Rationalstat LLC
Demand growth in the Australian smart home market is predicted to reach USD 3.5 billion by 2030 at an annual growth rate of 8.7%.
WILMINGTON, Del., Oct. 29, 2023 (Globe Newswire) — The Australian smart home market value is valued at a whopping USD 2 billion in 2023, growing significantly by over 8.7% during the 2023 forecast period. It is expected to grow at a CAGR. -2030, according to the latest market report by RationalStat.
Market Definition, Market Scope and Report Overview
The smart home market refers to the rapidly expanding industry of connected and automated gadgets and systems within the home. These technologies aim to improve the convenience, security, energy efficiency, and overall well-being of your home. Devices such as smart thermostats, smart lighting, home security systems, smart appliances, and voice-controlled assistants are examples of smart home technology.
The growth of the smart home industry in Australia is due to a combination of improved technology, customer demand, government support and public knowledge of the benefits of smart home technology.
According to a detailed market assessment by RationalStat, the Australian smart home market is analyzed based on market segments including home automation systems, smart security systems, energy management systems, smart home entertainment systems, and geography/region (including Western). It has been. Australia, South Australia, Eastern Australia, Northern and Central Australia). The report also provides market size for Australia and regions for historical period 2019-2022 and forecast period 2023-2030.
Market intelligence for the Australian smart home market provides market size based on market value (USD/million euros) and volume (units) by various products/services/equipment, demand assessment across key regions, customer sentiment, Price points, cost structure, profit analysis of the entire value chain, financial evaluation, historical and forecast data, key trends across the industry, import and export data, trade overview, parts market by leading companies, etc.
Additionally, long-term sector and 10-year outlook for products/services and their impact on the Australian smart home market. It also includes the current state of the industry – production levels, capacity utilization, technology indices, etc.Important information includes country-wise manufacturing capacity, installed base, import volume, market size, key players, market size, dynamics, market data, insights, etc.
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Australian Smart Home Market: Segment and Market Share Analysis
Based on home automation systems, the smart home hub segment is expected to grow at a significant CAGR of 10% from 2023 to 2030. This segment provides homeowners with comfort, security, energy efficiency, and convenience by allowing them to control their smart devices.
Report summary
Report metrics
detail
base year
2023
Forecast period
2023-2030
Base year market size
2 billion USD
Market size forecast
3.5 billion USD
growth rate
8.7%
dominant segment
smart home hub
Key market drivers
Introduced companies
Amazon
apple
samsung
Arlo
ring
swan
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Competitive analysis and market structure
Leading companies adopt various strategies to strengthen their market share and gain competitive advantage over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies adopted by industry players. Key developments in the Australian smart home market include:
In 2021, Alarm.com created the first “touchless video doorbell” device to make home visits safer and reduce public health risks.
In 2020, Sonos Arc is a premium smart soundbar that brings immersive, movie-quality sound to homes around the world.
Prominent players and suppliers that are significantly contributing to the growth of the Australian smart home market include Google, Amazon, Apple, Samsung, Arlo, Ring, Swann, and more.
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RationalStat segments the Australian smart home market based on home automation systems, smart security systems, energy management systems, smart home entertainment systems and region.
Australia Smart Home Market Value (USD Million), Volume (Units), and Market Share (2019-2030) Analysis by Home Automation Systems
smart thermostat
smart lighting
smart home hub
Australia Smart Home Market Value (Million USD), Volume (Units) and Market Share (2019-2030) Analysis by Smart Security Systems
smart lock
smart camera
smart alarm
Australia Smart Home Market Value (USD Million), Volume (Units), and Market Share (2019-2030) Analysis by Energy Management Systems
Australia Smart Home Market Value (Million USD), Volume (Units), and Market Share (2019-2030) Analysis by Smart Home Entertainment Systems
smart tv
smart home theater
smart home audio system
Australia Smart Home Market Value (USD Million), Volume (Units), and Market Share (2019-2030) Regional Analysis
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Key questions answered in the smart home report:
What will the market value of the Australian smart home market be by 2030?
What is the market size of the Australian smart home market?
What are the market drivers of the Australian smart home market?
What are the key trends in the Australian smart home market?
Which region is leading in the Australian smart home market?
What are the key companies operating in the Australian smart home market?
What is the market share by key segments in the Australian smart home market?
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Check out our trend report
research method
RationalStat has developed cutting-edge research methodologies to crunch numbers and provide our clients with the best possible real-time insights. We combine diverse industry experience, data analysis, and expert perspectives to create research methodologies for market sizing and forecasting.
RationalStat combines secondary sources and primary research to assess market size and create forecasts. The main steps required to accurately derive market numbers are:
Define the problem by understanding the market and the type of data your client needs.
Collection and collection of data through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Generate hypotheses and create market figures, forecasts, influencing factors, and their relationships.
Evaluate and analyze data with reference to data sources used and leveraged.
With the help of experienced analysts, we verify, interpret, and finalize the data by combining details collected from primary and secondary sources.
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About RationalStat LLC
RationalStat is an end-to-end Australian market intelligence and consulting firm providing comprehensive market research reports, customized strategies and consulting research. The company has offices in India, Mexico and the United States, supporting Australia and a diversified business. The company has over 80 consultants and industry experts who develop over 850 market research and industry reports annually for Report Store.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to meet the needs of our clients. Additional services offered by the company include consumer research, country reports, risk reports, ratings and recommendations, financial research, due diligence, sourcing and supply chain research, data analysis, and analytical dashboards.
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