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What is information technology?
These days the term IT is used so frequently that it can be difficult for many to articulate what it actually means. The term can be misleading because the information in information technology does not adhere to the conventional meaning of the word. In this context, information refers to computer-related information systems. Information technology is a catch-all term that includes research, design, development, management, support, and implementation of these systems.
This is why IT news can be about a variety of companies and myriad topics, from data security at manufacturing firms to automobile electronics, if it involves computing and computer information, it qualifies as information technology.
Information technology in Australia
In 2016, 640,000 people working in Australia's tech section. According to Deloitte, this number is expected to increase to 722,000 by the year 2022. This rapid growth is fueled by the fact that information technology is not just a part of every consumer's life but is playing a bigger and role in business operations as well. These days all businesses need IT services and solutions and this has led to an increase in demand for tech professionals.
There is a lot of IT news in Australia that you should keep up with as it impacts business, the consumer market as well as everyday life. The impact of information technology can have on everyday life can be illustrated by the media code legislation that led to tensions between the Australian government nad tech giants Google and Facebook. During the discussion, Facebook made a startling decision to block all news on Facebook in Australia. Citizens woke up to a very different platform than the one they are used to seeing every day. A survey by Roy Morgon revealed that 37% of Australians get their news from social media sites like Facebook. That's quite a significant section of the population that has to adapt where they get their latest IT news, business news or important government updates because a tech company made a rash decision.
Australia's biggest tech companies
When people think about big tech companies, names like Appple, Facebook, Amazon, and Google are the first that come to mind. These companies have a presence around the globe but are based in the United States. Though they may not be as well known as the examples given above, Australia is home to some of the world's largest tech companies. We've listed 3 of them below
With a market cap of USD 18 billion, Altassian has quickly become one of the world's largest tech companies. The company was founded by Australians Mike Cannon-Brookes and Scott Farquhar back in 2002. Altassian provides tools and builds platforms for businesses. One of their best-known products is JIRA which is used widely for project management.
2. REA Group
The REA group has a market cap of USD 9 billion. The group specializes in digital advertising for properties. They own and run some of Australia's most popular residential and commercial property websites that include realestate.com.au, realcommercial.com.au, and Flatmates.com.au.
3. Xero Ltd
With a market cap of USD 5.5 billion, over 1.5 million subscribers for its accounting software, and a presence in over 180 counties, Xero is a pretty big deal in the tech industry. Founded is 2006, Xero provides cloud based accounting software to businesses around the world and currently employs over 2300 people. The company has offices in Australia, New Zealand as well as the united kingdom.
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