Smart Home - South Korea
- South Korea
- The Smart Home market in South Korea is projected to generate revenue of €6.6bn in 2024.
- This revenue is expected to grow at an annual rate of 10.68% from 2024 to 2028, resulting in a projected market volume of €9.9bn by 2028.
- Additionally, the number of active households in the Smart Home market is expected to reach [users_currentlayer_yearend] by 2028.
- By 2024, the household penetration rate for Smart Home markets is estimated to be 60.5%, and it is projected to increase to 119.0% by 2028.
- Currently, the average revenue per installed Smart Home market is expected to be €492.40 in South Korea.
- When compared globally, it is worth noting that United States generates the highest revenue in the Smart Home market, with an estimated €35,610.0m in 2024.
- South Korea is at the forefront of smart home technology adoption, with a high demand for AI-powered devices and seamless connectivity.
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