Control & Connectivity - Togo | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$2.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.07%, resulting in a projected market volume of US$3.5m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 76.3k users by 2029.
Household penetration will be 2.1% in 2024 and is expected to hit 3.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$58.50.

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 Togo is experiencing steady growth due to increasing customer preferences for advanced technology and connectivity solutions.

Customer preferences: Customers in Togo are increasingly seeking advanced control and connectivity solutions to enhance their daily lives and improve efficiency in various sectors such as agriculture, manufacturing, and transportation. With the rise of digitalization and the Internet of Things (IoT), there is a growing demand for smart devices, sensors, and automation systems that can be seamlessly integrated into existing infrastructure. Additionally, customers are looking for reliable and secure connectivity options to stay connected with their devices and access real-time data.

Trends in the market: One of the key trends in the Control & Connectivity market in Togo is the adoption of IoT solutions across different industries. IoT technology enables the connection and communication between devices, allowing businesses to gather and analyze data for better decision-making and process optimization. This trend is particularly evident in sectors such as agriculture, where farmers are using IoT-enabled sensors to monitor soil moisture levels and optimize irrigation systems. Similarly, manufacturing companies are implementing IoT solutions to automate production processes and improve operational efficiency. Another trend in the market is the increasing demand for wireless connectivity solutions. With the proliferation of smartphones and other wireless devices, there is a growing need for reliable and high-speed wireless networks. This has led to the expansion of 4G and upcoming 5G networks in Togo, enabling faster and more seamless connectivity for both individuals and businesses. The demand for wireless connectivity is further fueled by the popularity of online services, such as e-commerce and digital banking, which require a stable and fast internet connection.

Local special circumstances: Togo is a developing country with a rapidly growing economy. The government has recognized the importance of digitalization and connectivity in driving economic growth and has implemented initiatives to promote the adoption of advanced technologies. For example, the government has launched the "Togo Digital 2025" strategy, which aims to transform Togo into a digital hub in West Africa. This strategy includes the development of digital infrastructure, the promotion of e-government services, and the support of digital entrepreneurship. These initiatives create a favorable environment for the growth of the Control & Connectivity market in Togo.

Underlying macroeconomic factors: The growth of the Control & Connectivity market in Togo is also influenced by underlying macroeconomic factors. Togo has experienced stable economic growth in recent years, supported by sectors such as agriculture, mining, and manufacturing. This economic growth has increased the purchasing power of individuals and businesses, leading to higher demand for control and connectivity solutions. Additionally, the government's focus on infrastructure development, including the expansion of telecommunications networks, has created opportunities for companies operating in the Control & Connectivity market. In conclusion, the Control & Connectivity market in Togo is witnessing growth due to increasing customer preferences for advanced technology and connectivity solutions. The adoption of IoT solutions, the demand for wireless connectivity, and the government's initiatives to promote digitalization are driving the market forward. With stable economic growth and a focus on infrastructure development, Togo presents a favorable environment for companies operating in the Control & Connectivity 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.