Smart Home - Bangladesh

Bangladesh

The projected revenue in the Smart Home market for Bangladesh is expected to reach US$476.6m in 2024.
This indicates a positive growth trend for the country's Smart Home market.
Additionally, it is estimated that the market will continue to expand at an annual growth rate of 12.39% from 2024 to 2028.
As a result, the projected market volume is expected to reach US$760.5m by 2028.
In terms of household participation, the number of active households in the Smart Home market is projected to reach [users_currentlayer_yearend] by 2028 in Bangladesh.
This suggests a growing interest and adoption of Smart Home market technologies among households in the country.
Household penetration, which measures the proportion of households that have adopted Smart Home market technologies, is expected to increase from 4.8% in 2024 to 8.1% by 2028.
Currently, the average revenue per installed Smart Home market in Bangladesh is expected to amount to US$254.60.
This indicates the average amount of revenue generated per Smart Home market installation in the country.
When compared globally, it is interesting to note that United States generates the highest revenue in the Smart Home market.
In 2024, United States is projected to generate revenue of US$38,800.0m.
This highlights the significant market size and potential United States, indicating its dominance in the global Smart Home market industry.
The Smart Home market in Bangladesh is experiencing rapid growth with an increasing adoption of home automation systems.

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

Market

Region

Region comparison

Currency

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.