Retailers in Australia that are hunting for consumer electronics are currently on the lookout for the next trending technology that will take the country by storm. According to the latest research, connected smoke alarms as well as voice activate speakers are going to be set another record in the smart device market. This is in addition to swipe card entry systems which are currently favored by homeowners.
Strategy Analytics, the firm responsible for the latest research, said that security devices are now moving on to new heights with cameras considered to be obsolete. There are now more modern developments such as smart light bulbs that helps in energy saving, gateways and hubs for smart alarm systems and even smart door locks.
According to the same research, they are expecting the sales of smart home technologies to be higher than smartphones in the next five years. This is because smart home devices are cheaper, the technology developments are faster and the applications and services intended for consumers are quite compelling.
The research firm also revealed that consumer demand for smart home technologies in the previous year resulted to a sales of 663 million units worth $84 billion. The number is higher by 16 per cent in comparison to 2016 when sales were only $72 billion. For 2023, research revealed that the sales could be as high as $155 billion after selling 1.94 billion smart home devices.
Smartphone sales globally, on the other hand, could reach 1.86 billion units by 2023. The sales will still be topped by the USA which is 40 per cent of the entire smartphone market while Asia Pacific Region is expected to follow suit with $26 billion. On the third place is Western Europe which is expected to earn $17 billion in sales.
Strategy Analysts shared that the category with the highest sales is going to be smart speakers with an expected growth rate reaching 109 per cent. With this, 69 million units are expected to be sold to consumers.
Smart home technologies such as swipe card entry systems has become a trend in the past few years that it is not surprising that many brands are trying to release their own products in order to cash in with the billion dollar industry.