Control & Connectivity - Morocco

Morocco

Revenue in the Control & Connectivity market is projected to reach US$22.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 15.36%, resulting in a projected market volume of US$40.6m by 2028.
In the Control & Connectivity market, the number of active households is expected to amount to 514.2k users by 2028.
Household penetration will be 2.9% in 2024 and is expected to hit 5.9% by 2028.
The average revenue per installed Smart Home currently is expected to amount to US$96.79.

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Analyst Opinion

The Control & Connectivity market in Morocco is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Morocco are increasingly demanding control and connectivity solutions that enhance their daily lives and improve their overall efficiency. This includes a growing demand for smart home automation systems, which allow users to control various aspects of their homes through connected devices. Additionally, there is a rising interest in connected cars, as consumers seek vehicles with advanced features such as GPS navigation, entertainment systems, and remote monitoring capabilities.

Trends in the market: One of the major trends in the Control & Connectivity market in Morocco is the adoption of Internet of Things (IoT) technology. This technology enables various devices and systems to be connected and controlled remotely, providing users with greater convenience and efficiency. IoT is being applied in various sectors such as healthcare, agriculture, and manufacturing, leading to increased demand for control and connectivity solutions. Another trend is the integration of artificial intelligence (AI) technology into control and connectivity systems. AI enables devices to learn and adapt to user preferences, providing personalized and intuitive control experiences.

Local special circumstances: Morocco's geographic location as a gateway between Europe and Africa has positioned it as a hub for international trade and investment. This has attracted multinational companies to establish their presence in the country, leading to increased demand for control and connectivity solutions. Additionally, the Moroccan government has been actively promoting the development of the digital economy, providing incentives and support for companies operating in the technology sector. This has created a favorable business environment for control and connectivity providers, driving market growth.

Underlying macroeconomic factors: Morocco has been experiencing steady economic growth in recent years, with a focus on diversifying its economy and attracting foreign investment. This has led to increased consumer spending power and a growing middle class, who are more likely to invest in control and connectivity solutions. Additionally, the country has been investing in infrastructure development, including the expansion of broadband internet coverage. This has improved connectivity and created opportunities for control and connectivity providers to offer their services. Furthermore, Morocco has a young and tech-savvy population, which is driving the demand for innovative control and connectivity solutions. In conclusion, the Control & Connectivity market in Morocco is witnessing significant growth and development due to customer preferences for enhanced control and connectivity solutions, the adoption of IoT and AI technology, local special circumstances such as Morocco's strategic location and government support, and underlying macroeconomic factors including economic growth, infrastructure development, and a tech-savvy population.

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.