The sector exhibited significant fluctuations over the past decade, with values peaking at 130.7 Million Euros in 2019 before declining. Recent years show a downward trend: -4.24% in 2022, followed by a -2.38% forecast in 2023. The 5-year CAGR for 2023 is -1.93%, projecting a continued decline to 100.65 Million Euros by 2028, with an anticipated CAGR of -2.14%.
Future Trends to Watch
Closely monitor advances in smart home technologies and sustainability trends, which could drive innovation and potentially stabilize or reverse the downward trajectory. Additionally, supply chain dynamics and European regulatory changes may significantly impact the sector.
