Industries in Growth Stage of Life Cycle in Australia in 2023

1. Electric Vehicle Wholesaling in Australia

2023 Units *: 42.7

The Electric Vehicle Wholesaling industry has grown rapidly over the past five years. Increased charging infrastructure availability has supported demand, as has an increased range of electric vehicle (EV) models. Rising concern about environmental issues has also assisted the industry, as consumers have sought to lower their environmental footprint. A mostly positive consumer index, which indicates households are optimistic about their financial position and more likely to make expensive purchases, has further supported this trend. Despite these factors, EVs are still unaffordable for many consumers due to their high price point, limiting their consumer market. Additionally, minimal federal and state... Learn More

2. Telehealth in Australia

2023 Units *: 37.4

Telehealth has massively expanded in Australia in the wake of the COVID-19 pandemic, growing from niche services to a multi-billion-dollar industry. This has been largely due to the significant expansion of the Medicare Benefits Schedule (MBS) to support telehealth services during the COVID-19 pandemic. In addition, patients have been more likely to use telehealth services as a means to avoid contact and minimise the possibility of contracting COVID-19.

Prior to the outbreak of COVID-19, telehealth items on the MBS were severely restricted and were generally used only in limited circumstances. However, the Federal Government temporarily expanded the MBS to include telehealth... Learn More

3. Solar Electricity Generation in Australia

2023 Units *: 30.7

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

4. Cryptocurrency Exchanges in Australia

2023 Units *: 25.6

The Cryptocurrency Exchanges industry is a new industry in Australia, establishing itself in 2012-13 to cater to rising interest in cryptocurrencies as a form of payment. Since then, the industry has grown at a meteoric pace, albeit from a very low base. Bitcoin, the largest and most well-established cryptocurrency, was created only 2009, meaning that industry services are 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, with low uptake. Many local exchanges recorded... Learn More

5. Online Consumer Electronics Sales in Australia

2023 Units *: 25.5

The prevalence of online shopping has underpinned robust industry growth. Online retailers' ability to provide consumer electronic products at a lower price point than traditional retailers enabled the industry to better withstand the global financial crisis. Online purchases of computer electronic products were viewed as a cost-effective alternative to traditional bricks-and-mortar shopping. Growth in the number of internet subscribers has supported demand for consumer electronic products such as desktops, laptops, tablets and smartphones. In addition, growth in internet subscriptions has promoted higher technological literacy among the Australian population, which has boosted the popularity of shopping online. Industry revenue is forecast... Learn More

6. Battery Material Mining in Australia

2023 Units *: 17.1

The Battery Material Mining industry has grown significantly over the past five years, as battery manufacturers have sought to lock in supply while anticipating future growth in demand. Rising demand for electric vehicles has led global automakers to offer a growing range of electric vehicles, particularly in China. The supply of battery materials has become increasingly tight over the past five years, as indicated by significant growth in the prices of lithium and cobalt. Overall, industry revenue is expected to grow at an annualised 32.6% over the five years through 2018-19, to reach $1.6 billion. This includes an expected decline... Learn More

7. Online Home Furnishing Sales in Australia

2023 Units *: 16.9

Industry operators retail a range of home furnishing products online, including curtains, blinds, shades, floor coverings and decorative accessories. The industry has sustained robust growth over the past five years, primarily boosted by generally upbeat consumer sentiment and growth in real household disposable income. The rapid growth in online connectivity has boosted the industry over the past five years, as consumers increasingly gravitated online to search for a range of home furnishing items. Industry revenue is forecast to rise by an annualised 7.7% in the five years through 2014-15. This includes a forecast growth rate of 7.9% in 2014-15, to... Learn More

8. Online Grocery Sales in Australia

2023 Units *: 16.7

The Online Grocery Sales industry has failed to achieve anything close to the scale of the online retailing sector over the past five years, but there are signs of significant growth potential. Over the five years through 2013-14, industry revenue is anticipated to rise by an annualised 11.9%, to reach $1.8 billion. Adoption of online grocery shopping has been slow, as Australian consumers have been largely satisfied with the current offering provided by bricks-and-mortar stores. The extensive networks of major supermarket chains, Coles and Woolworths, has contributed to the underdevelopment of the industry, as consumers generally live close to grocery... Learn More

9. Buy Now Pay Later in Australia

2023 Units *: 15.9

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

10. Online Sporting Apparel in Australia

2023 Units *: 15.8

The Online Sporting Apparel industry has been kicking goals over the past five years, growing rapidly on the back of the increasing consumer acceptance of online shopping. Consumers have become more computer literate over the past five years, subsequently becoming more adept at and comfortable with using the internet to purchase sporting apparel and other items. Coupled with the introduction of smartphones and tablets, which have been increasingly used for online shopping, industry revenue is forecast to rise by a compound annual 22.6% over the five years through 2014-15.

Bricks-and-mortar retailers have begun to realise the benefits of having an online... Learn More