Smart Appliances - Oman | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$5.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.42%, resulting in a projected market volume of US$7.8m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 55.2k users by 2029.
Household penetration will be 3.6% in 2024 and is expected to hit 6.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$186.50.

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 Oman is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Omani customers are increasingly seeking convenience and efficiency in their daily lives, leading to a growing demand for smart appliances. These appliances offer advanced features such as remote control, energy efficiency, and connectivity, which align with the preferences of modern consumers. The convenience of being able to control appliances through smartphones or voice assistants is particularly appealing to tech-savvy Omani consumers.

Trends in the market: One of the key trends in the Smart Appliances market in Oman is the increasing adoption of smart home systems. These systems integrate various smart appliances, allowing consumers to control and monitor their homes remotely. This trend is driven by the desire for a connected and automated living environment, where appliances can communicate with each other and respond to user preferences. Another trend is the focus on energy efficiency. With rising electricity costs and growing environmental concerns, Omani consumers are becoming more conscious of their energy consumption. Smart appliances offer features such as energy monitoring and scheduling, enabling users to optimize their energy usage and reduce their carbon footprint.

Local special circumstances: Oman has a high smartphone penetration rate, with a large portion of the population owning smartphones. This widespread smartphone usage provides a strong foundation for the adoption of smart appliances, as these devices can be controlled through mobile apps. Additionally, the government of Oman has been actively promoting smart home technologies, providing incentives and subsidies to encourage their adoption.

Underlying macroeconomic factors: The growing economy of Oman is contributing to the development of the Smart Appliances market. As disposable incomes rise, consumers have more purchasing power to invest in advanced appliances. Furthermore, the government's focus on diversifying the economy and promoting innovation has created a favorable environment for the growth of the smart appliances industry. In conclusion, the Smart Appliances market in Oman is witnessing growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As Omani consumers increasingly seek convenience, efficiency, and energy savings, the demand for smart appliances is expected to continue to rise. The widespread smartphone usage, government support, and a growing economy further contribute to the positive outlook for the 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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