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 Kenya is rapidly gaining popularity among consumers, with an increasing number of households opting for automated solutions to enhance convenience and efficiency in their daily lives.
Customer preferences: Consumers in Kenya are showing a growing preference for smart home devices that offer energy efficiency, security, and convenience. This trend is in line with global preferences, where individuals are increasingly seeking ways to streamline their daily tasks and reduce energy consumption through smart technology.
Trends in the market: One notable trend in the Kenyan smart home market is the adoption of affordable and user-friendly smart devices. As technology becomes more accessible and affordable, more households in Kenya are investing in smart solutions such as smart lighting, thermostats, and security systems. This trend is driven by the desire for modernization and the convenience that smart technology offers.
Local special circumstances: Kenya's smart home market is also influenced by local factors such as infrastructure development and urbanization. As urban centers in Kenya continue to grow, there is an increased demand for smart home solutions that can enhance security and energy efficiency in high-density areas. Additionally, the country's focus on sustainable development is driving the adoption of smart devices that promote energy conservation and environmental sustainability.
Underlying macroeconomic factors: The growing middle-class population in Kenya, coupled with increasing internet penetration and smartphone adoption, is fueling the demand for smart home technology. As disposable incomes rise and technology becomes more accessible, more Kenyan consumers are willing to invest in smart devices to improve their quality of life. Furthermore, government initiatives to promote digital innovation and smart city development are creating a conducive environment for the growth of the smart home market in Kenya.
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