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
The Smart Home market in Qatar is experiencing a steady growth trajectory, driven by increasing consumer interest in connected technologies and home automation solutions.
Customer preferences: Consumers in Qatar are showing a growing preference for smart home devices that offer convenience, energy efficiency, and enhanced security. With a high percentage of tech-savvy individuals in the country, there is a strong demand for smart home products that can be controlled remotely via smartphones or voice assistants.
Trends in the market: One notable trend in the Smart Home market in Qatar is the integration of smart home technology in luxury real estate developments. Developers are incorporating smart home features right from the construction phase to attract affluent buyers looking for modern and sophisticated living spaces. Additionally, the increasing awareness about energy conservation and sustainability is driving the adoption of smart thermostats, lighting systems, and appliances in residential buildings.
Local special circumstances: Qatar's unique demographic profile, with a high percentage of expatriates and affluent residents, influences the Smart Home market in the country. Expatriates often seek smart home solutions that offer remote monitoring and control capabilities to ensure the safety and security of their homes when they are away. Moreover, the affluent population segment in Qatar is willing to invest in high-end smart home devices and systems to enhance their lifestyle and showcase their status.
Underlying macroeconomic factors: The growing urbanization and infrastructure development in Qatar, especially in cities like Doha, provide a conducive environment for the expansion of the Smart Home market. As the government continues to invest in smart city initiatives and sustainable urban planning, the demand for smart home technologies is expected to rise. Additionally, the high disposable income levels in the country support the affordability of smart home products among the target consumer base.
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