Comfort & Lighting - Angola

Angola

Revenue in the Comfort & Lighting market is projected to reach €6.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.61%, resulting in a projected market volume of €12.8m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 353.7k users by 2029.
Household penetration will be 2.1% in 2024 and is expected to hit 3.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €34.86.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Comfort & Lighting market in Angola is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of this industry in Angola.

Customer preferences in Angola have shifted towards more comfortable and well-lit living spaces. As the standard of living improves and disposable income increases, Angolan consumers are increasingly investing in products and services that enhance their comfort and lighting experience. This includes purchasing high-quality furniture, mattresses, and lighting fixtures that provide both functionality and aesthetic appeal.

In addition to customer preferences, several trends in the market are driving the growth of the Comfort & Lighting industry in Angola. One notable trend is the increasing demand for energy-efficient lighting solutions. As consumers become more environmentally conscious, they are opting for energy-saving LED lights and smart lighting systems that offer greater control and efficiency.

This trend is in line with global efforts to reduce energy consumption and carbon emissions. Another trend in the Comfort & Lighting market in Angola is the rising popularity of smart home technology. With the advent of Internet of Things (IoT) devices, homeowners can now control their lighting and comfort systems through smartphone apps or voice commands.

This convenience and automation appeal to Angolan consumers who value modern and technologically advanced solutions. Local special circumstances also contribute to the development of the Comfort & Lighting market in Angola. The country has a growing middle class population with increasing purchasing power.

This demographic shift creates a larger consumer base for Comfort & Lighting products and services. Additionally, Angola has a tropical climate with long daylight hours, making lighting an essential aspect of daily life. The need for adequate lighting in both residential and commercial spaces further drives the demand for Comfort & Lighting products.

Underlying macroeconomic factors also play a role in the growth of the Comfort & Lighting market in Angola. The country has been experiencing steady economic growth in recent years, which has led to an increase in consumer spending. Additionally, government initiatives to improve infrastructure and promote sustainable development contribute to the overall growth of the market.

In conclusion, the Comfort & Lighting market in Angola is developing rapidly due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As Angolan consumers prioritize comfort and lighting in their living spaces, the demand for high-quality products and energy-efficient solutions continues to rise. With the support of favorable market conditions and a growing middle class population, the Comfort & Lighting industry in Angola is expected to continue its positive trajectory in the coming years.

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 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.

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 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.