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Aussie IoT Set To Drive New $120bn Market: Report

SYDNEY – Widescale use of Internet-connected devices could drive up to A$120 billion of new economic activity in Australia over the next decade, according to a report published by the Internet of Things Alliance Australia (IoTAA).

The main industries to benefit from the deployment of IoT will be logistics, public health, retail, transportation, and worksite automation, the alliance says, noting that IoT devices include everything from connected vehicles to smartphones, thermostats, kettles, swimming pools, washing machines, headphones, lamps and wearable devices.

The conclusions are published in Good Data Practice: A Guide for Business to Consumer IoT Services for Australia. In it, IoTAA recommends that would-be IoT providers incorporate privacy and security into the core design of their systems and that information be provided to consumers on collection, uses and disclosures of data.

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