skip to main content
Mike Doman
Technology Journalist

Mike Doman is a technology, lifestyle, industrial and education writer

Mike Doman
Technology Journalist

Mike Doman is a technology, lifestyle, industrial and education writer

Connected devices and the Internet of Things (IoT) are increasingly changing the way we work. So what does a connected Aussie business look like – and how do emerging technologies influence your business now and in the future?

View through the side of an office building

First, what is the Internet of Things?

Gartner describes the IoT as, “the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment”. And as stated by Forbes , the IoT “can transform how organisations design, produce and sell their products and services, as well as how they become part of a larger ecosystem – both physical and digital”.

Put simply, the IoT is a network of Internet-connected objects capable of both collecting and exchanging data. It means a device can talk to another device, including things like smart TVs, mobile phones, tablets, air-conditioners, thermostats, fridges and a whole lot more. While for many it sounds a little bit like science fiction, the truth is the IoT is well and truly here, and it’s already changing how Australian businesses operate and develop new business apps for a vast range of solutions.

According to ACS, the professional association for Australia’s ICT sector, the IoT has the potential to supercharge Australia’s next wave of economic growth. A report titled Australia’s IoT Opportunity: Driving Future Growth, suggests the IoT can reinvigorate Australia’s productivity growth through the key sectors of construction, mining, healthcare, manufacturing and agriculture. At the same time, the IoT provides a $30 billion opportunity for Australia’s tech sector by 2023.

“Australia’s productivity has plateaued in the past decade and our growth has largely relied on the bounty of our natural resources,” said PWC CEO Luke Sayers. “Our future growth is going to come from innovation and embracing the digital revolution. New technologies are triggering a fundamental transformation in the way we are engaging with each other, the world around us and how we do business. The Internet of Things provides a huge opportunity to improve productivity by up to 2% per annum in some industries if we have the courage to embrace it.”

Future IoT impact

This anticipated level of impact is exciting news for Australian business internet solutions, countless innovative business apps and connected device platforms both existing and yet to be developed. The business benefits will be varied yet significant. So what might a connected business look like?

Want more information about how technology can help your business?

Discover resources, reports and insights to help you achieve your goals.

Find out moreWant more information about how technology can help your business?

Young man online shopping
Trends
'Buy now, pay later': Could it help boost your business?

Today, the way your customers expect to book and buy online is more diverse than ever. As a small or medium business, this brings a new opportunity to strengthen your online pr...

Man checking receipts and working on a laptop
Business IQ
Business IQ
Watch out for COVID-19 remote work scams and phishing

Cybercriminals are targeting staff ordered to work from home amid the COVID-19 pandemic, with convincing phishing emails that reference the victim’s workplace.

Business owner and trainee working on a desktop computer
Business IQ
Business IQ
Federal Budget 2021: 5 opportunities for small businesses

Bill Lang, Executive Director of Small Business Australia, shares his take on the key opportunities for small businesses following the Federal Budget 2021 announcement – with a...

Online review options
Trends
Are you harnessing the power of online reviews?

Before choosing to buy, customers are turning to online reviews to see how a business fares. Discover how skillfully managing feedback online can give customers more reason to ...