Comfort & Lighting - Iran

Iran

Revenue in the Comfort & Lighting market is projected to reach €42.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.13%, resulting in a projected market volume of €86.2m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 2.2m users by 2029.
Household penetration will be 5.9% in 2024 and is expected to hit 10.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €36.47.

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Analyst Opinion

The Comfort & Lighting market in Iran is experiencing significant growth and development due to several factors. Customer preferences in Iran are shifting towards more energy-efficient and sustainable lighting solutions.

Consumers are becoming more conscious of their environmental impact and are seeking products that are both energy-saving and long-lasting. LED lighting is gaining popularity in the market as it offers these benefits, as well as a wide range of design options. Additionally, there is a growing demand for smart lighting systems that can be controlled remotely through mobile devices, providing convenience and flexibility to users.

Trends in the market indicate a strong focus on improving the quality of lighting in residential, commercial, and industrial spaces. In the residential sector, there is a growing demand for aesthetically pleasing lighting solutions that enhance the ambiance of homes. This has led to an increase in the adoption of decorative lighting fixtures and customized lighting designs.

In the commercial sector, businesses are investing in lighting solutions that improve employee productivity and customer experience. This includes the use of task lighting, ambient lighting, and color-changing lighting to create different moods and atmospheres. In the industrial sector, there is a need for efficient and durable lighting solutions that can withstand harsh conditions and provide optimal visibility.

Local special circumstances in Iran also contribute to the development of the Comfort & Lighting market. The government has implemented policies and regulations to promote energy efficiency and sustainability. This includes the phasing out of traditional incandescent bulbs and the introduction of energy efficiency labeling for lighting products.

These initiatives have created a favorable environment for the adoption of energy-efficient lighting solutions. Additionally, Iran has a young and growing population, which drives the demand for residential and commercial spaces. This further fuels the need for innovative and high-quality lighting solutions.

Underlying macroeconomic factors also play a role in the growth of the Comfort & Lighting market in Iran. The country has experienced economic growth in recent years, leading to increased disposable income and consumer spending. This allows individuals and businesses to invest in upgrading their lighting systems.

Furthermore, the construction industry in Iran is booming, with numerous infrastructure projects and urban development initiatives taking place. This creates a demand for lighting solutions in new buildings and renovations. Overall, the Comfort & Lighting market in Iran is developing due to shifting customer preferences towards energy-efficient and sustainable lighting solutions, trends in improving lighting quality, local special circumstances such as government policies and regulations, and underlying macroeconomic factors such as economic growth and the construction industry.

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 category. 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 innovative products 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 once a year, in case market dynamics change we do more frequent updates.