GCC smart home market is expected to be more than US$3.4bn by the end of 2025, according to a report by ResearchAndMarkets
GCC countries smart home market has seen substantial year on year growth in the number of smart homes and is expected to further grow in the upcoming years. The smart home is a house which uses Internet-connected devices to monitor and control systems and appliances remotely.
With the increasing digitalisation and internet connectivity across the GCC countries, the smart home market is gaining traction as the smart home is one such novel invention in a series of sustainable products which has been unleashed recently in the market.
According to ResearchAndMarkets, urban populations across the GCC countries extensively show their inclination towards home automation as this novel technology offers ease of living and saves energy.
Increasing adoption, declining price trends of sensors and processors, the rising disposable income of people and the ever need for improving home security are among other factors expected to drive the growth of GCC countries smart home market over the forecast period, the report further added.
Significant market share in GCC countries includes the UAE, Saudi Arabia, Kuwait and Bahrain. In Saudi Arabia, the smart home security market is booming as Ministry of Interior in Saudi Arabia has made it compulsory for all businesses to have surveillance cameras installed in their premises to protect against theft-related crimes.