Smart Home - Niger

  • Niger
  • Revenue in the Smart Home market is projected to reach US$9.9m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.26%, resulting in a projected market volume of US$19.2m by 2029.
  • Household penetration will be 24.9% in 2024 and is expected to hit 25.4% by 2029.
  • The average revenue per installed Smart Home currently is expected to amount to US$7.55.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
 
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Analyst Opinion

The Smart Home market in Niger is experiencing a gradual but steady growth, driven by increasing customer awareness and the adoption of smart technologies in households.

Customer preferences:
Customers in Niger are showing a growing interest in smart home devices that offer convenience, energy efficiency, and security. The demand for smart home products such as smart lighting, thermostats, and security cameras is on the rise as consumers seek to modernize their homes and improve their quality of life.

Trends in the market:
One of the key trends in the Smart Home market in Niger is the integration of smart home systems with mobile applications, allowing users to control their devices remotely. This trend is particularly appealing to tech-savvy consumers who value the convenience of managing their home environment from their smartphones. Additionally, the market is witnessing an increase in the availability of affordable smart home products, making them more accessible to a wider range of customers.

Local special circumstances:
Niger, being a developing country, is experiencing rapid urbanization and a growing middle class. As more people move to urban areas and experience an increase in disposable income, the demand for smart home technologies is expected to rise. Furthermore, the country's focus on infrastructure development and technological advancements is creating a conducive environment for the growth of the Smart Home market.

Underlying macroeconomic factors:
The economic stability and increasing GDP of Niger are contributing to the growth of the Smart Home market. As the country continues to develop and modernize, more households are likely to invest in smart home devices. Additionally, government initiatives to promote digitalization and innovation are further fueling the adoption of smart technologies across various sectors, including the residential market.

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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