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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Australia Smart Home Market Outlook
The Australia smart home market size reached USD 1.98 billion in 2023. The market is expected to grow at a CAGR of 8.04% between 2024 and 2032, reaching USD 3.96 billion by 2032.
Key Takeaways
- As of 2021, Smart speakers have emerged as the primary smart home devices within Australian households, with 12 million units in operation, according to the Australian Competition and Consumer Commission.
- According to the IEA, Australia's Smart Grid, Smart City project, finalized in 2021, featured the country's first comprehensive, commercial-scale smart grid. It aimed to measure and advocate for the advantages of smart grids, fostering broader acceptance and use among industry and consumers.
- Based on the latest data from the Australian Research Council, approximately 16 million IoT devices were operational in Australia in 2018. These devices encompass a variety of types such as home gadgets, health wearables, agricultural sensors, and autonomous factories and mines.
Smart appliances contribute significantly to the growth of the Australia smart home market by optimizing energy consumption since they adjust settings using real-time data or user preferences, leading to lower energy costs and an eco-friendlier household
Smart appliances offer energy efficiency, remote management, time-saving automation, advanced features, safety enhancements, and health monitoring, resulting in savings, convenience, personalized settings, improved safety, and health-conscious features for a modern home with new technology and appliances.
Hisense Australia plans to introduce a wider array of ConnectLife-enabled smart home appliances in the Australian market throughout 2024. This announcement follows showcases of innovations in kitchen, living areas, and home ecosystems at the Consumer Electronics Show (CES) 2024.
AI speakers enable voice-controlled automation for home devices, instant information access, entertainment hub functions, integration with smart devices for centralized control, hands-free communication, and personalized recommendations, enhancing the daily living experience in smart homes.
Market Segmentation
Australia Smart Home Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Component
- Hardware
- Smart Speakers
- Smart Appliances
- Others
- Software and Services
Market Breakup by Application
- Security
- Smart Appliances
- Energy Management
- Comfort and Lighting
- Home Entertainment
- Control and Connectivity
Market Breakup by Distribution Channel
- Specialty Stores
- Online
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia smart home market key players are Sonos, Inc., Signify, Allegion Plc, Electrolux Home Products Pty Ltd, Brilliant Lighting (Aust) Pty Ltd, Ring LLC, Access Hardware (TAS) Pty Ltd. and Clarke Security Pty Ltd among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 1.98 billion in 2023.
The market is projected to grow at a CAGR of 8.04% between 2024 and 2032.
The revenue generated from the smart homes market is expected to reach USD 3.96 billion in 2032.
The smart homes market is categorised according to components, which include hardware and software and services.
The key players are Sonos, Inc., Signify, Allegion Plc, Electrolux Home Products Pty Ltd, Brilliant Lighting (Aust) Pty Ltd, Ring LLC, Access Hardware (TAS) Pty Ltd. and Clarke Security Pty Ltd among others.
Based on the application, the market is divided into security, smart appliances, energy management, comfort and lighting, home entertainment, control, and connectivity.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.
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