GCC Smart Homes Market Size And Forecast : Report 2024-2032

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GCC Smart Home Market will reach US$ 1,881.16 Million in 2028, according to Renub Research.

GCC Smart Homes Market Size And Forecast : Report 2024-2032

GCC Smart Homes Market

Renub Research projects that the GCC smart home market would grow to US$ 1,881.16 million by 2028. A smart home is a place where people live that has sophisticated automation systems and smart appliances that they can operate from afar with a computer or smartphone. Automation of lighting, appliances, heating and cooling, entertainment, and security systems improves comfort, convenience, security, and energy savings.

Trends in the GCC Smart Home Market:

Throughout the GCC, high-speed internet is widely available, which is one of the main drivers propelling the market's expansion. This is further fostering a favorable atmosphere for cloud-based and connected smart home devices, which is driving the market's global expansion. Accordingly, the GCC region's economic expansion—especially in Saudi Arabia and the United Arab Emirates—is raising people's disposable income, which in turn is fostering market expansion. The market is expanding as a result of the increased demand for luxury real estate and lifestyle technology, such as smart houses.

Furthermore, governments in several GCC nations are aggressively supporting digital transformation and smart city initiatives, which is fueling the market's expansion. This assistance comes in the form of subsidies, infrastructure development, and regulatory frameworks. By making smart home technologies easier to implement, these factors are propelling the market's expansion. Smart home technologies, with their increased emphasis on sustainability and energy conservation, provide ways to maximize energy use. These solutions are in line with the region's objectives to lower carbon emissions and energy consumption, which is driving the market's global expansion.

Application - Market breakup from 6 Viewpoints:

1. Comfort and Lighting

2. Control and Connectivity

3. Energy management

4. Home Entertainment

5. Security

6. Smart appliance

Country - Market breakup from 6 Viewpoints:

1. UAE

2. Saudi Arabia

3. Qatar

4. Kuwait

5. Bahrain

6. Oman

GCC Smart Homes: The Market to strive for

Less than 10% of GCC residents utilize smart devices and smart solutions at home, indicating a very low adoption rate for smart homes. The majority of the market is accounted for by Saudi Arabia and the United Arab Emirates, with the other GCC nations gradually adopting smart home devices. Smart home gadgets are primarily motivated by the need to save energy, but their exorbitant cost prevents many consumers from adopting them. The most widely used smart gadget in the GCC is the smart TV, but adoption of other smart devices, such switches, smart lighting solutions, and smart speakers, is incredibly low.

Client Preference in GCC Market for Smart Homes

Consumer awareness of and adoption of smart homes is growing. However, there are still certain obstacles to using smart homes devices, such as concerns about data privacy, a lack of understanding of their advantages, the higher price of foreign-branded models, installation and troubleshooting challenges, and others. However, the GCC market is influenced by favorable aspects such as the desire to save energy, the convenience that smart gadgets give, and the social prestige that they offer. As indoor lighting and temperature controls are the main areas of a home where energy consumption occurs, there is an increasing demand for smart lighting and HVAC solutions. In addition, demand for security services is expanding quickly due to the growing requirement for remote surveillance in the GCC countries.

Company has been covered from 3 Viewpoints:

1. Overview

2. Recent Development

3. Revenue

Company Analysis:

1. High Liner Foods Inc.

2. Johnson Controls

3. Schneider Electric

4. Emerson Electric

5. LG

6. LeGrand

7. Siemens AG

8. Honeywell

9. Apple.

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 14 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.