|
Forecast Period
|
2023-2028
|
|
Market Size (2022)
|
USD 12.25 Billion
|
|
CAGR (2023-2028)
|
13.27%
|
|
Market Size (2028)
|
USD 26.29 Billion
|
|
Fastest Growing Segment
|
Service
|
|
Largest Market
|
Australian Capital
Territory & New South Wales
|
The Australia Internet of Things Market is being driven by rising demand for smart devices, expanding government initiatives, and increased demand for analytics. Furthermore, the increasing penetration of IoT in various applications such as consumer electronics, building and home automation, connected logistics, etc. is driving its demand in the country. Furthermore, an increase in cloud platform adoption, the introduction of advanced data analytics, and the advancement of wireless networking technologies are expected to propel the Australia Internet of Things (IoT) market during the forecast period.
The Internet of Things, or IoT, refers to billions of mobile devices worldwide that are connected to the Internet and collect and share data. The complexity of these devices ranges from simple household items to sophisticated industrial equipment. The Internet of Things (IoT) is a vast network of objects in which everyone collects and shares data on how they interact with the world around them. By connecting all these different devices and adding sensors to them, devices gain digital intelligence that allows them to transmit real-time data without the need for human intervention. Integration of various machines, devices, and electronic devices linked to the Internet via various networks are propelling the demand for IoT services across the country.
The top service providers are offering enhanced services with technological advancements attributed to the Internet of Things (IoT) solutions for running and managing the applications on the system. The companies working in the market are focusing on in-house services, higher security data storage, and sources enlargement to increase their market shares. Technologically advanced organizations are matching workloads to the best working-environment based on a range of criteria: cost, performance, compliance, skill sets, industry-specific needs, etc. Other competitive strategies include mergers & acquisitions and developing new innovative services.
Growing Acceptance of Industry 4.0 is Fueling the Market Growth
Owing to the evolution of digital technology, the manufacturing industry is witnessing a change. Use of internet of things in manufacturing industries helps to minimize operational cost, improves productivity, enhances worker safety, etc. which is anticipated to propel the demand of Internet of Things market across Australia.
Rising Adoption of Wearable Technology Applications is Driving the Market Growth
Wearable technology involves the use of sensor-based devices which provide the capability to collect various types of data. The data includes information regarding location, temperature, etc., as well as the latest type of biometric information such as pulse rate, footsteps, etc. The increasing use of wearable technology is a key factor anticipated to aid the demand of Internet of Things services across Australia.
Rising Demand from Healthcare Sector is Driving the Market Growth
IoT based technologies have proved to be one of the most important applications for the healthcare sector. Devices such as sensors, medical equipment, health monitors, and other medical devices are set to become a part of IoT, owing to which IoT adoption in the healthcare sector is expected to grow at a robust pace in the forecast period. Additionally, virtual assistants and mobile health applications have proved to be very helpful to monitor patient health at home, which is expected to boost the demand of Internet of Things market across the country.
Growing Need for Intelligent Transportation Systems is Driving the Market Growth
Intelligent transportation systems are a hybrid application of IoT technologies for various modes of transportation such as roads, railways, etc., for ensuring smooth and safe travel. Increasing vehicle fleet size across the country is leading to growing traffic congestion on roads and rising number of accidents. Therefore, deployment of Internet of Things is expected to make transportation much safer, smoother, and lawful, which is anticipated to propel the market.
Growing Adoption of Bring Your Own Device (BYOD) is Steering the Market Growth
The concept of Bring your Own Device (BYOD) is gaining popularity across the country, as it provides flexibility and mobility to both the employee as well as the employer. By avoiding the constraints related to workstations. BYOD includes devices such as tablets, phablets, smartphones, laptops, etc. Rising adoption of advanced technology, coupled with increasing purchasing power are driving the market for BYOD. Devices under BYOD concept use different types of sensors such as image sensors, touch sensors, motion sensors, etc., which generate a large amount of useful data. To handle and analyze such a large volume of data, the need for internet of things services for analytics, security, etc., is projected to increase during the forecast year.
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Market Segmentation
Based on Platform, the market is segmented into network management, application management, and device management. Based on component, the market is divided into software, hardware, and service. Based on software, the market is further fragmented into real time streaming analytics security, data management, remote monitoring, network bandwidth management, and others. Based on hardware, the market if further segmented into device and gateways. Based on service, the market is further divided into professional and managed. Based on application, the market is fragmented into consumer electronics, smart mobility & transportation, building & home automation, connected logistics, smart retail, and others.
Company Profiles
Intel Australia Pty Ltd., GE Australia Pty Ltd., IBM Australia Limited, Amazon Web Services Australia Pty Ltd., Robert Bosch Australia Pty Ltd, Cisco Systems Australia Pty Ltd, SAP Australia Pty Ltd, Microsoft Pty Limited, Oracle Corporation Australia Pty Limited, Google Australia Pty Limited, etc. are among the major market players in the country platform that lead the market growth of the Australia Internet of Things market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historical
Years
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024 – 2028
|
|
Quantitative
Units
|
Revenue
in USD Billion and CAGR for 2018-2022 and 2023E-2028F
|
|
Report
Coverage
|
Revenue forecast,
company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
By Platform
By Component
By Application
By Region
|
|
Regional
Scope
|
Australia Capital
Territory & New South Wales, Victoria & Tasmania, Queensland, Northern
Territory & Southern Australia, Western Australia
|
|
Key
Companies Profiled
|
Intel
Australia Pty Ltd., GE Australia Pty Ltd., IBM Australia Limited, Amazon Web
Services Australia Pty Ltd., Robert Bosch Australia Pty Ltd, Cisco Systems
Australia Pty Ltd, SAP Australia Pty Ltd, Microsoft Pty Limited, Oracle
Corporation Australia Pty Limited, Google Australia Pty Limited
|
|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail
of customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/pdf format on special request)
|
Report Scope:
In this report, the Australia Internet
of Things market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- Australia
Internet of Things Market, By Platform
o Network
Management
o Application
Management
o Device
Management
- Australia
Internet of Things Market, By Component
o Software
o Hardware
o Service
- Australia
Internet of Things Market, By Application
o Consumer
Electronics
o Smart
Mobility & Transportation
o Building
& Home Automation
o Connected
Logistics
o Smart
Retail
o Others
- Australia
Internet of Things Market, By Region:
o Australia Capital Territory
& New South Wales
o Victoria & Tasmania
o Queensland
o Northern Territory &
Southern Australia
o Western Australia
Competitive Landscape
Company Profiles: Detailed analysis of
the major companies present in the Australia Internet of Things market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
Detailed analysis and profiling of
additional market players (up to five).
Australia Internet of Things (IoT) Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]