IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Hyperconnectivity market represents billion-dollar opportunities, analysts find

By Catherine Knowles
Wed 10 Mar 2021
FYI, this story is more than a year old

The hyperconnectivity market represents billion-dollar opportunities, according to recent analysis from Frost & Sullivan.

The analyst report, ‘Future of Connected Living’, reveals that the device-to-person ratio will exceed 20 to 1 by 2030 as the world enters the era of hyperconnectivity and catapults organisations digital transformation.

The number of connected devices globally is projected to increase from 30.4 billion in 2020 to 200 billion in 2030 at a compound annual growth rate (CAGR) of 20.7%.

According to Frost & Sullivan, the convergence of connected cities, homes, and workplaces will result in ubiquitous connectivity and the emergence of new product applications, business models, technologies, platforms, and services.

The analysts find demand for connected living will be primarily driven by advanced software technology, widespread content streaming, and network integration.

The rising demand is projected to quadruple smart and connected home penetration over the next five years to reach over 18% by 2025.

Furthermore, spending on the smart city sector is expected to reach $327 billion by 2025, up at a strong CAGR of 22.7%, and will lead to higher adoption of technologies such as artificial intelligence (AI) and 5G.

Breaking down the opportunities for manufacturers and service providers

Frost & Sullivan states that connected device manufacturers and service providers that want to leverage growth opportunities must focus on these key areas:

Digital Workflows: 70% of companies are expected to adopt a hybrid work structure by 2030. Digital workflows can eliminate manual, repetitive tasks to allow workers to focus on improving performance and value-add to customers.

Companies must shift to an organisational approach to benefit from digital workflows, which will lead to optimised processes, the analysts state.

Connected Services Ecosystem: With a digital-first strategy in place, governments must partner with connected service providers (CSPs) to deliver better social benefits, improve public service outreach, and raise awareness among citizens.

Online services warrant collaboration between the government, tech companies, and CSPs to ensure seamless and effective integration and access to all citizens.

Internet of Homes: Demand for contactless biometrics and voice control security technologies is on the rise as AI home virtual assistants become more universally accepted.

Smart home product providers need to develop multi-functionality products that control multiple appliances and enable integration for ease and control.

There is room for strategic partnerships between insurers, telecommunication companies, and online retailers to leverage the space.

Multi-sided Platform Orchestrators: CSPs will shift to become data controllers and dataflow orchestrators, so they need to nurture an open ecosystem orchestrators built on relevance, scalability, experience, and trust.

Network service providers can position themselves as trusted partners and build an ecosystem dedicated to the installation, control, and management of data across multiple environments.

Expert commentary from Frost & Sullivan

Frost & Sullivan program manager TechCasting, Vinay Venkatesan says, “The future home will become a central hub for connected living. The demand for connected living solutions soared as a result of the COVID-19 outbreak in 2020, as it allows homes to evolve into on-demand workspaces and much more.

"Continued advancements in connectivity technologies such as cloud services, Internet of Things (IoT), video conferencing, mobility, robotics, and AI will create innovation frontiers for connected technology and service providers.

"The convergence of 5G and Wi-Fi 6 will be a crucial enabler for connectivity as they will improve communication network speed, customer experience, and long-term cost efficiency."

Venkatesan says, "To succeed in the connected era, companies cannot do it alone. Enterprises need to establish new partnerships, engage with a broader ecosystem, and explore new business models to deliver a unique value proposition.

"While connected living drives digital resilience, it also carries major risks such as data insecurity and vulnerability to cyberattacks.

"Therefore, organisations are encouraged to develop a detailed cybersecurity strategy that will align with their goals and facilitate the provision of secure connected services to customers anywhere."

Future of Connected Living is the latest addition to Frost & Sullivans TechCasting research and analyses available through the Frost & Sullivan Leadership Council.

Related stories
Top stories
Story image
Cybersecurity
Infoblox's State of Security Report spotlights Australian remote work hazards
Attackers exploit weak WiFi, remote endpoints, and the cloud, costing 50% of organisations over $1.3 million in breach damages.
Story image
Wireless
Cradlepoint expands its Cellular Intelligence capabilities
Cradlepoint has announced additional Cellular Intelligence capabilities with its NetCloud service.
Story image
Customer experience
Research unveils precarious customer loyalty for retailers
New research has found customers are reassessing established brand loyalties as their priorities and behaviours shift.
Story image
Digital Transformation
Trading up: It's time to swap core systems for flexible digital applications
This year will see more oranisations planning and commencing high tech renovations that will shake up the way they operate.
Story image
Testing
Google and CSIRO use AI to help protect the Great Barrier Reef
Google has partnered with CSIRO in Australia to implement AI solutions that help protect the Great Barrier Reef.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Attain
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Artificial Intelligence
Clear Dynamics closes $35M funding round, invests in global growth
The funding is a major milestone and speaks to Clear Dynamics’ vision for AI-enabled ‘composable’ enterprise software, the company states.
Story image
Microsoft
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Story image
PaaS
New digital traffic light system to tackle construction defects
Smarter Defects Management launches its PaaS digital system and says it will revolutionise managing defects in the construction industry.
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Lightspeed
Lightspeed launches all-in-one marketing platform in A/NZ
ECommerce provider, Lightspeed has launched a new all-in-one marketing solution, Lightspeed Marketing & Loyalty in Australia and New Zealand.
Story image
Digital Transformation
How to modernise legacy apps without compromising security
At a time when digital transformation has become central to business, even the most important applications come with a ‘use-by’ date.
Story image
Telstra
Telstra and Silver Trak Digital delivers 5G to the cinemas
Telstra and Silver Trak Digital say they've launched Australia's fastest and most secure delivery of content over 5G for cinemas.
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
SaaS
Atturra partners with Focus HQ to support Aus organisations
Atturra has executed a partnership agreement with Focus HQ, to resell and support the company's Australian developed SaaS-based portfolio management platform.
Story image
SaaS
Cloudflare launches instant serverless database for dev teams
"Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world."
Story image
Sustainability
Grasping the opportunity to rethink the metrics of a sustainable data centre
A data centre traditionally has two distinct operations teams: the Facility Operations team, and the IT Operations team. Collaboration between them is the key to defining, measuring, and delivering long-term efficiency and sustainability improvements.
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Artificial Intelligence
AI-based email security platform Abnormal Security valued at $4B
"A new breed of cybersecurity solutions that leverage AI is required to change the game and stop the rising threat of sophisticated and targeted email attacks."
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image
Story image
Digital Transformation
The impact of COVID-19 on healthcare environments and care delivery
The COVID-19 pandemic has revolutionised the healthcare industry while overcoming staff shortages, social distancing requirements, and lockdowns.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Apple
Apple previews new features for users with disabilities
Apple says new software features that offer users with disabilities new tools for navigation, health and communication, are set to come out later this year.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Artificial Intelligence
How to ensure ethical deployment of AI implentations
The increase in automation and machine technology such as AI and machine learning has unlocked a whole new level of scale and service to organisations. 
Story image
Sustainability
Power at the edge: the role of data centers in sustainability
The Singaporean moratorium on new data center projects was recently lifted, with one of the conditions being an increased focus on power efficiency and sustainability.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
CRM
Zendesk announces new conversational CRM solutions
“The last few years have made it obvious that digital is the front door, convenience is paramount and relationships are anchored in conversations."
Story image
Manufacturing
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
Alteryx
Decision Inc. Australia enters partnership with Alteryx
Independent data and analytics consultancy Decision Inc. Australia has partnered with automated analytics company Alteryx, expanding its offering to clients.
Story image
BeyondTrust
BeyondTrust integrates Password Safe solution with SailPoint
BeyondTrust has announced the integration of BeyondTrust Password Safe with SailPoint identity security offerings.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Artificial Intelligence
CFOs using digital workers and AI to prevent unnecessary loss
New technology is now allowing CFOs to use digital workers to automate their accounting processes, making it easier for them to avoid unnecessary losses.
Story image
Cybersecurity
Managed service providers: effective scoping to avoid costly vendor pitfalls
Managed security services are outsourced services focusing on the security and resilience of business networks.
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.
Story image
Fortinet
Fortinet's Security Fabric hits new record for integrations
The Fortinet Security Fabric has surpassed 500 technology integrations with more than 300 Fabric-Ready Technology Alliance Partners.
Story image
Talend
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
trust
9/10 Aussies to stop spending if personal data compromised
"Based on the patterns we are seeing among Australian consumers, it is evident that trust in a brand is exceptionally important."