Thinxtra CEO Nicholas Lambrou believes that businesses are under pressure to improve their environmental, social and governance compliance readiness, and that the current macro environment is pushing them to embrace Industry 4.0. IDC’s Worldwide Semiannual Internet of Things Spending Guide predicts that total IoT spending in Australasia will exceed AUD$16 billion (USD$10.1 billion) in 2022, and that total Asia-Pacific spending will reach USD$277.5 billion (AUD$436 billion) in 2023. Lambrou believes that a drive to realize operational efficiencies, growing pressure for ESG compliance and reporting, the sunset of 3G-reliant technologies in Australia, growing affordability of IoT technologies and rising IoT product awareness could spur growth.
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