From fueling one in twelve dollars of Australia's economic activity to creating a new tech job every ten minutes, the nation's digital engine isn't just humming—it's roaring, and this deep dive into the numbers reveals an industry transforming the continent at breathtaking speed.
Key Takeaways
- The Australian tech sector contributed $167 billion to GDP in 2023, representing 8.1% of national GDP
- Australia's digital economy grew by 8.5% year-on-year in 2022-23 to reach $120 billion
- The tech industry's revenue reached $240 billion in FY2023, up 12% from previous year
- The Australian tech workforce totals 1.2 million people as of 2023
- Tech employment grew 4.8% YoY in 2023, adding 55,000 jobs
- 55% of tech workers in NSW, totaling 660,000 in 2023
- Australia's VC investment in tech reached $4.2 billion in 2023
- 1,250 tech funding deals in 2023, up 5% YoY
- Sydney captured 45% of national tech VC at $1.9b in 2023
- Australia has 12,000 active tech startups as of 2023
- 850 new tech startups founded in 2023
- R&D spend by tech firms $12.5 billion in 2023
- Australian digital exports totaled $38 billion in 2023
- US is top market for AU tech exports at $12b 2023
- UK tech service imports from AU $6.5b 2023
The Australian tech industry is a large and rapidly growing sector driving economic growth.
Employment & Skills
- The Australian tech workforce totals 1.2 million people as of 2023
- Tech employment grew 4.8% YoY in 2023, adding 55,000 jobs
- 55% of tech workers in NSW, totaling 660,000 in 2023
- Victoria has 250,000 tech employees, 21% of total
- Queensland tech jobs 120,000 in 2023, growth 6%
- 65,000 women in tech roles, 12% of workforce 2023
- Average tech salary $145,000 AUD in 2023
- 28% of tech workers aged 25-34 in 2023
- STEM graduates entering tech: 45,000 annually 2023
- Tech unemployment rate 2.1% in 2023, below national 4%
- 15% increase in tech apprenticeships to 12,000 in 2023
- Indigenous representation in tech 1.2% or 14,400 workers 2023
- Remote tech workers 22% of total, up from 12% pre-COVID
- Software developers: 280,000 employed 2023
- Cybersecurity specialists: 35,000 jobs 2023
- Data scientists: 48,000 in Australia 2023
- Cloud architects: 22,000 professionals 2023
- 42% of tech firms report skills shortage in AI/ML 2023
- Upskilling programs trained 150,000 tech workers 2023
- Tech roles in SMEs: 450,000 employees 2023
- Female STEM grads in tech: 25,000 p.a. 2023
- Migrant tech workers 32% of total 2023
- Tech job ads up 18% YoY to 250,000 in 2023
- Entry-level tech positions 65,000 filled 2023
- Senior execs in tech: 18,000 roles 2023
- Tech employment in fintech 75,000 2023
Employment & Skills Interpretation
Australia's tech industry is a high-octane engine of soaring salaries and booming jobs, but it's still running rich on a stubbornly narrow talent pool, leaving glaring gaps in its rearview mirror.
Exports & Infrastructure
- Australian digital exports totaled $38 billion in 2023
- US is top market for AU tech exports at $12b 2023
- UK tech service imports from AU $6.5b 2023
- Singapore AU tech exports $4.2b 2023
- 5G coverage reached 85% population 2023
- NBN connections 8.5 million premises 2023
- Data centre capacity 1.2 GW in AU 2023
- Subsea cable landings 25 active boosting exports 2023
- Tech exports growth 16% YoY to Asia $15b 2023
- Cloud export services $22b 2023
- Cybersecurity exports $3.1b 2023
- Software exports $28b 2023
- Fibre broadband penetration 92% households 2023
- Edge computing nodes 450 deployed 2023
- Renewable energy in data centres 45% 2023
- International bandwidth capacity 150 Tbps 2023
- Tech FDI inflows $15b 2023
- EU digital trade surplus with AU $2.8b 2023
- Mobile internet users 25 million 2023
- IPv6 adoption 55% in AU networks 2023
- Satellite broadband exports via Starlink partnerships $1.2b 2023
- Digital trade agreements covered 65% exports 2023
- Hyperscale data centres 18 operational 2023
- Rural broadband access 88% improved exports 2023
- Tech services to NZ $5.1b 2023
- Blockchain export platforms used in 40 countries 2023
Exports & Infrastructure Interpretation
Australia has masterfully transformed from a land down under into a digital export powerhouse, cleverly wiring the outback and shipping its cloud, code, and cyber savvy to a planet that's increasingly, and profitably, online.
Innovation & R&D
- Australia has 12,000 active tech startups as of 2023
- 850 new tech startups founded in 2023
- R&D spend by tech firms $12.5 billion in 2023
- Patents filed in ICT by Australians: 4,200 in 2023
- CSIRO tech innovations commercialized 250 in 2023
- University tech spinouts 120 funded 2023
- AI research papers from AU: 2,500 published 2023
- Quantum computing investments led to 15 prototypes 2023
- Open source contributions from AU devs top 1.2m commits 2023
- Hackathon winners commercialized 45 projects 2023
- Blockchain pilots by enterprises 180 in 2023
- Robotics startups innovated 65 new products 2023
- Agritech R&D projects 320 funded $450m 2023
- Medtech innovations patented 1,100 2023
- 5G use cases developed 200+ by telcos 2023
- Clean energy tech breakthroughs 90 licensed 2023
- Innovation hubs hosted 5,000 researchers 2023
- Tech accelerators graduated 450 startups 2023
- Female-led innovation teams 22% of grants 2023
- Deep tech prototypes 320 tested 2023
- Digital twin projects in manufacturing 150 deployed 2023
- Space tech satellites launched by AU firms 12 in 2023
- EdTech innovations adopted in 85% schools 2023
- Fintech patents 650 filed 2023
- Collaborative R&D consortia 75 active 2023
- Tech incubators supported 1,200 early-stage ideas 2023
- Australia filed 5,200 ICT patents internationally 2023
Innovation & R&D Interpretation
While Australia’s tech landscape hums with an impressive and growing din of ideas—from AI papers and quantum prototypes to a mountain of open-source commits—the real story is a serious, hard-won transformation from clever prototypes into commercialized innovations, patents, and real-world impact.
Investment & Funding
- Australia's VC investment in tech reached $4.2 billion in 2023
- 1,250 tech funding deals in 2023, up 5% YoY
- Sydney captured 45% of national tech VC at $1.9b in 2023
- Melbourne VC funding $950 million for tech startups 2023
- Deep tech investments $1.1 billion across 120 deals 2023
- Fintech funding $850 million in 2023
- AI startups raised $650 million 2023
- Climate tech VC $420 million 2023
- Series A average deal size $8.5 million in tech 2023
- Corporate VC participation 22% of deals, $900m total 2023
- Angel investments in tech $250 million 2023
- Government grants to tech $1.2 billion via R&D tax incentive 2023
- Unicorn count reached 12 tech firms valued over $1b 2023
- Late-stage funding $1.8 billion 2023
- Seed funding rounds 650, total $450m 2023
- Female-founded startups 18% of funded, $320m raised 2023
- Biotech tech crossover funding $550m 2023
- SaaS funding $1.4 billion 2023
- Hardware tech investments $180m 2023
- Exit values from tech M&A $6.5 billion 2023
- Crowdfunding platforms raised $95m for tech 2023
- Super funds invested $2.1b in tech PE/VC 2023
- Overseas VC into AU tech $2.8b, 67% of total 2023
- Gaming startups funding $210m 2023
- Proptech investments $340m 2023
Investment & Funding Interpretation
Australia's tech sector in 2023 wasn't just playing a strong hand, it was strategically drawing the future with over $4 billion in venture capital, where Sydney and Melbourne commanded the lion's share, deep tech and AI proved they're serious bets, and everyone from super funds to overseas investors decided the table was definitely worth a seat.
Market Size & Growth
- The Australian tech sector contributed $167 billion to GDP in 2023, representing 8.1% of national GDP
- Australia's digital economy grew by 8.5% year-on-year in 2022-23 to reach $120 billion
- The tech industry's revenue reached $240 billion in FY2023, up 12% from previous year
- SaaS market in Australia valued at $12.5 billion in 2023, projected to grow to $18 billion by 2027
- Fintech sector market size hit $5.8 billion in 2023
- Australia's cybersecurity market was worth $6.2 billion in 2023, growing 14% annually
- Cloud computing market in Australia reached $14 billion in 2023
- AI market size in Australia stood at $2.1 billion in 2023, expected CAGR 28%
- EdTech sector valued at $3.4 billion in 2023
- HealthTech market in Australia was $4.7 billion in 2023
- Tech sector output grew 9.2% in NSW alone in 2023 to $85 billion
- Victoria's tech industry generated $45 billion in revenue 2023
- Queensland tech market size $28 billion in FY2023, up 11%
- SA digital economy $12 billion in 2023
- WA tech sector revenue $18 billion 2023
- Tasmania's tech output $3.5 billion 2023
- ACT tech industry $10 billion contribution 2023
- NT digital sector $2.8 billion 2023
- Tech sector CAGR 10.2% from 2018-2023
- Digital services exports grew 15% to $35 billion in 2023
- Overall digital economy 6.4% of GDP in 2023
- Tech manufacturing output $15 billion 2023
- Software publishing revenue $55 billion FY2023
- IT services market $85 billion 2023
- Big Data market $1.8 billion Australia 2023
- IoT market size $4.2 billion 2023
- Blockchain market $0.9 billion 2023
- AR/VR market $1.1 billion 2023
- 5G infrastructure spend $7 billion cumulative to 2023
- Tech retail e-commerce $42 billion 2023
Market Size & Growth Interpretation
With its GDP contribution now cruising past that of a luxury superyacht fleet, Australia's tech sector has decisively traded its sunscreen for servers, proving that the nation's most valuable export might just be its ambition, one rapidly scaling SaaS startup at a time.
Sources & References
- Reference 1TECHCOUNCILtechcouncil.com.auVisit source
- Reference 2INDUSTRYindustry.gov.auVisit source
- Reference 3IBISWORLDibisworld.comVisit source
- Reference 4STATISTAstatista.comVisit source
- Reference 5DELOITTEwww2.deloitte.comVisit source
- Reference 6MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 7GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 8PRECEDENCERESEARCHprecedenceresearch.comVisit source
- Reference 9HOLONIQholoniq.comVisit source
- Reference 10FROSTfrost.comVisit source
- Reference 11NSWnsw.gov.auVisit source
- Reference 12VICvic.gov.auVisit source
- Reference 13STATEDEVELOPMENTstatedevelopment.qld.gov.auVisit source
- Reference 14INVESTSAinvestsa.com.auVisit source
- Reference 15WAwa.gov.auVisit source
- Reference 16BUSINESSbusiness.tas.gov.auVisit source
- Reference 17ACTact.gov.auVisit source
- Reference 18INDUSTRYindustry.nt.gov.auVisit source
- Reference 19KPMGkpmg.comVisit source
- Reference 20AUSTRADEaustrade.gov.auVisit source
- Reference 21ABSabs.gov.auVisit source
- Reference 22GARTNERgartner.comVisit source
- Reference 23IDCidc.comVisit source
- Reference 24ANALYSYSMASONanalysysmason.comVisit source
- Reference 25STATEMENTSstatements.qld.gov.auVisit source
- Reference 26WOMENINTECHwomenintech.org.auVisit source
- Reference 27SEEKseek.com.auVisit source
- Reference 28EDUCATIONeducation.gov.auVisit source
- Reference 29DEWRdewr.gov.auVisit source
- Reference 30INDIGENOUSDIGITALindigenousdigital.org.auVisit source
- Reference 31FLEXAflexa.careersVisit source
- Reference 32ACSCacsc.gov.auVisit source
- Reference 33TURNERANDTOWNSENDturnerandtownsend.comVisit source
- Reference 34DESEdese.gov.auVisit source
- Reference 35SCIENCEscience.org.auVisit source
- Reference 36HOMEAFFAIRShomeaffairs.gov.auVisit source
- Reference 37INDEEDindeed.comVisit source
- Reference 38GRADCONNECTIONgradconnection.comVisit source
- Reference 39HAYShays.com.auVisit source
- Reference 40FINTECHALLIANCEfintechalliance.com.auVisit source
- Reference 41CRUNCHBASEcrunchbase.comVisit source
- Reference 42SMARTCOMPANYsmartcompany.com.auVisit source
- Reference 43SVBsvb.comVisit source
- Reference 44LAUNCHVIClaunchvic.orgVisit source
- Reference 45CSIROcsiro.auVisit source
- Reference 46FINTECHNEWSfintechnews.com.auVisit source
- Reference 47CRNcrn.com.auVisit source
- Reference 48BLACKBIRDblackbird.vcVisit source
- Reference 49GALLANTCROWDgallantcrowd.comVisit source
- Reference 50PWCpwc.com.auVisit source
- Reference 51ANGELASSOCIATIONAUSTRALIAangelassociationaustralia.comVisit source
- Reference 52CVCAcvca.com.auVisit source
- Reference 53CUTTHROUGHcutthrough.vcVisit source
- Reference 54SQUAREHOLESsquareholes.com.auVisit source
- Reference 55AUSBIOTECHausbiotech.orgVisit source
- Reference 56SAASWORTHsaasworth.comVisit source
- Reference 57YCOMBINATORycombinator.comVisit source
- Reference 58CORRScorrs.com.auVisit source
- Reference 59EQUITYCROWDequitycrowd.com.auVisit source
- Reference 60ASFAasfa.com.auVisit source
- Reference 61IGAiga.net.auVisit source
- Reference 62PROPTECHproptech.org.auVisit source
- Reference 63STARTUPAUSstartupaus.org.auVisit source
- Reference 64IPAUSTRALIAipaustralia.gov.auVisit source
- Reference 65UINNOVATIONuinnovation.gov.auVisit source
- Reference 66SCIMAGOJRscimagojr.comVisit source
- Reference 67SILICONQUANTUMsiliconquantum.comVisit source
- Reference 68GITHUBgithub.comVisit source
- Reference 69HACKATHONAUSTRALIAhackathonaustralia.com.auVisit source
- Reference 70ROBOTICSAUSTRALIAroboticsaustralia.orgVisit source
- Reference 71AGRICULTUREagriculture.gov.auVisit source
- Reference 72TGAtga.gov.auVisit source
- Reference 73GSMAgsma.comVisit source
- Reference 74ARENAarena.gov.auVisit source
- Reference 75INCITEincite.org.auVisit source
- Reference 76STARTMATEstartmate.com.auVisit source
- Reference 77ARCarc.gov.auVisit source
- Reference 78MAINSEQUENCEmainsequence.vcVisit source
- Reference 79MANUFACTURINGmanufacturing.gov.auVisit source
- Reference 80ASAasa.gov.auVisit source
- Reference 81CRDCcrdc.com.auVisit source
- Reference 82ENTREPRENEURSPROGRAMentrepreneursprogram.com.auVisit source
- Reference 83WIPOwipo.intVisit source
- Reference 84UKAUSTRADEukaustrade.org.ukVisit source
- Reference 85ENTERPRISESGenterprisesg.gov.auVisit source
- Reference 86ACMAacma.gov.auVisit source
- Reference 87NBNCOnbnco.com.auVisit source
- Reference 88STRUCTUREstructure.com.auVisit source
- Reference 89SUBMARINECABLEMAPsubmarinecablemap.comVisit source
- Reference 90DFATdfat.gov.auVisit source
- Reference 91OECDoecd.orgVisit source
- Reference 92CLEANENERGYREGULATORcleanenergyregulator.gov.auVisit source
- Reference 93APNICapnic.netVisit source
- Reference 94FDIINTELLIGENCEfdiintelligence.comVisit source
- Reference 95ECec.europa.euVisit source
- Reference 96COMMSDAYcommsday.com.auVisit source
- Reference 97COMMUNICATIONScommunications.gov.auVisit source
- Reference 98MBIEmbie.govt.nzVisit source