Control & Connectivity - New Zealand

New Zealand

Revenue in the Control & Connectivity market is projected to reach €49.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.24%, resulting in a projected market volume of €80.3m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 839.9k users by 2029.
Household penetration will be 23.2% in 2024 and is expected to hit 62.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €163.80.

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Analyst Opinion

The Control & Connectivity market in New Zealand is experiencing significant growth and development in recent years.

Customer preferences: Customers in New Zealand have shown a strong preference for advanced control and connectivity solutions in various industries such as manufacturing, transportation, and energy. They are increasingly seeking more efficient and automated systems to improve productivity and reduce costs. Additionally, there is a growing demand for seamless connectivity and integration between different devices and systems, as well as the need for real-time data monitoring and analysis.

Trends in the market: One of the key trends in the Control & Connectivity market in New Zealand is the adoption of Internet of Things (IoT) technology. IoT enables the connection and communication between devices and systems, allowing for more efficient control and monitoring. This trend is driven by the increasing availability of affordable and reliable connectivity options, such as 5G networks. As a result, businesses in New Zealand are leveraging IoT to streamline their operations, enhance productivity, and improve customer experience. Another trend in the market is the shift towards cloud-based control and connectivity solutions. Cloud technology offers scalability, flexibility, and cost-effectiveness, making it an attractive option for businesses in New Zealand. With cloud-based solutions, companies can access and control their systems remotely, enabling them to make real-time adjustments and optimize their operations. This trend is particularly beneficial for businesses with multiple locations or those that require centralized control.

Local special circumstances: New Zealand has a strong focus on sustainability and renewable energy. As a result, there is a growing demand for control and connectivity solutions that enable efficient energy management and monitoring. Businesses in the energy sector are investing in smart grid technologies and advanced control systems to optimize energy distribution and reduce waste. This focus on sustainability aligns with the global trend towards cleaner and greener energy solutions.

Underlying macroeconomic factors: The growing Control & Connectivity market in New Zealand is also influenced by several macroeconomic factors. The country has a stable and growing economy, which provides a favorable business environment for investment and innovation. Additionally, the government of New Zealand has been actively promoting digital transformation and innovation across industries, offering incentives and support to businesses adopting advanced technologies. In conclusion, the Control & Connectivity market in New Zealand is experiencing significant growth and development due to customer preferences for advanced control and connectivity solutions, the adoption of IoT technology, the shift towards cloud-based solutions, the focus on sustainability, and favorable macroeconomic factors. As businesses in New Zealand continue to invest in control and connectivity solutions, the market is expected to further expand in the coming years.

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.