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Australia Connected Homes Market By Functionality (Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, Smart Appliance); By Component (Light Control Solution, Security Solution, Entertainment Solution, Home Healthcare Solution, Energy Management Solution); By Platform (Smartphones, Laptops, Home Gateway, Other Platforms); By Type of Homes (Apartment, Villa/Bungalow, Other Homes) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

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Published: | Report ID: 39395 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period  2019-2022
Base Year  2023
Forecast Period  2024-2032
Australia Connected Homes Market Size 2023  USD 1,092.35 Million
Australia Connected Homes Market, CAGR  8.50%
Australia Connected Homes Market Size 2032  USD 2,276.30 Million

Market Overview

The Australia Connected Homes Market is projected to grow from USD 1,092.35 million in 2023 to USD 2,276.30 million by 2032, at a CAGR of 8.50%.

The Australia Connected Homes Market is experiencing substantial growth driven by increasing consumer interest in home automation for enhanced security, energy efficiency, and convenience. This surge is supported by high internet penetration and the widespread adoption of IoT and smart devices across Australian households. Market trends include a shift towards integrating advanced AI and voice-controlled technologies, offering users personalized and intuitive management of their home environments. Furthermore, government initiatives promoting smart energy solutions and security technologies are fostering broader acceptance and adoption of connected home solutions, enhancing daily living standards for Australians.

In the Australia connected homes market, geographical analysis reveals a concentrated adoption in urban areas like Sydney, Melbourne, and Brisbane, where higher income levels and tech-savvy populations drive the demand for smart home technologies. Key players influencing this market include ABB Limited, known for its comprehensive smart home solutions, Philips Dynalite, which specializes in lighting controls, and Sonos with its advanced audio systems. Other significant contributors include Apple Inc. and Amazon, both enhancing user experiences through integrated smart devices and voice assistant technologies, ensuring a competitive and innovative market landscape.

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Market Drivers

Rising Demand for Convenience and Comfort

In Australia, there is a growing demand for enhancing home environments to simplify day-to-day activities, prompting a surge in smart home technology adoption. For instance, the adoption of smart home technology in Australia has seen a remarkable increase. According to recent market research, the number of smart home devices per household has grown by 30% in the past year alone. Residents are now using an average of 8.5 connected devices, ranging from smart thermostats to voice-controlled lighting systems. These devices, capable of automating tasks and remotely controlling various home systems such as lighting, temperature, and entertainment, significantly contribute to a more convenient and comfortable lifestyle. The ability to manage these functions from a smartphone or other devices not only saves time but also allows for a personalized living experience, enhancing the overall quality of life for Australian residents.

Focus on Energy Efficiency

With a strong emphasis on sustainability, Australia’s high adoption rate of solar energy complements the integration of smart home technologies, such as energy-tracking systems and smart appliances. Australia’s commitment to sustainability is reflected in its solar energy adoption. As of the latest data, 40% of Australian households have installed solar panels, contributing significantly to the country’s renewable energy goals. This emphasis on clean energy aligns perfectly with the integration of smart home technologies designed to optimize energy usage. These technologies are designed to optimize energy usage, making homes more energy-efficient and reducing the overall environmental footprint. The trend towards eco-friendly living is not only environmentally beneficial but also cost-effective, driving the demand for connected homes that align with the country’s sustainability goals.

Enhanced Security and Safety

Security is a paramount concern for homeowners, and Australia’s connected homes market is responding with advanced smart security systems. The demand for advanced smart security systems has surged, with 70% of Australian homeowners investing in these technologies. Remote monitoring, smart locks, and connected cameras are now standard features in modern homes. These systems, equipped with features like remote monitoring, smart locks, and connected cameras, offer homeowners real-time surveillance and control over their properties. The enhanced security measures provided by these technologies not only deter potential intruders but also offer residents peace of mind, knowing their homes are secure whether they are away or in residence.

Technological Advancements and Economic Growth

Technological advancements in artificial intelligence, machine learning, and the Internet of Things (IoT) are continuously refining the functionalities of smart home devices, making them more sophisticated and user-friendly. These innovations are critical in driving further growth in the connected homes market. Additionally, as Australia’s economy expands, so does the disposable income of its middle and upper-middle classes, enabling more consumers to invest in smart home technology. This financial capability facilitates the adoption of luxury technologies that enhance comfort and convenience, further fueling market expansion.

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Market Trends

Increased Focus on Energy Efficiency and Sustainability

Australia’s commitment to sustainability is significantly influencing the smart home technology sector. For instance, Australia leads the world in residential uptake of solar, with a nationwide average of free-standing households with a PV system at over 20%. The country’s notable adoption of solar energy is driving homeowners towards advanced smart home solutions that seamlessly integrate with solar power systems to optimize energy usage. Such technologies include smart appliances, energy-tracking systems, and smart thermostats, which are increasingly in demand. Australians are turning to these innovative solutions not only to decrease their energy expenditures but also to enhance their overall environmental impact. These technologies empower users to manage their energy consumption more effectively, contributing to a greener, more sustainable future.

Growing Popularity of Voice Assistants and AI

In Australia, voice assistants such as Google Assistant and Amazon Alexa are rapidly gaining popularity as integral components of smart home ecosystems. In terms of AI and voice assistants, a survey in 2017 showed that 14% of male and 11% of female Australian smartphone users used voice assistant features. These tools are becoming essential for the control of smart devices, offering users the convenience of voice-activated operations. The integration of artificial intelligence with these systems enriches the user experience by enabling personalized interactions, predictive automation, and increased operational efficiency. This shift towards more intelligent systems underscores a broader trend in which home automation not only enhances convenience but also anticipates the needs of users, thereby redefining everyday living.

Market Challenges Analysis

High Initial Cost and Complexity of Smart Home Technologies

The adoption of smart home technologies in Australia is hindered by high initial costs and complexity. The expenses associated with purchasing multiple devices and potential future upgrades can pose significant barriers, particularly for consumers on tighter budgets. This initial cost can discourage widespread adoption as potential users may hesitate to invest in these technologies, perceiving them as non-essential luxuries rather than investments in convenience and energy efficiency. Moreover, the complexity of setting up and managing smart home systems adds another layer of difficulty. These systems often require a degree of technical knowledge and familiarity with various apps and interfaces, which can be daunting for less tech-savvy individuals. This complexity not only impacts the user experience but also limits broader market penetration, as consumers may opt for simpler, more traditional alternatives.

Interoperability, Security, and Consumer Awareness Challenges

Smart home technology in Australia faces significant challenges related to interoperability, security, and consumer awareness. Despite advancements, the lack of universal standards and protocols across different brands and devices often results in compatibility issues, restricting the functionality of the smart home ecosystem and leading to consumer frustration. Security and privacy concerns further complicate the landscape. Australian consumers are increasingly wary of how their data is managed and secured. Effective security measures, transparent data practices, and clear user control over their information are essential for building trust and encouraging adoption. Additionally, there is a notable gap in consumer awareness regarding the full capabilities and benefits of smart home technologies. Many Australians are not fully informed about how these systems can enhance their daily lives, which hinders market growth. Addressing these challenges requires focused efforts on education, improved standards for device interoperability, and robust security solutions to ensure the safe and effective adoption of smart home technologies across diverse Australian households.

Market Segmentation Analysis:

By Functionality:

In the Australian connected homes market, the segmentation by functionality reveals a diverse landscape. Energy and Utilities Management is a key segment, reflecting the nation’s focus on sustainability and energy efficiency. Smart Entertainment systems, which integrate seamlessly with other home automation features, are increasingly popular, providing enhanced leisure and personalization. Wellness and Monitoring systems are also significant, driven by an aging population and increased health awareness, which demand sophisticated monitoring solutions. Security and Safety remain a critical segment, as homeowners prioritize safeguarding their properties through advanced security systems including smart locks and surveillance technology. Lastly, Smart Appliances are transforming daily tasks by increasing efficiency and connectivity, thus allowing for more intuitive home management. Each of these functional segments responds to specific consumer needs and preferences, driving the evolution and adoption of connected home solutions across Australia.

By Component:

The Australian connected homes market can also be dissected based on components, where distinct preferences emerge. Light Control Solutions are prevalent, offering users the ability to customize and control lighting via mobile interfaces, enhancing both comfort and energy efficiency. Security Solutions are crucial, with a strong demand for integrated systems that ensure safety and provide peace of mind. Entertainment Solutions, including advanced audio and visual systems, cater to a growing desire for connected entertainment experiences. Home Healthcare Solutions reflect a growing market niche, particularly relevant in an era focusing on health and wellness, providing vital support for elderly care and chronic disease management. Finally, Energy Management Solutions are increasingly sought after, driven by the push towards green living and reduced energy consumption. This component segmentation underscores the multifaceted nature of the connected homes market, emphasizing the tailored approach needed to meet diverse consumer demands in Australia.

Segments:

Based on Functionality

  • Energy and Utilities Management
  • Smart Entertainment
  • Wellness and Monitoring
  • Security and Safety
  • Smart Appliance

Based on Component

  • Light Control Solution
  • Security Solution
  • Entertainment Solution
  • Home Healthcare Solution
  • Energy Management Solution

Based on Platform

  • Smartphones
  • Laptops
  • Home Gateway
  • Other Platforms

Based on Type of Homes

  • Apartment
  • Villa/Bungalow
  • Other Homes

Based on the Geography:

  • Eastern region (New South Wales, Victoria, Queensland)
  • Western region (Western Australia, Northern Territory)
  • South Australia and Australian Capital Territory
  • Tasmania

Regional Analysis

The Eastern region, comprising New South Wales, Victoria, and Queensland, dominates the market with a substantial 55% share. As the most populous and economically prosperous region, it boasts a high concentration of early adopters and tech-savvy consumers eager to integrate the latest smart home technologies into their living spaces. Major cities like Sydney, Melbourne, and Brisbane have witnessed a surge in demand for sophisticated home automation systems, driven by the affluent population and a growing emphasis on sustainable living.

The Western region, encompassing Western Australia and the Northern Territory, accounts for 22% of the Australian connected homes market. The region’s thriving mining and resource industries have contributed to a rising demand for connected devices and smart home solutions among its urban population. However, market penetration remains relatively lower in the vast rural and remote areas of the region, presenting an opportunity for future growth as connectivity improves.

Key Player Analysis

  • ABB Limited
  • Philips Dynalite
  • Sonos
  • com
  • Allegion plc
  • Electrolux AB
  • Amazon
  • Apple Inc.
  • Honeywell International Inc.

Competitive Analysis

The competitive landscape of the Australia connected homes market is dynamic, featuring a mix of global giants and specialized local firms. ABB Limited stands out with its robust portfolio of automation and energy management solutions, catering to energy efficiency needs. Philips Dynalite leads in the lighting control sector, offering tailored solutions that enhance both the aesthetic and functional aspects of home environments. Sonos dominates in the smart entertainment segment with its premium wireless sound systems that integrate seamlessly with other home automation systems. Meanwhile, tech behemoths like Apple and Amazon are pivotal, driving innovation through their ecosystems involving HomeKit and Alexa, respectively. These platforms enable extensive device compatibility and voice control, making them user favorites. Each player’s strategic focus on innovation, customer experience, and integration capabilities keeps them at the forefront of the industry, continually pushing the boundaries of what connected home solutions can offer.

Recent Developments

  • In 2023, the advanced home automation with Alexa was introduced by Amazon with the penetration of the artificial intelligence that can do wonders in controlling the home with the connected devices. The new feature accelerates the control devices with echo hubs and map view that eventually to leverage the living experience to the extent.
  • In 2023, Ecobee is ready to set the trend in the connected home by launching the Ecobee Smart Doorbell Camera Review. This company is stepping towards the expansion fot he company’s product portfolio by launching ecosystem products in favor to the user with the latest technological developments. Ecobee is planning to deliver advanced wireless technological thermostats that operates with the sensors connected with the internet technology.

Market Concentration & Characteristics

The Australia connected homes market exhibits a moderate level of market concentration, with a few key players holding significant shares. These leading companies, such as ABB Limited, Philips Dynalite, Sonos, Apple, and Amazon, shape the market through extensive product portfolios, technological advancements, and strong brand reputations. The market is characterized by a high degree of innovation, with companies continuously upgrading and expanding their product offerings to include smarter and more integrated solutions. This is particularly evident in sectors such as energy management, security solutions, and smart entertainment, where customization and user-centric design are highly prioritized. The entry barriers are relatively high due to the need for substantial capital investment in research and development and marketing. Moreover, the strategic partnerships between technology providers and home builders are increasingly becoming a defining characteristic of this market, enhancing the seamless integration of smart home technologies in new housing developments.

Report Coverage

The research report offers an in-depth analysis based on Functionality, Component, Platform, Type of Homes and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

  1. Integration of IoT and AI technologies will enhance the functionality and user experience of connected home devices.
  2. Increased adoption of energy management systems will be driven by rising energy costs and environmental concerns.
  3. Expansion into rural and remote areas will grow, supported by improvements in network infrastructure.
  4. Voice assistant technology will become more pervasive and sophisticated, facilitating greater control and automation.
  5. Privacy and security enhancements will be crucial in gaining consumer trust and promoting wider adoption.
  6. Partnerships between technology companies and real estate developers will intensify, embedding smart home technology in new constructions.
  7. Consumer education efforts will increase to raise awareness about the benefits of connected home technologies.
  8. Demand for health and wellness monitoring systems will rise, fueled by an aging population and increased health consciousness.
  9. Cloud-based solutions will dominate, offering scalability, flexibility, and remote management capabilities.
  10. Market competition will intensify as more companies enter the space and existing players expand their product ranges.

Table of Content
CHAPTER NO. 1 : INTRODUCTION 14
1.1. Report Description 14
Purpose of the Report 14
USP & Key Offerings 14
1.2. Key Benefits for Stakeholders 14
1.3. Target Audience 15
1.4. Report Scope 15
CHAPTER NO. 2 : EXECUTIVE SUMMARY 16
2.1. Australia Connected Homes Market Snapshot 16
2.2. Australia Connected Homes Market, 2018 – 2032 (USD Million) 17
CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 18
3.1. Russia-Ukraine and Israel-Palestine War Impacts 18
CHAPTER NO. 4 : AUSTRALIA CONNECTED HOMES MARKET – INDUSTRY ANALYSIS 19
4.1. Introduction 19
4.2. Market Drivers 20
4.3. Driving Factor 1 Analysis 20
4.4. Driving Factor 2 Analysis 21
4.5. Market Restraints 22
4.6. Restraining Factor Analysis 22
4.7. Market Opportunities 23
4.8. Market Opportunity Analysis 23
4.9. Porter’s Five Forces Analysis 24
CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 25
5.1. Company Market Share Analysis – 2023 25
5.1.1. Australia Connected Homes Market: Company Market Share, by Volume, 2023 25
5.1.2. Australia Connected Homes Market: Company Market Share, by Revenue, 2023 26
5.1.3. Australia Connected Homes Market: Top 6 Company Market Share, by Revenue, 2023 26
5.1.4. Australia Connected Homes Market: Top 3 Company Market Share, by Revenue, 2023 27
5.2. Australia Connected Homes Market Company Revenue Market Share, 2023 28
5.3. Company Assessment Metrics, 2023 29
5.3.1. Stars 29
5.3.2. Emerging Leaders 29
5.3.3. Pervasive Players 29
5.3.4. Participants 29
5.4. Start-ups /SMEs Assessment Metrics, 2023 29
5.4.1. Progressive Companies 29
5.4.2. Responsive Companies 29
5.4.3. Dynamic Companies 29
5.4.4. Starting Blocks 29
5.5. Strategic Developments 30
5.5.1. Acquisitions & Mergers 30
New Product Launch 30
Australia Expansion 30
5.6. Key Players Product Matrix 31
CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 32
6.1. PESTEL 32
6.1.1. Political Factors 32
6.1.2. Economic Factors 32
6.1.3. Social Factors 32
6.1.4. Technological Factors 32
6.1.5. Environmental Factors 32
6.1.6. Legal Factors 32
6.2. Adjacent Market Analysis 32
CHAPTER NO. 7 : AUSTRALIA CONNECTED HOMES MARKET – BY FUNCTIONALITY SEGMENT ANALYSIS 33
7.1. Australia Connected Homes Market Overview, by Functionality Segment 33
7.1.1. Australia Connected Homes Market Revenue Share, By Functionality, 2023 & 2032 34
7.1.2. Australia Connected Homes Market Attractiveness Analysis, By Functionality 35
7.1.3. Incremental Revenue Growth Opportunity, by Functionality, 2024 – 2032 35
7.1.4. Australia Connected Homes Market Revenue, By Functionality, 2018, 2023, 2027 & 2032 36
7.2. Energy and Utilities Management 37
7.3. Smart Entertainment 38
7.4. Wellness and Monitoring 39
7.5. Security and Safety 40
7.6. Smart Appliance 41
CHAPTER NO. 8 : AUSTRALIA CONNECTED HOMES MARKET – BY COMPONENT SEGMENT ANALYSIS 42
8.1. Australia Connected Homes Market Overview, by Component Segment 42
8.1.1. Australia Connected Homes Market Revenue Share, By Component, 2023 & 2032 43
8.1.2. Australia Connected Homes Market Attractiveness Analysis, By Component 44
8.1.3. Incremental Revenue Growth Opportunity, by Component, 2024 – 2032 44
8.1.4. Australia Connected Homes Market Revenue, By Component, 2018, 2023, 2027 & 2032 45
8.2. Light Control Solution 46
8.3. Security Solution 47
8.4. Entertainment Solution 48
8.5. Homehealthcare Solution 49
8.6. Energy Management Solution 50
CHAPTER NO. 9 : AUSTRALIA CONNECTED HOMES MARKET – BY PLATFORM SEGMENT ANALYSIS 51
9.1. Australia Connected Homes Market Overview, by Platform Segment 51
9.1.1. Australia Connected Homes Market Revenue Share, By Platform, 2023 & 2032 52
9.1.2. Australia Connected Homes Market Attractiveness Analysis, By Platform 53
9.1.3. Incremental Revenue Growth Opportunity, by Platform, 2024 – 2032 53
9.1.4. Australia Connected Homes Market Revenue, By Platform, 2018, 2023, 2027 & 2032 54
9.2. Smartphones 55
9.3. Laptops 56
9.4. Home Gateway 57
9.5. Other Platforms 58
CHAPTER NO. 10 : AUSTRALIA CONNECTED HOMES MARKET – BY TYPE OF HOMES SEGMENT ANALYSIS 59
10.1. Australia Connected Homes Market Overview, by Type of Homes Segment 59
10.1.1. Australia Connected Homes Market Revenue Share, By Type of Homes, 2023 & 2032 60
10.1.2. Australia Connected Homes Market Attractiveness Analysis, By Type of Homes 61
10.1.3. Incremental Revenue Growth Opportunity, by Type of Homes, 2024 – 2032 61
10.1.4. Australia Connected Homes Market Revenue, By Type of Homes, 2018, 2023, 2027 & 2032 62
10.2. Apartment 63
10.3. Villa/Bungalow 64
10.4. Other Homes 65
CHAPTER NO. 11 : COMPANY PROFILES 66
11.1. ABB Limited 66
11.1.1. Company Overview 66
11.1.2. Product Portfolio 66
11.1.3. Swot Analysis 66
11.1.4. Business Strategy 67
11.1.5. Financial Overview 67
11.2. Philips Dynalite 68
11.3. Sonos 68
11.4. Alarm.com 68
11.5. Allegion plc 68
11.6. Electrolux AB 68
11.7. Amazon 68
11.8. Apple Inc. 68
11.9. Honeywell International Inc. 68
CHAPTER NO. 12 : RESEARCH METHODOLOGY 69
12.1. Research Methodology 69
12.2. Phase I – Secondary Research 70
12.3. Phase II – Data Modeling 70
Company Share Analysis Model 71
Revenue Based Modeling 71
12.4. Phase III – Primary Research 72
12.5. Research Limitations 73
Assumptions 73

List of Figures
FIG NO. 1. Australia Connected Homes Market Revenue, 2018 – 2032 (USD Million) 18
FIG NO. 2. Porter’s Five Forces Analysis for Australia Connected Homes Market 25
FIG NO. 3. Company Share Analysis, 2023 26
FIG NO. 4. Company Share Analysis, 2023 27
FIG NO. 5. Company Share Analysis, 2023 27
FIG NO. 6. Company Share Analysis, 2023 28
FIG NO. 7. Australia Connected Homes Market – Company Revenue Market Share, 2023 29
FIG NO. 8. Australia Connected Homes Market Revenue Share, By Functionality, 2023 & 2032 35
FIG NO. 9. Market Attractiveness Analysis, By Functionality 36
FIG NO. 10. Incremental Revenue Growth Opportunity by Functionality, 2024 – 2032 36
FIG NO. 11. Australia Connected Homes Market Revenue, By Functionality, 2018, 2023, 2027 & 2032 37
FIG NO. 12. Australia Connected Homes Market for Energy and Utilities Management, Revenue (USD Million) 2018 – 2032 38
FIG NO. 13. Australia Connected Homes Market for Smart Entertainment, Revenue (USD Million) 2018 – 2032 39
FIG NO. 14. Australia Connected Homes Market for Wellness and Monitoring, Revenue (USD Million) 2018 – 2032 40
FIG NO. 15. Australia Connected Homes Market for Security and Safety, Revenue (USD Million) 2018 – 2032 41
FIG NO. 16. Australia Connected Homes Market for Smart Appliance, Revenue (USD Million) 2018 – 2032 42
FIG NO. 17. Australia Connected Homes Market Revenue Share, By Component, 2023 & 2032 44
FIG NO. 18. Market Attractiveness Analysis, By Component 45
FIG NO. 19. Incremental Revenue Growth Opportunity by Component, 2024 – 2032 45
FIG NO. 20. Australia Connected Homes Market Revenue, By Component, 2018, 2023, 2027 & 2032 46
FIG NO. 21. Australia Connected Homes Market for Light Control Solution, Revenue (USD Million) 2018 – 2032 47
FIG NO. 22. Australia Connected Homes Market for Security Solution, Revenue (USD Million) 2018 – 2032 48
FIG NO. 23. Australia Connected Homes Market for Entertainment Solution, Revenue (USD Million) 2018 – 2032 49
FIG NO. 24. Australia Connected Homes Market for Homehealthcare Solution, Revenue (USD Million) 2018 – 2032 50
FIG NO. 25. Australia Connected Homes Market for Energy Management Solution, Revenue (USD Million) 2018 – 2032 51
FIG NO. 26. Australia Connected Homes Market Revenue Share, By Platform, 2023 & 2032 53
FIG NO. 27. Market Attractiveness Analysis, By Platform 54
FIG NO. 28. Incremental Revenue Growth Opportunity by Platform, 2024 – 2032 54
FIG NO. 29. Australia Connected Homes Market Revenue, By Platform, 2018, 2023, 2027 & 2032 55
FIG NO. 30. Australia Connected Homes Market for Smartphones, Revenue (USD Million) 2018 – 2032 56
FIG NO. 31. Australia Connected Homes Market for Laptops, Revenue (USD Million) 2018 – 2032 57
FIG NO. 32. Australia Connected Homes Market for Home Gateway, Revenue (USD Million) 2018 – 2032 58
FIG NO. 33. Australia Connected Homes Market for Other Platforms, Revenue (USD Million) 2018 – 2032 59
FIG NO. 34. Australia Connected Homes Market Revenue Share, By Type of Homes, 2023 & 2032 61
FIG NO. 35. Market Attractiveness Analysis, By Type of Homes 62
FIG NO. 36. Incremental Revenue Growth Opportunity by Type of Homes, 2024 – 2032 62
FIG NO. 37. Australia Connected Homes Market Revenue, By Type of Homes, 2018, 2023, 2027 & 2032 63
FIG NO. 38. Australia Connected Homes Market for Apartment, Revenue (USD Million) 2018 – 2032 64
FIG NO. 39. Australia Connected Homes Market for Villa/Bungalow, Revenue (USD Million) 2018 – 2032 65
FIG NO. 40. Australia Connected Homes Market for Other Homes, Revenue (USD Million) 2018 – 2032 66
FIG NO. 41. Research Methodology – Detailed View 70
FIG NO. 42. Research Methodology 71

List of Tables
TABLE NO. 1. : Australia Connected Homes Market: Snapshot 17
TABLE NO. 2. : Drivers for the Australia Connected Homes Market: Impact Analysis 21
TABLE NO. 3. : Restraints for the Australia Connected Homes Market: Impact Analysis 23

Frequently Asked Questions:

What is the current size of the Australia Connected Homes Market?

As of 2023, the Australia Connected Homes Market is valued at approximately USD 1,092.35 million.

What factors are driving the growth of the Australia Connected Homes Market?

The market is driven by increasing consumer interest in home automation for enhanced security, energy efficiency, and convenience, supported by high internet penetration and widespread adoption of IoT and smart devices.

What are the key segments within the Australia Connected Homes Market?

The key segments within the market include functionality-based segments like Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, and Smart Appliance; and component-based segments like Light Control Solution, Security Solution, Entertainment Solution, Home Healthcare Solution, and Energy Management Solution.

What are some challenges faced by the Australia Connected Homes Market?

Major challenges include high initial costs and complexity of smart home technologies, lack of interoperability between devices, and security and privacy concerns.

Who are the major players in the Australia Connected Homes Market?

Major players include ABB Limited, Philips Dynalite, Sonos, Apple Inc., Amazon, and Honeywell International Inc., among others.

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