Australia Smart Home Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Australia Smart Home Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Australia Smart Home Market will be US$ 5.37 Billion during the forecast year 2028 according to Renub Research. A smart home is a simple home setup where appliances and equipment can be operated remotely via a smartphone or networked computer from anywhere with internet access. Australians have embraced innovative home technology, with nearly two-thirds (6.3 million) of households having at least one smart home product in 2021, according to Telsyte.

Devices in an intelligent home are interconnected through the internet, allowing the user to remotely monitor functions, such as home security access, temperature, lighting, and a home theatre. It can be built up through wireless or hardwired systems. Then, they are remotely controlled through a smart home app on the smartphone or other networked devices.

Australia Smart Home Industry is expected to grow with a Double Digit CAGR of 10% from 2022 – 2028.

Smart homes offer homeowners comfort, security, energy efficiency, and convenience by allowing them to control their smart devices in Australia. The specific types of smart homes are lighting control, security and access control, heating, ventilation, and air conditioning (HVAC) control, entertainment control, and other controls, smart speakers, smart kitchen, home appliances, home healthcare, and smart furniture.

However, Australia is six to 12 months behind the US in ingenious home appropriation. In Australia, people are applying an intelligent home feature in which they can close and open their garage door remotely. Approximately 2.3 million Australian homes are expected to have smart home technology. Home technologies have been skyrocketing, and it's a trend that's benefited from people being at home and no longer spending their disposable income on travel or other entertainment.

By Application: Smart Appliances will dominate the Australia Smart Home Industry

Based on application, The Australian smart home market is classified into seven types: Energy Management, Comfort and Lightening, Home Entertainment, Control and Connectivity, Security, and Smart Appliances. Smart Appliances will dominate the market share due to low cost. Aussie people are buying smart home products to make their lives convenient; appliances like TVs, refrigerators, microwave ovens, air purifiers, etc., that have intelligent home integration give the ability to customize their actions according to a specific schedule or event.

However, with the increasing penetration of smart homes, rising home improvement projects, growing internet penetration, and rising awareness about smart appliances, the Online distribution segment of smart devices to gain the highest grip and rapid developments in IT and wireless communication, fastest technological advancements have significantly driven the segment.

In Addition, Control and Connectivity also holds a significant share. It includes the essential equipment part of an intelligent home network (hubs, switches, smart speakers, plugs). Because of the high quality of customer service, security, convenience gives comfort and convenience of buying it. As per our research report, Australia Smart Home Market was valued at US$ 3.03 Billion in 2022.

By Product: Smart Speaker, Monitoring Camera, Video Doorbells, Smart Light, Security System have Bright Future

Based on the Product, Australia Smart Home Market is divided into eleven types: Smart Speaker, Interactive Security Systems, Smart Thermostats, Monitoring Camera, Video doorbells, Smart light bulbs, Motion Sensor, Smart Light Switch, Door/Window Sensor, Smart door lock and others. The increasing demand in Australia market for digitally connected devices leads due to devices such as smart security cameras and video assist doorbells provide advanced security solutions.

In Addition, Smart security cameras make it simple to observe a home from anywhere, and they are feature customizable solutions and well-equipped. Smart security cameras are also available with do-it-self kits. The Australian user set up security alerts as per their requirement or opt to pay the subscription fee and free for 24/7 surveillance services.

Key Players Analysis:

Some key players in the Australia Smart Home Market are Philips Dynalite, Sonos, and Alarm. Com, Allegion, Plc, and Electrolux AB

In 2021, Alarm.com developed the first ""Touchless Video Doorbell"" product to make home visits and reduce public health risks and deliveries safer.
In 2020, Sonos Arc introduced a premium smart soundbar that brings immersive and cinema-quality sound to homes worldwide.

Renub Research latest report titled “Australia Smart Home Market by Application, Products, Active Household Numbers, Penetration rate, Company (Philips dynalite, Sonos, Alarm.com, Allegionplc, Electrolux AB)” report provides current trends and analysis of Australia Smart Home Industry.

Application – Market, Volume & Households Penetration break up into 6 Segments, and each of these segments further divided into 3 sub-segments

1. Energy Management

a. Energy Management Market
b. Number of Active Households
c. Application Household Penetration

2. Comfort and Lighting

a. Comfort and Lighting Market
b. Number of Active Households
c. Application Household Penetration

3. Home Entertainment

a. Home Entertainment Market
b. Number of Active Households
c. Application Household Penetration

4. Control and Connectivity

a. Control and Connectivity Market
b. Number of Active Households
c. Application Household Penetration

5. Security

a. Security Market
b. Number of Active Households
c. Application Household Penetration

6. Smart Appliances

a. Smart Appliances Market
b. Number of Active Households
c. Application Household Penetration

Products – Market and Volume breakup of 11 Smart Home Products in Australia

1. Smart Speaker
2. Interactive Security System
3. Smart Thermostat
4. Monitoring Camera
5. Video Doorbell
6. Smart Light Bulb
7. Motion Sensor
8. Smart Light Switch
9. Door/Window Sensor
10. Smart Door Lock
11. Others

Company have been covered from 3 Viewpoints

• Overview
• Recent Development
• Revenue

Company Analysis

1. Philips dynalite
2. Sonos
3. Alarm.com
4. Allegionplc
5. Electrolux AB