Control & Connectivity - Tanzania

Tanzania

Revenue in the Control & Connectivity market is projected to reach US$17.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.05%, resulting in a projected market volume of US$25.2m by 2028.
In the Control & Connectivity market, the number of active households is expected to amount to 604.2k users by 2028.
Household penetration will be 2.4% in 2024 and is expected to hit 4.0% by 2028.
The average revenue per installed Smart Home currently is expected to amount to US$54.32.

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Analyst Opinion

The Control & Connectivity market in Tanzania is experiencing significant growth and development, driven by several key factors.

Customer preferences: Customers in Tanzania are increasingly demanding more advanced control and connectivity solutions to enhance their daily lives and businesses. With the rise of smart homes, smart cities, and the Internet of Things (IoT), there is a growing need for control and connectivity solutions that can seamlessly integrate various devices and systems. Customers are looking for reliable and user-friendly solutions that can provide them with greater convenience, efficiency, and security.

Trends in the market: One of the major trends in the Control & Connectivity market in Tanzania is the adoption of smart home technology. Smart home devices, such as smart lighting, thermostats, security systems, and entertainment systems, are becoming increasingly popular among consumers. These devices can be controlled remotely through smartphones or voice assistants, allowing users to manage and monitor their homes from anywhere. This trend is driven by the desire for convenience, energy efficiency, and improved security. Another trend in the market is the increasing demand for connectivity solutions in industries such as healthcare, transportation, and manufacturing. These industries are leveraging control and connectivity technologies to improve operational efficiency, reduce costs, and enhance safety. For example, healthcare providers are using remote monitoring devices and telemedicine solutions to deliver healthcare services to remote areas. Similarly, transportation companies are adopting connected fleet management systems to optimize logistics and improve customer service.

Local special circumstances: Tanzania has a rapidly growing population and a rising middle class, which is driving the demand for control and connectivity solutions. As more people gain access to smartphones and internet connectivity, there is a greater need for control and connectivity solutions that can enhance their daily lives. Additionally, the government of Tanzania has been actively promoting digital transformation and smart city initiatives, which is further fueling the demand for control and connectivity solutions.

Underlying macroeconomic factors: The economic growth of Tanzania is also contributing to the development of the Control & Connectivity market. The country has been experiencing steady economic growth, driven by sectors such as construction, telecommunications, and manufacturing. This growth is creating opportunities for businesses in the control and connectivity industry to expand their operations and cater to the growing demand. Furthermore, the government of Tanzania has implemented policies and initiatives to attract foreign direct investment and promote innovation in the technology sector. This has created a favorable business environment for companies in the control and connectivity market to thrive and innovate. The government's focus on improving infrastructure, such as expanding internet connectivity and upgrading telecommunications networks, is also supporting the growth of the market. In conclusion, the Control & Connectivity market in Tanzania is experiencing significant growth and development due to customer preferences for advanced solutions, trends such as the adoption of smart home technology and connectivity solutions in industries, local special circumstances including the growing population and government initiatives, and underlying macroeconomic factors such as steady economic growth and favorable business environment.

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.