Smart Appliances - Iran

Iran

Revenue in the Smart Appliances market is projected to reach €58.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.16%, resulting in a projected market volume of €83.3m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 1,106.0k users by 2029.
Household penetration will be 2.8% in 2024 and is expected to hit 5.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €108.10.

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Analyst Opinion

The Smart Appliances market in Iran is experiencing significant growth and development, driven by changing customer preferences and local special circumstances.

Customer preferences: Iranian consumers are increasingly seeking smart appliances that offer convenience, energy efficiency, and connectivity. With the rise of smart homes and the Internet of Things (IoT), there is a growing demand for appliances that can be controlled remotely through smartphones or voice assistants. Consumers are also becoming more conscious about energy consumption and are looking for appliances that are energy-efficient and environmentally friendly. Additionally, there is a preference for appliances that offer advanced features and technologies, such as self-cleaning ovens or refrigerators with built-in cameras.

Trends in the market: One of the key trends in the Smart Appliances market in Iran is the increasing adoption of smart kitchen appliances. Smart refrigerators, ovens, and cooktops are gaining popularity as they offer features like remote temperature control, recipe suggestions, and inventory management. These appliances not only enhance convenience but also help users save time and reduce food waste. Another trend is the integration of artificial intelligence (AI) and machine learning (ML) technologies in smart appliances. AI-powered appliances can learn user preferences and adapt their settings accordingly, providing a personalized experience. For example, a smart air conditioner can automatically adjust the temperature based on the user's behavior and preferences, optimizing energy consumption.

Local special circumstances: Iran has a young and tech-savvy population, which is driving the adoption of smart appliances. The country has a high smartphone penetration rate, and consumers are increasingly comfortable with using mobile apps to control and monitor their appliances. The government is also promoting the use of smart technologies to improve energy efficiency and reduce carbon emissions, creating a favorable environment for the growth of the Smart Appliances market.

Underlying macroeconomic factors: The improving economic conditions in Iran are also contributing to the growth of the Smart Appliances market. As disposable incomes rise, consumers have more purchasing power and are willing to invest in high-quality and technologically advanced appliances. Additionally, the government's efforts to attract foreign investment and promote domestic manufacturing are leading to the availability of a wider range of smart appliances in the market. In conclusion, the Smart Appliances market in Iran is witnessing significant growth due to changing customer preferences, including the demand for convenience, energy efficiency, and connectivity. The increasing adoption of smart kitchen appliances and the integration of AI and ML technologies are key trends in the market. The young and tech-savvy population, along with the government's focus on energy efficiency, are creating a favorable environment for the growth of the Smart Appliances market in Iran.

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.