Smart Home - Southern Africa

  • Southern Africa
  • The Smart Home market in Southern Africa is anticipated to witness significant growth in the coming years.
  • By 2024, the projected revenue for this market is expected to reach US$800.5m.
  • Furthermore, it is projected to exhibit a compound annual growth rate (CAGR) of 11.06% from 2024 to 2028, resulting in a market volume of US$1,218.0m by 2028.
  • In terms of active households, the Smart Home market is anticipated to have approximately [users_currentlayer_yearend] households by 2028.
  • The household penetration rate, which measures the proportion of households using Smart Home market technology, is projected to increase from 10.2% in 2024 to 19.0% by 2028.
  • The average revenue per installed Smart Home market currently stands at US$363.10.
  • This metric reflects the average amount of revenue generated by each Smart Home market installation.
  • When comparing the Smart Home market globally, United States leads in terms of revenue generation.
  • In 2024, United States is expected to generate US$38,800.0m in revenue.
  • These projections highlight the promising growth potential of the Smart Home market in Southern Africa, with revenue, market volume, and household penetration expected to increase steadily over the forecast period.
  • In Southern Africa, the smart home market is rapidly growing, with an increasing demand for energy-efficient devices and home automation systems.

Key regions: United States, United Kingdom, Germany, Europe, Norway

 
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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.

Overview

  • Revenue
  • Smart Homes
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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