Control & Connectivity - Australia & Oceania

Revenue in the Control & Connectivity market is projected to reach US$959.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.42%, resulting in a projected market volume of US$1.5bn by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 10.4m users by 2029.
Household penetration will be 36.6% in 2024 and is expected to hit 97.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$258.10.

Definition:

The Control & Connectivity market includes the essential equipment (connected and remote-control devices) and services that are part of an intelligent home network. The segment includes smart speakers (Amazon Echo, Google Home, etc.), central control and communication units (hub/gateway), programmable control buttons (e.g. wall switches and adjustable dials), and smart plugs for the control of non-smart devices.

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 Amazon and Google, 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.

Gateways/hubs that are capable of controlling devices of all segments (e.g., Smart Home Zigbee 3.0 Gateway Smik)
Smart speakers with a primary focus on control and digital assistants (e.g., Sonoro STREAM, Bose Smart Speaker 500)
Control buttons and smart plugs/sockets (e.g., TP-Link KE100 KIT, Aoycocr Wi-Fi Smart Socket)

Connected home appliances (see Smart Appliances)
Multiroom speaker systems with a primary focus on entertainment (see Home Entertainment)
Smartphones and tablets
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Control & Connectivity market in Australia & Oceania is experiencing significant growth and development.

Customer preferences: Customers in Australia & Oceania have shown a strong preference for advanced control and connectivity solutions in recent years. This is driven by the increasing need for automation and digitization across various industries, including manufacturing, healthcare, transportation, and energy. Customers are looking for solutions that can improve operational efficiency, enhance productivity, and enable real-time monitoring and control of their systems. They are also seeking solutions that are scalable, flexible, and can easily integrate with existing infrastructure.

Trends in the market: One of the key trends in the Control & Connectivity market in Australia & Oceania is the adoption of Internet of Things (IoT) technologies. IoT enables devices and systems to connect and communicate with each other, allowing for seamless data exchange and automation. This trend is driven by the growing availability of affordable and reliable connectivity options, such as 5G networks, which enable faster and more reliable data transmission. As a result, businesses are increasingly implementing IoT solutions to improve their operational efficiency, optimize resource allocation, and enhance customer experience. Another trend in the market is the increasing demand for cloud-based control and connectivity solutions. Cloud computing offers numerous benefits, including scalability, flexibility, and cost-effectiveness. It allows businesses to access and manage their control and connectivity systems remotely, without the need for on-premises infrastructure. This trend is driven by the growing adoption of cloud computing across industries, as businesses recognize the advantages of moving their operations to the cloud.

Local special circumstances: Australia & Oceania is a region with diverse geographical and climatic conditions. This presents unique challenges for control and connectivity solutions, as they need to be able to operate in harsh environments, such as extreme temperatures, high humidity, and remote locations. As a result, there is a growing demand for ruggedized and durable control and connectivity solutions that can withstand these conditions. Additionally, the region's vast coastline and numerous islands create a need for reliable connectivity solutions that can cover large areas and provide seamless connectivity to remote locations.

Underlying macroeconomic factors: The growth and development of the Control & Connectivity market in Australia & Oceania are supported by several macroeconomic factors. These include the region's strong economic growth, increasing investments in infrastructure development, and government initiatives to promote digital transformation. The region's robust economy provides businesses with the financial resources to invest in advanced control and connectivity solutions. The ongoing investments in infrastructure development, such as smart cities and transportation networks, create opportunities for the deployment of control and connectivity systems. Additionally, government initiatives to promote digital transformation, such as the National Broadband Network (NBN) in Australia, provide the necessary infrastructure and support for 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.