Australia Data Monetization Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Offering (Solution, Services), By Deployment Model (On-Premise, Cloud), By Enterprise Size (Small, Medium, Large), And By End-User Industry (Retail, Manufacturing, Automotive, BFSI, Media and Entertainment, Others) - Forecasts From 2022 to 2027

Australia data monetization is projected to grow at a CAGR of 5.68% to attain a market size of US$2.009 billion by 2027, from US$1.364 billion in 2020.

The major factors driving the market growth are the tremendous expansion of industries in this country. Huge expenditures by businesses in the country, as well as the expanding digitization of business operations, are driving businesses to adopt solutions to help them grow. The development of information monetization solutions is growing as large data sets generated by company operations may be leveraged to get actionable insights, promoting the market growth.

Australia Data Monetization Market Drivers:

• Resilience of Australia's cyber security

More sensitive or confidential data is being transmitted to the cloud as cloud services become more widely embraced in industry and government. To facilitate the secure deployment of these services, the Australian Cyber Security Centre (ACSC) and the Digital Transformation Agency developed cloud security guidelines in 2020. In addition, the Australian government has invested in the Cyber Enhanced Situational Awareness and Response (CESAR) strategy, which is intended to assist them in identifying cyber threats, disrupting cybercrime, and fostering industry-government partnerships. Surprisingly, many cyber dangers were not really understood by respondents in an Australian assessment of small and medium firms, which could highlight an area where changes should be made to strengthen the country's cyber security resilience.

• Market for public cloud computing

The software as a service (SaaS), infrastructure as a service (IaaS), and platform as service (PaaS) sectors dominate the Australian public cloud market. These cloud services can help new businesses get off the ground by decreasing the initial expenditure necessary. Furthermore, many current organizations in Australia have begun to restructure or modify their business models to make use of cloud services, which provide advantages such as lower prices, no operations, and adaptability.

• Technologies advancement

The public sector, BFSI, healthcare, and retail sectors are among the industries that are rapidly adopting cloud services. To address the rising demand for online services and improve user experience, the Government of Canada is focusing on adopting cloud-based service delivery models. The ongoing transformation of IT infrastructure across the aforementioned industries will help users overcome the hurdles of providing customers with new technology-enabled services.

Australia data monetization Market: By End-User

Based on the end-user industry, the segment is divided into retail, manufacturing, automotive, BFSI, media and entertainment, and others. In the other segment, the IT infrastructure services have the highest growth due to increased investment by suppliers of this region, and cloud technologies have seen tremendous expansion in Australia. Most Australian data center providers' fastest-growing categories are cloud vendors. Approximately 40-50 percent of the organization's IT budget was spent migrating to cloud-based services in the previous year. The rising demand for colocation services, particularly from wholesale data centre operators, has been fueled by the increased adoption of cloud computing by government and business organizations. By 2023, many vendors predict that over 80-90 percent of SMEs in the country will have adopted cloud and that 70-80 percent of medium-sized and big data centres will have outsourced their data centre operations.

Over the previous two years, massive amounts of data centre capacity have been built. In the short term, this resulted in lower-than-average occupancy rates, doubling down on pricing. The country's data centre floor space is also growing at a rate of 10-14 percent each year, and the market is likely to continue to rise in the coming years. Edge computing is becoming a major trend, and the current work-from-home paradigm has advanced it even more. Several markets that were previously considered too small are now seeing the deployment of edge nodes.

COVID-19 Insight

COVID-19-fueled rapid shifts in Australian firms included widespread adoption of remote labor, automation of core business processes, and reliance on digital channels for customer interactions. Cloud-based platforms and services will continue to be a crucial component of this continuing transition, with enterprise cloud spending expected to grow over the projected period. The recent COVID-19 problem has underlined the need for digital infrastructure to improve connections in remote and rural locations of Australia. As a result, edge data centers are becoming more appealing to Australian businesses, particularly start-ups.

Competitive Insights

To remain competitive in the market, industry players are implementing various strategies such as new product launches, mergers and acquisitions, collaborations with the government, investment for start-ups, and technical developments. For instance- Australia's Digital Transformation Agency Cloud Marketplace awarded Atos a three-year contract to deliver cloud services to federal government departments in August 2021. Some major market players are IBM, SAP, Accenture, and IBM.

Segmentation

• By Offering
  • Solution
  • Services
• By Deployment Model
  • On-premise
  • Cloud
• By Enterprise Size
  • Small
  • Medium
  • Large
• By End-User Industry
  • Retail
  • Manufacturing
  • Automotive
  • BFSI
  • Media and Entertainment
  • Others

Accenture

SAP

Google

IBM