Smart Home - United Arab Emirates

  • United Arab Emirates
  • Revenue in the Smart Home market is projected to reach US$76.4m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.49%, resulting in a projected market volume of US$113.8m by 2028.
  • Household penetration will be 15.7% in 2024 and is expected to hit 22.9% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to US$239.10.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
 
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Analyst Opinion

The Smart Home market in United Arab Emirates is experiencing a rapid growth driven by various factors.

Customer preferences:
Customers in the United Arab Emirates are increasingly drawn to smart home technology due to the convenience and efficiency it offers. The desire for a modern and connected lifestyle has fueled the demand for smart home devices that can be controlled remotely.

Trends in the market:
One notable trend in the UAE's Smart Home market is the emphasis on luxury and high-end features. As a country known for its opulent lifestyle, the demand for smart home solutions that offer both functionality and luxury is on the rise. Additionally, there is a growing interest in energy-efficient and sustainable smart home products to align with the country's focus on environmental conservation.

Local special circumstances:
The unique cultural landscape of the United Arab Emirates plays a significant role in shaping the Smart Home market. The affluent population in the region is willing to invest in cutting-edge technology to enhance their living spaces. Moreover, the government's initiatives to promote smart cities and sustainable living further drive the adoption of smart home solutions in the country.

Underlying macroeconomic factors:
The strong economy and high disposable income levels in the United Arab Emirates contribute to the growth of the Smart Home market. As consumers have more purchasing power, they are inclined to invest in smart home devices to elevate their standard of living. Additionally, the government's focus on diversifying the economy and promoting innovation creates a conducive environment for the development of the smart home industry in the country.

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.

Overview

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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