Australia B2B Mobility Forecast 2024

Growth in the Australian B2B mobility market is driven by a 7.3% CAGR in IoT connectivity and managed services expansion.

David Kennedy · Venture Insights11 September 2024Period: FY2412 min read

Last updated 6 May 2026

2.3%↑

Total B2B mobile services and hardware revenue CAGR (FY23-28)

$5.124B↑

Projected total B2B mobility revenue (FY28)

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Abstract

Total B2B mobile services and hardware revenue in Australia is projected to grow at a +2.3% CAGR over FY23/28, reaching $5.124 billion. Lower-than-expected FY24 ARPUs due to low economic growth and heightened competition contributed to lower growth in FY24. Stronger growth is anticipated from FY25 onwards. The SMB mobile market will grow at a 1.8% CAGR to $2.50 billion by FY28, while the enterprise segment will grow at a 2.8% CAGR to $2.629 billion, driven by increased IoT and managed mobility spending.

Key Takeaways

Total Australian B2B mobility revenue is forecast to reach $5.124 billion by FY28, representing a 2.3% CAGR from FY23.
IoT connectivity is the fastest-growing product category at a 7.3% CAGR, driven by large-scale enterprise digital transformation projects.
Managed mobility services are projected to grow at a 7.2% CAGR to $302 million as businesses prioritize security and BYOD management.

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Frequently Asked Questions

Total B2B mobility revenue is projected to reach $5.124 billion by FY28, reflecting a 2.3% CAGR. While FY24 growth was dampened by low economic activity and competitive ARPU pressure, a stronger recovery is expected to begin in FY25.

IoT connectivity is the primary growth engine with a 7.3% CAGR, driven by large-scale digital transformation. Managed mobility services follow closely at a 7.2% CAGR, set to reach $302 million as businesses increase spending on security and device management.

The market remains highly concentrated, with Telstra holding a dominant 65% share of B2B mobile services revenue. Optus and TPG Telecom follow with 19% and 11% shares respectively, leaving minimal room for smaller challengers.

Hardware revenue is forecast to decline at a 0.8% CAGR through FY28. This contraction is a direct result of businesses extending device refresh cycles and the continued shift toward Bring Your Own Device (BYOD) policies.

The enterprise segment (200+ employees) is the top performer, growing at a 2.8% CAGR to reach $2.629 billion by FY28. This outpaces the SMB market, which is expected to grow at a more modest 1.8% CAGR over the same period.

Abstract

Key Takeaways

Total Australian B2B mobility revenue is forecast to reach $5.124 billion by FY28, representing a 2.3% CAGR from FY23.

IoT connectivity is the fastest-growing product category at a 7.3% CAGR, driven by large-scale enterprise digital transformation projects.

Managed mobility services are projected to grow at a 7.2% CAGR to $302 million as businesses prioritize security and BYOD management.

Frequently Asked Questions

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