Australia Smart Home Market Set to Reach $6.56 Billion by
March 05, 2024 04:08 ET | Source: Research and Markets Research and Markets
Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "Australia Smart Home Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Australia smart home market is forecast to achieve a remarkable valuation, estimated to reach approximately US$ 6.56 billion by 2030, according to a newly released industry analysis study. A steep growth trajectory is anticipated, with a Compound Annual Growth Rate (CAGR) of 15.73% expected during the period from 2024 to 2030.
With rising concerns for safety and energy efficiency, the application for security systems and smart technology integrations continues to surge, driving the smart home market growth in Australia. The market analysis offers a comprehensive breakdown, highlighting six major viewpoints across various applications including energy management, comfort and lighting, home entertainment, control and connectivity, security, and smart appliances.
Smart speakers emerge as one of the most sought-after products within the market. As pivotal hubs for managing a wide array of smart home functionalities, their hands-free operation and compatibility with leading AI technologies facilitate their robust market performance.
Market Diversity and Key Players
The market is diversifying, encompassing an array of products that cater to the growing demand for interactive security systems, monitoring cameras, video doorbells, smart thermostats, and various types of sensors. These comprehensive offerings are designed to meet the evolving security and convenience demands of modern Australian homes.
The study also presents an insightful company analysis that showcases recent developments and revenue analyses of key players in the smart home market. These encompass innovative global and local companies which are shaping the smart home landscape through partnerships, technological advancements, and customer-focused product enhancements.
Companies Mentioned
Key Attributes
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