|08 December, 2019

GCC smart home market to reach $3.4bln by 2025

The smart homes market in the Emirates will expand at a CAGR of 14.8%

Smart home app on digital tablet. Image for illustrative purposes.

Smart home app on digital tablet. Image for illustrative purposes.

Getty Images

The market for smart home technology in the Gulf Cooperation Council (GCC) is expected to rise to $3.4 billion by the end of 2025, a report by Business Wire showed.

 “With the GCC’s reputation as an early technology adopter, it is envisaged it could well emerge as a market leader for ‘domotics’. Using the internet of things (IoT) technology, the GCC’s smart homes will utilize automation to simplify and secure home environments,” Andreas Rex, Show Director at Messe Frankfurt Middle East which organises Intersec said.

The report comes ahead of Intersec, a trade fair for security, safety and fire protection which will be held in Dubai in January 2020.

“In many cases it will no longer be optional for developers to include the latest advanced technology for building fire and security, it will be subject to increasing regulation,” Rex said.

“With the issue of climate change and the drive towards meeting sustainable development goals, it is vital that technology is leveraged to influence the way we live,” Rex added.

The UAE is expected to lead the region in the ‘smart cities’ race. According to 6W Research, the smart homes market in the Emirates will expand at an annual compound growth rate (CAGR) of 14.8 percent over the next two years.

(Writing by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

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© ZAWYA 2019

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