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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Comparación de regiones

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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.