Cloud computing is expected to contribute significantly to Australia’s economy, with projections indicating a rise to $81 billion by 2029. This growth is driven by continued enterprise cloud migrations and a boom in AI computing. The cloud sector’s GDP contribution has seen a 300% growth since 2007, supporting between 47,000 and 56,000 jobs. Cloud computing also boosts productivity by 0.2%-1.0% of GDP annually.
The cloud industry’s contribution to GDP is expected to account for over 0.5% by 2029. The sector supports a significant number of jobs, with projections indicating growth to between 71,000 and 84,000 by 2028-29. The cloud also facilitates regional job creation and provides various productivity benefits, including cost savings and improved operational resilience. As the cloud continues to grow, it is essential to strike a balance between regulation and innovation.
