Internet & Technology

This industry is primarily engaged in publishing and broadcasting content on the internet, providing electronic data processing or hosting services. These businesses provide textual, audio and video content of general or specific interest on the internet, provide specialised hosting activities such as web hosting, streaming services or application hosting, application service provisioning, or general timesharing mainframe facilities to customers.

The Internet industry has expanded rapidly over the past five years as consumers increasingly migrate to the internet on a greater number of devices. The greater convenience and lower cost of using the internet to both provide and consume services has resulted in this migration. The explosion of smartphones throughout the population has provided an added boost as consumers are constantly connected. The majority of industry revenue is generated from activities that are digital equivalents of services previously provided in newspapers, such as advertising and print news.

The industry is moderately capital-intensive. Data processing and web hosting services require significant amounts of both technological investment and high skilled labour to operate required technology appropriately.

Improved broadband services are also driving users to upgrade their plans, as technologies like ADSL2+, VDSL and WiMAX surpass standard DSL services. Penetration of these technologies has been increasing fast and will continue to propel revenue growth.

Source of Report – IBIS world (http://www.ibisworld.com.au)