Question 1

What is the overall growth outlook for the Australian B2B IT market through 2028?

Accepted Answer

The market is projected to expand at a 9.7% CAGR, reaching a total value of $30.8 billion by FY28. This growth is fundamentally driven by the continued migration to cloud services and intensified investment in cybersecurity.

Question 2

Which specific cloud technologies are driving the most revenue growth?

Accepted Answer

Cloud computing is the dominant segment, forecast to reach $21.1 billion by FY28. While SaaS holds the largest market share, PaaS is the fastest-growing sub-segment with a 23.3% CAGR through the forecast period.

Question 3

Is the decline in traditional office hardware accelerating?

Accepted Answer

Yes, legacy premise-based UC systems are contracting at 11.2% annually. Conversely, cloud-hosted UC solutions are growing at 9.3% CAGR, shifting the total UC&CC market toward a $1.90 billion valuation by 2027.

Question 4

How much are businesses actually increasing their technology budgets this year?

Accepted Answer

Spending remains highly resilient with 75% of businesses expecting to increase cloud spending in 2024. Cybersecurity specifically is forecast to grow at 8.1% CAGR to reach $7.8 billion, spurred by a 23% rise in reported cybercrime.

Question 5

Which industry vertical offers the strongest expansion opportunity for IT vendors?

Accepted Answer

Health Care and Social Assistance is the primary growth vertical, with IT spend projected to increase at an 11.6% CAGR. This sector will represent a $3.3 billion revenue opportunity by FY28.

Australia B2B IT Forecast and Outlook 2024

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