The internet of things (IOT) – smart devices connected to the internet that collect and share data – has the potential to boost Australia’s GDP by A$230 billion over the next decade.
There are already an estimated 47 million smart devices in Australian homes. The IoT is increasingly playing a pivotal role across Australia’s economy, including in mining, agriculture, fishing and forestry, construction, manufacturing and the management of cities. Australian businesses of all sizes are embracing the IoT to optimise supply chain performance.
Within Australia’s health and aged care systems, doctors are able to monitor patients’ health and chronic diseases in real time thanks to wearable devices. During the pandemic, smart wearables, such as smart thermometers and pulse oximeters, were used to monitor patients at home.