The Middle East and Africa (MEA) region is emerging as a rapidly growing market for smart home technologies, driven by increasing consumer demand for security, energy efficiency and intelligent living solutions.

With a growing tech-savvy population, rapid urbanisation, and an increasing focus on sustainability, the region is becoming a key hub for innovation in IoT and smart living solutions.

“In the GCC alone, the smart home market is projected to grow to $6.72 billion by 2033 from $2.69 billion in 2024,” said a senior executive of an ADGM-registered venture capital firm, quoting a research report.

“The growth is propelled by the rise in home automation, AI-driven security solutions, IoT devices, and energy-efficient products,” said Leenong Li, partner and senior executive officer of Joy Global, an ADGM-registered venture capital firm.

Chinese smart home technology company Aqara has tied up with JST (Joy Smart Technology) to bring smart home technologies to the UAE and the first smart home showroom in the MENA region was opened at Abu Dhabi's Galleria Al Maryah Island. Spanning 110 square metres, Aqara's new showroom offers a comprehensive, end-to-end smart home experience.

Joy Smart Technology is a joint venture between Joy Global Ltd., a venture capital fund, and Aqara, a global leader and pioneer in IoT.

Joy Global Ltd. is a wholly owned subsidiary and the international arm of Joy Capital. Joy Capital is a China-based VC firm which invested over $2 billion in nearly 100 startups.

The showroom launch marks a step in the company's global expansion strategy, aimed at increasing its footprint in emerging markets with a growing interest in smart home solutions.

The new showroom features a demo of Aqara Studio, a customizable IoT platform, integrating device networking, smart management, intuitive visualization programming, and seamless building operations into one solution. Additionally, it presents security and surveillance concepts for households with elderly family members or young children.

 “The Aqara products and solutions represent the accumulation of relentless R&D pursuit over the past 16 years, with thousands of technology patents developed, in the field of smart living technology development,” said Eugene You, founder CEO and Chairman of Aqara

“The establishment of JST and this Aqara showroom actually exemplify our conviction of best technology must be localized and fit into local economic and social development goals, in order to generate tangible consumer experiences and sustainable social benefits,” said Leenong Li.

“JST has achieved several significant commercialisation milestones, including installing smart home technologies in over 400 new villas. This year, we are also set to begin the delivery of 30,000 smart gas meters in Abu Dhabi, reinforcing our commitment to providing comprehensive smart home solutions,” he said.

(Reporting by Bhaskar Raj; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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