Smart Home - Germany
- Germany
- Germany is expected to see significant growth in the Smart Home market.
- According to projections, the revenue in this market is set to reach €8.1bn by 2024.
- With an annual growth rate (CAGR 2024-2028) of 9.30%, the market volume is projected to reach €11.5bn by 2028.
- Furthermore, the number of active households in the Smart Home market is expected to reach [users_currentlayer_yearend] by 2028.
- In terms of household penetration, in Germany is predicted to have a penetration rate of 44.9% in 2024, which is anticipated to increase to 90.7% by 2028.
- This indicates a growing interest and adoption of Smart Home market technology among households in the country.
- Currently, the average revenue per installed Smart Home market in Germany is expected to be €416.50.
- This indicates the amount of revenue generated per Smart Home market installation.
- When comparing revenue globally, it is noteworthy that United States leads the way with a projected revenue of €35,980.0m in 2024.
- This highlights the dominance of the US market in the Smart Home market industry.
- Germany leads the way in the Smart Home market with its strong focus on energy efficiency and advanced automation technologies.
Key regions: United States, United Kingdom, Germany, Europe, Norway
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