Smart Home - Taiwan

Taiwan

The Smart Home market in Taiwan is poised for impressive growth, with projected revenue expected to reach US$565.7m in 2024.
This is indicative of the country's increasing interest in smart home technology.
Looking ahead, the market is anticipated to maintain a steady annual growth rate (CAGR 2024-2028) of 7.33%, resulting in a projected market volume of US$750.6m by 2028.
Taiwan's adoption of smart home technology is also reflected in the expected increase in the number of active households, which is estimated to reach [users_currentlayer_yearend] by 2028.
This signifies a growing trend among Taiwanese households to integrate smart home devices into their daily lives.
In terms of household penetration, the current rate stands at 18.2% in 2024.
However, this figure is projected to rise significantly, reaching 23.2% by 2028.
This indicates the increasing prevalence of smart home devices Taiwanese households over the next few years.
Furthermore, the average revenue per installed Smart Home market in Taiwan is expected to amount to US$342.40, highlighting the value and potential profitability of the market.
This figure underscores the financial benefits that can be derived from the adoption of smart home technology.
When comparing global markets, it is worth noting that United States leads the way in terms of revenue generation in the Smart Home market, with an impressive US$38,800.0m projected revenue in 2024.
This demonstrates the significant market presence and potential of the United States in the smart home industry.
Overall, Taiwan's Smart Home market is poised for growth, with increasing revenue, household adoption, and household penetration rates.
This indicates a promising future for the smart home industry in Taiwan.
Taiwan's smart home market is booming, with a strong focus on energy-saving solutions and integration with existing home appliances.

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.