Rising Adoption of Smart Devices to Drive Australia IoT Market at over 20% until 2024
Growing adoption of cloud
computing and smart devices, rising inclination towards artificial intelligence
and supporting government initiatives to drive Australia Internet of Things
market through 2024
According to TechSci Research report, “Australia
Internet of Things (IoT) Market By Platform, By Component, By Application,
Competition, Forecast & Opportunities, 2024”, Australia internet of things (IoT) market is projected to
grow at the double-digit CAGR of over 21% during 2019-2024 on account of
technological advancements and increasing use of the technology in various applications
like consumer electronics, building & home automation, connected logistics,
etc. Moreover, development in big data, cloud computing, data centers and data
analytics is expected to positively influence the market. Intel Australia Pty Ltd., GE
Australia Pty Ltd., IBM Australia Limited, Amazon Web Services Australia Pty
Ltd., etc., are among
the leading players operating in Australia internet of things (IoT) market.
Companies operating in the market are using organic strategies such as product
launches, and mergers and collaborations in order to register positive growth
in the market.
Browse
1 market data Tables and 30 Figures spread through 70 Pages and an in-depth TOC on "Australia
Internet of Things (IoT) Market "
https://www.techsciresearch.com/report/australia-internet-of-things-iot-market/1393.html
Australia IoT market can be segmented based on component, platform,
application and region. In terms of platform, the market can be segmented into
device management, application management and network management. Network management
acquired the largest share in the market. However, device management segment is
expected to grow at the highest CAGR during forecast period owing to increasing
demand for managing connected devices and improving the operational efficiency.
Among components, services segment is expected to grow at the fastest pace
during forecast period in Australia IoT market as more and more companies are
adopting IoT solutions and leveraging the benefits of IoT services.
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"Among applications, smart mobility and transportation segment is
forecast to grow at impressive rate through 2024 on the back of rising need to
improve mobility and solve the problem of traffic congestion in smart cities of
Australia. Moreover, increasing demand for handling challenges such as traffic
flow management, energy management, etc., along with increasing investment by
the Australian government on smart cities and suburbs program is further
promoting the growth of IoT in smart mobility and transportation segment.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Australia Internet of Things (IoT) Market By
Platform, By Component, By Application, Competition, Forecast &
Opportunities, 2024” has
evaluated the future growth potential of Australia IoT market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Australia IoT market.
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