The Internet of Things is getting even more pervasive, with the Australian IoT@Home Market Study 2021 report analysis firm Telsyte finding 6.3 million Australian Households now have at least one IoT device installed in their homes. 

More than a million additional Australian homes have added an IoT device since 2020, ranging from smart speakers and smart lighting to smart security cameras and more. The Telslyte report found that Interest in smart security products remained high for uses now looking towards keeping an eye on pets, children, as well as deliveries.

Increased time at home due to the pandemic, as well as increased awareness of available products and serviceshas been the source of growth says Telsyte, who listed sales of IoT@Home products reaching $1.7Bn in 2021, an increase of 15%. Telsyte says that this will further grow with the industry forecast to grow to $4.4Bn by 2025.

It’s apparently smart speakers that are our gateway to more IoT devices in Australia – and who can be blamed with bargain priced Nest Home Mini and Echo Dot speakers readily available. Telsyte found that 2.9 million homes (29%) had a smart speaker, with Google and Amazon speakers making up 80% of the market share, with Apple also with their foot in the door selling 125,000 HomePod mini speakers in 2021.

Improved security on IoT has improved customer perception, with concerns over implementation and standards now more of a concern. The IoT industry, backed by the heavyweights including Amazon, Google, Apple and more, looking to address these concerns with the launch of the Matter protocol.

Put simply, Matter is about making IoT devices simpler to setup and able to communicate with each other. Once Matter is fully released and implemented you’ll be able to use a Matter enabled Android device to setup Amazon and Apple smart devices and vice-versa.

There are still some challenges ahead, and while prices on connected devices ranging from lightbulbs to high-end appliances are coming down, ongoing challenges including the global chip shortage may continue to see increases, or demand outstripping supply.