All Things Smart Set To Drive CE Market As Retailers Look For Brands
As consumer electronics retailers in Australia hunt for the next big thing, new research has revealed that when it comes to smart devices voice activated speakers and connected smoke alarms are set to be big.
They claim that demand for smart-home devices will eclipse smartphones within five years, driven by lower pricing, improved user experiences, rapid technology developments, and compelling user applications and services.
The market research firm said consumers purchased 663 million smart-home devices worldwide last year, with sales reaching $84 billion. This is up 16 percent from $72 billion in 2016. Sales are expected to increase to $155 billion in 2023, with 1.94 billion units sold.
Smartphone sales, meanwhile, are expected to reach 1.86 billion units worldwide in 2023.
Asia-Pacific at $26 billion is tipped to come in behind the USA which will account for 40% of the market, Western Europe is set to account for $17 billion.
“The emergence of the smart home as a popular concept in recent years has led to a wealth of new device opportunities for vendors and technology developers,” said Bill Ablondi, Strategy Analytics’s director of smart-home strategies. “The smart-home device landscape is still in its formative stage and multiple players are fighting to establish a presence.”
He added “The scale of future demand suggests that there are huge opportunities for vendors that are able to take the lead in improving how people manage and organize their homes.”
The firm advised retailers to identify barriers to consumer adoption, as well as which bundles of products and services they expect will resonate with consumers.
In Australia Companies such as Swann are looking to take on Nest with a smoke detector alarm system and Arlo is set to launch a new product offing from a recently established spin off Company which will still be controlled by Netgear.