Home Entertainment - Morocco

Morocco

Revenue in the Home Entertainment market is projected to reach €13.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.87%, resulting in a projected market volume of €18.1m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 1.4m users by 2029.
Household penetration will be 8.0% in 2024 and is expected to hit 17.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €21.39.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Entertainment market in Morocco has been experiencing significant growth in recent years. Customer preferences in the Home Entertainment market in Morocco have shifted towards more advanced and technologically advanced products.

Consumers are increasingly looking for high-definition televisions, smart home devices, and streaming services. This shift in preference can be attributed to the increasing disposable income of the population and the desire for a more immersive entertainment experience. Trends in the market indicate that the demand for streaming services is on the rise.

With the increasing availability of high-speed internet connections, Moroccan consumers are embracing online streaming platforms such as Netflix and Amazon Prime Video. This trend is further fueled by the convenience and flexibility that streaming services offer, allowing consumers to access a wide range of content at their own convenience. Another trend in the market is the growing popularity of smart home devices.

Moroccan consumers are increasingly adopting devices such as smart speakers, smart TVs, and home automation systems. This can be attributed to the convenience and ease of use that these devices offer. With the ability to control various aspects of their home entertainment systems through voice commands or smartphone apps, consumers are finding smart home devices to be a valuable addition to their entertainment setup.

Local special circumstances in Morocco also contribute to the development of the Home Entertainment market. The country has a young and tech-savvy population, which is driving the demand for advanced home entertainment products. Additionally, the government has been actively promoting digitalization and technological innovation, creating a conducive environment for the growth of the market.

Underlying macroeconomic factors, such as the increasing disposable income and urbanization in Morocco, are also driving the development of the Home Entertainment market. As more people move to urban areas and experience an increase in their income, they are willing to invest in high-quality home entertainment products. This, coupled with the availability of financing options, has further fueled the growth of the market.

In conclusion, the Home Entertainment market in Morocco is experiencing significant growth due to changing customer preferences, increasing adoption of streaming services and smart home devices, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected that the demand for advanced and technologically advanced home entertainment products will continue to grow.

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.