Smart Home - Colombia

  • Colombia
  • Revenue in the Smart Home market is projected to reach €432.1m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 11.18%, resulting in a projected market volume of €660.3m by 2028.
  • Household penetration will be 10.1% in 2024 and is expected to hit 15.1% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €274.80.
  • A global comparison reveals that most revenue is generated United States (€35,980.0m in 2024).
Comparaison de régions

Analyst Opinion

Amidst the lush landscapes and vibrant culture of Colombia, the Smart Home market is experiencing significant growth and evolution.

Customer preferences:
Colombian consumers are increasingly drawn to Smart Home technology due to its convenience, efficiency, and the ability to enhance their quality of life. The desire for greater security, energy savings, and remote access to home functions are driving the demand for smart devices in households across the country.

Trends in the market:
One noticeable trend in the Colombian Smart Home market is the rising adoption of voice-controlled devices and smart assistants. This trend aligns with global preferences but is particularly appealing in Colombia due to the convenience it offers in a fast-paced society. Additionally, the integration of smart home technology with sustainable practices is gaining traction, reflecting the growing environmental consciousness among consumers.

Local special circumstances:
Colombia's unique geographical and climatic conditions play a role in shaping the Smart Home market trends. The country's diverse topography and varying weather patterns influence the types of smart devices that are in demand. For instance, weather-responsive smart thermostats and automated irrigation systems cater to the specific needs of Colombian households in different regions.

Underlying macroeconomic factors:
The Smart Home market in Colombia is also influenced by macroeconomic factors such as urbanization, disposable income levels, and technological infrastructure. As urban centers continue to expand, there is a greater need for smart solutions to manage modern living spaces efficiently. The increasing disposable income among the middle-class population enables more households to invest in smart devices. Moreover, ongoing developments in Colombia's technological infrastructure support the growth of the Smart Home market by ensuring reliable connectivity and accessibility to smart technologies.


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 category. 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.


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 innovative products 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 once a year, in case market dynamics change we do more frequent updates.

Vue d’ensemble

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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