Dublin, Dec. 26, 2024 (GLOBE NEWSWIRE) — The “Australia IT Hardware Market, By Region, Competition, Forecast and Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
The Australian IT Hardware Market is experiencing a significant growth trajectory, with a forecasted value increase from USD 2.70 Billion in 2023 to USD 4.35 Billion by 2029, progressing at a compound annual growth rate (CAGR) of 8.10%. As the digital infrastructure cornerstone, IT hardware is integral to the functioning of modern digital ecosystems, ranging from personal computing to complex enterprise operations.
Advancements in technology stand as a major driving force behind the growth of the IT hardware market in Australia. Innovations in processing power, semiconductor technology, and the rising demands for cloud computing and big data analytics accentuate this trend. The emergence of high-performance computing and AI is simultaneously elevating demand for specialized hardware capable of handling complex computations and vast data sets, further reiterating the positive market prospects.
Enhanced Data Center Requirements and Cloud Computing Pivotal to Market Growth
A significant surge in data center demand accompanies the market’s expansion. The critical need for scalable and robust data center solutions is highlighted by the increased data traffic resulting from cloud computing services and big data operations. Substantial investments in developing and expanding data centers are thus bolstering the demand for servers, storage systems, and networking equipment, indicating a strong market for data center hardware components. Parallelly, the growth of cloud computing is fueling the need for extensive IT hardware as more businesses embrace cloud services for application hosting and data storage solutions.
Rising Cybersecurity Threats Prompting Greater Market Demand
In an era of escalating cybersecurity threats, there is a heightened focus on deploying specialized IT hardware to fend off these risks. The market is observing an uptick in advanced security hardware investment, including firewalls and encryption devices, to protect against sophisticated cyber threats and comply with stringent data protection regulations.
Challenges Including Supply Chain Disruptions and Technological Obsolescence
The Australia IT Hardware Market faces challenges which include supply chain disruptions and rapid technological obsolescence. Global supply chain intricacies are sensitive to geopolitical and pandemic-related disturbances, as seen during the COVID-19 crisis, which impacted the availability and cost of IT hardware components. Technological obsolescence presents another impediment as the rapid life cycles of hardware components require continuous innovation and replacement, impacting both manufacturers and consumers.
Emerging Market Trends Influencing The Future
The market is witnessing emerging trends, such as the increasing adoption of edge computing that promises enhanced performance through data processing closer to the collection point and the expansion of 5G infrastructure that necessitates upgraded IT hardware for enhanced connectivity. Furthermore, there is an increasing emphasis on sustainability and energy efficiency in IT hardware development to address environmental concerns and regulatory demands.
Regional Market Insights and Key Players
New South Wales (NSW) emerges as the dominant region, hosting a myriad of corporate headquarters, financial institutions, and technology firms which create a prosperous market for IT hardware. Key market players propelling the industry forward include Hewlett Packard Enterprise Company, Cisco Systems Inc., and IBM Corporation, among others. The IT Hardware Market in Australia stands at the confluence of technological innovation, demand growth, and strategic market forces, which underscores its vital role in the overall advancement of the country’s digital landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 87 |
| Forecast Period | 2023 – 2029 |
| Estimated Market Value (USD) in 2023 | $2.7 Billion |
| Forecasted Market Value (USD) by 2029 | $4.35 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Australia |
Some of the key companies profiled in this Australia IT Hardware Market report include:
- Hewlett Packard Enterprise Company
- Cisco Systems Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Intel Corporation
- NVIDIA Corporation
- Pure Storage Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4munrb
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- Australian IT Hardware Market
