Control & Connectivity - Turkey | Statista Market Forecast

Revenue in the Control & Connectivity market is projected to reach US$119.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.85%, resulting in a projected market volume of US$199.2m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 4.9m users by 2029.
Household penetration will be 7.2% in 2024 and is expected to hit 24.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$83.86.

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 Turkey has been experiencing steady growth in recent years, driven by increasing customer preferences for advanced technology solutions, the growing need for seamless connectivity, and the country's favorable business environment. Customer preferences in the Control & Connectivity market in Turkey are shifting towards smart home automation and IoT (Internet of Things) solutions.

With the rapid advancements in technology, consumers are increasingly seeking products and services that offer convenience, efficiency, and enhanced connectivity. This has led to a surge in demand for smart home devices, such as smart thermostats, security systems, and lighting control systems. Additionally, the adoption of IoT solutions in various industries, including manufacturing, healthcare, and transportation, is further driving the demand for control and connectivity solutions in Turkey.

One of the key trends in the Control & Connectivity market in Turkey is the integration of artificial intelligence (AI) and machine learning (ML) technologies. AI and ML algorithms are being used to analyze and process large amounts of data generated by connected devices, enabling businesses to make more informed decisions and improve operational efficiency. This trend is particularly evident in industries such as manufacturing, where AI-powered control and connectivity solutions are being used to optimize production processes and reduce downtime.

Another trend in the market is the increasing adoption of cloud-based control and connectivity solutions. Cloud computing offers numerous benefits, including scalability, cost-effectiveness, and remote access to data and applications. As a result, businesses in Turkey are increasingly leveraging cloud-based platforms to manage and control their connected devices, enabling them to streamline operations and improve overall efficiency.

Local special circumstances in Turkey also contribute to the development of the Control & Connectivity market. The country has a young and tech-savvy population, which drives the demand for innovative and advanced technology solutions. Additionally, the Turkish government has been actively promoting digital transformation and investing in infrastructure development, creating a conducive environment for the growth of the Control & Connectivity market.

Underlying macroeconomic factors, such as Turkey's strong economic growth and increasing disposable income, also play a role in the development of the Control & Connectivity market. As the economy continues to expand, businesses and consumers have more financial resources to invest in control and connectivity solutions. Furthermore, the government's focus on digitalization and innovation is expected to further drive the growth of the market in the coming years.

In conclusion, the Control & Connectivity market in Turkey is experiencing steady growth, driven by customer preferences for advanced technology solutions, the adoption of smart home automation and IoT solutions, and the integration of AI and cloud computing technologies. The country's young and tech-savvy population, government support for digital transformation, and strong economic growth are also contributing to 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.