Australia smart home market expected to reach $6.5 billion by 2030

The value of the Australia smart home market is set to reach more than $6.5 billion by 2030.

The value of the Australia smart home market is set to reach more than $6.5 billion by 2030. Photo: Jakub Zerdzicki

Walk into your house and set up an air purifier to clean your home’s air. Tell Alexa (or any other home virtual assistant) to play your favorite song or set your security alarm from your bathtub after a long day at work. The smart home has got us all and it’s here to stay.

The value of the Australia smart home market is set to reach more than $6.5 billion by 2030 (source), growing with a compound annual growth rate (CAGR) of 15.73% from 2024, driven by an increase in demand for security applications, electricity efficiency, and enhanced overall comfort. Market value in 2023 stood at $2.36 billion according to Research and Markets.

In addition to allowing consumers to have better control of their energy use, automation, and remote-control use in smart homes provide exceptional convenience and comfort improving quality of life.

Australians are more inclined to adopt smart-home technology due to a preference for sustainable residing, government incentives related to electricity efficiency and, the growing ageing population with 7.6 million households now having adopted at least one smart home product (source).

74% of Australian households saw an increase of their electricity bills in 2023 and 28 % of households want to reduce environmental impact with smart energy solutions. 

“Among the appliances Australians use the most, smart vacuum cleaners take one of the top spots, a most-loved gadget that helps millions of households reach hard-to-clean spots, assists people with mobility issues, or simply makes life more convenient with daily household chores, saving time and allowing consumers to focus on other tasks”, a spokesperson from ECOVACS reports.

Nearly one in five households own a vacuum robot, according to Australian emerging technology analyst firm Telsyte. The value of the global robot vacuum cleaner market size in 2022 was around $ 4 billion, according to Global Market Insights.

In Australia, the revenue in the vacuum cleaner’s segment is projected to reach $0.52 in 2028. Australians have nearly 24 connected devices per home as of 2023, Telsyte says.

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