Smart Home - Australia

  • Australia
  • The projected revenue in the Smart Home market for Australia is expected to reach €3.4bn in 2024.
  • This represents a significant growth opportunity for the country.
  • Furthermore, it is predicted that the revenue will continue to grow at an annual growth rate (CAGR 2024-2028) of 8.91%.
  • This growth rate is expected to result in a projected market volume of €4.8bn by 2028.
  • In terms of active households, it is estimated that the number will reach [users_currentlayer_yearend] by 2028.
  • This indicates a substantial increase in the adoption of Smart Home market technology among Australian households.
  • Additionally, the household penetration rate is projected to rise from 51.4% in 2024 to 93.7% by 2028.
  • This suggests that a significant portion of Australian households will embrace Smart Home market technology in the coming years.
  • Currently, the average revenue per installed Smart Home market in Australia is expected to amount to €613.60.
  • This figure reflects the revenue generated per Smart Home market installation and underscores the potential profitability of the market segment.
  • When compared globally, it is worth noting that United States leads the way in terms of revenue generation in the Smart Home market.
  • In 2024, United States is projected to generate revenue of €35,980.0m.
  • This demonstrates the dominance of the United States in the global Smart Home market.
  • The Smart Home market in Australia presents a lucrative opportunity for both businesses and consumers.
  • With the projected growth in revenue, increasing household penetration, and average revenue per installed Smart Home market, there is ample room for further development and innovation in this market segment.
  • Australia is experiencing a surge in demand for smart home technology, with homeowners increasingly installing connected devices to enhance convenience and energy efficiency.

Key regions: United States, United Kingdom, Germany, Europe, Norway

 
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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.

Vue d’ensemble

  • Revenue
  • Smart Homes
  • Demographics
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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