Smart Appliances - Uganda | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$9.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.97%, resulting in a projected market volume of US$17.8m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 257.6k users by 2029.
Household penetration will be 1.2% in 2024 and is expected to hit 2.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$81.86.

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 Uganda has been experiencing significant growth in recent years. Customer preferences are shifting towards more advanced and convenient home appliances, which has led to an increase in the demand for smart appliances.

Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market. Customer preferences in Uganda are increasingly focused on convenience and efficiency. With the rise of smart homes and the Internet of Things (IoT), consumers are looking for appliances that can be controlled remotely and provide real-time data.

Smart appliances offer features such as remote control, energy efficiency, and automation, which align with these preferences. As a result, there has been a growing demand for smart refrigerators, washing machines, air conditioners, and other household appliances in Uganda. Trends in the market show that consumers are willing to invest in smart appliances due to their long-term cost savings and convenience.

For example, smart refrigerators can help users keep track of their food inventory and expiration dates, reducing food waste and saving money. Similarly, smart washing machines can optimize water and energy usage, leading to lower utility bills. These cost-saving benefits, combined with the growing awareness of environmental sustainability, have contributed to the increasing adoption of smart appliances in Uganda.

Local special circumstances also play a role in the development of the Smart Appliances market in Uganda. The country has a relatively high urbanization rate, with a significant portion of the population living in urban areas. Urban dwellers tend to have higher incomes and are more likely to invest in smart appliances.

Additionally, the government of Uganda has been promoting the use of renewable energy sources, such as solar power, which aligns with the energy-efficient features of smart appliances. These factors have created a favorable environment for the growth of the smart appliances market in Uganda. Underlying macroeconomic factors have also contributed to the development of the Smart Appliances market in Uganda.

The country has been experiencing steady economic growth, which has resulted in an increase in disposable income. As a result, consumers have more purchasing power and are more likely to invest in higher-end appliances, including smart appliances. Furthermore, advancements in technology and the increasing availability of internet connectivity have made it easier for consumers to connect and control their smart appliances, further driving the market growth.

In conclusion, the Smart Appliances market in Uganda is developing due to shifting customer preferences towards convenience and efficiency, as well as local special circumstances and underlying macroeconomic factors. As consumers become more aware of the cost-saving benefits and environmental advantages of smart appliances, the demand for these products is expected to continue growing in the coming years.

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.