IOT in Melbourne
Melbourne is becoming an increasingly attractive location for investors and entrepreneurs in the Internet of Things (IOT) space.
In particular, the industrial internet of things market (IIOT) in Melbourne is forecast to grow between 20-40% per annum and is expected to reach US$1bn by 2020.
Melbourne is an attractive future IIOT market because of Victoria's strengths in the energy, mining and metals, infrastructure and logistics, agriculture and industrials and manufacturing sectors.
- Mining: two of the world’s largest mining companies: BHP Billiton and Rio Tinto
- Industrials and Manufacturing: Bosch, Boeing, Holden and Indice
- Telecoms: Melbourne is head office for Telstra, and Optus, the country's largest two telcos
- Software: Oracle, Siemens, Computershare
Melbourne has a significant base of companies in the right industries to generate demand for IIOT. The market capitalisation of companies in these sectors is the largest of any city in Australia.
From a talent perspective Melbourne’s universities are producing more technology and engineering graduates than any other city in Australia: approximately twice that of Sydney and almost four times that of Singapore.
- The University of Melbourne is ranked 33 in the Times Higher Education rankings
- Monash University has the largest student population of any Australian university
- Deakin University enjoys as strong reputation amongst international students.
There are currently around 40 firms supplying or developing IITO offerings in Melbourne with approximately 65% providing solutions, 20% providing software and hardware and 15% providing consulting.
Melbourne has a thriving startup community that is supported by significant state government funding through LaunchVic along with approximately 170 coworking and collaboration spaces.
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