Smart Appliances - Gabon | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$613.4k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.17%, resulting in a projected market volume of US$951.3k by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 12.0k users by 2029.
Household penetration will be 1.0% in 2024 and is expected to hit 2.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$107.40.

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 Gabon is experiencing steady growth and development due to increasing customer preferences for convenience and energy efficiency.

Customer preferences: Customers in Gabon are increasingly seeking appliances that offer convenience and ease of use. Smart appliances, such as smart refrigerators and washing machines, are equipped with advanced features that allow users to control and monitor them remotely through their smartphones or other devices. This provides customers with the flexibility and convenience to manage their appliances from anywhere, saving them time and effort. Additionally, smart appliances offer enhanced functionality and efficiency, which is appealing to customers who value technology-driven solutions in their everyday lives.

Trends in the market: One of the key trends in the Smart Appliances market in Gabon is the growing demand for energy-efficient appliances. With rising concerns about climate change and the need to reduce energy consumption, customers are increasingly opting for appliances that are eco-friendly and energy-efficient. Smart appliances are designed to optimize energy usage and reduce wastage, making them a popular choice among environmentally conscious customers. Additionally, the Gabonese government has implemented regulations and incentives to promote energy efficiency, further driving the demand for smart appliances in the country. Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) technologies in smart appliances. These technologies enable appliances to learn and adapt to users' preferences and behaviors, providing personalized and customized experiences. For example, smart refrigerators can learn the types of food items stored and suggest recipes based on the available ingredients. This level of personalization is highly valued by customers in Gabon, as it enhances their overall user experience and makes their daily routines more efficient.

Local special circumstances: Gabon is a country with a growing middle class and increasing urbanization. As more people move to urban areas and adopt modern lifestyles, the demand for smart appliances is expected to rise. Urban dwellers in Gabon are more likely to have access to reliable internet connectivity and smartphones, making it easier for them to embrace smart home technologies. Additionally, the government's focus on infrastructure development and digitalization initiatives is creating a conducive environment for the adoption of smart appliances.

Underlying macroeconomic factors: The Smart Appliances market in Gabon is also influenced by underlying macroeconomic factors. Economic growth, rising disposable incomes, and changing consumer lifestyles are driving the demand for modern appliances, including smart appliances. As the Gabonese economy continues to develop, more households are able to afford and invest in smart appliances, boosting the market's growth. Furthermore, the increasing awareness about energy efficiency and environmental sustainability is shaping consumer preferences and driving the demand for smart appliances that align with these values. In conclusion, the Smart Appliances market in Gabon is experiencing growth and development due to increasing customer preferences for convenience and energy efficiency. The demand for smart appliances is driven by customers seeking appliances that offer advanced features, convenience, and energy efficiency. The integration of AI and ML technologies in smart appliances and the government's focus on infrastructure development and digitalization initiatives are also contributing to the market's growth. As the Gabonese economy continues to develop and consumer lifestyles evolve, the demand for smart appliances is expected to further increase in the country.

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.

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