Smart Home - Malaysia
Malaysia- The Smart Home market in Malaysia is expected to experience significant growth in the coming years.
- According to projections, the revenue in this market is projected to reach MYR US$353.8m by 2024.
- Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of 12.93% (CAGR 2024-2028), resulting in a projected market volume of MYR US$575.5m by 2028.
- This growth is driven by the increasing number of active households, which is expected to reach [users_currentlayer_yearend] by 2028.
- In terms of household penetration, the Smart Home market is expected to have a penetration rate of 17.8% in 2024, which is projected to increase to 29.5% by 2028.
- This indicates a growing adoption of Smart Home market technology among Malaysian households.
- Currently, the average revenue per installed Smart Home market in Malaysia is expected to be MYR US$239.30.
- This figure reflects the revenue generated per Smart Home market installation in the country.
- In a global comparison, it is worth noting that United States leads in terms of revenue generated in the Smart Home market.
- In 2024, United States is projected to generate revenue of US$38.8bn.
- This highlights the significant market presence and consumer demand for Smart Home market products and services United States.
- The demand for smart home devices in Malaysia is growing rapidly, driven by the increasing urbanization and tech-savvy population.
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)
