Australian IoT@Home market jumps 55% in 2017

Tuesday 15 May 2018 | 07:09 CET | News
The Australian Internet of Things at home (IoT@Home) market grew 55 percent in 2017, to AUD 583 million, according to a report from Telsyte. The study also found rapid uptake in smart speakers, as well as increasing internet connectivity of appliances such as air conditioners and security cameras, is creating the foundation for an Internet-connected device explosion expected to accelerate beyond 2020.

According to the research, the average Australian household has 17.1 connected devices in 2018, up from 13.7 in 2017. This figure is expected to grow to 37 by 2022 or 381 million internet-connected devices nationally. Most of this growth is expected to come from IoT@Home devices and associated services, which Telsyte categorises into smart energy, smart security, smart lifestyle and smart hubs.

The smart lifestyle sector, which consists of whitegoods, appliances and house and garden products, is expected to be the largest sector by 2022, as manufacturers bring to market products that have internet connectivity as a standard feature. This contrasts with today’s market where smart appliances can command a significant premium.

However, despite the potential growth of the IoT@Home market, challenges such as privacy and cyber security concerns are impacting consumer appetite, thereport also shows. Around 41 percent of Australians are “more concerned about cybersecurity than last year” and 61 percent are concerned about their private information being exposed online, up 5 percent from the previous year.

Report authors also estimate that around half a million Australian households currently own a smart speaker, up from less than 10,000 in 2016. Nearly 3 million Australian households are expected to have a smart speaker by 2022.

The smart speaker category was the fastest growing IoT@Home product in 2017, with Google Home and Google Home mini being the market leaders driven by holiday season sales, free giveaways with Pixel 2 smartphones, and multipack offers. Apple and Amazon are expected to catch up as their products became more widely available in 2018.

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Categories: Internet / IT
Companies: Amazon / Apple / Google
Countries: Australia
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Austria  |  2017 Q4