Smart Home - Thailand
- Thailand
- The Smart Home market in Thailand is projected to reach a revenue of US$233.3m in 2024.
- This forecast indicates an annual growth rate (CAGR 2024-2028) of 14.19%, resulting in a projected market volume of US$396.6m by 2028.
- By that year, it is expected that the number of active households in the Smart Home market will amount to [users_currentlayer_yearend].
- The household penetration rate is projected to increase from 15.8% in 2024 to 23.8% by 2028.
- Currently, the average revenue per installed Smart Home market is expected to be US$63.86.
- When comparing global figures, it is noteworthy that United States generates the highest revenue in the Smart Home market, reaching US$38,800.0m in 2024.
- Thailand is experiencing a surge in demand for smart home technology, with homeowners increasingly investing in automated systems for enhanced comfort and security.
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
- Demographics
- Key Players
- Global Comparison
- Methodology
- Key Market Indicators