In the past few years, there’s been a rapid increase in the use of home automation devices and technologies across the world. The mass adoption of connected devices and the rise of Internet of Things (IoT) has led to the rise of the Smart Home market which offers consumers interconnected and improved access to a range of services.
In August 2019, Venture Insights conducted a consumer survey focussing on electricity, solar energy, batteries, smart homes, electric vehicles and climate change in the Australian market. In this report, we present the key insights drawn from the smart home section of the survey and discuss the current state of the smart home market in Australia, key drivers for future growth, the ideal ecosystem provider and the scope for bundled services.
Smart homes market in Australia
Smart home devices adoption
Smart lighting, home security and smart thermostats are expected to be the fastest growing segments in the home automation market
Key drivers for converting to smart home in the next 5 years
Global tech giants and Telstra most trusted platforms for smart home devices
Bundling of energy and telco services
What’s happening in the smart home market?
List of charts/tables
Figure 1. Some smart home devices that are already in the Australian market
Figure 2. Smart home ownership of the survey participants
Figure 3. Australian Smart Speaker Penetration (Household Ownership)
Figure 4. Number of participants that don’t own a smart home device by age
Figure 5. Fastest growing smart home device segments in the next five years [Q. What devices would you have within five years?]
Figure 6. Responses of 18-24 and 65+ years age groups to the survey question in Figure 5
Figure 7. Key drivers of adopting smart homes
Figure 8. Key drivers of adopting smart homes for 18-24 and 65+ years age groups
Figure 9. Most trusted smart home providers in Australia [Q. Which brand would you trust to be your smart home provider?]
Figure 10. Broadband services by electricity provider
Figure 11. Smart homes landscape in Australia – illustrative