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Smart Home - Myanmar

Myanmar
  • Revenue in the Smart Home market is projected to reach US$128.8m in 2025.
  • Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 11.10%, resulting in a projected market volume of US$196.2m by 2029.
  • Household penetration will be 46.9% in 2025 and is expected to hit 56.3% by 2029.
  • The average revenue per installed Smart Home currently is expected to amount to US$19.08.
  • A global comparison reveals that most revenue is generated United States (US$43.0bn in 2025).

Revenue

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

Key Players

Most recent update: Mar 2024

Source: Statista Market Insights

Product Types

Most recent update: Oct 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Oct 2024

Source: Statista Market Insights

Analyst Opinion

The Smart Home market in Myanmar is witnessing a gradual but steady growth in recent years.

Customer preferences:
Customers in Myanmar are increasingly drawn to smart home devices that offer convenience, energy efficiency, and enhanced security. This aligns with global trends where consumers are seeking ways to simplify their lives and make their homes more technologically advanced.

Trends in the market:
One notable trend in the Smart Home market in Myanmar is the increasing availability and affordability of smart devices. As technology becomes more accessible, more households are adopting smart home solutions. Additionally, the rise of urbanization in Myanmar is driving the demand for smart home technologies as city dwellers seek modern and efficient living solutions.

Local special circumstances:
Myanmar's unique market characteristics, such as its growing middle class and improving infrastructure, are contributing to the development of the Smart Home market. The country's expanding internet penetration and smartphone usage are also playing a significant role in driving the adoption of smart home devices among tech-savvy consumers.

Underlying macroeconomic factors:
The improving economic conditions in Myanmar, coupled with rising disposable incomes, are enabling more consumers to invest in smart home technologies. As the overall standard of living in the country continues to improve, the demand for smart home devices is expected to increase further. Additionally, government initiatives to promote digitalization and technology adoption are creating a conducive environment for the growth of the Smart Home market in Myanmar.

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.

Consumer

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Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Jan 2025

Source: Statista Market Insights

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Smart home - statistics & facts

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.
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