Photographic and Optical Goods Manufacturing in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: September 2023
ANZSIC C2411Revenue
$284.7m
Past 5-Year Growth
Profit
$XX.Xm
Employees
919
Businesses
153
Wages
$XX.Xm
Photographic and Optical Goods Manufacturing in Australia industry analysis
The Photographic and Optical Goods Manufacturing industry has experienced a mixed performance in recent years. Government-imposed lockdowns, work stoppages and trading disruptions – all due to the COVID-19 pandemic – have primarily eroded revenue from the industry. These trends have led to significant annual fluctuations in demand from optometry and optical dispensing, a key external driver for the industry. While exports have continued to account for almost 60% of revenue, imports have remained close to 94% of domestic demand for most of the period. Combined, these factors are fuelling an annualised decline in revenue of 1.9% over the five years through 2023-24, to $284.7 million. This includes an anticipated climb of 1.6% in the current year, owing to continued demand from optometry and optical dispensing and increased public health expenditure. Further, profit margins have been up and down, and have narrowed slightly overall across the period.
Trends and Insights
- The COVID-19 pandemic has had a significant effect on demand and revenue for Australia's Photographic and Optical Goods Manufacturing industry. This has meant a gradual downwards revenue trend in recent years, despite some growth opportunities.
- Australia's Photographic and Optical Goods Industry includes firms creating specialised ophthalmic equipment. Even with a declining revenue share, this sector remains instrumental in crafting eye-care systems and precision components for advanced optics.
- New South Wales and Victoria dominate the Photographic and Optical Goods Manufacturing industry as they account for over 60% of Australia's consumer market. Businesses gravitate towards these locations to maximize accessibility to major markets, thus reducing freight and storage costs.
- Foreign competition is a major external factor facing Australia's Photographic and Optical Goods Industry. Due to high labour costs and a small domestic market, Australian firms are struggling to compete cost-effectively with cheaper imports, particularly from Asia.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $284.7m in 2023.
Trends and Insights
The Australian photographic and optical goods manufacturing industry has fared weakly in a tumultuous market
- The Australian Photographic and Optical Goods Manufacturing industry faced operational volatility over the past five years. The COVID-19 pandemic brought about trading restrictions and lockdown periods, heavily denting revenue and performance.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Revenue is set to recover
- Over the coming years, revenue for the Photographic and Optical Goods Manufacturing industry is projected to rebound and return to growth, driven by increased domestic output volumes and exports.
Biggest companies in the Photographic and Optical Goods Manufacturing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Lumibird Medical Australia Pty Ltd | 27.0 | |
Redflex Holdings | 14.4 | |
Nova Eye Medical | 13.5 |
To view the market share and analysis for all 5 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 Microscopes, telescopes, binoculars and parts, Glass and contact lenses, glasses frames and sunglasses and Cameras, projectors, and parts. Microscopes, telescopes, binoculars and parts is the largest segment of the Photographic and Optical Goods Manufacturing in Australia.
Trends and Insights
Microscopes, telescopes, binoculars and parts are zooming into success
- This segment includes manufacturers that produce microscopes, telescopes, binoculars and their associated parts. Over the past five years, this segment's contribution to revenue has grown significantly, thanks largely to increased demand for microscopes.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Tailoring and Clothing Accessories Manufacturing in Australia
Complementors
- Glass and Glass Product Manufacturing in Australia
- Optometry and Optical Dispensing in Australia
- Photographic Film Processing in Australia
International industries
- Global Consumer Electronics Manufacturing
- Copier & Optical Machinery Manufacturing in the US
- Glasses & Contact Lens Manufacturing in the US
- Glasses & Contact Lens Manufacturing in Canada
- Medical & Dental Instrument Manufacturing in the UK
Table of Contents
About this industry
Industry definition
Industry firms manufacture photographic equipment and optical instruments and equipment. The industry also includes optical lens grinders and manufacturers of ophthalmic goods such as contact lenses, sunglasses, spectacle frames and sunglass frames.
What's included in this industry?
Microscopes, telescopes, binoculars and partsGlass and contact lenses, glasses frames and sunglassesCameras, projectors, and partsOphthalmic instruments and appliancesCompanies
Lumibird Medical Australia Pty LtdRedflex HoldingsNova Eye MedicalPurchase this report to view all 5 major companies in this industry.
Related Terms
GLAUCOMALASIKORTHOKERATOLOGYOPHTHALMIC EQUIPMENTIndustry Code
ANZSIC 2411 - Photographic and Optical Goods Manufacturing 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
The COVID-19 pandemic has had a significant effect on demand and revenue for Australia's Photographic and Optical Goods Manufacturing industry. This has meant a gradual downw...
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
Australia's Photographic and Optical Goods Industry includes firms creating specialised ophthalmic equipment. Even with a declining revenue share, this sector remains instrum...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
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
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
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
New South Wales and Victoria dominate the Photographic and Optical Goods Manufacturing industry as they account for over 60% of Australia's consumer market. Businesses gravit...
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
Foreign competition is a major external factor facing Australia's Photographic and Optical Goods Industry. Due to high labour costs and a small domestic market, Australian fi...
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
Australia's Photographic and Optical Goods Manufacturing industry is mostly populated by small-to-medium sized enterprises. These firms dominate the sector due to low-income ...
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 Lumibird Medical Australia Pty Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Redflex Holdings's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Nova Eye Medical's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Lumibird Medical Australia Pty Ltd, and factors influencing its performance in the industry
- Description and key data for Redflex Holdings, and factors influencing its performance in the industry
- Description and key data for Nova Eye Medical, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
In recent years, the most significant assistance for Australia's Photographic and Optical Goods Manufacturing industry has been the JobKeeper payment scheme. This government-...
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
The key expense for Australia’s Photographic and Optical Goods Manufacturing industry lies in purchasing raw inputs – lens blanks, plastic resins and metals. These inputs are...
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 Photographic and Optical Goods Manufacturing industry in Australia in 2024?
The market size of the Photographic and Optical Goods Manufacturing industry in Australia is $284.7m in 2024.
How many businesses are there in the Photographic and Optical Goods Manufacturing in Australia industry in 2023?
There are 153 businesses in the Photographic and Optical Goods Manufacturing industry in Australia, which has grown at a CAGR of 5.0 % between 2018 and 2023.
Has the Photographic and Optical Goods Manufacturing industry in Australia grown or declined over the past 5 years?
The market size of the Photographic and Optical Goods Manufacturing industry in Australia has been declining at a CAGR of 1.9 % between 2018 and 2023.
What is the forecast growth of the Photographic and Optical Goods Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Photographic and Optical Goods Manufacturing industry in Australia is expected to grow.
What are the biggest companies in the Photographic and Optical Goods Manufacturing market in Australia?
The biggest companies operating in the Photographic and Optical Goods Manufacturing market in Australia are Lumibird Medical Australia Pty Ltd, Redflex Holdings and Nova Eye Medical
What does the Photographic and Optical Goods Manufacturing in Australia include?
Microscopes, telescopes, binoculars and parts and Glass and contact lenses, glasses frames and sunglasses are part of the Photographic and Optical Goods Manufacturing industry.
Which companies have the highest market share in the Photographic and Optical Goods Manufacturing in Australia?
The company holding the most market share in Australia is Lumibird Medical Australia Pty Ltd.
How competitive is the Photographic and Optical Goods Manufacturing industry in Australia?
The level of competition is high and increasing in the Photographic and Optical Goods Manufacturing industry in Australia.
