Dec 06 2016
As thousands of school leavers across the country evaluate whether to pursue further education, vocational education and apprenticeships, or full-time employment in light of their high school exam results, IBISWorld has revealed the key industries tipped to enjoy employment growth over the coming years.
Demand for technology
The Online Shopping industry is expected to be a major source of jobs growth, with IBISWorld research revealing that establishment numbers are set to rise by an annualised 7.5% over the next five years, especially with bricks-and-mortar retailers investing in comprehensive online platforms to complement traditional sales. This is good news for point of sales technicians, web and UX designers, and digital marketing coordinators. IBISWorld expects employment in this field to grow by an annualised 7.5% over the next five years, and revenue is anticipated to increase by 9.4% over the same period. “Warehouse and distribution coordinators are likely to be especially sought after,” said IBISWorld Senior Industry Analyst, Nathan Cloutman.
With projected employment growth of an annualised 6.0% over the next five years and revenue growth exceeding 8% each year through to 2021-22, the IT Security Consultingindustry is projected to employ 22,193 professionals by 2021-22 on the back of surging demand for digital security, counter-threat technologies, artificial intelligence software and the NBN rollout.
Data Storage Services is identified as having solid employment growth of 5.9% over the same time frame, due to the NBN rollout and increasing use of cloud storage. “Surging demand for online data storage solutions is forecast to drive the number of enterprises entering this industry,” explained Nathan Cloutman. “This is positive news for cloud management consultants, data centre managers, storage design consultants and storage engineers.”
The Smartphone App Developers industry will likely enjoy revenue growth of an annualised 10.6% over the five years through 2021-22, with employment growth at a steady annualised 2.2%. “We’re likely to see many more enterprises join this industry, with low barriers to entry for new players keen to capitalise on emerging smartphone technologies that would benefit from having related apps. The combination of revenue and enterprise growth will drive demand for IT professionals, particularly those with expertise in app-related technologies,” said Nathan Cloutman.
“Sports Administrative Services will be another growth area (with revenue growing at an annualised 4.3% over the next five years), and while not nearly as glamorous as the professional sports star dream some school leavers may have, it’s a more secure career path for most,” said Nathan Cloutman. The expansion activities of major sports leagues in Australia are driving further participation at the local level, boosting industry revenue generated through competition fees.
Increasing demand for fitness centres and gyms is also expected to prompt the opening of many establishments in the Physiotherapy Services industry across Australia. According to IBISWorld data, enterprise and employment figures are both anticipated to grow over the next five years, at an annualised 1.7% and 2.0%, respectively. “The need for additional auxiliary staff, not just qualified physiotherapists, is expected to drive employment growth,” said Nathan Cloutman.
IBISWorld expects government support for innovation to remain strong over the next five years, creating growth as companies demand intellectual property legal services to protect the results of their research and development. “This continued support of key downstream industries should boost participation and employment to meet demand, especially in the Trademark and Patent Lawyers and Attorneys industry. In this industry, we anticipate that employment will grow by an annualised 2.5% over the next five years,” said Nathan Cloutman.
Incentives to generate electricity using renewable energy sources is likely to drive rising enterprise and establishment numbers in the Wind and Other Electricity Generationindustry over the next five years, which will benefit employment numbers. IBISWorld expects employment in this industry to grow by an annualised 2.1% over the five years through 2021-22, with revenue rising by an annualised 3.9% over the same period.
Mr Cloutman expects demand for the Management Consulting industry to grow throughout the forecast period on the back of increased private capital expenditure, as companies seek advice before committing to acquisitions or capital purchases. “Rising demand for management consultants is also expected from the public sector, as governments at all levels continue to outsource projects to consulting firms to make use of their expertise. Annualised employment growth in this industry is expected at 1.5% over the next five years,” said Nathan Cloutman.
Ongoing work on major road and tunnel developments is forecast to underpin employment growth in the Road and Bridge Construction industry, especially for qualified engineers. Melbourne’s proposed Western Distributor toll road project will likely be a key driver of construction-related jobs growth in Victoria. “Even so, employment in this industry is anticipated to rise by an annualised 0.7 % over the five years through 2021-22, which represents limited growth,” he added.
Industry reports used to develop this release:
IT Security Consulting
Data Storage Services
Smartphone App Developers
Road and Bridge Construction
Wind and Other Electricity Generation
Trademark and Patent Lawyers and Attorneys
Sports Administrative Services
For more information, to obtain industry reports or to speak with an analyst, please contact:
Anne Wild / Shae Courtney
IBISWorld Media Relations Representatives – Anne Wild & Associates Pty Ltd
Tel: (02) 9440 0414
Mobile: 0420 736 136