Smart Home - Saudi Arabia

Saudi Arabia

The Smart Home market in Saudi Arabia is projected to witness a significant increase in revenue, reaching US$558.5m by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2028) of 10.96%, resulting in a projected market volume of US$846.5m by 2028.
In Saudi Arabia, the number of active households in the Smart Home market is expected to reach [users_currentlayer_yearend] by 2028.
This indicates a growing interest and adoption of Smart Home market technology among households in the country.
Furthermore, household penetration of Smart Home market technology is projected to increase from 22.1% in 2024 to 33.0% by 2028.
This signifies a rising trend of Smart Home market integration withSaudi_Arabian households.
On average, the revenue per installed Smart Home market in Saudi Arabia is expected to amount to US$419.60, reflecting the value and potential of this market segment in the country.
In a global comparison, it is noteworthy that United States generates the highest revenue in the Smart Home market, reaching a staggering US$38,800.0m in 2024.
However, Saudi Arabia's growing market and potential indicate a promising future for the Smart Home market industry within the country.
Saudi Arabia is witnessing a surge in the adoption of smart home technology, driven by the country's push towards modernization and increasing disposable income.

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

Market

Region

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Currency

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.