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The Smart Home market in Eastern Europe is experiencing a surge in demand as customers increasingly seek convenience and efficiency in their daily lives.
Customer preferences: Customers in Eastern Europe are gravitating towards smart home devices that offer convenience, energy efficiency, and enhanced security. The desire for seamless integration and remote access to home appliances and systems is a key driver in the adoption of smart home technology.
Trends in the market: In countries like Poland and Hungary, there is a growing trend towards the implementation of smart home solutions that can help reduce energy consumption and lower utility costs. Home automation systems that allow for remote monitoring and control of heating, lighting, and security systems are becoming increasingly popular.
Local special circumstances: In Eastern European countries with harsh winters such as Russia and Ukraine, there is a particular emphasis on smart thermostats and heating systems that can help regulate indoor temperatures efficiently. Additionally, the focus on home security solutions is heightened in regions where burglary rates are a concern.
Underlying macroeconomic factors: The increasing affordability of smart home devices, coupled with rising disposable incomes in Eastern Europe, is fueling the growth of the market. Technological advancements and the availability of a wide range of smart home products are also contributing to the expansion of the smart home market in the region.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)