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Digital Ecosystems

Austria is pushing forward with IoT applications

The market for applications for the Internet of Things (IoT) is set to treble in Germany’s neighbor by 2025, and even quadruple by 2030. According to one study, telecommunications companies in particular could benefit from the worldwide IoT boom.

22 Feb. 2019
Austria is pushing forward with IoT applications (Photo by Jacek Dylag on Unsplash)

The volume of the IoT market in Austria is currently around EUR 4.2 billion. According to a forecast by the consultancy company Ernst & Young (E&Y) , the total will increase to around EUR 11 billion by 2025 and EUR 16 billion by 2030. Austria is therefore above the international average and is one of the pioneers of a trend that experts are anticipating will enjoy huge growth worldwide, too: by 2030 spending on the Internet of Things is set to increase from $635 billion currently to $2.3 trillion. Telecommunications providers, who have recently been under pressure, could benefit disproportionately from the boom, the study claims.

The forthcoming 5G cell phone standard will be particularly important here. A key requirement for successful sales of IoT solutions, the consultants say, is a well-structured product range. This includes integration of the various services into one technical platform, cross-system marketing with one-stop shopping and the development and management of services under one roof.