“The booming Australia smart home market is set to witness unprecedented growth, driven by the increasing adoption of IoT devices and the rising demand for energy-efficient solutions, making it a hotbed for innovation and an exciting avenue for tech enthusiasts.”
The smart home market in Australia is booming, with a value of US$2.0 billion in 2023 and expected to grow at a significant rate of 8.7% over the forecast period of 2023-2030. Smart home technology includes devices such as smart thermostats, smart lighting, home security systems, smart appliances, and voice-controlled assistants, all aimed at improving convenience, security, energy efficiency, and overall well-being in households.
The growth of the smart home industry in Australia can be attributed to technological advancements, increasing customer demand, government support, and the public’s awareness of the benefits of smart home technology. The market has been analyzed based on segments such as home automation systems, smart security systems, energy management systems, and smart home entertainment systems, as well as geographical regions.
Key players in the Australia smart home market include Google, Amazon, Apple, Samsung, Arlo, Ring, and Swann, among others, who adopt various strategies to gain a competitive edge, such as mergers & acquisitions, partnerships, collaborations, and product launches. For example, Alarm.com created the first “Touchless Video Doorbell” device in 2021 to enhance home safety and reduce public health hazards.
The report by RationalStat provides comprehensive market intelligence, including market sizing, customer sentiments, pricing, cost structures, financial assessments, historical and forecast data, import-export data, key developments, and more. It also offers a 10-year outlook on the sector and its implications on the Australia smart home market.
The market is segmented based on home automation systems, smart security systems, energy management systems, smart home entertainment systems, and regions. Each segment’s market value, volume, and market share are analyzed for the historical period of 2019-2022 and the forecast period of 2023-2030.
Key questions answered in the report include the market value and size of the Australia smart home market by 2030, market drivers, key trends, leading regions, major companies operating in the market, and market shares by key segments.
RationalStat is an Australia market intelligence and consulting company that provides comprehensive market research reports, customized strategies, and consulting studies. With a team of over 80 consultants and industry experts, they offer a range of services including market research, consumer research, risk reports, financial research, data analytics, and more.
Overall, the Australia smart home market is experiencing significant growth and offers immense opportunities for both established players and new entrants in the industry. With the increasing demand for convenience, security, and energy efficiency in households, smart home technology is set to become an integral part of Australian homes in the coming years.