Are Smart and Connected Devices Set to Revolutionise Consumers' Lives?

The relentless advance of technology has shaped and re-shaped our lives and we are standing on the cusp of a new wave – the explosion of smart and connected devices. Many experts are heralding these devices as a catalyst for revolutionising consumer behaviour over the coming decade.

 

This change is not only a matter for experts and futurists. Smart and connected TVs and speakers have already revolutionised living rooms of over 50% of Australian homes Additionally, wearables are ‘out and about’ with over 3 million Australians – along with their smart phones. There is also a wave of devices beginning to vie for the attention and wallets of consumers: smart dishwashers, smart washing machines, digital home assistants, smart cars and smart forks – yes, you read that right, smart forks. The core infrastructure to support this future is being rolled out and Telstra for one believes that consumers are ready for their lives to be transformed by the connected world that its 5G network will support.

 

There is strong potential for this smart and connected future to transform consumer behaviour in fundamental ways. We have seen the advent of the smart phone revolutionise everything from how we find a date to how we solve bar room disagreements on who was the runner up in the 2018 Brownlow Medal. We have also seen at home leisure time transformed by the advent of the smart TV with frustration over the amount of advertising replaced by the frustration of not being able to find something to watch on Netflix.

 

But, are Australian consumers and homeowners ready to embrace the full future of smart and connected devices? Our research shows there are two elements to the answer. Certainly, there are barriers to adoption, including concerns over privacy, lack of seamlessness and of course, cost. However, our research also shows that there is strong interest in a wide range of smart and connected products – even those that are only emerging now. And, consumers generally expect that these devices will have an impact on their lives in the future.

 

What we can take from this is that the smart and connected future has the potential to have a transformative impact on the way Australians live their lives. This transformation will have an impact across media consumption, connectivity, how we shop, how we manage our households, and of course how we connect with others. There is virtually no business or brand that will not be impacted in some way.

 

In our GfK Insights Session, you will find out just how ready Australian consumers are for the smart and connected device future and what that future is likely to mean for your business and brand.