Average Australian home will have 37 connected devices by 2023

The Australian Internet of Things at home (IoT@Home) market grew 57% during the past 12 months to $1.1 billion in 2018 and is forecast to reach $5.3 billion by 2023, according to new research

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The research — Telsyte Australian IoT@Home Market Study 2019 — found more than five million Australian households — or more than 50% of total households — had started the smart home journey with at least one IoT@Home product installed by the end of 2018.

The increase of more than 30% — from around four million households in 2017 — was primarily due to surging adoption of smart speakers.

 

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Among the five million IoT@Home adopters, Telsyte research found that about a quarter were considered “invested” in smart home technology, with at least five different IoT@Home products already installed – e.g. cameras, smart plugs, smart lighting and smart appliances.

And at the end of 2018, the average Australian household had 17 connected devices, primarily made up of smartphones, computers, tablets and other gadgets.This figure is set to grow even further, with Telsyte predicting the average household in 2023 would have 37 devices, around half being IoT@Home devices.

Telsyte said these “invested” IoT@Home adopters were more likely to be younger families and tech enthusiasts who have a range of consumer devices, such as drones, VR headsets, and location tracking tags.

The research also shows rising energy costs have been driving adoption of smart energy solutions and government’s investment in renewable energy and subsidies for smart batteries are expected to boost the IoT@Home smart energy segment in the medium term.

And, the smart energy segment is now worth more than one-third of the total IoT@Home market by revenue.

Telsyte says that smart connected appliances (e.g. whitegoods) are expected to be the longer term IoT@Home market revenue driver beyond 2020, making up about 40% of the industry’s annual revenue by 2023.

And, Australia’s IoT@Home market continued to benefit from surging smart speaker adoption and Telsyte forecast the smart speaker category would continue to be the most successful IoT@Home product throughout 2019 with 2.5 million (26%) Australian households using smart speakers by end of the year, up from 1.6 million (16%) in 2018.

According to the research, there is also a growing number of people interested in smart speaker applications – with some one in four IoT@Home adopters and potential adopters interested in controlling IoT@Home and other connected devices, such as controlling lights and unlocking doors using smart speakers.

Australia has continued to defy international smart speaker trends, with Google Assistant dominating the market despite competition from Amazon Alexa and Apple’s Siri.

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