Smart Home - Peru

Peru

The projected revenue in the Smart Home market for Peru is expected to reach US$115.4m in 2024.
This forecast indicates a positive trend in the market.
Moreover, an annual growth rate of 12.13% is anticipated from 2024 to 2028, leading to a projected market volume of US$182.4m by 2028.
These numbers demonstrate the potential growth and profitability of the Smart Home market in Peru.
In line with the market expansion, the number of active households in Peru is projected to increase to [users_currentlayer_yearend] by 2028.
This growth in households indicates a rising interest in Smart Home market technology among consumers in Peru.
When it comes to household penetration, it is expected to be 6.0% in 2024 and is projected to rise to 9.3% by 2028.
This signifies an increasing adoption of Smart Home market technology by Peruvian households.
Currently, the average revenue per installed Smart Home market in Peru is expected to be US$186.00.
This figure highlights the monetary value of Smart Home market installations in the country.
In comparison to other countries, United States leads in generating revenue in the Smart Home market.
In 2024, United States is expected to generate a revenue of US$38,800.0m.
This disparity between in Peru and United States showcases the varying market sizes and potential for growth in different regions.
Overall, these figures and projections underscore the promising opportunities and growth potential for the Smart Home market in Peru.
In Peru, the Smart Home market is experiencing significant growth due to increasing demand for home automation systems among the country's tech-savvy population.

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.