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Research Shows SmartHouse Tech Demand Surging

The connected home market is booming, with nearly two thirds of Australian households having at least one IOT (Internet Of Things) product at the end of 2021, according to research by emerging technology analyst firm Telsyte.

With more time spent at home and awareness of products growing, more than one million homes adopted [email protected] products such as smart speakers, smart lighting and smart security cameras from the likes of Arlo since 2020.

Now in its ninth year, the Telyste study found sales of such products reached $1.7 billion in 2021. It is expected to hit $4.4 billion by 2025.

The fastest growing categories included smart security lighting, up 50 per cent, installation services, up 40 per cent, and smart speakers, up 28 per cent.

Telyste suggest smart speakers are a gateway for the market, with 2.9 million (29%) Australian homes with at least one. Google and Amazon lead the market with more than 80 per cent combined installed base share.

There is a growing desire for home improvement through tech, with invested adopters housing more than five different types of [email protected] products, with two thirds of their smart home budget focused on convenience and better connectivity.

This ranks next to 45 per cent among potential adopters.

This leaves the smart household appliances market set for a continuing boom, with new business models such as subscription services potentially emerging this segment.

As for lower cost categories such as robot vacuums, one in 10 Aussie households have already adopted, and 51 per cent of consumers have unsurprisingly indicated interest in a home that “automatically” cleans itself.

Meanwhile, the average number of connected devices in homes is set to rise from 20.5 in 2021 to 33.8 by 2025.

The lounge and kitchen are the rooms on top of consumers’ list to “modernise”.

On top of all this growth, smart energy homes are helping generate demand for electric vehicles, with 16 per cent of consumers already interested in new concepts around the future family car.

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