Comfort & Lighting - Denmark

Denmark

Revenue in the Comfort & Lighting market is projected to reach €102.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.61%, resulting in a projected market volume of €162.0m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 1.6m users by 2029.
Household penetration will be 21.3% in 2024 and is expected to hit 51.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €161.40.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Comfort & Lighting market in Denmark has been experiencing steady growth in recent years. Customer preferences have shifted towards energy-efficient and eco-friendly lighting solutions, driving the demand for innovative products in the market. Additionally, the increasing focus on smart home technology and automation has also contributed to the growth of the Comfort & Lighting market in Denmark.

Customer preferences: Customers in Denmark have shown a strong preference for energy-efficient lighting solutions. This can be attributed to the country's commitment to sustainability and environmental conservation. As a result, there has been a growing demand for LED lighting products, which consume less energy and have a longer lifespan compared to traditional incandescent bulbs. Customers are also increasingly interested in smart lighting systems that allow them to control the intensity and color of the lights through smartphone apps or voice commands.

Trends in the market: One of the key trends in the Comfort & Lighting market in Denmark is the adoption of smart home technology. Smart lighting systems, which can be controlled remotely and programmed to adjust the lighting based on the time of day or occupancy, have gained popularity among Danish consumers. This trend is driven by the desire for convenience and energy efficiency. Additionally, the integration of lighting with other smart home devices, such as thermostats and security systems, has further enhanced the appeal of smart lighting solutions. Another trend in the market is the emphasis on design and aesthetics. Danish consumers have a strong appreciation for well-designed products, and this extends to the Comfort & Lighting market. Manufacturers are focusing on creating lighting fixtures that not only provide functional lighting but also serve as stylish and decorative elements in homes and offices. This trend has led to the emergence of innovative and visually appealing lighting designs in the market.

Local special circumstances: Denmark's commitment to sustainability and renewable energy has had a significant impact on the Comfort & Lighting market. The government has implemented policies and initiatives to promote energy efficiency and reduce carbon emissions. This has created a favorable environment for the growth of the market, as customers are actively seeking out energy-efficient lighting solutions. Furthermore, the presence of a well-established design industry in Denmark has also contributed to the development of innovative and aesthetically pleasing lighting products.

Underlying macroeconomic factors: The Comfort & Lighting market in Denmark is influenced by various macroeconomic factors. The country has a stable economy with a high standard of living, which allows consumers to invest in quality lighting products. Additionally, the government's focus on sustainability and energy efficiency has created a supportive regulatory environment for the market. The presence of a strong manufacturing sector in Denmark also ensures a steady supply of lighting products to meet the growing demand. Overall, the Comfort & Lighting market in Denmark is expected to continue its positive growth trajectory in the coming years, driven by customer preferences for energy-efficient and aesthetically pleasing lighting solutions, as well as the increasing adoption of smart home technology.

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.