Smart Home

The Smart Home market in Nigeria is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$247.1m by 2024.
Furthermore, a steady annual growth rate (CAGR 2024-2028) of 12.00% is anticipated, resulting in a projected market volume of US$388.8m by 2028.
With the increasing adoption of Smart Home market technology, the number of active households in Nigeria is expected to rise to [users_currentlayer_yearend] by 2028.
This indicates a promising future for the Smart Home market sector in the country.
Moreover, household penetration, which currently stands at 5.3% in 2024, is projected to increase to 9.5% by 2028.
This signifies a growing interest among Nigerian households in embracing Smart Home market solutions.
When considering the average revenue per installed Smart Home market, the current estimate is approximately US$95.96.
This figure demonstrates the potential for generating revenue from each Smart Home market installation in Nigeria.
In a global context, it is worth noting that United States leads in terms of revenue generation in the Smart Home market.
In 2024, United States is projected to generate a revenue of US$38,800.0m, reflecting the country's advanced adoption of Smart Home market technology.
In Nigeria, the smart home market is rapidly growing, driven by an increasing demand for home automation and energy efficiency solutions.

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

The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring and regulation of functions in a private household.

The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation. Therefore, services which are necessary for the maintenance or control of the household network are also considered, e.g. subscription fees for control apps or external monitoring services.

Devices whose primary function is not the automation or remote control of household equipment, e.g. smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.

in-scope

Digitally connected and controlled devices within a house that can be remote controlled
Sensors, actuators and cloud services that support automation in any way
Control hubs to connect sensors and actuators with remote controls and to each other
B2C hardware and software sales as well as subscription fees

out-of-scope

Smart TVs
B2B/C2C sales of any kind (e.g. to hotels or office buildings)

Please wait

Download PDF FAQs and more info on the methodology

Smart Home - Nigeria

in-scope

out-of-scope

Methodology

Overview