Credit Agencies in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: June 2023
ANZSIC N7293bRevenue
$764.5m
Past 5-Year Growth
Profit
$XXX.Xm
Employees
1,477
Businesses
217
Wages
$XXX.Xm
Credit Agencies in Australia industry analysis
Demand conditions tend to remain relatively stable for the Credit Agencies industry. During periods of economic growth, credit agencies can benefit from individuals' and businesses' improved capacity for taking on new debt and investing in assets. On the other hand, client companies tend to need more extensive credit checks on customers and businesses when economic conditions take a hit, which also generates demand for credit agencies' services. Despite this relative stability, volatile conditions following the COVID-19 outbreak have cut into credit agencies' performance. The amount of equity capital raising and the household debt to assets ratio have fallen over the past few years. Higher interest rates have made households and businesses less likely to invest, which has also slowed growth in housing transfer numbers. These conditions have caused revenue to contract by an annualised 1.6% to $764.5 million over the five years through 2023-24. This trend includes strong growth of 5.1% in 2023-24, as strong recovery in equity capital raising and continued rises in business bankruptcies mitigate falling revenue by generating demand for credit checks.As economic conditions improve and inflationary pressures start to ease in the coming years, industry revenue is on track to return to modest growth. Asset-backed securities are set to appreciate in value, generating new securitisation patterns – particularly for commercial assets like corporate obligations. Real estate and debt products will be a notable target for financial institutions, generating demand for rating and other assessment services. Technological advancement will also improve operating efficiencies for credit agencies, as greater capacity and efficiency for managing and delivering credit reports will streamline large companies' operations. Even though these trends will benefit credit agencies and expand profit margins, revenue growth is set to remain mild. In particular, a rising national unemployment rate, falling business bankruptcies and continuously rising barriers to entry will prevent significant expansion within the industry. Overall, revenue is forecast to lift at an annualised 0.2% to $773.9 million over the five years through 2028-29.
Trends and Insights
- Climbing unemployment negatively influenced the industry. Households have been less willing to take on new debt, making it more difficult for agencies to expand.
- Demand for consumer credit reporting has been on the rise. A growing population has fuelled elevated housing transfer numbers, even though high interest rates have constrained growth.
- Population distribution is an important predictor of where credit agencies are located. That’s why many agencies set up shop in New South Wales, Victoria and Queensland.
- Many firms that seek out credit agencies’ services use data from several different agencies. Therefore, internal competition is mostly based on reputation and professional connections.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.6 % over the past five years, to reach an estimated $764.5m in 2023.
Trends and Insights
Challenging conditions have dampened revenue growth
- Aside from general economic conditions, many factors influence performance within the Credit Agencies industry, including the number of housing transfers, business bankruptcies, debt uptake and unemployment.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growing household demand is on track to elevate profitability
- While business bankruptcies are set to fall because of improving financial circumstances and business profit, other factors will enable revenue growth to remain stable. For example, housing transfers are on track to rise due to an expanding population. Demand for credit ratings will likely grow as a result, fuelling revenue rises.
Biggest companies in the Credit Agencies in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Equifax Australia Holdings | 367.2 | |
S&P Global Australia | 126.8 | |
illion Australia | 122.3 |
To view the market share and analysis for all 8 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Consumer credit reporting, Commercial credit reporting and Corporate and sovereign credit ratings. Consumer credit reporting is the largest segment of the Credit Agencies in Australia.
Trends and Insights
Rising housing transfer numbers have benefited the consumer credit reporting segment
- Consumer reporting agencies provide personal credit rating services. In Australia, Equifax Australia Holdings Pty Ltd and illion Australia Pty Ltd (formerly Dun & Bradstreet) are the largest personal credit rating agencies.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Credit Unions and Building Societies in Australia
- Debt Collection in Australia
- National and Regional Commercial Banks in Australia
- Foreign Banks in Australia
International industries
- Credit Bureaus & Rating Agencies in the US
- Credit Reporting and Debt Collection Services in New Zealand
- Credit Bureaux & Rating Agencies in the UK
Table of Contents
About this industry
Industry definition
The industry provides independent opinions about the creditworthiness of companies, individuals, securities or financial obligations. A credit bureau (or consumer credit reporting agency) provides opinions about an individual’s creditworthiness. A credit rating agency assigns a credit rating for a particular issue of debt and evaluates the overall creditworthiness of the issuing entity.
What's included in this industry?
Commercial credit reportingConsumer credit reportingCredit investigation servicesCredit rating servicesCredit reportingCompanies
Equifax Australia HoldingsS&P Global Australiaillion AustraliaPurchase this report to view all 8 major companies in this industry.
Related Terms
CREDIT RATINGDEBT ISSUANCEBONDIndustry Code
ANZSIC 7293 - Credit Agencies in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Climbing unemployment negatively influenced the industry. Households have been less willing to take on new debt, making it more difficult for agencies to expand.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Demand for consumer credit reporting has been on the rise. A growing population has fuelled elevated housing transfer numbers, even though high interest rates have constraine...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Population distribution is an important predictor of where credit agencies are located. That’s why many agencies set up shop in New South Wales, Victoria and Queensland.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Many firms that seek out credit agencies’ services use data from several different agencies. Therefore, internal competition is mostly based on reputation and professional co...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Equifax has been expanding its market share through acquiring other companies. It acquired Creditworks in 2021, enabling it to broaden its economies of scale and automation c...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Equifax Australia Holdings's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of S&P Global Australia's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of illion Australia's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 5 additional companies
Detailed analysis
- Description and key data for Equifax Australia Holdings, and factors influencing its performance in the industry
- Description and key data for S&P Global Australia, and factors influencing its performance in the industry
- Description and key data for illion Australia, and factors influencing its performance in the industry
- Description, key data and performance trends for 5 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Credit agencies must adhere to various regulations relating to data privacy. Membership with an external dispute resolution (EDR) scheme is also mandatory for participating i...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Credit agencies have been using technology and automation to improve their operational efficiencies. Improved efficiencies and the ability to charge higher prices have facili...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Credit Agencies industry in Australia in 2024?
The market size of the Credit Agencies industry in Australia is $764.5m in 2024.
How many businesses are there in the Credit Agencies in Australia industry in 2023?
There are 217 businesses in the Credit Agencies industry in Australia, which has grown at a CAGR of 0.9 % between 2018 and 2023.
Has the Credit Agencies industry in Australia grown or declined over the past 5 years?
The market size of the Credit Agencies industry in Australia has been declining at a CAGR of 1.6 % between 2018 and 2023.
What is the forecast growth of the Credit Agencies industry in Australia over the next 5 years?
Over the next five years, the Credit Agencies industry in Australia is expected to grow.
What are the biggest companies in the Credit Agencies market in Australia?
The biggest companies operating in the Credit Agencies market in Australia are Equifax Australia Holdings, S&P Global Australia and illion Australia
What does the Credit Agencies in Australia include?
Commercial credit reporting and Consumer credit reporting are part of the Credit Agencies industry.
Which companies have the highest market share in the Credit Agencies in Australia?
The company holding the most market share in Australia is Equifax Australia Holdings.
How competitive is the Credit Agencies industry in Australia?
The level of competition is moderate and increasing in the Credit Agencies industry in Australia.
