IoT market set to explode as we make our homes smarter and more secure
Making our homes smarter and more secure is the goal of more Australians than ever before with more than 190 million connected devices already in our homes. And that number is set to rise by a staggering 92 per cent by 2024.
Arlo, the leading wireless security camera company, teamed up with Telsyte to produce the IoT@Home Market Study 2020 which found that the number of connected devices will explode from 190 million to 370 million connected devices within the next three years – that’s an increase of 92 per cent.
And with the increase of connected devices, this will also result in the IoT (Internet of Things) market growing significantly in value.
In fact the market size is expected to almost triple by 2024 to be worth $4.8bn.
On average customers budgeted to spend $2,400 to make their homes smarter in 2020.
The pandemic gave users the time to realise how much their lifestyles could be improved with a smarter home.
One particular area of interest for Australian customers is security.
In 2020, 28 per cent purchased a smart security product like a smart camera or a video doorbell.
According to the study, Australian households are forecast to have more than seven million smart video cameras in their homes by 2024.
The top places where customers position their cameras are the main entrance, the garden, garage, other entrances and on their balconies.
In the case of the Arlo security cameras and doorbells, they will also work with other platforms like Amazon Alexa, Google Assistant, Apple HomeKit, Samsung Smart Things and IFTTT so users can take even more control and even control and monitor them with their voice.
It’s possible, for example, to view the live feed from an Arlo camera from a smart device with a display like the Echo Show or Google Nest Hub.
Arlo recently released the Arlo Essential Wire-Free Spotlight camera at $229 for customers want to get started with an affordable device.
For those looking for a higher quality solution with better video quality and a wider field of view, Arlo has also just launched the Ultra 2 Wire-Free Spotlight 4K cameras that come in two and three packs.