Comfort & Lighting - Australia & Oceania

Revenue in the Comfort & Lighting market is projected to reach US$362.8m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.09%, resulting in a projected market volume of US$560.3m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 12.5m users by 2029.
Household penetration will be 39.8% in 2024 and is expected to hit 116.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$89.62.

Definition:

Comfort & Lighting market includes devices for the improvement of the living atmosphere. These are devices such as sensors and actuators (e.g., door and window sensors, shutters) as well as connected and remote controllable light sources (smart bulbs) or garage door controls.
Programmable or controllable power sockets are not included (see Control & Connectivity).

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Philips, Google, Ring Samsung, and other brands renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Digitally connected and controlled devices for living atmosphere improvement
Smart lighting/bulbs
Window/door sensors (e.g., Ring Alarm Pack), shading devices (e.g., Lutron Caséta), garage door controls (e.g., Meross Smart WiFi Garage Door Opener)

Control buttons, gateways/hubs
Smart TVs
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Comfort & Lighting market in Australia & Oceania is experiencing steady growth due to several factors.

Customer preferences: Customers in Australia & Oceania are increasingly seeking comfort and convenience in their homes and workplaces. They are willing to invest in products and solutions that enhance their overall comfort and improve the lighting conditions. Additionally, customers are becoming more aware of the importance of energy efficiency and are looking for products that are environmentally friendly.

Trends in the market: One of the key trends in the Comfort & Lighting market in Australia & Oceania is the growing demand for smart lighting solutions. Smart lighting allows users to control the lighting in their homes or workplaces through mobile apps or voice commands, providing convenience and energy efficiency. This trend is driven by the increasing adoption of smart home technologies and the desire for personalized lighting experiences. Another trend in the market is the focus on energy-efficient lighting solutions. With growing concerns about climate change and rising energy costs, customers are looking for lighting products that consume less energy and have a longer lifespan. LED lighting, in particular, is gaining popularity due to its energy efficiency and durability.

Local special circumstances: Australia & Oceania has a unique geography and climate, which can influence customer preferences in the Comfort & Lighting market. The region experiences long and hot summers, which can result in increased demand for cooling systems and lighting solutions that provide a comfortable and cool environment. Additionally, the region has a high proportion of remote and rural areas, which may have different lighting needs compared to urban areas.

Underlying macroeconomic factors: The growing Comfort & Lighting market in Australia & Oceania can be attributed to several underlying macroeconomic factors. The region has been experiencing economic growth, leading to increased disposable incomes and consumer spending. This, in turn, has fueled the demand for comfort and lighting products. Furthermore, government initiatives and regulations promoting energy efficiency have also played a role in the growth of the market. Governments in Australia & Oceania have implemented policies to encourage the use of energy-efficient lighting solutions and provide incentives for their adoption. These initiatives have created a favorable environment for the Comfort & Lighting market to thrive. In conclusion, the Comfort & Lighting market in Australia & Oceania is driven by customer preferences for comfort and convenience, as well as the increasing demand for energy-efficient solutions. The market is witnessing trends such as the adoption of smart lighting and the focus on energy efficiency. The unique geography and climate of the region, along with underlying macroeconomic factors, contribute to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.