Smart Home - Southeast Asia
- Southeast Asia
- The Smart Home market in Southeast Asia is projected to generate a revenue of US$2,208.0m in 2024.
- It is expected to experience a steady annual growth rate (CAGR 2024-2028) of 12.21%, resulting in a projected market volume of US$3,501.0m by 2028.
- In this market segment, the number of active households is expected to reach [users_currentlayer_yearend] by 2028.
- The household penetration rate is predicted to increase from 13.9% in 2024 to 22.9% by 2028.
- Currently, the average revenue per installed Smart Home market is estimated to be US$90.97.
- When comparing global figures, it becomes evident that United States leads in terms of revenue generation, with a projected revenue of US$38,800.0m in 2024.
- In Singapore, the adoption of smart home technology is on the rise, driven by the government's push for sustainability and the convenience it offers to residents in this highly urbanized city-state.
Key regions: United States, United Kingdom, Germany, Europe, Norway
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.Overview
- Revenue
- Smart Homes
- Key Players
- Global Comparison
- Methodology
- Key Market Indicators