Smart Home - Taiwan

  • Taiwan
  • The Smart Home market in Taiwan is poised for impressive growth, with projected revenue expected to reach €519.2m in 2024.
  • This is indicative of the country's increasing interest in smart home technology.
  • Looking ahead, the market is anticipated to maintain a steady annual growth rate (CAGR 2024-2028) of 7.12%, resulting in a projected market volume of €683.5m by 2028.
  • Taiwan's adoption of smart home technology is also reflected in the expected increase in the number of active households, which is estimated to reach [users_currentlayer_yearend] by 2028.
  • This signifies a growing trend among Taiwanese households to integrate smart home devices into their daily lives.
  • In terms of household penetration, the current rate stands at 18.2% in 2024.
  • However, this figure is projected to rise significantly, reaching 23.2% by 2028.
  • This indicates the increasing prevalence of smart home devices Taiwanese households over the next few years.
  • Furthermore, the average revenue per installed Smart Home market in Taiwan is expected to amount to €314.30, highlighting the value and potential profitability of the market.
  • This figure underscores the financial benefits that can be derived from the adoption of smart home technology.
  • When comparing global markets, it is worth noting that United States leads the way in terms of revenue generation in the Smart Home market, with an impressive €35,610.0m projected revenue in 2024.
  • This demonstrates the significant market presence and potential of the United States in the smart home industry.
  • Overall, Taiwan's Smart Home market is poised for growth, with increasing revenue, household adoption, and household penetration rates.
  • This indicates a promising future for the smart home industry in Taiwan.
  • Taiwan's smart home market is booming, with a strong focus on energy-saving solutions and integration with existing home appliances.

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

 
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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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