Australia Smart Home Market Research Report, 2028

Australia has seen a significant rise in internet penetration and the adoption of high-speed internet. With more households gaining access to reliable internet connections, the infrastructure required for smart home devices to function optimally is becoming more widespread. Continuous advancements in technology, such as the development of faster and more reliable wireless networks (like 5G), improved sensors, enhanced artificial intelligence, and machine learning capabilities, have propelled the growth of the smart home market. These technological improvements have made smart devices more efficient, affordable, and user-friendly. There's a growing awareness among consumers about the benefits offered by smart home technology. Australians are increasingly seeking convenience, security, energy efficiency, and the ability to control and monitor their homes remotely. This demand is driving the adoption of smart home devices. The development of smart communities and smart city initiatives has played a role in promoting smart home technologies. This trend includes infrastructural support for connected living within neighborhoods and urban areas. The shift towards remote work and flexible lifestyles has influenced the demand for smart home solutions. Australians are looking for ways to manage their homes efficiently, control various systems remotely, and create comfortable and productive home environments. Australia's abundance of sunshine has encouraged the adoption of solar energy. Smart home technology, such as solar panels and energy storage systems, enables homeowners to harness renewable energy sources, contributing to both energy efficiency and cost savings. Insurance companies are increasingly offering incentives for homeowners who install smart home security systems. Discounts on insurance premiums are provided to encourage the use of these systems, promoting both safety and cost savings for homeowners. According to the research report “Australia Smart Home Market Overview, 2028," published by Actual Research, the Australia Smart Home market is anticipated to add more than USD 5 Billion from 2023 to 2028. Voice assistants like Amazon's Alexa, Google Assistant, and Apple's Siri continue to gain traction in Australian smart homes. The ease and convenience of controlling various devices, from lights to thermostats, through voice commands have made this feature increasingly popular. The pandemic increased the focus on health and wellness. Smart home devices that cater to health monitoring, such as air quality sensors, health trackers, and connected wellness equipment, have seen increased interest. Consumers are increasingly seeking customizable and personalized smart home solutions. Companies are offering more adaptable and versatile systems, allowing users to tailor their setups to their specific needs and preferences. Smart technologies are not limited to indoor spaces. Australians are exploring smart solutions for outdoor spaces, including smart irrigation systems, outdoor lighting, and weather-adaptive control systems for pool and spa equipment. The use of smart technology for health monitoring and elderly care is expanding. Remote health monitoring systems, medication management, and emergency response features are becoming more prevalent, catering to the healthcare needs of aging populations. Internet of Things (IoT) technology is being employed to create comprehensive emergency response systems, offering immediate assistance and coordinating emergency services during crises.

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Australians prioritize safety and security within their homes. The growing awareness of security threats, including burglary, vandalism, and other intrusions, has led to an increased demand for sophisticated security systems. Smart home security solutions offer real-time monitoring, alerts, and remote access, providing homeowners with peace of mind and a sense of control over their property's security. Smart home security systems have evolved beyond traditional alarm systems. They now include sophisticated features such as smart cameras, motion sensors, smart locks, and doorbell cameras with two-way audio and video capabilities. These integrated systems offer comprehensive security measures and the convenience of remote monitoring and control, contributing to their increased adoption. The declining costs of smart home security devices and the broader accessibility of these systems have led to increased adoption. Entry-level security solutions are becoming more affordable, appealing to a larger consumer base, including households, small businesses, and rental properties. In addition based on protocol, Hybrid Protocols, which combine multiple communication standards and protocols, address the issue of compatibility among different smart home devices. As the market is saturated with devices using various communication standards (such as Wi-Fi, Bluetooth, Z-Wave, Zigbee, and proprietary protocols), a single universal standard has been challenging to establish. Hybrid Protocols work by combining multiple standards, ensuring interoperability among different devices, allowing them to communicate and work together seamlessly. The smart home industry is evolving rapidly, with new devices and communication protocols continually entering the market. Hybrid Protocols offer adaptability to incorporate future technologies and standards. This ensures that the smart home system remains future-proof, allowing for easy integration of upcoming devices and preventing obsolescence. Retrofitting refers to the process of adding smart technology to existing homes. As the majority of houses in Australia are already built and in use, the demand for retrofit solutions is substantial. Homeowners prefer retrofitting as it allows them to upgrade their homes with smart devices without the need for extensive renovations or structural changes. Retrofit solutions offer flexibility, allowing homeowners to tailor their smart home upgrades according to their specific preferences and needs. They can choose the devices and systems they wish to install, focusing on areas they consider most important, such as security, energy efficiency, or convenience. Retrofit smart home devices are designed for easy installation and integration into existing infrastructures. They are typically user-friendly and compatible with standard electrical systems, enabling homeowners to install these devices without significant technical expertise or alterations to their homes. Furthermore, Retailers and e-commerce platforms play a significant role in the indirect segment. As the demand for smart home devices rises, there is a corresponding increase in the availability of these products through various retail channels. Customers can explore, compare, and purchase smart home devices from physical stores, online marketplaces, or specialty home improvement retailers. Moreover, Proactive solutions are equipped with AI and machine learning capabilities. These technologies enable smart home systems to learn user behaviours, anticipate needs, and automate tasks without explicit commands. As AI continues to advance, proactive systems are becoming more intuitive and predictive. The proactive nature of these systems significantly enhances user convenience by automating tasks and reducing the need for manual adjustments. By taking proactive measures, these systems save users time and effort in managing various aspects of their homes. Considered in this report: • Geography: Australia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Aspects covered in this report: • Australia Smart Home market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Security and Access Control • Lighting Control • Entertainment System • HVAC Control • Smart Speakers • Smart Home Appliances • Smart Kitchen Appliances • Smart Home Healthcare Systems • Smart Furniture • Other Controls (Smart Meter, Smart Plug, Smart Smoke detector, Smart hub) By Protocols • Wireless Protocols • Wired Protocols • Hybrid Protocols

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By Application • New Construction • Retrofit By Sales Channel • Direct • Indirect By Software & Services • Behavioural • Proactive The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Home industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.