Control & Connectivity - Sweden | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$284.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.03%, resulting in a projected market volume of US$459.1m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 2.1m users by 2029.
Household penetration will be 14.9% in 2024 and is expected to hit 38.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$361.70.

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 Sweden has been experiencing steady growth in recent years.

Customer preferences: Swedish customers have shown a strong preference for control and connectivity solutions that enhance their daily lives. With a high level of technological adoption and a tech-savvy population, there is a growing demand for smart home devices, IoT solutions, and other connected products. Customers in Sweden value convenience, efficiency, and sustainability, and they are willing to invest in products that offer these benefits.

Trends in the market: One of the key trends in the Control & Connectivity market in Sweden is the increasing adoption of smart home devices. Swedish households are embracing the concept of connected homes, where they can control various aspects of their living environment through their smartphones or voice assistants. This includes controlling lighting, heating, security systems, and even appliances. The convenience and energy-saving potential of smart home devices have made them highly desirable among Swedish consumers. Another trend in the market is the growing demand for IoT solutions in industries such as manufacturing, healthcare, and transportation. Swedish businesses are recognizing the potential of IoT technologies to improve efficiency, optimize processes, and enhance decision-making. IoT-enabled devices and sensors are being used to collect and analyze data, enabling businesses to make data-driven decisions and improve their operations. This trend is expected to continue as more industries in Sweden realize the benefits of IoT.

Local special circumstances: Sweden has a highly developed digital infrastructure, which has played a significant role in the growth of the Control & Connectivity market. The country has a high internet penetration rate, and its citizens have access to fast and reliable internet connections. This has created an environment conducive to the adoption of control and connectivity solutions. Additionally, the Swedish government has been actively promoting digitalization and innovation, providing support and incentives for businesses to invest in technology.

Underlying macroeconomic factors: The strong growth of the Control & Connectivity market in Sweden can also be attributed to favorable macroeconomic factors. The country has a stable economy with a high GDP per capita, which provides consumers with the purchasing power to invest in control and connectivity solutions. Furthermore, Sweden has a highly educated workforce and a culture of innovation, which has led to the development of cutting-edge technologies in the control and connectivity space. In conclusion, the Control & Connectivity market in Sweden is experiencing steady growth due to customer preferences for convenience and efficiency, the increasing adoption of smart home devices, the growing demand for IoT solutions in industries, the country's advanced digital infrastructure, and favorable macroeconomic factors. This market is expected to continue to expand as technology continues to evolve and customers seek innovative solutions to enhance their daily lives.

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.