Control & Connectivity - Western Asia

Revenue in the Control & Connectivity market is projected to reach US$245.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.90%, resulting in a projected market volume of US$411.3m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 5.5m users by 2029.
Household penetration will be 6.6% in 2024 and is expected to hit 12.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$88.69.

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 Western Asia is experiencing significant growth and development. Customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory.

Customer preferences in the Control & Connectivity market in Western Asia are driving the demand for advanced technologies and seamless connectivity. Customers in this region are increasingly seeking solutions that offer convenience, efficiency, and enhanced connectivity. They are looking for products and services that can streamline their operations, improve productivity, and provide a seamless user experience.

As a result, there is a growing demand for smart home devices, Internet of Things (IoT) solutions, and connected technologies. Trends in the market indicate a shift towards automation and digitization. Companies in Western Asia are embracing Industry 4.

0 technologies and investing in automation solutions to optimize their operations. This trend is driven by the need for increased efficiency, cost savings, and improved productivity. Additionally, there is a growing emphasis on cybersecurity as organizations aim to protect their data and networks from cyber threats.

As a result, there is an increasing demand for secure connectivity solutions and robust cybersecurity measures. Local special circumstances in Western Asia also contribute to the development of the Control & Connectivity market. The region has a young and tech-savvy population that is driving the adoption of new technologies.

Additionally, Western Asia is home to several tech hubs and innovation centers, attracting investments and fostering technological advancements. These factors create a conducive environment for the growth of the Control & Connectivity market. Underlying macroeconomic factors further support the development of the Control & Connectivity market in Western Asia.

The region has been experiencing rapid economic growth, which has led to increased consumer spending power. This, coupled with favorable government policies and initiatives to promote digital transformation, has created a favorable business environment for companies operating in the Control & Connectivity market. Additionally, Western Asia is strategically located, serving as a gateway between Europe, Asia, and Africa, which further enhances its potential as a regional hub for technology and connectivity.

In conclusion, the Control & Connectivity market in Western Asia is witnessing significant growth and development. Customer preferences for advanced technologies and seamless connectivity, emerging trends towards automation and digitization, local special circumstances such as a young and tech-savvy population, and underlying macroeconomic factors including rapid economic growth and favorable government policies all contribute to the positive trajectory of this 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.