GCC Smart Homes Market by Countries, Application, Company Analysis, Forecast By Renub Research

(Senmer News Wire)

“According to Renub Research, the market of GCC Home Automation Market will grow with a staggering CAGR of 31.55% during 2020-2027.”

GCC Smart Home Market will be US$ 5,477.40 Million by 2027. Forecast by Countries (UAE, Saudi Arabia, Qatar, Bahrain, Kuwait), Application, Company Analysis.

IoT integration and internet penetration have led to the growth of the Smart Home industry around the world. Many countries have adopted this technology, and in that race, GCC countries have made positive growth over the times. Smart homes facilitate monitoring and controlling mechanical operations inside residential areas, commercial setups, and other premises. The smart home operates on a centralized network that supports various software that controls and monitors the energy demand, security control, heating, and cooling system. The big markets for this technology are Saudi Arabia, UAE, Kuwait, Qatar, and Oman, among GCC countries. According to this research report, GCC Smart Home Market will be US$ 5,477.40 Million by 2027.

The driving force behind GCC smart homes market growth is increasing government initiatives, adopting IoT across the GCC countries, rising home securities, and surging adoption of smart devices. Besides, growing investment for the development of technologies and increasing demand for real-time security solutions. Furthermore, there have been growing construction activities across GCC countries in the upcoming years at the same time; ongoing residential and commercial projects have huge demand over HAVC system would further drive this market. As per our study, connected entertainment, say, wireless speaker, Smart TVs, video streaming and connected health devices wearable’s has reached its maturity level in the GCC countries. For the year 2020, Gulf Cooperation Council Smart Home Industry was US$ 803.40 Million.

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Facts about GCC Countries

• Approx 60% of young populations in GCC countries under30 years.
• Around 64% of the population’s own smartphones in the GCC countries and UAE have the highest adoption rate among all nations.
• UAE users spend 3 to 4 hours daily on smartphones, whereas Saudi’s has the highest mobile videos playback around worldwide approx 90 million YouTube views every day.
• According to Renub Research, the market of GCC Home Automation Market will grow with a staggering CAGR of 31.55% during 2020-2027.

COVID-19 Impact on Middle East Smart Home Market

The GCC countries have reprioritised their investment in smart home devices because economic fallout has led to a more frugal approach towards spending. We expect that GCC countries see a greater focus on energy-saving devices eg- thermostats, switches etc. and entertainment devices. Economic uncertainty, constrained physical retail opportunities, installation limitations, disrupted manufacturing and distribution have curbed consumer spending. But we believe that this spending shortfall is temporary.

Renub Research latest report GCC Smart Homes Market by Countries (UAE, Saudi Arabia, Qatar, Bahrain, Kuwait), by Application (Lighting Control, HVAC Control Systems, Security & Access Controls, Entertainment Control Systems, Others), Companies (Johnson Controls, Schneider Electric, Emerson Electric, LG, LeGrand SA) provides a detailed analysis of GCC Smart Home Industry.

Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/gcc-smart-home-market-p.php

GCC Smart Homes Market

Application – Market break from 5 viewpoints