The company is a product-driven firm that has resulted in over 1,470 patents. Its most recent product launches across all categories were engineered to compliment every home and add convenience to charge life. These products are part of the connected living experience. They are powered by artificial intelligence (AI) and connected via the internet of things (IoT) that can be controlled from anywhere, at any time, through eufy app available on all smartphones.
The company is betting big on the Middle East Smart Homes Market by showcasing all these offerings in a physical space where customers can envision the utility of using them. With this investment, the brand hopes to get growth at a CAGR of around 24% during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the rapidly increasing concerns over home security entwined with rising customer awareness about various benefits of smart home devices, such as remote monitoring, improved safety, energy management & efficiency, video analytics & motion detection, customization, etc.
Of all countries, the UAE is projected to dominate the market with the largest share over the forecast years, most prominently due to the rapidly improving living standards of people and growing utilization of smart home solutions for greater convenience in line with luxury living. Only time will tell if these projections hold true.
