The GCC Smart Home Market Depicted Strong Growth Over 2014-2019 with a CAGR of 19%. Will GCC continue this growth trajectory: Ken Research

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1.The market is dominated by international brands creating a future possibility Global Technology adapted to Arab Needs.

Other Challenges in Smart Home Market

A smart home is a residence with advanced automation systems and intelligent devices that users can control remotely through a smartphone or computer. It increases comfort, convenience, security, and energy efficiency by automating and controlling lighting, heating/cooling, appliances, entertainment, and security systems. Features can include voice-activated assistants, sensors, and integrated networks for seamless communication.

Competition is fierce in the GCC intelligent home market, where companies must offer competitive pricing, innovative products with advanced features, and a strong reputation for quality and reliability. Additionally, excellent customer service and support are crucial for success. Collaboration and forming strategic partnerships with other firms in the industry can also provide a competitive advantage.

Major companies present in the market are Johnson Controls Revenue, Schneider Electric, Emerson Electric Revenue, LG, LeGrand, Siemens AG, Honeywell, and Apple.

2.Energy Management: The need to efficiently use electricity

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Residential buildings electricity consumption totalled to 324.5 Mn KwH, while total production totalled to 811.2 Mn KwH in 2018, in Saudi Arabia.

Differential pricing for utilities among Expats vs Locals in UAE, Bahrain.

Average monthly energy consumption in UAE totaled 25.0% of monthly income while in Saudi Arabia it as 20.0% in 2019.

Energy Policies: The current electricity pricing policy in the Gulf Cooperation Council (GCC) countries is unsustainable as decades of subsidies have led to high consumption rates and wasted power. Electricity subsidies have cost GCC countries more than $120 Bn over the past 20 years.

There is a very crucial need for smart home devices which can help in conserving electricity as rising prices of electricity is being witnessed.

 3.Unique product offerings focusing on more than Energy Savings should be considered when entering the market.

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Gaps In the Available Offering:

Core Benefit: Customers consider factors like Pricing, Brand, quality while purchasing but highest priority is given to the “Core Benefit” Brands need to refocus on customer needs and simplify offerings.Data Privacy: Available technology fails to provide a sense of privacy and data security to the customers which could be a reason to the low adoption rate.Customer Knowledge: Awareness about smart devices is low, which may cause some reluctance during purchase or being unaware of the potential of smart devices.

Service Quality:  Customers consider smart devices a, one time investment. Companies in can pay more in-depth attentions to after sales services.

Key Segments Covered

GCC Smart Home Market:

By Country

UAESaudi ArabiaQatarKuwaitOmanBahrain

By Application

LightingHVACSecurity & Access ControlEntertainment SystemOthers

By Connection

Wired ConnectionWireless Connection

UAE Smart Home Market

By Application

LightingHVACSecurity & Access ControlEntertainment SystemOthers

By Cities

DubaiAbu DhabiSharjahRest of UAE

By Property

VillasTownhousesApartments

By Type of Sales

Retail SalesProject Sales

By End Users

Real Estate DevelopersIntegrator FirmsIndividualsOthers

Saudi Arabia Smart Home Market

By Application

LightingHVACSecurity & Access ControlEntertainment SystemOthers

By Cities

RiyadhJeddahDammamRest of Saudi Arabia

By Property

VillasTownhousesApartments

By Type of Sales

Retail SalesProject Sales

By End Users

Real Estate DevelopersIntegrator FirmsIndividualsOthers

Companies Covered

Control4LegrandJohnson ControlsSchneider ElectricEmersonLGSiemensGreentec AutomationShifra Smart HomeApex Smart HomeAlayoubi TechnologiesElettricoDots Tech SystemsFast NetExotic International

Key Target Audience

Smart Home IntegratorsReal Estate DevelopersSmart Home ManufacturersHome Automation CompaniesVenture Capitalists and PE Firms

Time Period Captured in the Report:-

Historical Period– 2014-2019Forecast Period– 2020-2024F

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
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+91-9015378249