Control & Connectivity - Taiwan | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$77.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.96%, resulting in a projected market volume of US$109.0m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 1.6m users by 2029.
Household penetration will be 9.9% in 2024 and is expected to hit 19.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$96.65.

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 Taiwan has been experiencing steady growth in recent years, driven by customer preferences for advanced technology and the increasing demand for connected devices. Customer preferences in Taiwan have shifted towards smart homes and smart devices that offer convenience and efficiency.

Consumers are increasingly looking for products that can be controlled remotely, such as smart lighting systems, thermostats, and security cameras. This trend is fueled by the growing adoption of smartphones and the desire for seamless integration between devices. Additionally, the rise of the Internet of Things (IoT) has further accelerated the demand for control and connectivity solutions, as more devices become connected and require management and monitoring capabilities.

In line with these customer preferences, the Control & Connectivity market in Taiwan has witnessed several key trends. Firstly, there has been a surge in the development and adoption of smart home systems. These systems allow users to control various aspects of their homes, such as lighting, temperature, and security, through a centralized platform.

This trend is driven by the increasing availability of affordable and user-friendly smart home solutions, as well as the growing awareness of the benefits of home automation. Another trend in the market is the integration of voice control technology. Voice assistants, such as Amazon Alexa and Google Assistant, have gained popularity in Taiwan, and many control and connectivity solutions now offer voice control capabilities.

This allows users to control their devices and systems through voice commands, providing a more intuitive and convenient user experience. Local special circumstances in Taiwan have also contributed to the growth of the Control & Connectivity market. Taiwan is known for its strong manufacturing industry and technological expertise, which has facilitated the development and production of control and connectivity solutions.

The presence of major technology companies in Taiwan, such as Asus and HTC, has also contributed to the market growth by driving innovation and competition. Underlying macroeconomic factors, such as the increasing disposable income and urbanization in Taiwan, have also played a role in the development of the Control & Connectivity market. As more people move to urban areas and experience higher living standards, the demand for smart home and connected devices is expected to continue growing.

Additionally, the government's focus on promoting smart city initiatives and digital transformation has created a favorable environment for the market. In conclusion, the Control & Connectivity market in Taiwan is experiencing growth due to customer preferences for smart devices and the increasing demand for connected solutions. The market is driven by trends such as the adoption of smart home systems and voice control technology.

Local special circumstances, including Taiwan's manufacturing industry and technological expertise, have also contributed to the market growth. Underlying macroeconomic factors, such as increasing disposable income and urbanization, further support the development 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.