Smart Appliances - Burkina Faso | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$2.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.00%, resulting in a projected market volume of US$4.2m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 72.4k users by 2029.
Household penetration will be 0.8% in 2024 and is expected to hit 1.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$70.26.

Definition:

Smart Appliances market includes connected versions of all kinds of household appliances. This includes large appliances (fridges, washing machines, ovens etc.) as well as small appliances (microwaves, coffee machines, vacuum and mowing robots etc.), provided they are connected to the internet. An indirect connection via a local network is also possible, as long as the remote access and control of the respective appliances via the connection is given.

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 Irobot, LG, Samsung, Xiaomi, and other brands 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.

Directly or indirectly internet-controllable household appliances
Large appliances such as fridges, washing machines, dishwashers, ovens (e.g., Samsung Side-by-Side, E, 614 ℓ, LG GSXV90MCDE Side-by-Side )
Small appliances such as coffee machines (e.g., Bosch CTL636EB6), vacuum and mowing robots (e.g., Roborock S8 Pro Ultra Robot Vacuum Cleaner), microwaves (e.g., SARO SAMSUNG MJ2691)

Any other smart home device (partially also referred to as “appliances”)
Any non-connected household appliances
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Smart Appliances market in Burkina Faso is experiencing significant growth and development, driven by changing customer preferences and the increasing affordability of these products. Customer preferences in Burkina Faso are shifting towards smart appliances due to their convenience, energy efficiency, and ability to enhance daily life.

As consumers become more tech-savvy and aware of the benefits of smart appliances, they are increasingly opting for these products over traditional ones. Additionally, the rising middle class in Burkina Faso is willing to invest in smart appliances as a symbol of status and to keep up with global trends. Trends in the market show a growing demand for smart appliances in Burkina Faso.

With the increasing availability of internet connectivity and smartphone penetration, consumers are embracing the concept of a connected home. Smart appliances such as refrigerators, washing machines, and air conditioners are becoming popular choices for consumers looking to upgrade their homes. These appliances offer features such as remote control, energy monitoring, and smart scheduling, which appeal to the tech-savvy population in Burkina Faso.

Local special circumstances, such as the unreliable electricity supply in some parts of Burkina Faso, are also driving the demand for smart appliances. Many smart appliances are designed to be energy-efficient and can be programmed to optimize energy usage, making them ideal for areas with limited access to electricity. Additionally, the ability to remotely control and monitor these appliances allows consumers to make the most of the available electricity supply and minimize wastage.

Underlying macroeconomic factors, such as the growing economy and increasing disposable income in Burkina Faso, are contributing to the development of the smart appliances market. As the economy continues to grow, more consumers have the means to invest in smart appliances, driving the demand for these products. Additionally, the government of Burkina Faso is actively promoting the adoption of smart technologies, including smart appliances, as part of its efforts to modernize the country and improve the quality of life for its citizens.

This support from the government further encourages the growth of the smart appliances market in Burkina Faso. In conclusion, the Smart Appliances market in Burkina Faso is experiencing significant growth and development, driven by changing customer preferences, increasing affordability, and the support of the government. As consumers become more tech-savvy and aware of the benefits of smart appliances, the demand for these products is expected to continue to rise in Burkina Faso.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

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.

“Alexa, can you tell me something about smart speakers?” is just one of the many questions smart speakers can answer today, with people using and relying on these devices for a wide range of purposes. Smart speakers are devices powered by a voice-enabled virtual intelligent assistant and can work as central controlling hubs for smart homes. Indeed, capable of performing a vast array of functions, such devices are used not only for entertainment, but also for searching the web, answering questions, and many other activities, such as creating a shopping list and providing you with weather forecast. In line with the rising popularity of smart home technology, the prevalence of smart speakers in households has steadily grown and are today among consumers’ favorite electronic devices.