Melbourne, Australia (PRWEB) June 23, 2012
The Scientific Research industry encompasses a broad range of government and private sector companies spanning many fields of study. The nation's scientific research firms have a heavy reliance on public funding and are increasingly required to generate own-source revenue by raising funds through co-investment with other corporations and governments, by royalty and licence revenue on intellectual property, and from donations. According to IBISWorld industry analyst Anthony Kelly, “Scientific Research industry revenue will total $5.03 billion in 2011-12, up 3.4% on the previous year”. This represents cyclical growth of an annualised 2.5% over the past five years.
Since the late 2000s, the flow of public sector funding to scientific research has been contained by the slower pace of general economic growth and the tighter allocation of spending by governments. The Scientific Research industry currently employs about 30,000 people in 3,600 establishments (consistent with 3,583 locations in June 2009). The industry has a medium level of market share concentration. The largest players in the industry include CSIRO, Australian Nuclear Science & Technology Organisation, and Geoscience Australia. Kelly adds, “the largest scientific research organisations are predominantly government funded”. Despite the dominance of the three large players, the industry comprises a large number of small scale research companies.
The Scientific Research industry is expected to enjoy a period of solid expansion underpinned by the flow of funding into environmental fields given the national and international focus on green technology. The industry is thus forecast to maintain solid growth through the next five years, including a mini-boom in government and private spending on green technology, but subdued growth in many other fields of research due to tight government budgeting conditions and the focus of corporate investment on new product development, rather than pure basic research.
For more information, visit IBISWorld’s Scientific Research report in Australia industry page.
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IBISWorld industry Report Key Topics
Companies in this industry undertake research in the agricultural, biological, physical and social sciences. The majority of funding for scientific research is provided by federal, state and territory governments.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.