Comfort & Lighting - Americas

Americas

The projected revenue in the Comfort & Lighting market in the Americas is expected to reach US$4.4bn in 2024.
This represents a significant market size within the region.
It is anticipated that the revenue will continue to grow at an annual rate of 8.76% (CAGR 2024-2028), resulting in a projected market volume of US$6.1bn by 2028.
Looking specifically at the number of active households in the Comfort & Lighting market, it is expected to reach 119.5m users by 2028.
This indicates a strong market potential for companies operating in this segment.
In terms of household penetration, which measures the percentage of households using Comfort & Lighting market solutions, it is projected to be 14.1% in 2024.
However, this is expected to increase significantly to 32.9% by 2028.
This suggests a growing adoption of Comfort & Lighting market solutions among households in the Americas.
When considering the average revenue per installed Smart_Home, the current expectation is that it will amount to US$89.34.
This figure provides insights into the revenue potential of each installed Smart_Home within the Comfort & Lighting market.
In a global comparison, it is noteworthy that in the United States generates the most revenue within the Comfort & Lighting market.
In 2024, the projected revenue in the United States is estimated to be US$3,715.0m.
This indicates the dominance of the United States market in the region.
Overall, the Comfort & Lighting market in the Americas presents a lucrative market opportunity with significant revenue potential.
The projected growth and increasing household penetration highlight the increasing demand for Comfort & Lighting market solutions in the region.
In the Comfort & Lighting market in the Americas, the United States is leading the way with its innovative smart home technologies and energy-efficient lighting solutions.

Key regions: Norway, Sweden, Denmark, United States, South Korea

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Region

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Analyst Opinion

The Comfort & Lighting segment includes devices such as door and window sensors or shutters as well as smart bulbs. Because almost all devices in this segment are relatively cheap and especially smart bulbs are easy to install, the products from this segment are used as a market entry by customers. Depending on the specific product, several companies dominate the market. In the field of smart bulbs, key players are Philips Hue, TP-Link, Lifi Labs or IKEA with Tradfi. Besides the general functions of on/off switches, dimming and color-changing modes, we don't see any major innovations at the time but products of this segment are a bridging technology and will be likely absorbed by the corresponding traditional consumer markets.

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.