Smart Home - GCC

The Smart Home market in GCC is projected to see a significant growth in revenue, reaching a staggering US$754.9m in 2024.
This upward trend is expected to continue with an annual growth rate (CAGR 2024-2028) of 11.36%.
By 2028, the market volume is projected to reach an impressive US$1,161.0m.
The number of active households in the Smart Home market is also set to increase, reaching [users_currentlayer_yearend] by 2028.
This indicates a growing adoption of smart home technologies among households in GCC.
Household penetration, which refers to the percentage of households that have adopted smart home technologies, is expected to rise from 18.4% in 2024 to 27.8% by 2028.
This demonstrates the increasing popularity and acceptance of smart home devices in the region.
Currently, the average revenue per installed Smart Home market is estimated to be US$391.60.
This figure represents the average amount of revenue generated by each smart home installation in GCC.
In a global comparison, it is noteworthy that United States leads in terms of revenue generation, with an impressive US$38,800.0m in 2024.
This indicates the dominance of the US market in the global Smart Home market industry.
The GCC is experiencing a surge in demand for smart home devices, driven by the region's increasing focus on energy efficiency and convenience.

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.