Fastest Growing Industries in Australia by Revenue Growth (%) in 2020

1. Buy Now Pay Later in Australia

2019-2020 Revenue Growth: 65.8%

The Buy Now Pay Later (BNPL) industry is a new industry in Australia, established in 2011-12. While the industry is still in its infancy stage, the concept of BNPL is not new, with some industry operators offering similar instalment payment plans prior to 2012. BNPL providers deliver digital, mobile-optimised and quick approved payment plans, which appeal to consumers, especially the younger generation. More consumers are shifting from traditional credit and opting for BNPL services, which allow consumers to get an instant loan at point of sale.

The industry has grown at a meteoric pace over the past five years, albeit from... Learn More

2. Online Grocery Sales in Australia

2019-2020 Revenue Growth: 58.1%

The Online Grocery Sales industry is yet to achieve the scale of the overall online retail sector, but it has made strong inroads over the past five years. Industry revenue is expected to rise at an annualised 29.7% over the five years through 2019-20, to total $5.8 billion. Despite some consumers' initial reluctance to shop for groceries online, demand has grown strongly over the past five years. While ordering groceries online is generally straightforward, receiving these products is often not as simple. Due to the perishable nature of some of the industry's products, refrigeration and timely delivery are important. However,... Learn More

3. Cryptocurrency Exchanges in Australia

2019-2020 Revenue Growth: 52.9%

The Cryptocurrency Exchanges industry is a new industry in Australia, established in 2012-13 to cater to rising interest in cryptocurrencies as a form of payment. The industry has since grown at a meteoric pace, albeit from a low base. Bitcoin, the largest and most well-established cryptocurrency, was created in 2009. Industry services are therefore still in the formulation phase. Industry exchanges typically earn revenue through fees paid on deposits, withdrawals and trades conducted on local exchanges. Industry operators initially generated little revenue, as cryptocurrency was still in its infancy and had a low uptake. Many local exchanges recorded operating losses... Learn More

4. Online Pet Food and Pet Supply Sales in Australia

2019-2020 Revenue Growth: 35.2%

The Online Pet Food and Pet Supply Sales industry is gradually changing as it gains traction in the wider Australian pet-care sector. While the industry includes many small niche players selling specialist pet products, larger pure-play online pet-care companies are emerging. At the same time, national pet-care chains are launching complementary ecommerce platforms and transitioning into clicks-and-mortar operations. Pet food sales are an important part of the industry. More Australian consumers are purchasing everyday goods online, and the industry is catering to this demand. Increasingly sophisticated technology and infrastructure, and convenience have drawn customers towards online purchases over the past... Learn More

5. Online Food Ordering and Delivery Platforms in Australia

2019-2020 Revenue Growth: 28.2%

Revenue growth for the Online Food Ordering and Delivery Platforms industry has been strong over the past five years. Australians are increasingly leading busy lives due to their work and family commitments, which has boosted demand for convenient meal options. Industry operators have benefited substantially from this trend, as they have filled the gap in the food delivery market. Firms facilitate deliveries of meals and food items through bookings made on their platforms. These platforms connect users of their applications with food-service providers and delivery drivers. The operations of online grocery delivery platforms, farm-to-table services, and meal kit ordering and... Learn More

6. Rice Growing in Australia

2019-2020 Revenue Growth: 24.8%

The amount of water operators in the Rice Growing industry can access influences production, as rice is a water-intensive crop. Therefore, the level of annual rainfall and water availability are key determinants of industry performance. Rice growers' reliance on rainfall is reflected in the industry's performance over the two years through 2019-20. Industry output and revenue were negligible over this period, as severe drought in the Murray-Darling Basin (the Basin), which hosts most industry establishments, forced some farmers to exit the industry. This decline follows a sharp revenue increase in 2016-17, when above-average rainfall allowed farmers to produce a bountiful... Learn More

7. Car Sharing Providers in Australia

2019-2020 Revenue Growth: 23.0%

The Car Sharing Providers industry has grown at a rapid pace over the past five years, due to rising demand for cost-efficient and convenient inner-city transport. Urbanisation trends have increased traffic congestion, which has increased competition for parking spots. Rising costs of living have also made it more difficult for consumers to purchase cars outright, reducing the appeal of car ownership. The industry has benefited from advances in mobile technology over the period, improving consumer accessibility to industry services. As a result, industry revenue is expected to grow at an annualised 21.0% over the five years through 2019-20, to reach... Learn More

8. Student Housing Management in Australia

2019-2020 Revenue Growth: 20.8%

The Student Housing Management industry has expanded rapidly over the past five years, as increased numbers of international student enrolments in Australian tertiary institutions have boosted demand. Education is now a major source of export earnings and Australia ranks second to the United States as a destination for international students. The influx of international students has supported demand for accommodation, and property developers have responded by funding new purpose-built student accommodation (PBSA). Student housing managers assist investors with tenant administration, leasing and rent collection. A large component of the industry is providing global marketing to attract international students. While industry... Learn More

9. Ridesharing Services in Australia

2019-2020 Revenue Growth: 20.8%

Operators in the Ridesharing Services industry develop and operate online platforms that connect drivers and passengers, to provide on-demand passenger transport services. Drivers in the industry operate as independent contractors. These platforms are typically accessed through smartphone apps. The industry excludes taxi companies, such as 13CABS, that provide taxi-booking services through smartphone apps alongside their traditional taxi operations. The industry also excludes UberBlack and online booking systems for hire cars and owner-drivers, such as chauffeurs. These services represent external competition to the industry.The industry has grown significantly over the past five years, as demand has increased for convenient and cost-efficient... Learn More

10. Solar Electricity Generation in Australia

2019-2020 Revenue Growth: 19.8%

The Solar Electricity Generation industry has undergone a period of immense revenue growth over the past five years. Industry revenue is expected to grow at an annualised 102.8% over the five years through 2019-20, to total $298.3 million. This growth has been driven by the development of a multitude of large-scale solar farms, which have increased industry generation capacity from less than 50 MW in 2014 to over 3600 MW in 2019. Industry generation capacity is expected to continue growing in the current year, as an increasing number of solar projects come online. Industry revenue is expected to increase by... Learn More