Internet of Things is an environment of associated physical items that are available through the web. Basically, the embedded technology in the objects helps them to interact with internal and external environment which in turns gives the output.

Internet of Things (IoT) market consists of objects or things that are connected to the internet which can be accessed from anywhere. It comprises the integration of sensors and devices that are connected to the internet over fixed or wireless networks. It can link millions of devices that can manage the infrastructures, environment, homes, traffic and much more. Demand of IoT is expected to be driven by three major industries i.e. automotive, security applications and utility.

Devices we use every day (such as refrigerators, cars, fans, lights, etc.) and operational technologies such as industrial machinery are becoming connected entities across the globe. This world of interconnected things, where the humans are interacting with the machines and machines are talking with other machines (M2M) is emerging at a rapid pace. Product manufacturers are creating IoT enabled devices such as smart fridge, smart washing machine, smart TV, etc. These products are integrated with processors to collect data and send feedback to the manufacturers about the usage pattern of their products. This enables manufacturers to create better products using the collected data. The smart products can also be used for remotely controlling the appliances and for saving energy by optimizing the usage.

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Australia Smart Cities Plan:

The Internet of Things involves many connected devices via the cloud or personal network. In the IoT context, things (devices/machines) are provided with unique identifiers and the ability to automatically transfer data over a network. The increase in IoT communication comes from computing devices and embedded sensor systems used in industrial machine-to-machine (M2M) communication, smart energy grids, smart home and building automation, vehicle to vehicle communication and wearable computing devices, etc.

Rising global population base is projected to boost the demand for connected devices and thrive the Australia IoT industry. Further, increasing IoT services spending in Australia is anticipated to positively impact growth in the Australia IoT market during 2017-2022. 

According to Communication government of Australia,

·         There are approximately 21 million mobile handset subscribers in Australia.

·         As of September 2015, 54.5% of smartphone users used Android, 36.8% of smartphone users used iOS.

Increasing smartphone penetration, along with growing adoption of IoT enabled devices has fuelled the adoption of mobile applications in IoT industry in Australia.

Smart Home & Consumer Devices

This segment includes home automation industry, home appliances (TV, fridge, printers, set-top boxes, etc.), home energy and management systems, lighting, smart tablets, PCs, and tablets and consumer electronics and smart wearables such as media players, smart glasses, smart watches, gaming, wellbeing devices (health & fitness monitors), etc.

With rise in per capita income and purchasing power of the consumers coupled with increased affordability of technology, number of smart homes and consumer devices is growing more rapidly than the population. The factors are expected to drive the demand for Australia IoT market in this through 2022.

Smart City and Energy

Department of Prime Minister and Cabinet of Australian Government, announced smart city and suburbs program in 2017. The $50 Million program supports the private companies, research organizations, local governments to work collaboratively and deliver innovative smart city projects. The government aims to improve the productivity, sustainability and liveability. Smart city programs in the country includes energy infrastructure - generation, advanced transmission and distribution/storage, government and environmental sensors. Building automation - automation, access control, as well as professional lighting, building lighting, street lighting, etc., also come under this segment. Increasing smart city programs by the government boost the demand of IoT market in Australia.

Some of the major players operating in Australia Internet of Things (IoT) market are Cisco Systems, Inc., Oracle Corporation, Amazon Web Services, Inc., Bosch Software Innovations GmbH, International Business Machine (IBM) Corporation, Intel Corporation, SAP SE, Hewlett Packard Enterprise, Google Inc., Microsoft Corporation etc.

Conclusion: Australia Internet of Things (IoT) market is expected to grow during the forecast period on the back of rising demand for smart devices like watches, phones, fitness bands etc., increase in development of cloud-based application and technological advancements. Moreover, IoT has reformed the way administrations across industries to interact with their customers and help them in their business processes.