Control & Connectivity - Israel

Israel

Revenue in the Control & Connectivity market is projected to reach €30.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.11%, resulting in a projected market volume of €61.3m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 512.8k users by 2029.
Household penetration will be 6.0% in 2024 and is expected to hit 16.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €177.50.

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Región

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Analyst Opinion

The Control & Connectivity market in Israel is experiencing significant growth and development. Customer preferences in the Control & Connectivity market in Israel are driven by the increasing need for advanced technology solutions.

Israeli customers are highly tech-savvy and value innovation and efficiency. They prefer products and services that offer seamless connectivity, enhanced control, and improved automation. Additionally, there is a growing demand for smart home and office solutions, as well as IoT devices that can be integrated into existing systems.

Trends in the market include the adoption of cloud-based control and connectivity solutions. Israeli businesses and consumers are increasingly relying on cloud technology to store and access data, making cloud-based control and connectivity solutions a popular choice. This trend is driven by the need for flexibility, scalability, and cost-effectiveness.

Another trend in the market is the integration of artificial intelligence and machine learning capabilities into control and connectivity systems. Israeli companies are leveraging AI and ML to enhance the performance and functionality of their products and services. Local special circumstances in the Control & Connectivity market in Israel include the country's strong tech ecosystem and entrepreneurial spirit.

Israel is known as the "Startup Nation" and has a thriving tech industry. This environment fosters innovation and encourages the development of cutting-edge control and connectivity solutions. Additionally, Israel has a highly skilled workforce and a strong academic sector, which contributes to the country's technological advancements.

Underlying macroeconomic factors driving the development of the Control & Connectivity market in Israel include the country's strong economy and government support for the tech industry. Israel has a robust economy with a high GDP per capita, which provides a favorable environment for businesses to invest in control and connectivity solutions. The Israeli government also offers various incentives and support programs to promote the growth of the tech sector, including funding for research and development.

These factors contribute to the overall growth and development of the Control & Connectivity market in Israel.

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.