Smart Appliances - Gambia | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$179.1k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.32%, resulting in a projected market volume of US$267.1k by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 6.5k users by 2029.
Household penetration will be 0.7% in 2024 and is expected to hit 1.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$59.40.

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 Gambia has been experiencing significant growth in recent years.

Customer preferences: Customers in Gambia have shown a growing interest in smart appliances due to their convenience and energy efficiency. Smart appliances offer features such as remote control, automation, and energy monitoring, which appeal to consumers who are looking for ways to simplify their daily tasks and reduce their energy consumption. Additionally, the increasing adoption of smart home technology in Gambia has also contributed to the demand for smart appliances.

Trends in the market: One of the key trends in the Smart Appliances market in Gambia is the growing popularity of smart refrigerators. These appliances offer features such as temperature control, inventory management, and energy efficiency, which are highly valued by consumers. The ability to remotely monitor and control the refrigerator's settings appeals to busy individuals who want to ensure that their food is stored at the optimal conditions. Another trend in the market is the rising demand for smart washing machines. These appliances offer features such as automatic detergent dispensing, customized wash cycles, and remote control, which make laundry tasks more convenient and efficient. The ability to monitor and control the washing machine remotely is particularly appealing to busy individuals who want to optimize their laundry routine.

Local special circumstances: Gambia has a growing middle class population, which has contributed to the increasing demand for smart appliances. As disposable incomes rise, consumers are willing to invest in appliances that offer convenience and energy efficiency. Additionally, the government of Gambia has been promoting energy conservation and sustainability, which has further fueled the demand for smart appliances that help reduce energy consumption.

Underlying macroeconomic factors: The economic stability and steady GDP growth in Gambia have created a favorable environment for the growth of the Smart Appliances market. The increasing urbanization and improving infrastructure in the country have also played a role in driving the demand for smart appliances. Furthermore, the availability of affordable internet connectivity and the growing penetration of smartphones have made it easier for consumers to adopt smart home technology, including smart appliances. In conclusion, the Smart Appliances market in Gambia is experiencing significant growth due to customer preferences for convenience and energy efficiency. The increasing adoption of smart home technology and the government's focus on energy conservation have also contributed to the market's development. The growing middle class population, economic stability, and improving infrastructure in Gambia have created a favorable environment for the growth of the Smart Appliances market.

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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