Smart Home - Papua New Guinea
Papua New Guinea- The Smart Home market in Papua New Guinea is anticipated to witness substantial growth in the coming years.
- By 2024, the projected revenue is estimated to reach US$9.3m.
- This growth is expected to continue with an annual growth rate of 12.52% (CAGR 2024-2028), resulting in a projected market volume of US$15.0m by 2028.
- Moreover, the number of active households in the Smart Home market is predicted to reach [users_currentlayer_yearend] by 2028.
- This indicates a steady increase in household penetration, which is forecasted to be 3.1% in 2024 and is expected to reach 5.1% by 2028.
- Currently, the average revenue per installed Smart Home market stands at US$153.20.
- This figure demonstrates the potential for revenue generation from each individual Smart Home market installation.
- In a global perspective, United States leads the market with the highest revenue generation.
- In 2024, United States is projected to generate a revenue of US$38.8bn, surpassing other countries in the Smart Home market.
- Papua New Guinea's smart home market is experiencing slow growth due to limited infrastructure and high costs of implementing smart technology.
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)
