Australia Internet of Things (IoT) Market Projected to Reach USD 92.6 Billion by 2033

Market Overview
The Australia Internet of Things (IoT) market was valued at USD 30.5 Billion in 2024 and is forecasted to reach USD 92.6 Billion by 2033, growing at a compound annual growth rate of 13.15% during 2025-2033. This growth is driven by expanding smart city initiatives, rapid adoption of connected devices, advancements in 5G technology, increasing industrial automation, and strong government support fostering digital transformation and data-driven decision-making. These factors combine to fuel the market's robust expansion over the forecast period. For detailed insights, visit the Australia Internet of Things (IoT) Market
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How AI is Reshaping the Future of Australia Internet of Things (IoT) Market:
• AI-powered analytics facilitate the processing of real-time data from IoT devices, enhancing decision-making across healthcare, transportation, and manufacturing sectors.
• Government initiatives support integration of AI with IoT through funding and public-private partnerships that accelerate innovation and deployment in smart infrastructure.
• Companies like Sateliot are expanding 5G satellite IoT connectivity, enabling AI applications in remote areas with over 300,000 devices connected, generating significant revenue.
• AI enhances remote patient monitoring and chronic disease management by analyzing continuous IoT data streams, improving healthcare outcomes and reducing hospital visits.
• The rise of interoperable IoT ecosystems powered by AI-driven platforms is enabling smarter smart city infrastructure, including traffic and energy management.
• AI and IoT convergence is driving automation in agriculture and mining, using predictive maintenance and real-time monitoring for improved productivity and safety.

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Market Growth Factors
Smart city projects are an important driver of IoT market growth in Australia, with cities like Sydney, Melbourne and Brisbane utilizing IoT technology to manage street traffic and waste, optimize energy grids for power usage, and monitor public safety. Sensors enable real-time data gathering for use in urban planning, which is projected to grow the addressable market proportionately to population growth, partly due to increasing sustainability for Internet of Things (IoT)-based solutions. The high adoption of smart technologies to optimize energy consumption and reduce congestion is another important market driver.

In Australia, 5G is allowing data speed increases, reductions in end-to-end latency and greater network capacity, helping to improve the performance of IoT applications within areas like healthcare, including real-time remote patient monitoring, and the transport sector with connected and autonomous vehicles. The dependable scalable nature of 5G technology encourages industries in adopting IoT solutions for improved operational efficiency and innovative service delivery, driving the market growth.

Industrial automation of manufacturing, mining, and agriculture drives demand too using IoT for monitoring and predictive maintenance. In industry, IoT applications can optimize processes. IoT in mining is used to improve health and safety and track assets. IoT in agriculture can be used to optimize water usage, monitor plant health, and automate machinery. Increased use of automation to improve productivity and reduce labor costs has a likewise large positive impact on IoT for Australia.

Market Segmentation
Component Insights:
• Hardware
• Software
• Services
• Connectivity

Application Insights:
• Smart Home
• Smart Wearables
• Smart Cities
• Smart Grid
• IoT Industrial Internet
• IoT Connected Cars
• IoT Connected Healthcare
• Others

Vertical Insights:
• Healthcare
• Energy
• Public and Services
• Transportation
• Retail
• Individuals
• Others

Regional Insights:
• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia

Key Players
• M2M One
• Sateliot
• Myriota
• Secolve
• Itron, Inc.

Recent Development & News
• June 2025: M2M One introduced M2M One Satellite Airtime, a satellite IoT service for remote industries in Australia and New Zealand, integrating data plans with hardware to support mining and agriculture sectors. Byron Thanoupoulos was appointed Director of Product Management for this service.
• May 2025: Sateliot entered the Australian market, securing contracts to connect over 300,000 IoT devices and generating over 15 million AUD in recurring revenue. The company's 5G satellite connectivity service aims to enhance IoT accessibility in remote areas with commercial rollout planned for late 2025.
• April 2024: Sydney-based Secolve signed a distribution deal to bring Asimily's IoT risk management platform to Australia, enabling organizations to manage IoT security threats with features like vulnerability mitigation and incident response.

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