Smart Appliances - Uganda

Uganda

The Smart Appliances market in Uganda is expected to witness a substantial growth in revenue, with projections indicating that it will reach US$9.7m by 2024.
Furthermore, the market is anticipated to exhibit a remarkable annual growth rate (CAGR 2024-2028) of 13.73%, resulting in a projected market volume of US$16.2m by 2028.
This growth is expected to be accompanied by an increase in the number of active households in the Smart Appliances market, which is projected to reach 244.7k users by 2028.
In terms of household penetration, the Smart Appliances market is expected to have a penetration rate of 1.1% in 2024, which is projected to rise to 1.9% by 2028.
This indicates an increasing adoption of smart appliances among households in Uganda.
Currently, the average revenue per installed Smart_Home stands at US$81.86.
This metric highlights the revenue generated per household that has embraced smart appliances.
A global comparison reveals that the highest revenue in the Smart Appliances market is generated in China, with projections indicating that it will reach a staggering US$17,040.0m by 2024.
This showcases in China's dominance in the global market for smart appliances.
Uganda's smart appliance market is witnessing a surge in demand as consumers seek innovative and energy-efficient solutions for their homes.

Key regions: Sweden, Denmark, Japan, China, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The segment Smart Appliances includes connected versions of all kinds of household appliances. In most cases, smart appliances are incremental innovations which add new features to existing products rather than creating totally new devices. The high amount of revenues are generated mainly by relatively high product prices. Many customers as a first step purchase lower-priced small appliances such as smart coffee machines or vacuum robots, whereas people who already own products from other segments are more likely to purchase large, higher-priced appliances like fridges. We expect devices to be adopted rather moderately in Europe and North America, but more quickly in Asia.

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.