Key Takeaways
- In 2023, the Australian tech sector employed 1.2 million people, representing 8.5% of total employment
- Tech jobs in Australia grew by 12.4% year-on-year in 2022-2023, outpacing national average growth of 2.1%
- Software developers numbered 153,000 in Australia as of February 2023, up 15% from 2022
- Tech sector added AUD 167 billion to Australia's GDP in 2022-2023, 8% of total GDP
- Tech exports from Australia reached AUD 25.6 billion in 2022-2023, up 14%
- SaaS revenue in Australian market: AUD 12.4 billion in 2023, CAGR 18% since 2019
- Tech VC funding totalled AUD 4.2 billion in 2023, down 25% from 2022 peak
- Number of VC deals in Australian tech: 450 in 2023, avg deal size AUD 9.3M
- Late-stage funding: AUD 1.8 billion to 35 deals in 2023
- Australia had 1,200 active tech startups in 2023, up 8% from 2022
- New startups founded: 350 in 2023, highest in fintech 120
- Startup failure rate: 22% in first year for tech firms 2023 data
- AU tech firms filed 8,500 patents in 2023, 25% AI-related
- Universities produced 15,000 STEM PhDs relevant to tech since 2020, 2023 cohort 4,200
- AI research papers from AU: 12,000 published 2023, top 5 globally per capita
Australia's thriving tech industry is marked by strong employment growth and high salaries.
Employment
- In 2023, the Australian tech sector employed 1.2 million people, representing 8.5% of total employment
- Tech jobs in Australia grew by 12.4% year-on-year in 2022-2023, outpacing national average growth of 2.1%
- Software developers numbered 153,000 in Australia as of February 2023, up 15% from 2022
- Women represent 28% of the tech workforce in Australia, compared to 47% in overall workforce, per 2023 data
- Average tech salary in Australia reached AUD 128,000 in 2023, 45% above national median
- Cybersecurity professionals in Australia: 25,000 full-time equivalents in 2023, projected to grow 18% by 2026
- Tech employment in Sydney: 450,000 jobs in 2023, 38% of national tech workforce
- Melbourne tech workforce: 250,000 in 2023, with 20% annual growth in AI roles
- Brisbane's tech sector added 15,000 jobs in 2022-2023, focusing on fintech
- Perth tech employment surged 22% to 45,000 in 2023 due to mining tech demand
- Adelaide tech jobs: 35,000 in 2023, with defence tech comprising 40%
- Canberra's public sector tech roles: 60,000, 55% of local tech employment in 2023
- Tech apprenticeships in Australia: 12,500 active in 2023, up 30% from 2020
- Indigenous representation in tech: 1.2% of workforce in 2023, target 5% by 2030
- Remote tech workers in Australia: 180,000 or 15% of tech workforce in 2023 post-COVID
- Tech unemployment rate: 1.8% in 2023, below national 3.5%
- Entry-level tech roles vacancy rate: 4.2% in 2023, indicating skills shortage
- Mid-senior tech managers: 120,000 in Australia 2023, average tenure 4.2 years
- Cloud computing specialists: 45,000 employed, 25% growth 2022-2023
- Data scientists: 28,000 in 2023, 90% employed in Sydney/Melbourne
Employment Interpretation
Innovation
- AU tech firms filed 8,500 patents in 2023, 25% AI-related
- Universities produced 15,000 STEM PhDs relevant to tech since 2020, 2023 cohort 4,200
- AI research papers from AU: 12,000 published 2023, top 5 globally per capita
- Supercomputing capacity: Australia's top supercomputer ranked 28th globally in 2023
- Quantum computing investments: AUD 1 billion govt/private 2023
- 5G coverage: 85% population by end 2023
- Blockchain pilots: 150 enterprise projects in 2023
- Open source contributions from AU devs: 5.2 million commits 2023
- CSIRO innovation impact: 120 licenced techs commercialised 2023
- AR/VR startups developed 50 products adopted enterprise-wide 2023
- Digital twin projects: 200 in manufacturing 2023
- Innovation districts: 8 established, hosting 2,500 firms 2023
Innovation Interpretation
Investment
- Tech VC funding totalled AUD 4.2 billion in 2023, down 25% from 2022 peak
- Number of VC deals in Australian tech: 450 in 2023, avg deal size AUD 9.3M
- Late-stage funding: AUD 1.8 billion to 35 deals in 2023
- Seed funding: AUD 650 million across 220 startups in 2023
- Corporate VC investment: AUD 780 million in 2023, 18% of total
- Government grants to tech: AUD 1.2 billion via R&D tax incentives 2023
- Fintech funding: AUD 1.1 billion in 2023, 26% of total VC
- AI/ML startups raised AUD 850 million in 2023
- Climate tech funding: AUD 420 million in 2023, up 40%
- Healthtech VC: AUD 550 million to 45 companies 2023
- Sydney VC hubs invested AUD 2.1 billion in 2023
- Melbourne VC total: AUD 1.0 billion in 2023
- Queensland tech funding: AUD 450 million, govt matching 20%
- Female-founded startups funding: 12% share AUD 500M in 2023
- Angel investment: AUD 320 million in 2023, 150 deals
- Unicorn exits: 2 in 2023 valued AUD 15B combined
- M&A deals in tech: 120 valued AUD 5.8 billion 2023
- PE investment in tech: AUD 2.3 billion 2023
- Crowdfunding success rate: 65% for tech campaigns, AUD 180M raised 2023
Investment Interpretation
Revenue
- Tech sector added AUD 167 billion to Australia's GDP in 2022-2023, 8% of total GDP
- Tech exports from Australia reached AUD 25.6 billion in 2022-2023, up 14%
- SaaS revenue in Australian market: AUD 12.4 billion in 2023, CAGR 18% since 2019
- Fintech transaction volume: AUD 1.2 trillion processed in 2023, 22% YoY growth
- Cloud services market size: AUD 18.7 billion in FY2023, projected AUD 32B by 2027
- E-commerce tech spend: AUD 45 billion by Australian businesses in 2023
- Healthtech revenue: AUD 5.2 billion in 2023, driven by telehealth at 60% share
- Edtech market: AUD 3.8 billion in 2023, post-pandemic growth 25%
- Agritech revenue: AUD 2.1 billion in 2023, export-focused 70%
- Sydney tech firms generated AUD 85 billion revenue in 2023
- Melbourne SaaS companies: AUD 22 billion collective revenue 2023
- Brisbane digital services revenue: AUD 15 billion in 2023, fintech lead
- Tech SME revenue growth: 16.5% average in 2023, vs 4% national
- Large tech corp revenue in AU: AUD 120 billion from Google/Amazon/Microsoft 2023
- AI software revenue: AUD 4.5 billion in 2023, 35% CAGR
- Cybersecurity market: AUD 6.8 billion spend in 2023, up 20%
- IoT tech revenue: AUD 3.2 billion in 2023, industrial sector 50%
- Blockchain revenue in AU: AUD 1.1 billion 2023, mostly finance
Revenue Interpretation
Startups
- Australia had 1,200 active tech startups in 2023, up 8% from 2022
- New startups founded: 350 in 2023, highest in fintech 120
- Startup failure rate: 22% in first year for tech firms 2023 data
- Unicorns in Australia: 12 as of 2023, total value AUD 45 billion
- Scaleups (Series A+): 250 in 2023, avg revenue AUD 15M
- Fintech startups: 620 active in 2023, 45% in Sydney
- AI startups: 180 new in 2023
- SaaS startups: 450, collective ARR AUD 8B in 2023
- Deeptech startups: 95 in 2023, 70% university spinouts
- Women-led startups: 180 or 15% of total 2023
- Indigenous tech startups: 45 active, funding up 50% in 2023
- Startup accelerators: 40 programs, graduated 1,200 founders 2023
- Incubators supported 300 startups with AUD 50M in 2023
- Global expansion: 120 AU startups entered US market 2023
- Patent filings by startups: 2,500 in 2023, up 18%
- R&D spend by startups: AUD 1.8 billion in 2023, 40% tax offset claimed
Startups Interpretation
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