Smart Home - Singapore
- Singapore
- The Smart Home market in Singapore is projected to reach a revenue of €243.6m in 2024.
- It is expected to show an annual growth rate (CAGR 2024-2028) of 11.92%, resulting in a projected market volume of €382.2m by 2028.
- By 2028, the number of active households in the Smart Home market is expected to amount to [users_currentlayer_yearend] in Singapore.
- The household penetration rate is projected to increase from 47.6% in 2024 to 96.7% by 2028.
- Currently, the average revenue per installed Smart Home market in Singapore is expected to amount to €339.60.
- In a global comparison, it is noteworthy that United States generates the highest revenue in the Smart Home market, amounting to €35,980.0m in 2024.
- Singapore leads the way in the adoption of smart home technology, with its advanced infrastructure and tech-savvy population.
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.Vue d’ensemble
- Revenue
- Smart Homes
- Demographics
- Key Players
- Global Comparison
- Methodology
- Key Market Indicators