Smart Home - Lithuania
Lithuania- The projected revenue for Lithuania in the Smart Home market is estimated to reach US$69.6m by 2024.
- This represents a significant growth opportunity for the country.
- The market is expected to continue expanding with a compound annual growth rate (CAGR) of 13.41% from 2024 to 2028, resulting in a projected market volume of US$115.1m by 2028.
- As the market grows, the number of active households in Lithuania is also expected to increase, reaching [users_currentlayer_yearend] by 2028.
- This indicates a growing interest and adoption of Smart Home market technology among the population.
- Household penetration, which measures the percentage of households with Smart Home market devices, is projected to rise from 16.2% in 2024 to 23.5% by 2028.
- The average revenue per installed Smart Home market in Lithuania is currently estimated to be US$324.80.
- This figure demonstrates the potential for revenue generation within the Smart Home market.
- When comparing in Lithuania to other countries globally, it is worth noting that United States generates the highest revenue, with US$38.8bn in 2024.
- This highlights the significant market size and potential United States.
- However, Lithuania's growing market and increasing revenue indicate a promising future for the country in the Smart Home market industry.
- Lithuania is experiencing a surge in demand for smart home technology, with homeowners investing in innovative solutions to enhance their living spaces.
The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring and regulation of functions in a private household.
The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation. Therefore, services which are necessary for the maintenance or control of the household network are also considered, e.g. subscription fees for control apps or external monitoring services.
Devices whose primary function is not the automation or remote control of household equipment, e.g. smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.
In-Scope
- Digitally connected and controlled devices within a house that can be remote controlled
- Sensors, actuators and cloud services that support automation in any way
- Control hubs to connect sensors and actuators with remote controls and to each other
- B2C hardware and software sales as well as subscription fees
Out-Of-Scope
- Smart TVs
- B2B/C2C sales of any kind (e.g. to hotels or office buildings)
