Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Industries with Least Risky Business Environments in Australia in 2024
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View a list of the Top 25 industries with least risky business environmentsBusiness Environment Risk for 2024: 2.91
The Multi-Unit Apartment and Townhouse Construction industry has benefited from a long-term shift in dwelling preferences away from traditional single-unit houses towards higher density apartment and townhouse construction. A surge in single-unit house construction under the Federal Government's HomeBuilder stimulus, along with adverse trends in multi-unit dwelling investment, has reversed this trend in recent years. Revenue has been decreasing at an annualised 6.8% over the past five years and is expected to total $43.6 billion in 2022-23, when revenue is estimated to inch upwards by 0.9% as the economy gradually recovers from the pandemic.
Revenue surged to an unprecedented peak in... Learn More
Business Environment Risk for 2024: 3.18
Funds management services have grown in recent years as the portion of funds sourced from overseas markets has significantly increased. Overseas markets have given fund managers access a larger asset bases, and boosted volumes of assets under management (AUM). Despite a larger international presence, fund management services revenue is expected to grow only marginally, at an annualised 0.1% through the end of 2022-23, to $11.6 billion. The COVID-19 outbreak and subsequent inflationary pressures led to significant uncertainty and volatility in financial markets and caused global economic headwinds. A wider general recovery from the pandemic's negative economic effects has benefited the... Learn More
Business Environment Risk for 2024: 3.48
As Australia looks to a cleaner future, solar power offers a bright alternative to emissions-intensive fossil fuels. Advances in solar photovoltaic (PV) technologies have made solar commercially viable, with China manufacturing most of the world's solar panels. In contrast to small-scale solar – which is covering more Australian homes than ever before – the utility-scale market remains relatively untapped. Buoyed by public sector support, private capital is now flooding into new solar projects and propelling capacity growth. Larger farms are being constructed to generate economies of scale and service industrial firms. Amid vocal consumer and shareholder support for clean energy,... Learn More
Business Environment Risk for 2024: 3.52
As all facets of society are becoming more plugged into the online world, the Cloud Storage Services industry is flourishing. Growing internet traffic is heightening the need for businesses to outsource cloud storage, leading to cloud computing's rising prominence across several channels. Cloud computing has reduced companies' in-house storage and computing costs, as companies can quickly scale capacity up or down depending on demand. Firms that opt out of cloud storage have maintained their own servers and faced the brunt of capital expenditure and utility costs. Demand for outsourced cloud storage services has skyrocketed in recent years. This trend has... Learn More
Business Environment Risk for 2024: 3.53
Australia's geographic position is ideal for space activities as Australia looks directly into the centre of the galaxy. This factor makes Australia a vital contributor to global deep space observation and communication systems. Regional Australia is ideal for industry establishments because of the lack of light pollution and radio frequency interference. Multinational space projects also operate in Australia, including large radio telescope facilities and ground station systems.
Satellite services include satellite tracking and communications telemetry, as well as operating radar stations, satellite terminal stations and associated facilities. Other communications companies are key customers for the industry. Despite new space technology's heightened... Learn More
Business Environment Risk for 2024: 3.56
The Prefabricated Wooden Building Manufacturing industry faces fierce competition from prefabricated buildings manufactured using metal, PVC and fibre cement and substitution by traditional on-site building construction. Incremental improvements in technology and design help the industry capture an increased share of the total building market. Manufacturers have faced fluctuations in the downstream household, building and tourism markets. Still, industry revenue is expected to climb at an annualised 4.5% over the past five years to reach $529.0 million in 2023-24.
In recent years, growth in capital expenditure on non-residential building construction has underpinned sales of relocatable buildings like modular classrooms, pop-up kiosks and... Learn More
Business Environment Risk for 2024: 3.58
The Pharmaceuticals Packing and Labelling Services industry's performance is closely linked to that of upstream pharmaceutical manufacturing operations. Industry operators have continued to benefit from manufacturers perceiving pharmaceutical packaging as integral to the drug delivery system. As competition has increased and life cycles have shortened for pharmaceutical manufacturers, pharmaceutical companies have increasingly used packaging to differentiate their products. Continuous development of innovative pharmaceutical products such as self-administered drug delivery devices is also driving demand for new pharmaceutical packaging products. Industry operators have also benefited from rapid technological change within the wider packaging sector.
Industry revenue is expected to grow by an... Learn More
Business Environment Risk for 2024: 3.65
Performance in the Money Market Dealers industry has been taking a hit. Overall turnover volume has dropped, and corporate dept securities issuance declined after the COVID-19 outbreak. The RBA introduced the Term Funding Facility (TFF) in March 2020, which has provided authorised deposit-taking institutions (ADIs) with low-cost fixed-rate funding for three years. ADIs have been opting for longer-term options over short-term debt securities because of this funding, which has dampened industry performance. Revenue is expected to fall at an annualised 2.4% to $6.3 billion over the five years through 2022-23, and profit margins are also set to contract. This trend... Learn More
Business Environment Risk for 2024: 3.68
The Software Publishing industry has had strong growth, which rising online connectivity and the emergence of new technology have supported. The COVID-19 pandemic did little to slow the industry's expansion, as mounting demand for software to help with remote working and other business technology offset dwindling demand from struggling businesses. Industry revenue has climbed at an annualised 7.7% to $5.4 billion over the five years to 2022-23, including a drop of 4.2% in the current year because of falling household discretionary income. More publishers have been adopting the Software as a Service (SaaS) distribution model. The model creates a steadier... Learn More
Business Environment Risk for 2024: 3.70
The Veterinary Services industry has performed well over the past five years. A surge in pet ownership in response to the COVID-19 pandemic, higher pet insurance uptake, growing awareness of animal health, and the increasing availability of advanced surgical and diagnostic procedures for animals have benefited the veterinarians. Pet owners are becoming increasingly willing to spend more on pets and vet procedures to prolong their lives. This is also partly due to an increase in the number of high income earners across the economy.
Veterinary services revenue surged in 2020-21 and 2021-22, with more households purchasing companion animals in response to... Learn More
Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Most Profitable Industries in Australia in 2024
VIEW ARTICLEBased 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 2024
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