Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Fastest Growing Industries in Australia by Revenue Growth (%) in 2020
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View a list of the Top 25 fastest growing industries2019-2020 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
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
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
2019-2020 Revenue Growth: 21.2%
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. Rising levels of urbanisation have driven up traffic congestion, increased competition for parking spots and made it more difficult for consumers to purchase cars outright. The industry has also 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 26.2% over the five years through 2018-19, to reach $53.8 million. This includes projected growth of 22.6% in... Learn More
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
2019-2020 Revenue Growth: 16.8%
The Organic Crop Farming industry has strongly benefited from increasing consumer demand for organic food over the past five years. Organic produce, once considered an alternative food eaten only by a minority of the population, has become increasingly common in consumer diets and retail stores. Organic fruits and vegetables are often perceived as healthier than their conventionally farmed counterparts, due to the absence of chemicals and GMOs in their production. This factor has driven demand for organic fruits, vegetables, grains, nuts and herbs over the past five years. Industry revenue is expected to increase by an annualised 18.4% over the... Learn More
2019-2020 Revenue Growth: 16.5%
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 163.4% over the five years through 2018-19, to reach $583.4 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 2,400 MW in 2018. Industry generation capacity is expected to continue growing in 2018-19, as a record number of solar projects come online. Industry revenue is expected to increase by 115.7% in... Learn More
2019-2020 Revenue Growth: 15.8%
Consumers and businesses have become increasingly reliant on computers over the past five years, as new technologies have increased productivity. Greater access to broadband internet over the period has also allowed businesses and consumers to transfer larger volumes of data. The rising popularity of cloud computing has changed how businesses access and use data, as data is now often stored in off-site cloud storage centres that can be accessed anywhere in the world. This trend has enabled the rise of big data, which involves businesses analysing large amounts of personal and proprietary data for trends and insights.
The same technological advances... Learn More
2019-2020 Revenue Growth: 15.4%
The Digital Advertising Agencies industry has grown significantly over the past five years, largely due to the increasing popularity of online marketing solutions among both private and public sector organisations. Businesses have become increasingly aware that digital marketing can more effectively target their key markets than traditional print and TV mediums. Overall, industry revenue is expected to increase by an annualised 16.7% over the five years through 2018-19, to be worth $2.0 billion. This includes projected growth of 16.9% in the current year.
Over the past five years, search engine marketing (SEM) has remained the industry's dominant service. Businesses have increasingly... Learn More
2019-2020 Revenue Growth: 14.2%
Companies in the Petroleum Exploration industry provide onshore and offshore drilling and exploration services. The downstream Oil and Gas Extraction industry uses these services to establish a portfolio of future projects. Exploration-only companies identify reserves that are attractive to larger players on a contract basis. The industry's high revenue volatility over the past five years has reflected the role of commodity prices determining exploration activities, which are inherently risky and capital-intensive. Rising commodity prices assist industry players, increasing the potential benefit that exploration companies can generate by identifying unproven resources. However, funding shortages or diversified players shifting their attention to... Learn More
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