Smart Home - Bahrain

Bahrain

The Smart Home market in Bahrain is projected to achieve a revenue of US$6.5m BHD in 2024.
This figure is expected to experience a steady annual growth rate of 11.09% (CAGR 2024-2028), leading to a projected market volume of US$9.9m BHD by 2028.
In terms of the number of active households, it is anticipated that in Bahrain will have approximately [users_currentlayer_yearend] households engaged in the Smart Home market by 2028.
The household penetration rate, which gauges the percentage of households adopting Smart Home market technology, is projected to rise from 10.3% in 2024 to 15.8% by 2028.
Currently, the average revenue per installed Smart Home market in Bahrain is estimated to be US$322.80 BHD.
When comparing in Bahrain to other countries globally, it is worth noting that United States generates the highest revenue in the Smart Home market, reaching a staggering US$38,800.0m BHD in 2024.
The smart home market in Bahrain is experiencing a surge in demand for voice-controlled devices and home security systems.

Key regions: United States, United Kingdom, Germany, Europe, Norway

Market

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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 segment. 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 digital products and services 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 twice a year in case market dynamics change.