Definition:
The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring, and regulation of functions in a private household.
The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation.
Devices whose primary function is not the automation or remote control of household equipment, e.g., smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.
Structure:
Smart Home is segmented into six main markets:
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 Samsung, LG, Amazon, Google, Ring, and Bosch, 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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
The Smart Home market in Greece is experiencing a notable growth trajectory, driven by a combination of factors unique to the region.
Customer preferences: Customers in Greece are increasingly drawn to the convenience and efficiency offered by smart home technology. The desire for greater control over household devices, energy savings, and enhanced security features are key factors influencing consumer preferences in the smart home market.
Trends in the market: One prominent trend in the Greek smart home market is the growing demand for interconnected smart devices that can be controlled remotely via smartphone applications. This trend is fueled by the need for seamless integration and ease of use. Additionally, the emphasis on energy efficiency and sustainability is driving the adoption of smart home solutions that monitor and optimize energy consumption.
Local special circumstances: Greece's unique geographical and climatic conditions play a role in shaping the smart home market trends. The country's warm climate and high energy costs have led to a focus on smart home solutions that offer effective climate control and energy management. Moreover, the increasing awareness of home security issues has contributed to the popularity of smart security systems among Greek consumers.
Underlying macroeconomic factors: The economic landscape in Greece, characterized by periods of instability and recovery, has influenced the smart home market in various ways. As the economy gradually improves, consumers are more willing to invest in smart home technology as a long-term solution for cost savings and convenience. Additionally, government initiatives and incentives aimed at promoting energy efficiency have further bolstered the adoption of smart home systems in the country.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights