Smart Home - Colombia

  • Colombia
  • In the year 2024, the projected revenue in the Smart Home market in Colombia is expected to reach €432.1m.
  • Looking ahead, this market is expected to show a compound annual growth rate (CAGR 2024-2028) of 11.18%.
  • This growth will result in a projected market volume of €660.3m by the year 2028.
  • In terms of active households, it is anticipated that the number will reach [users_currentlayer_yearend] by 2028 in Colombia.
  • Furthermore, the household penetration, which currently stands at 10.1% in 2024, is expected to increase to 15.1% by 2028.
  • Currently, the average revenue per installed Smart Home market in Colombia is expected to amount to €274.80.
  • When comparing the Smart Home market globally, it is noteworthy that United States generates the highest revenue, reaching €35,980.0m in 2024.
  • Colombia's Smart Home market is rapidly expanding, driven by the increasing demand for energy-efficient solutions and home automation technologies.

Key regions: United States, United Kingdom, Germany, Europe, Norway

 
Mercado
 
Región
 
Comparación de regiones
 
Moneda
 

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 segment. 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 digital products and services 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 twice a year in case market dynamics change.

Visión general

  • Revenue
  • Smart Homes
  • Demographics
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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