Emphasis on Product (Smart Washing Machines, Smart Refrigerators, Smart Air Purifiers, Smart Air Conditioners, Smart TVs, and Others); Distribution Channel (Online and Offline); Country
Geography:
Industry:
Last updated:
Oct 2023
The MENA smart home appliances market was valued at USD 2,221.7 Million in 2022 and is expected to grow at a strong CAGR of around 28.8% during the forecast period (2023-2030). The smart home appliances market in the Middle East and North Africa (MENA) region has experienced significant growth in recent years. The proliferation of the Internet of Things (IoT) is making it easier to connect and control home appliances remotely in the MENA region and is driving consumer demand for smart home appliances, which contributes significantly to industry expansion. Adding to this, escalating energy costs are encouraging consumers to opt for energy-efficient smart appliances, reducing utility bills. Moreover, the growth of urban areas is leading to higher adoption of smart appliances due to convenience and space-saving features. As per the General Authority of Access, in 2023, almost 92% of Saudis have access to or own a smartphone. Android (53.87%) and iOS (46.01%) unsurprisingly accounted for virtually all the operating systems on smartphones across Saudi Arabia in 2022. The iPhone 13 and iPhone 14 were the most searched-for models in 2022. Therefore, the high smartphone penetration in the region enables remote control and monitoring of smart appliances that will drive the growth of the market.
Some of the major players operating in Siemens AG, Honeywell International Inc., LG Electronics, Hisense Middle East, Hitachi, Ltd., Schneider Electric, Electrolux, Samsung, Haier Inc., Panasonic Marketing Middle East & Africa FZE. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst products, the smart air purifiers segment is expected grow with a significant CAGR during the forecast period (2023-2030).”
product, the market is segmented into smart washing machines, smart refrigerators, smart air purifiers, smart air conditioners, smart TVs, and others. Smart washing machines held a significant share of the market. Smart washing machines have become popular in the MENA region due to their ability to offer convenience and efficiency. These appliances allow users to control and monitor their laundry remotely through smartphone apps. Therefore, the rising use of smartphones is driving the growth of the MENA market.
“Amongst distribution channel, offline held the largest share of the market in 2022.”
By distribution channel, the market is bifurcated into online and offline. The offline segment held a significant share of the market in 2022. This is mainly due to the offline channels providing a tactile experience and building trust among consumers. Moreover, significant purchases from stores with a physical presence, as they provide a sense of security and reliability drive the growth of the segment. Additionally, the trust factor associated with established offline retailers cannot be underestimated.
“Saudi Arabia dominated the market.”
The smart home appliances industry in Saudi Arabia is growing rapidly, with the adoption of smart technologies for sustainability and efficiency. Moreover, the country’s young, tech-savvy population and a growing awareness of energy conservation have fueled demand for smart appliances. Moreover, the Saudi market encompasses the development of smart grids, home automation systems, and security solutions. The average Saudi Arabian adult spends 4 hours and 25 minutes browsing the internet on their mobile phones, that’s 25% of the time they’re awake.
MENA Smart Home Appliances Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Mena Smart Home Appliances Market
6. Mena Smart Home Appliances Market Revenue, 2020-2030f
7. Market Insights By Product
8. Market Insights By Distribution Channel
9. Market Insights By Country
10. Mena Smart Home Appliances Market Dynamics
11. Mena Smart Home Appliances Market Opportunities
12. Mena Smart Home Appliances Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Regulatory Framework In The Mena Region
16. Pricing Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the MENA Smart Home Appliances Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA Smart home appliances market were the three major steps undertaken to create and analyze the adoption of MENA Smart home appliances in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Smart home appliances market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MENA Smart home appliances market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MENA Smart home appliances market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA Smart home appliances market. Further, we conducted factor analysis using dependent and independent variables such as product and distribution channel of the MENA Smart home appliances market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA Smart home appliances market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA Smart home appliances market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Key Stakeholders of Smart home appliances Market in the MENA Region
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Smart home appliances market. The data was split into several segments & and sub-segments post studying various parameters and trends in the areas of the product and distribution channel of the MENA Smart home appliances market.
The main objective of the MENA Smart home appliances Market Study
The current & future market trends of the MENA Smart home appliances market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the MENA smart home appliances market?
Q2: What are the driving factors for the growth of the MENA smart home appliances Market?
Q3: Which segment has the largest share of the MENA smart home appliances market by product?
Q4: What are the emerging technologies and trends in the MENA smart home appliances market?
Q5: Which country will dominate the MENA smart home appliances market?
Q6: Who are the key players operating in the MENA smart home appliances market?
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