Industrial Internet of Things (IIoT)
The trend towards connectivity and networking of everyday objects (for example, appliances, smart phones, vehicles, buildings and medical systems), commonly referred to as the Internet of Things (IoT) continues to provide new opportunities in Victoria.
Melbourne is strongly positioned for the Industrial Internet of Things (IIoT) with a large market and well established ecosystem.
Our vibrant IIoT ecosystem will, in turn, drive rapid development in the other technology sectors. Massive generation of data from IIoT will stimulate strong growth in Data Analytics, Operational Technology Security and Fintech sectors in Melbourne.
The Melbourne IIoT market is estimated to grow between 20 – 40 per cent per annum and be worth US$1 billion by 2020. Whilst software, hardware and consulting services are dominated by global players such as Cisco, Huawei, Lenovo, Samsung, Microsoft, HP and SAP, a mix of global and smaller local firms are providing solutions.
Melbourne has a strong and diverse ecosystem with participants emerging from multiple sectors and has a big base of companies in the right industries to generate demand for IIoT.
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