Definition:
The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring, and regulation of functions in a private household.
The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation.
Devices whose primary function is not the automation or remote control of household equipment, e.g., smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.
Structure:
Smart Home is segmented into six main markets:
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 Samsung, LG, Amazon, Google, Ring, and Bosch, 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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
The Smart Home market in Zimbabwe has been steadily growing in recent years, driven by increasing consumer interest in connected devices and home automation technologies.
Customer preferences: In Zimbabwe, customers are showing a growing preference for smart home devices that offer convenience, energy efficiency, and enhanced security. This trend is in line with global consumer preferences, where individuals are increasingly looking for ways to make their homes smarter and more connected.
Trends in the market: One of the key trends in the Smart Home market in Zimbabwe is the adoption of smart security systems, including smart cameras, doorbell cameras, and smart locks. As safety and security concerns continue to be a top priority for homeowners, the demand for these devices is on the rise. Additionally, smart lighting and climate control systems are also gaining popularity among consumers in Zimbabwe, as they offer both convenience and energy savings.
Local special circumstances: Zimbabwe's Smart Home market is also influenced by local special circumstances, such as the country's unreliable power supply. As a result, there is a growing interest in smart home devices that can help manage and optimize energy usage, allowing consumers to mitigate the impact of frequent power outages. This unique challenge has led to an increased demand for smart energy management solutions in the Zimbabwean market.
Underlying macroeconomic factors: The growth of the Smart Home market in Zimbabwe is further supported by improving internet infrastructure and the increasing affordability of smart devices. As access to high-speed internet becomes more widespread across the country, more households are able to connect and control their smart home devices remotely. Additionally, the declining prices of smart home products are making these technologies more accessible to a larger segment of the population, further driving market growth.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights