Smart Home - Morocco

  • Morocco
  • Revenue in the Smart Home market is projected to reach US$133.7m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.42%, resulting in a projected market volume of US$229.6m by 2029.
  • Household penetration will be 68.3% in 2024 and is expected to hit 79.4% by 2029.
  • The average revenue per installed Smart Home currently is expected to amount to US$16.61.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
 
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Analyst Opinion

Over the past few years, the Smart Home market in Morocco has been experiencing significant growth and transformation.

Customer preferences:
Moroccan consumers are increasingly seeking convenience, energy efficiency, and security in their homes, which has been driving the demand for smart home devices and systems. The desire for remote monitoring and control of home appliances and security features aligns with global trends towards connected living.

Trends in the market:
One notable trend in the Moroccan Smart Home market is the increasing adoption of voice-controlled smart assistants and devices. This trend is in line with the growing popularity of smart speakers and voice recognition technology globally. Moroccan consumers are also showing interest in smart lighting systems and thermostats to enhance energy efficiency and create a more comfortable living environment.

Local special circumstances:
Morocco's strategic location at the crossroads of Europe, Africa, and the Middle East has contributed to the influx of technology and innovation in the country. The government's focus on digital transformation and smart city initiatives has created a conducive environment for the development of the Smart Home market. Additionally, the country's young and tech-savvy population is driving the demand for smart home solutions.

Underlying macroeconomic factors:
The growing middle class in Morocco, coupled with increasing urbanization rates, has led to higher disposable incomes and a greater focus on lifestyle improvements. As a result, more Moroccan households are investing in smart home technologies to upgrade their living spaces and improve overall quality of life. Furthermore, advancements in telecommunications infrastructure and the availability of affordable smart devices are making it easier for consumers to adopt smart home solutions.

Methodology

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.

Overview

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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