Control & Connectivity - Croatia

Croatia

The projected revenue in the Control & Connectivity market in Croatia is expected to reach €8.8m in 2024.
This indicates a substantial market potential in the country.
Furthermore, the revenue is anticipated to show a steady annual growth rate (CAGR 2024-2028) of 6.78%, leading to a projected market volume of €11.4m by 2028.
In terms of the number of active households within the Control & Connectivity market, in Croatia is projected to have 313.3k users households by 2028.
This showcases a growing market demand for products and services in this segment.
Additionally, household penetration is expected to increase from 11.5% in 2024 to 19.3% by 2028.
The average revenue per installed Smart_Home in Croatia is currently projected to be €47.81.
This indicates the potential for generating significant revenue per household in the country's Control & Connectivity market.
When compared globally, it is noteworthy that 0 generates the highest revenue in this segment.
In 2024, the revenue 0 is projected to be 0.
This demonstrates the prominent market position of the United States in the Control & Connectivity market industry.
Croatia is experiencing a rising demand for smart home systems, driving the growth of the control and connectivity market.

Key regions: Norway, United Kingdom, Asia, Sweden, United States

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Control & Connectivity segment includes the essential equipment, that is part of an intelligent home network (hubs, switches, smart speakers, plugs). The segment is clearly dominated by smart speakers. With the arrival of Amazon’s Echo, the whole digital economy including the smart home market was disrupted. Competition followed and reduced Amazons market share, especially from Asia where Xiomi, Alibaba and Baidu are developing smart speaker systems. There is no doubt that smart speakers will foster growth in the market, since they are the number one entry-level product for consumers. However, we believe that not all use cases will include voice control in the future. Moreover, there will be more smart displays, such as Echo Show or Google Nest Hub.

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.