Smart Appliances - Morocco

Morocco

Revenue in the Smart Appliances market is projected to reach US$63.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.11%, resulting in a projected market volume of US$107.7m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 1.5m users by 2029.
Household penetration will be 8.0% in 2024 and is expected to hit 18.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$104.80.

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Analyst Opinion

The Smart Appliances market in Morocco is experiencing significant growth and development.

Customer preferences: Moroccan consumers are increasingly seeking smart appliances that offer convenience, energy efficiency, and connectivity. With the rise of smart homes and the Internet of Things (IoT), there is a growing demand for appliances that can be controlled remotely through mobile devices. Additionally, consumers are becoming more conscious of their energy consumption and are looking for appliances that are energy-efficient and environmentally friendly.

Trends in the market: One of the key trends in the Smart Appliances market in Morocco is the increasing adoption of smart kitchen appliances. Moroccan households are embracing smart refrigerators, ovens, and dishwashers that offer features such as remote temperature control, recipe suggestions, and energy monitoring. These appliances not only make cooking and food storage more convenient but also help in reducing energy wastage. Another trend is the integration of voice control technology in smart appliances. Moroccan consumers are showing a growing interest in voice-activated appliances that can be controlled through virtual assistants such as Amazon Alexa or Google Assistant. This allows for hands-free operation and adds an extra layer of convenience to daily household tasks.

Local special circumstances: Morocco has a rapidly growing middle class with increasing disposable income. This has led to a higher demand for smart appliances as consumers are willing to invest in products that offer convenience and advanced features. Additionally, the government of Morocco has been actively promoting energy efficiency and sustainability initiatives, which has further boosted the demand for smart appliances that help in reducing energy consumption.

Underlying macroeconomic factors: The Moroccan economy has been experiencing steady economic growth, which has positively impacted consumer spending power. This, coupled with favorable government policies and incentives, has created a conducive environment for the growth of the Smart Appliances market in Morocco. Furthermore, the increasing urbanization and modernization of Moroccan cities have led to a greater adoption of smart home technologies, driving the demand for smart appliances. In conclusion, the Smart Appliances market in Morocco is witnessing significant growth due to changing customer preferences, including a demand for convenience, energy efficiency, and connectivity. The integration of smart technologies and voice control in appliances is a key trend in the market. Local special circumstances, such as the growing middle class and government initiatives promoting sustainability, further contribute to the market's development. The underlying macroeconomic factors, including steady economic growth and urbanization, provide a favorable environment for the growth of the Smart Appliances market in Morocco.

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.