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
Smart Home technology in Israel is rapidly gaining popularity among consumers, driven by a combination of factors unique to the region.
Customer preferences: Consumers in Israel are increasingly seeking convenience, security, and energy efficiency in their homes, which aligns with the global trend towards smart home technology. The desire for greater control over household devices and the ability to monitor them remotely is fueling the demand for smart home solutions.
Trends in the market: One notable trend in the Israeli smart home market is the emphasis on home security and surveillance systems. With the country's geopolitical situation and security concerns, Israeli consumers prioritize technologies that enhance the safety and protection of their homes. As a result, there is a growing adoption of smart locks, cameras, and alarm systems in the market.
Local special circumstances: Israel's strong technology sector and culture of innovation play a significant role in the development of the smart home market. The presence of numerous tech startups and a tech-savvy population drive the creation and adoption of cutting-edge smart home solutions. Additionally, the country's high internet penetration rate and advanced infrastructure provide a solid foundation for the growth of the smart home market.
Underlying macroeconomic factors: The growing urbanization and population density in Israel's major cities contribute to the demand for smart home technology. As more people move into urban areas, the need for efficient and connected living spaces increases, driving the adoption of smart home devices. Additionally, the government's initiatives to promote energy efficiency and sustainability also play a role in shaping the smart home market in Israel.
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