the country. Additionally, the growing adoption of smart home technologies and the need for remote control of devices have further fueled the demand for control and connectivity solutions.

Trends in the market: One of the key trends in the control and connectivity market in Suriname is the increasing popularity of smart home technologies. Surinamese consumers are embracing the convenience and comfort that smart home devices offer. From smart thermostats and lighting systems to security cameras and door locks, the demand for these products is on the rise. This trend is expected to continue as more consumers become aware of the benefits and affordability of smart home technologies. Another trend in the market is the growing demand for wireless connectivity solutions. Suriname has witnessed a rapid increase in internet penetration in recent years, and consumers are increasingly relying on wireless connectivity for their devices. This has led to a surge in demand for wireless routers, modems, and other connectivity devices. The need for reliable and fast internet connections is driving the growth of the control and connectivity market in Suriname.

Local special circumstances: Suriname is a small country with a relatively small population, which presents unique challenges and opportunities for the control and connectivity market. While the market size may be smaller compared to larger countries, the relatively high level of disposable income among Surinamese consumers makes it an attractive market for control and connectivity products. Additionally, the government of Suriname has been actively promoting digitalization and the adoption of advanced technologies, creating a favorable environment for the growth of the control and connectivity market.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the control and connectivity market in Suriname. The country has experienced steady economic growth in recent years, which has resulted in an increase in consumer spending and disposable income. This has created a conducive environment for the growth of the control and connectivity market as consumers are more willing to invest in technologically advanced products. Furthermore, the government's focus on infrastructure development, including the expansion of internet connectivity, has played a significant role in driving the growth of the control and connectivity market. Improved infrastructure enables better access to control and connectivity products and services, thus stimulating market demand. In conclusion, the control and connectivity market in Suriname is witnessing significant growth driven by customer preferences for smart home technologies and wireless connectivity solutions. The local special circumstances, such as the small population size and the government's support for digitalization, create favorable conditions for market development. Additionally, underlying macroeconomic factors, including economic growth and infrastructure development, contribute to the expansion 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.