Online information services and mobile telecommunications are two of the Australian industries pegged for high revenue growth over the next year.
IBISWorld has just released its annual list of the top five industries expected to have the highest growth rates during the 2010-2011 financial year. Organic farming heads the list, followed by online information services, insurance brokerages, mobile telecommunications carriers and alternative health therapies.
According to the group, an increase in the use of mobile devices such as smartphones and the iPad will lead to an even greater surge in Australian’s demand for online information. They estimate an 8.7 per cent growth in revenue in the next 12 months in online services. In response to the global financial crisis, an increasing demand for financial information will also contribute to growth in this area.
Mobile telecommunications are also projected to return significant revenue growth, reflecting the demand for mobile internet data subscriptions. Smartphones were singled out as a major contributor to the anticipated 6.9 percent revenue growth IBISWorld expects in the upcoming year.
Bringing up the rear, the report lists grape growing, video hire outlets, paper manufacturing, wired telecommunication services and insulation services as industries with the worst revenue projections for the upcoming year.
