The Comfort & Lighting market in EU-27 is experiencing steady growth due to increasing customer preferences for energy-efficient and smart lighting solutions. Customers are becoming more conscious about their energy consumption and are opting for lighting solutions that are both environmentally friendly and cost-effective. Additionally, the market is being driven by the increasing adoption of smart home technologies, which allow customers to control their lighting systems remotely and enhance their overall comfort and convenience.
Customer preferences: Customers in the EU-27 region are increasingly prioritizing energy-efficient lighting solutions. This is driven by both environmental concerns and the desire to reduce energy costs. LED lighting, in particular, is gaining popularity due to its long lifespan and low energy consumption. Customers are also looking for lighting solutions that offer adjustable brightness and color temperature, allowing them to create different atmospheres in their homes or workplaces.
Trends in the market: One of the key trends in the Comfort & Lighting market in the EU-27 is the growing demand for smart lighting solutions. Smart lighting systems allow customers to control their lights remotely using their smartphones or voice assistants. This enables them to adjust the brightness, color, and timing of their lights according to their needs and preferences. The integration of smart lighting with other smart home devices, such as thermostats and security systems, is also gaining traction. Another trend in the market is the increasing adoption of human-centric lighting. This type of lighting mimics natural daylight and adjusts its color temperature throughout the day to promote better well-being and productivity. Customers are recognizing the benefits of human-centric lighting in improving their mood, sleep quality, and overall comfort.
Local special circumstances: The EU-27 region has been actively promoting energy efficiency and sustainability in recent years. This has led to the implementation of various energy-saving regulations and initiatives, which have had a positive impact on the Comfort & Lighting market. For example, the EU has set targets to phase out traditional incandescent bulbs and promote the use of energy-efficient alternatives, such as LED lighting. These regulations have created a favorable environment for the growth of the market.
Underlying macroeconomic factors: The growth of the Comfort & Lighting market in the EU-27 is also influenced by macroeconomic factors. The region's stable economic growth and rising disposable incomes have increased the purchasing power of customers, allowing them to invest in higher-quality lighting solutions. Additionally, the construction industry in the EU-27 is booming, leading to an increased demand for lighting products in residential, commercial, and industrial sectors. As a result, the market is expected to continue its upward trajectory in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.
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