Australians’ appetite for technology witnessed its biggest growth in history in the decade from 2010 to 2020. There are now 21.6 million smartphones in use, up from 4.4 million in 2010 and we spent $14.4 billion on digital goods and services in 2020, up from $2.2 billion in 2010, according to new research from technology analyst firm Telsyte.
The Telsyte Australian Digital Consumer Study 2021 is the first study produced following Covid, which catapulted the already accelerating adoption of home and personal technology products and services.
The study found the promise of a digital nation is on track with the rapid shift to online and digital services, enabled by mobile technologies and faster internet services.
The number of internet-connected devices grew from less than 35 million in 2010 to 193 million in 2020, and smartphone use increased 390% from 4.4 million in 2010 to 21.6 million in 2020.
Online shopping is no longer seen as a discount channel, especially since the pandemic, now worth $32.9 billion in 2020, up from $11.5 billion in 2010.
The decade also gave rise to new digital goods and services, with the market growing from $2.2 billion in 2010 to $14.4 billion in 2020, driven by online entertainment and mobile applications.
A standout in recent years has been digital video games, with the segment generating $3.4 billion in revenue in 2020 across digital games and extras, and mobile as well as games related subscriptions.
Interests in video entertainment also saw the number of streaming video-on-demand (SVOD) subscriptions growing more than 40-fold between 2014 and 2020, reaching over 16 million services. Three in five (62%) of Australian households were using at least one SVOD service at the end of 2020.
According to Telsyte, technology will continue to underpin adoption and opportunities for new services, including faster internet connectivity such as gigabit NBN and 5G, more sophisticated Artificial Intelligence (AI) adopted by services and applications, smart speakers as the enabler for smart home adoption and an increase in entertainment subscription services (including video, pay TV, music and games).