Control & Connectivity - United Arab Emirates

United Arab Emirates

Revenue in the Control & Connectivity market is projected to reach €16.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.00%, resulting in a projected market volume of €28.6m by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 257.5k users by 2029.
Household penetration will be 6.7% in 2024 and is expected to hit 14.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €137.60.

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Región

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Analyst Opinion

The Control & Connectivity market in United Arab Emirates is experiencing significant growth due to various factors.

Customer preferences: Customers in the United Arab Emirates have shown a strong preference for advanced control and connectivity solutions. This is driven by the increasing demand for smart homes and smart buildings, where individuals and businesses are looking for ways to automate and control various aspects of their environment. The convenience and efficiency offered by control and connectivity solutions are highly valued by customers in the United Arab Emirates.

Trends in the market: One of the key trends in the Control & Connectivity market in United Arab Emirates is the adoption of Internet of Things (IoT) technology. IoT allows for the seamless integration of various devices and systems, enabling users to control and monitor them remotely. This trend is particularly prominent in the residential sector, where homeowners are increasingly investing in smart home solutions. These solutions enable them to control lighting, temperature, security systems, and other devices through their smartphones or other connected devices. Another trend in the market is the increasing demand for energy-efficient control and connectivity solutions. With a growing focus on sustainability and energy conservation, customers in the United Arab Emirates are seeking solutions that can help them reduce energy consumption and optimize resource usage. This has led to a rise in the adoption of smart energy management systems, which enable users to monitor and control their energy usage in real-time.

Local special circumstances: The United Arab Emirates has a high per capita income and a strong focus on technological advancements. This creates a conducive environment for the growth of the Control & Connectivity market. The government of the United Arab Emirates has also been actively promoting the adoption of smart technologies, including control and connectivity solutions, as part of its smart city initiatives. This has further fueled the demand for such solutions in the country.

Underlying macroeconomic factors: The United Arab Emirates has a thriving construction industry, with numerous infrastructure and real estate projects underway. This has created a strong demand for control and connectivity solutions in the country. Additionally, the United Arab Emirates has a high smartphone penetration rate, which provides a ready platform for the adoption of control and connectivity solutions. The country's stable economy and favorable business environment also attract international players in the control and connectivity market, further driving its growth. In conclusion, the Control & Connectivity market in United Arab Emirates is witnessing significant growth due to customer preferences for advanced solutions, such as IoT technology and energy-efficient systems. The local special circumstances, including the government's focus on smart city initiatives, and the underlying macroeconomic factors, such as the thriving construction industry and high smartphone penetration rate, are further contributing to the market's development.

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.