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.
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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.
"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.
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“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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