Australia has a very supportive legal and regulatory framework and strong IT infrastructure. IBM, Cisco, Alcatel-Lucent, CSC, and Avaya, which are all major IT vendors, have located their R&D and technical assistance facilities in Australia. Technavios market research analyst expects the IT spending in Australia to grow at a CAGR of more than 6% during the forecast period. The major adopters of IT in this region are industries such as BFSI, manufacturing, mining, telecommunications, healthcare, life sciences, pharmaceuticals, education, and retail.
The Australian government is making a massive investment in technology to improve ICT infrastructure and thereby increase trade in the country. This initiative taken by the government is a major driver for the growth of IT spending in Australia. The approach of the Australian Government to improve government operations includes several policies on the efficient and innovative use of technology in ICT infrastructure development.
Segmentation by technology and analysis of the IT spending in Australia
IT services Hardware Software IT services is the largest segment of the market in Australia, constituting a market share of about 59% as of 2014. This segment is also one of the fastest-growing segment of the global IT market. IT services spending is usually less affected by economic uncertainties, such as inflation and recession. Hence Australian firms make large investments in this segment, depending on their IT budget allocation.
Competitive landscape and key vendors
The IT spending market in Australia is thriving successfully. Hence, it offers immense growth opportunities for many suppliers, supporting IT products such as hardware, software, and services. The key vendors, with their broad portfolios of services, solutions, and products, have a significant hold over the market and a strong base in the country.
The top vendors in the market are -
Dell Google HP IBM Lenovo NetApp Other prominent vendors in the market include Aconex, Advanced Solutions International, Altis Consulting, Apple, Atlassian, Cisco, CSC, Datacom, Distribution Central, Intuit, Kiandra System Solutions, Objective, OBS, Panasonic, Rackspace, Revolution IT, Salesforce, SAP, SAS, TLC IT Group, Tramada Systems, and Toshiba.
Growth drivers, challenges, and upcoming trends: IT spending
Technavios market research analysts highlight upcoming trends such as the increasing adoption of IoT technology, which is one of the most sought after innovations in the IT industry, and this innovation is going to revolutionize the IT industry very shortly.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the IT spending in Australia. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019 What are the key factors driving the IT spending in Australia What are the key market trends impacting the growth of the IT spending in Australia What are the challenges to market growth Who are the key vendors in the IT spending in Australia What are the market opportunities and threats faced by the vendors in the IT spending in Australia What are the key outcomes of the five forces analysis of the IT spending in Australia Technavio also offers customization on reports based on specific client requirement.
IT Market in Australia 2015-2019 Enterprise ICT Spending Market in Australia 2015-2019 E-Commerce IT Spending Market In China 2015-2019
Technavio Announces the Publication of its Research Report IT Spending in Australia 2015-2019
Technavio recognizes the following companies as the key players in the IT Spending in Australia: Dell, Google, HP, IBM, Lenovo and NetApp
Other Prominent Vendors in the market are: Aconex, Advanced Solutions International, Altis Consulting, Apple, Atlassian, Cisco, CSC, Datacom, Distribution Central, Intuit, Kiandra System Solutions, Objective, OBS, Panasonic, Rackspace, Revolution IT, Salesforce, SAP, SAS, TLC IT Group, Tramada Systems, and Toshiba.
Commenting on the report, an analyst from Technavios team said: Augmented reality technology is witnessing gradual traction in the Australian market, and many firms are investing in this technology. Increased adoption of smartphone technology in Australia is also driving this market. Augmented reality is helping customers to obtain information through mobile phone applications in the banking system, through video and graphics.
According to the report, demand for contactless mobile payments systems in Australia is increasing at a very high rate. Australian consumers are rapidly adopting innovative payment technologies for a superior user experience. Due to the advances in multi-functions, multi-currency, contactless, and mobile payment solutions in Australia, the need for a single platform for digital payment through smartphone devices is increasing.
Further, the report states that one of the major challenges facing the Australian ICT market is the shortage of a professional workforce. As the current workforce wont be able to fulfill the demands of the IT market, this will lead to a loss of revenue for IT vendors as the business will flow to other geographies.