Australian Software Industry Trends Today

Australia’s software industry is growing. What industry trends are we looking at?

In 2019, over 22,500 new companies registered in Australia. A large number is attributed to software companies.

In 2020, a whopping 33,400 workers were from the tech industry.

Although these numbers may not be at par with other big countries, this gives you an idea of the direction Australia is taking in terms of technology.

We build custom software with modern solutions in mind for any business and sizes!

Software Industry Trends

The software industry in Australia has been on an upward trajectory. Here are some of the noticeable trends.

This is not a new field in Australia but certainly, one that has been on steady growth for a long time. In 2017, the Center for Artificial intelligence was established in Melbourne which later grew into a world-class institution and was renamed the Australian Artificial Intelligence Institute in 2020.

Blockchain Australia is a relatively new technology company in Australia, only taking a foothold in early 2016. Since its establishment though it’s become Australia’s leading blockchain development and consulting company. The Blockchain field has since grown in Australia to rank 6th in the world, with 49 patent families in blockchain.

This is the area of computer technology that uses quantum physics in building computer technology that can perform complex tasks at incredible speeds. This is still a budding industry in Australia. However, according to Stockhead, 2021 is the breakout year for Australia’s quantum computing.

This refers to the interconnection of regular physical items via the internet. IoT has grown with the support of the Australian government. Among other efforts to develop the IoT in Australia is the IoT Alliance Australia, a peak body formed in 2016 to accelerate its growth and adoption.

Owing to its rapid growth in the software and technology industry, Australia takes a keen interest in cybersecurity. In 2014, the government founded the Australian Cyber Security Center to protect the people and their businesses from cyber-attacks.

Big data technology refers to the analysis, manipulation and extraction of data from extremely large and complex datasets using advanced tech tools. This is another rapidly growing industry in Australia, showing an average growth rate of 2.4% per annum in the data science labour force.

Cloud services are computer services available remotely via a cloud computing server. According to Statistica, this $3.8 billion industry is set to double by 2023.

Australia is the world’s 11th largest e-commerce market bringing over $25 billion. This implies that e-commerce software solutions are increasing in demand.

What future trends is Australia looking at?

Australia will be looking to reinforce the technology workforce to keep up with the world-class tech growth. Australia’s Tech Future gives a more comprehensive account of the trends Australia is forecasting. Do let us know if this article was helpful. Check out Laneways Software & Digital for more reports and updates on software development.

We build custom software with modern solutions in mind for any business and sizes!