Analyst company Telsyte revealed a further 1 million Australian households adopted smart home products in 2021 as Covid-19 (coronavirus) lockdowns and growing awareness of the options available spurred sales.
Telsyte reported product sales increased 15 per cent year-on-year in 2021 to AUD1.7 billion ($1.2 billion), led by smart security lighting (up 50 per cent) and smart speakers (28 per cent).
The number of households with at least one smart home product hit 6.3 million by end-2021, nearly two-thirds of Australia’s total.
Telsyte predicted revenue from smart home devices to hit AUD4.4 billion by 2025, citing declining prices for high-end connected appliances including fridges among various drivers. But it cautioned inflation and an ongoing chip shortage could affect pricing.
The research company branded smart speakers a “gateway product” for the broader IoT sector, noting 2.9 million households owned at least one device by end-2021.
Amazon and Google held a combined 80 per cent share of the installed smart speaker base at end-2021, Telsyste reported, though it noted Apple was making rapid gains with its HomePod mini “following slow sales of its original, more expensive” model.