Australia Smart Home Market is anticipated to increase at a CAGR of 15.73% during the forecast period (2024 to 2030)
The affinity for connected devices and the Internet of Things (IoT) has fueled the ascent of the smart home market. With a tech-savvy populace and a penchant for innovation, Australians embrace smart home solutions to streamline their existence and bolster home safety. The convenience supplied by IoT-enabled gadgets, from smart thermostats to automated light systems, resonates with the country's modern-day, fast-paced living. This burgeoning fashion reflects Australia's eagerness to adopt present-day technology, shaping the future of home automation Down Under.The evolution of smart towns and communities has propelled the rise of the Australia smart home market. City areas embody digitalization and connectivity, so residents seek revolutionary solutions to enhance their lives. Smart metropolis projects prioritize sustainability, efficiency, and connectivity, fostering surroundings conducive to adopting domestic automation technologies. This synergy among urban improvement and technological innovation drives the need for smart home solutions across Australia, fueling the market's growth and remodeling how Australians stay. So, the Australia smart home market was US$ 2.36 Billion in 2023.
The considerable adoption of solar electricity in Australia has led to the market's boom by promoting electricity efficiency and sustainability. Smart home technologies, such as energy-tracking systems and smart appliances, are being increasingly adopted to supplement solar energy usage, driving the demand for interconnected, energy-efficient homes. Customers' extensive demand for customizable and personalized smart home solutions has fueled the increase in the Australian market. With a focal point on comfort and tailored reports, smart home technology offers flexibility and control, expanding adoption. This trend shifts toward personalized residing environments tailored to people's choices and existence.
Security applications are among the most prominently used in the Australia smart home market
By application, the Australia smart home market is fragmented into Energy Management, Comfort and Lighting, Home Entertainment, Control and Connectivity, Security, and Smart Appliances. Security is one of the leading applications in the Australia smart home market because of its paramount importance for homeowners. With rising concerns about housebreaking and property intrusion, smart home security structures offer peace of mind via remote monitoring, real-time alerts, and surveillance abilities. Australians prioritize safety in their homes and households, driving the need for smart locks, safety cameras, and integrated alarm systems. Further, the convenience of controlling and monitoring security gadgets through smartphones aligns with the universal tech-savvy way of life in Australia, cementing security as a cornerstone of the smart home market.Smart speakers are one of the most sought-after products in the Australia smart home market
By products, the Australia smart home market is divided into Smart speakers, Interactive Security Systems, Smart Thermostats, Monitoring Cameras, Video doorbells, Smart light bulbs, Motion sensors, Smart light switches, Door/window sensors, Smart door locks, and Others. Smart speakers are among the most popular products in the Australia smart home market. This is due to their versatility and convenience. These gadgets are principal hubs for controlling smart home devices, playing tracks, answering queries, and handling daily responsibilities through voice instructions.Australians recognize the hands-free capability and seamless integration with popular smart home systems like Google Assistant and Amazon Alexa. The enchantment of smart speakers transcends age and tech proficiency, making them reachable to an extensive demographic. Their affordability and persistent improvements in AI technology also drive their adoption, solidifying their reputation as necessary components of the modern Australian smart home.
Key Players
Companies employ various strategies such as partnerships, acquisitions, and geographical expansions to strengthen their position in the market. Further, they focus on enhancing their product offerings to meet changing user needs. The Australia smart home market comprises Philips Dynalite, Sonos, Alarm.com, Allegion plc, Electrolux AB, Amazon, Apple Inc., Xiaomi (China), and Honeywell International Inc.The report titled “Australia Smart Home Market By Applications (Energy Management, Comfort and Lighting, Home Entertainment, Control and Connectivity, Security, and Smart Appliances), Products (Smart Speakers, Interactive Security Systems, Smart Thermostats, Monitoring Cameras, Video Doorbells, Smart Light Bulbs, Motion Sensors, Smart Light Switches, Door/Window Sensors, Smart Door Locks, and Others) Company Analysis (Philips Dynalite, Sonos, Alarm.com, Allegion plc, Electrolux AB, Amazon, Apple Inc., Xiaomi (China), and Honeywell International Inc.)” provides a complete study of the Australia Smart Home Industry.
Application - Australia Smart Home Market breakup in 6 viewpoints:
1. Energy Management2. Comfort and Lighting
3. Home Entertainment
4. Control and Connectivity
5. Security
6. Smart Appliances
Products - Australia Smart Home Market breakup in 11 viewpoints:
1. Smart speakers2. Interactive Security Systems
3. Smart Thermostats
4. Monitoring Cameras
5. Video doorbells
6. Smart light bulbs
7. Motion sensors
8. Smart light switches
9. Door/window sensors
10. Smart door locks
11. Others
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Philips Dynalite2. Sonos
3. Alarm.com
4. Allegion plc
5. Electrolux AB
6. Amazon
7. Apple Inc.
8. Xiaomi (China)
9. Honeywell International Inc.
Table of Contents
Companies Mentioned
- Philips Dynalite
- Sonos
- Alarm.com
- Allegion plc
- Electrolux AB
- Amazon
- Apple Inc.
- Xiaomi (China)
- Honeywell International Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | February 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.36 Billion |
| Forecasted Market Value ( USD | $ 6.56 Billion |
| Compound Annual Growth Rate | 15.7% |
| Regions Covered | Australia |
| No. of Companies Mentioned | 9 |
