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. Litigation Funding in Australia

2019-2020 Revenue Growth: 46.4%

Although litigation funding has existed for over a decade, it is a comparatively new development in western legal history. Champerty, an agreement by a third party to fund a lawsuit in return for a share of the plaintiff's proceeds, has historically been outlawed. This law has been abolished throughout Australia in the past two decades, resulting in the creation of the Litigation Funding industry. Industry firms are similar to financial intermediaries, in that they source funds from capital markets to lend to customers. However, industry players invest these funds in lawsuits. As industry firms take a percentage of the settlement... 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. 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

7. 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

8. 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

9. Internet Hosting Services in Australia

2019-2020 Revenue Growth: 19.4%

The Internet Hosting Services industry runs internet servers from data centres, which host content that people can store and access through the internet. Enhanced domestic web accessibility and advancements in internet hosting technology have been the key drivers behind revenue growth over the past five years. Both businesses and government agencies have increasingly used the internet as a distribution channel for their products and services, which has boosted their operational efficiencies. The COVID-19 outbreak in early 2020 has also been a catalyst for many businesses to expand their online presence and invest in greater online services.

Industry profitability has risen over... Learn More

10. Online Large Appliance Sales in Australia

2019-2020 Revenue Growth: 17.8%

The Online Large Appliance Sales industry has performed strongly over the past five years. Australian consumers have become increasingly comfortable with purchasing products, particularly big-ticket items such as refrigerators, freezers and other large appliances, online. Steadily rising household numbers and an increase in capital expenditure on residential homes have supported demand for large appliances over the past five years. Households have also been more willing to upgrade existing appliances and purchase new equipment online. Declining real household discretionary income has constraining demand for industry products over the period. However, this trend has also encouraged more consumers to shop online in... Learn More