Smart Appliances - United Arab Emirates

United Arab Emirates

Revenue in the Smart Appliances market is projected to reach €31.1m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.53%, resulting in a projected market volume of €51.2m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 245.7k users by 2029.
Household penetration will be 7.1% in 2024 and is expected to hit 13.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €250.50.

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Analyst Opinion

The Smart Appliances market in United Arab Emirates is experiencing significant growth due to changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: Customers in United Arab Emirates are increasingly opting for smart appliances due to their convenience and energy efficiency. Smart appliances allow users to control and monitor their devices remotely through smartphones or other smart devices. This allows for greater flexibility and convenience in managing household tasks. Additionally, smart appliances often come with energy-saving features, which align with the growing environmental consciousness among consumers.

Trends in the market: One of the key trends in the smart appliances market in United Arab Emirates is the increasing integration of artificial intelligence (AI) and Internet of Things (IoT) technologies. AI-powered smart appliances can learn and adapt to user preferences, making them more intuitive and user-friendly. IoT connectivity enables seamless communication between devices, allowing for greater automation and control. These trends are driving the demand for smart appliances as consumers seek more advanced and connected solutions for their homes. Another trend in the market is the growing popularity of smart home ecosystems. Consumers are increasingly looking for integrated solutions that can connect and control multiple smart devices in their homes. This includes appliances such as refrigerators, washing machines, and ovens, as well as other smart devices like lighting systems and security cameras. The ability to manage and control all these devices through a single platform is highly appealing to consumers, as it offers convenience and simplifies their daily routines.

Local special circumstances: The United Arab Emirates has a high per capita income and a strong focus on technological advancements. This creates a favorable environment for the adoption of smart appliances. Additionally, the government of United Arab Emirates has been actively promoting smart city initiatives, which include the deployment of smart appliances in residential buildings. This push from the government further accelerates the growth of the smart appliances market in the country.

Underlying macroeconomic factors: The United Arab Emirates has a robust economy with a high level of disposable income among its population. This enables consumers to invest in high-end appliances, including smart appliances. Furthermore, the country has a high rate of urbanization, with a significant proportion of the population living in modern apartments and houses. This urban lifestyle and the desire for modern living spaces drive the demand for smart appliances. In conclusion, the Smart Appliances market in United Arab Emirates is growing due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience and energy efficiency offered by smart appliances, along with the integration of AI and IoT technologies, are driving the demand for these products. The high per capita income, government support for smart city initiatives, and urban lifestyle in United Arab Emirates further contribute to the growth of the market.

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.