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In 2018, the size of the software as a service (SaaS) segment of the public cloud market in Australia was valued at around 3.8 billion U.S. dollars. This was forecast to more than double to reach roughly 8.1 billion U.S. dollars by 2023. Overall, the value of the public cloud market in Australia was expected to exceed 10 billion U.S. dollars by 2023.

 Public cloud market 

The public cloud market in Australia is dominated by the software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS) segments. Startups entering the market can benefit from these cloud services by lowering the initial investment required. Additionally, many existing businesses in Australia have started to change or adapt their business model around cloud services, with the benefits including lower costs, no maintenance, and scalability. The estimated GDP impact of the public cloud market in Australia is forecast to surpass 100 billion U.S. dollars in the coming years.

 Australia’s cyber security resilience

  As cloud services are adopted across industry and government, more sensitive or confidential data are being transferred to the cloud. The Australian Cyber Security Centre (ACSC) and the Digital Transformation Agency released cloud security guidelines in 2020 to support the secure adoption of these services. Furthermore, the Australian Government has invested in the Cyber Enhanced Situational Awareness and Response (CESAR) strategy, designed to support them in the identification of cyber threats, disrupt cybercrime, and to build partnerships between industry and government.

Interestingly, in a survey of small and medium businesses in Australia, many cyber threats were not well understood by respondents, which could indicate an area where improvements could be made to increase the resilience of the country’s cyber security.