Australia's IoT Revolution: Market Triples to $92.6B by 2033 on 5G Power

Australia Internet of Things Market Overview

Market Size in 2024: USD 30.5 Billion

Market Size in 2033: USD 92.6 Billion

Market Growth Rate 2025-2033: 13.15%

According to IMARC Group's latest research publication, "Australia Internet of Things Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The Australia Internet of Things market size was valued at USD 30.5 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 92.6 Billion by 2033, exhibiting a CAGR of 13.15% during 2025-2033.

How AI is Reshaping the Future of Australia Internet of Things Market

• AI-Enhanced Smart Cities Infrastructure: Major Australian cities including Sydney, Melbourne, and Brisbane are deploying AI-powered IoT solutions to optimize traffic systems, waste management, energy grids, and public safety systems. These intelligent networks use machine learning algorithms to analyze real-time data from embedded sensors, improving urban planning and decision-making while making cities more responsive to residents' needs.

• Industrial AI and Predictive Analytics: Manufacturing, mining, and agriculture sectors are leveraging AI-driven IoT devices for real-time monitoring, predictive maintenance, and process optimization. Smart sensors equipped with machine learning capabilities track machinery performance, predict equipment failures, and optimize production schedules, resulting in increased efficiency and significantly reduced downtime across Australian industrial operations.

• 5G-Powered Connected Healthcare: The deployment of 5G networks is enabling AI-enhanced IoT devices in healthcare delivery, supporting real-time remote patient monitoring, intelligent diagnostic tools, and automated treatment systems. These advanced capabilities improve healthcare outcomes while reducing operational costs through seamless communication between medical devices and AI-powered analytics platforms.

• Intelligent Agricultural Automation: Australian farms are implementing AI-integrated IoT solutions to optimize water usage, monitor crop health, and automate machinery operations. Smart irrigation systems use AI algorithms to analyze soil moisture, weather patterns, and crop data to deliver precise water management, while autonomous farm equipment powered by IoT connectivity increases productivity and sustainability.

• Connected Vehicle Intelligence: The transportation sector is embracing AI-powered IoT for connected and autonomous vehicles, with 5G connectivity enabling seamless communication between vehicles, infrastructure, and traffic management systems. These intelligent transportation networks improve safety, reduce congestion, and support the development of Australia's autonomous vehicle ecosystem.

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Australia Internet of Things Market Trends & Drivers:

Australia's IoT market is experiencing unprecedented growth driven by expanding smart city initiatives that leverage IoT-enabled solutions to manage urban infrastructure across major metropolitan areas. Cities like Sydney, Melbourne, and Brisbane have implemented comprehensive smart technologies that monitor and optimize energy consumption, reduce traffic congestion, and enhance public services through embedded sensors that collect real-time data. The Australian government and local municipalities are investing heavily in IoT-driven solutions to address challenges related to population growth, environmental sustainability, and resource efficiency, creating a robust foundation for market expansion.

The deployment of 5G technology is revolutionizing IoT capabilities across Australia, offering faster data transfer rates, lower latency, and increased device capacity that enable more reliable and scalable IoT applications. This technological advancement is particularly transformative for industries requiring real-time data processing including healthcare, transportation, and manufacturing. In healthcare, 5G-powered IoT devices enable real-time remote patient monitoring while improving service delivery and reducing operational costs, while the transportation sector benefits from enhanced connectivity supporting connected and autonomous vehicle development.

Industrial automation demand is driving significant IoT adoption across Australia's key industries including manufacturing, mining, and agriculture, with companies implementing IoT systems for real-time monitoring, predictive maintenance, and process optimization. Manufacturing facilities use IoT sensors to track machinery performance and predict failures, mining operations leverage IoT for equipment monitoring and safety improvements, and agricultural enterprises adopt IoT solutions for water optimization and crop health monitoring. The Cyber Security Act 2024, enacted in November with commencement set for March 2026, is establishing new security standards that strengthen consumer confidence in IoT devices while promoting safer, smarter connected ecosystems.

Australia Internet of Things Industry Segmentation:

The report has segmented the market into the following categories:

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

Breakup by Region:

• Australia Capital Territory & New South Wales

• Victoria & Tasmania

• Queensland

• Northern Territory & Southern Australia

• Western Australia

Recent News and Developments in Australia Internet of Things Market

• March 2025: The Australian government announced new funding initiatives specifically supporting IoT solution adoption among small and medium-sized enterprises, demonstrating commitment to democratizing connected technology access and driving broader market penetration across diverse business sectors.

• November 2024: Australia's Cyber Security Act 2024 was enacted with associated rules registered in March 2025 and commencement set for March 2026, establishing comprehensive IoT security standards as a core component of the government's broader 2023-2030 cybersecurity strategy framework.

• August 2025: IoT Alliance Australia industry briefing focused on security labelling for smart devices, with the organization winning contracts to implement consumer technology labels designed to protect users while building trust in connected device ecosystems across Australian markets.

• March 2025: Australia increased investment in smart cities and urban innovation through IoT technology deployment, including funding for connected infrastructure projects covering smart lighting, traffic management, waste management, and sustainability initiatives across major metropolitan areas.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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