Emerging Trends and Key Drivers Fueling the Middle East Smart Home Market Growth forecast 2028: With a Striking CAGR of 22% – MarkNtel Advisors

Middle East Smart Home Market
Middle East Smart Home Market

Middle East Smart Home Market Size, Share, Analysis, Trends Future & Forecast 2028

MarkNtel Advisors has recently released an all-encompassing report on Middle East Smart Home Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.

Forecast 2028: Revealing Middle East Smart Home Market Insights and Analysis

The Middle East Smart Home Market is projected to grow at a CAGR of around 22% during the forecast period, i.e., 2023-28.

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Market Driver: Rising Use of Energy-efficient Smart Appliances is Supporting the Market Growth

The adoption of smart appliances in the Middle East, such as smart bulbs, lighting, dryers, and water heaters, is experiencing a significant surge due to the residents’ desire to minimize energy costs. These smart appliances are designed to be energy-efficient & offer substantial energy savings compared to conventional electronic devices. According to Abu Dhabi Distribution Company, smart appliances can consume nearly 40% less energy, resulting in lower energy bills over the long run. This cost-saving advantage is driving the adoption of smart appliances among residents & contributing to the Middle East Smart Home Market’s revenue growth.

Governments in the region are actively promoting the usage of energy-efficient home appliances as part of their efforts to reduce overall energy consumption. An example of this has been seen in Abu Dhabi, where the government has partnered with organizations to encourage individuals to purchase smart & energy-efficient home appliances. For instance:

  • In 2020, the Abu Dhabi Distribution Company signed a Memorandum of Understanding with Lulu Group to reduce 20% of Abu Dhabi’s water & energy consumption by 2030.

This initiative is aimed at creating awareness & incentivizing the adoption of smart appliances, which aligns with the government’s energy conservation objectives. As a result, the market for smart appliances is anticipated to grow positively as more individuals embrace these energy-efficient solutions.

A Comprehensive Overview of Geographical Diversity:

the Middle East Smart Home Market expands across:

  • The UAE
  • Saudi Arabia
  • Oman
  • Bahrain
  • Kuwait
  • Qatar
  • Israel
  • Turkey
  • Others

The UAE accounted for the largest share in the Middle East Smart Home Market, primarily driven by the rising number of internet users & the increasing demand for smart devices.

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Middle East Smart Home Market Segmentation Outline:

  • By Technology (Cellular Network Technologies, Protocols and Standards, Wireless Communication Technologies)
  • By Software & Service (Behavioral, Proactive)
  • By Product Type (Entertainment Controls [Audio, Volume and Multimedia Room Controls, Home Theater System Control, Touchscreen and Keypads], Security & Access Control [Video Surveillance {Hardware, Software, Services}, Access Control {Non-Biometric Access Control, Biometric Access Control}], HVAC Control [Smart Thermostats, Sensors, Actuators, Dampers, Control Valves, Heating and Cooling Coils, Pumps & Fans, Smart Vents], Smart Home Appliances [Smart Washer, Smart Dryers, Smart Water Heaters, Smart Vacuum Cleaners], Smart Kitchen [Smart Dishwashers, Smart Refrigerators, Smart Cookers, Smart Ovens, Smart Coffee Makers, Smart Kettles], Smart Lighting Control [Dimmers, Switches, Relays, Daylight Sensors, Timers, Others], Smart Furniture [Smart Tables, Smart Stools and Benches, Smart Sofas, Smart Chairs, Smart Desks, Others (Smart Plugs, Smoke Detectors, Smart Meters)])

Competitive Outlook

ABB Ltd., Johnson Controls, Loxone Electronics, Acuity Brands, Emerson Electronics Co., Honeywell International, Inc., Legrand S.A., Lutron Electronics, Inc., Schneider Electric S.A, Siemens AG, Robert Bosch GmbH, Samsung Electronics Co., Ltd., Haier Group, Crestron Electronics, Inc., LG Electronics, Inc., Others.

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About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfil their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

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