Smart Home - Sri Lanka
Sri Lanka- The Smart Home market in Sri Lanka is projected to generate a revenue of US$133.1m in 2024.
- This revenue is expected to grow at an annual rate of 11.36% from 2024 to 2028, resulting in a projected market volume of US$204.8m by 2028.
- Additionally, the number of active households in the Smart Home market is expected to reach [users_currentlayer_yearend] by 2028.
- In terms of household penetration, it is estimated to be 5.6% in 2024 and is projected to increase to 9.5% by 2028.
- Currently, the average revenue per installed Smart Home market is expected to be US$250.80 in Sri Lanka.
- When compared globally, United States generates the highest revenue in the Smart Home market, with a projected revenue of US$38.8bn in 2024.
- The adoption of smart home technology in Sri Lanka is on the rise, with an increasing number of households integrating connected devices for enhanced convenience and security.
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)
