Smart Appliances - Pakistan

Pakistan

Pakistan is projected to see a significant increase in revenue within the Smart Appliances market.
By 2024, the projected revenue is estimated to reach US$40.6m.
This growth is expected to continue at an annual rate of 1.36% between 2024 and 2028, resulting in a projected market volume of US$42.9m by 2028.
Furthermore, the number of active households in Pakistan's Smart Appliances market is expected to reach 3.3m users by 2028.
This indicates a growing adoption of smart appliances among Pakistani households.
In terms of household penetration, it is projected to be 2.9% in 2024 and is expected to rise to 7.8% by 2028.
This indicates an increasing number of households integrating smart appliances into their homes.
Currently, the average revenue per installed Smart_Home in Pakistan is expected to be US$37.23.
This means that each smart home is generating this amount of revenue on average.
When comparing global statistics, it is noteworthy that in China leads in terms of revenue generated within the Smart Appliances market.
In 2024, in China's revenue is projected to be US$17,040.0m, reflecting its significant market presence.
"Smart appliances are gaining popularity in Pakistan, as consumers seek convenience and energy efficiency in their everyday household tasks."

Key regions: Sweden, Denmark, Japan, China, Europe

Market

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Currency

Analyst Opinion

The segment Smart Appliances includes connected versions of all kinds of household appliances. In most cases, smart appliances are incremental innovations which add new features to existing products rather than creating totally new devices. The high amount of revenues are generated mainly by relatively high product prices. Many customers as a first step purchase lower-priced small appliances such as smart coffee machines or vacuum robots, whereas people who already own products from other segments are more likely to purchase large, higher-priced appliances like fridges. We expect devices to be adopted rather moderately in Europe and North America, but more quickly in Asia.

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.