A new study has found that the Internet of Things (IoT) in the home market is set to boom in Australia, as a whole host of startups look to capitalise on this growing trend in consumer goods.
The study by tech analyst firm Telsyte finds the Australian IoT home market is set to grow by almost 11 times to $3.2 billion by 2019. It also says that by then the average household will have 24 internet-connected devices, up from nine this year.
Telsyte senior analyst Steven Noble says much of this growth will be naturally as products evolve and incorporate the internet.
“While long mooted, the internet-enabled ‘whitegood’ will finally become the norm, as most manufacturers – aided by the lower cost of micro-processing – build wireless internet connectivity into most of their products,” Noble says.
There is much room for startups to take advantage of in this market, Noble says.