Smart Home - Denmark

Denmark

In Denmark, the Smart Home market is forecasted to achieve a revenue of US$1,034.0m in 2024.
This projection suggests a yearly growth rate, known as the Compound Annual Growth Rate (CAGR 2024-2028), of 9.58%.
Consequently, the market is expected to expand significantly, reaching a volume of US$1,491.0m by 2028.
Moreover, the number of active households in the Smart Home market is anticipated to reach [users_currentlayer_yearend] by 2028.
When it comes to household penetration, it is estimated to be 47.5% in 2024, with an anticipated increase to 79.0% by 2028.
Currently, the average revenue per installed Smart Home market is expected to be US$788.00.
In terms of global comparison, United States stands out as the country generating the highest revenue in the Smart Home market, with a projected revenue of US$38,800.0m in 2024.
Denmark is at the forefront of the Smart Home market, with a strong focus on energy-efficient and sustainable technology solutions.

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.