MEA Smart Home Market Size, Share & Industry Analysis, By Device Type (Safety and Security Devices, Energy and Water Control, Climate Control, Lighting Control, Consumer Electronics), and By Housing Type (Multifamily Dwelling, Single Family Dwelling), Regional Forecast, 2023-2030

Middle East and Africa (MEA) smart home market size is projected to grow at a CAGR of 21.1% during the forecast period. The global smart home market is projected to grow from USD 80.21 billion in 2022 to USD 388.28 billion by 2030.

The MEA is a growing market for these smart appliances. This growth is driven by the increasing availability of smart home devices, such as smart speakers, smart thermostats, smart lighting, and the growing awareness of and interest in the benefits of these devices among general consumers. Increasing urbanization and rising disposable incomes in the region are also contributing to the market growth. As more people move to cities and have greater purchasing power, they are more likely to invest in smart appliances that can enhance their quality of life and improve the efficiency of their homes.

The MEA market research report covers the following countries – Turkey, Israel, GCC, North Africa, South Africa, and the Rest of MEA.

LATEST TRENDS

Mobile Application Add-on with Smart Devices to Drive Market Growth

Increasing demand for convenience and remote accessibility has made mobile apps an essential component of the smart home ecosystem. This is due to the growing popularity of mobile apps that allow users to control their smart home devices on their smartphones or tablets. According to a research conducted by S&P Global, 84% of home automation providers in the UAE believe that mobile applications are necessary add-ons to include with their smart appliances. Furthermore, 91% of providers deploy mobile applications to maintain customer retention and loyalty.

With increasing availability and affordability of smartphones and high-speed mobile internet, it is likely that the adoption of mobile app-based smart home solutions will continue to grow in the region.

DRIVING FACTORS

Urbanization and Increasing Popularity of Smart Appliances to Fuel Market Growth

More people are moving to cities in search of better opportunities, which increases the demand for smart appliances. Smart devices, such as smart refrigerators and washing machines are expected to witness significant growth in the coming years due to their ability to offer personalized experiences and automate tasks. According to a report by the GSMA, the Middle East & North Africa (MENA) region has seen a notable increase in smartphone adoption, with users exceeding the 300 million penetration rate and accounting for around 50% of the population in 2022. This increased use of smartphones is also driving the demand for smart appliances, as consumers are looking for ways to control their homes from their mobile devices.

Thus, the increasing popularity of mobile devices and surging digital transformation are estimated to drive the MEA smart home market share.

RESTRAINING FACTORS

Lack of Reliable Network Connectivity in Rural Areas to Impede Market Growth

Lack of internet connectivity can be attributed to a variety of factors including limited infrastructure, high costs, and political instability. It is particularly challenging for consumers who live in remote or rural areas, where access to the internet may be limited or nonexistent. In addition, low literacy rates in some regions make it difficult for consumers to understand and use smart appliances, even if they have access to the internet. Such factors impede the MEA market growth.

KEY INDUSTRY PLAYERS

Key Regional Players Are Establishing their Market Position with Constant Innovations

The MEA market is has a vast presence of leading players, such as Lutron Electronics Co., Inc., Amazon Inc., Control4, and HDL Automation Co., Ltd. These companies are increasing business operations in this region through strategies, such as mergers, acquisitions, product launches, collaborations, and partnerships to fuel their geographical expansion.

List of Key Companies Profiled:

• Lutron Electronics Co., Inc. (U.S.)


• Robert Bosch GmbH (Germany)


• Amazon Inc. (U.S.)


• Snap One LLC (Control4) (U.S.)


• Samsung Group (South Korea)


• HDL Automation Co., Ltd. (China)


• Koninklijke Philips N.V. (Netherlands)


• Apple Inc. (U.S.)


• Schneider Electric SE (France)

KEY INDUSTRY DEVELOPMENTS:

• November 2022: Haier Group Corporation expanded its smart appliance production in Turkey by launching a dish washer factory with an investment of USD 42 million and production capability of 1 million units annually. It enabled the company to reduce its production time and enhance efficiency in the region.


• November 2022: ASSA ABLOY acquired VHS, which provides locking accessories, doors and window hardware, among others. ASSA ABLOY, a parent company of Yale, aims to utilize VHS’s skills, experience, and knowledge to deploy smart security systems in Turkey, enhancing business operations.


• June 2022: TCL partnered with Jashanmal, which offers smart home appliances and essentials in the GCC. This partnership resulted in increased deployment of TCL’s smart appliances, such as ACs and televisions. It also enabled geographical expansion for TCL due to better products and consumer reach.


• May 2020: Masco Corporation acquired SmartTap, a manufacturer of smart shower systems among other water control devices in Israel. This acquisition increased the implementation of new technologies, resulting in enhancements in existing products, which helped the company expand its geographical presence.

REPORT COVERAGE

The MEA smart home market report provides a comprehensive analysis of the market including qualitative and quantitative insights, as well as a detailed evaluation of the size and growth rate of all potential market segments. It also presents an in-depth analysis of the market dynamics, emerging trends, and competitive landscape.

REPORT SCOPE & SEGMENTATION