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 Iraq is experiencing a significant growth trajectory driven by various factors shaping consumer behavior and market dynamics.
Customer preferences: In Iraq, customers are increasingly seeking smart home solutions that offer convenience, security, and energy efficiency. With the rise of urbanization and a growing middle-class population, there is a greater demand for connected devices that can streamline daily tasks and enhance overall quality of life. Consumers in Iraq are showing a preference for smart home products that can be easily integrated into their existing homes without extensive renovations.
Trends in the market: One notable trend in the Iraqi Smart Home market is the adoption of smart security systems. As concerns about safety and security continue to be a top priority for consumers, there is a growing interest in smart cameras, doorbell cameras, and monitoring systems that can be remotely accessed and controlled. Additionally, smart lighting solutions are gaining popularity as they offer energy savings and customization options to users. The trend towards creating interconnected smart home ecosystems is also on the rise, with consumers looking for seamless integration between different devices and platforms.
Local special circumstances: Iraq's unique geopolitical landscape and infrastructure challenges play a role in shaping the Smart Home market in the country. The legacy of past conflicts and security concerns have led to a greater emphasis on home security solutions among consumers. Additionally, the irregularities in the power supply infrastructure have prompted a demand for smart energy management systems that can optimize electricity usage and reduce costs.
Underlying macroeconomic factors: The economic landscape in Iraq, characterized by a young population and increasing disposable income levels, is contributing to the growth of the Smart Home market. As more households have access to smartphones and high-speed internet connectivity, the foundation for smart home adoption is being laid. Furthermore, government initiatives to improve technology infrastructure and digital connectivity are creating an enabling environment for the expansion of the Smart Home market in Iraq.
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