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Australia AI market Size, Share, Trends, Analysis, Growth: By Type: Customizable AI, AI Marketplaces, Pretrained Models, Edge AI; By Component: Software, Service, Hardware; By Deployment Mode: Cloud, On-premises; By Business Function; By Technology; By Enterprise Size; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Australia AI market Outlook
The Australia AI market size was valued at USD 5.36 million in 2023. The market is further projected to grow at a CAGR of 16.60% between 2024 and 2032, reaching a value of USD 21.11 million by 2032.
Key Takeaways
- By 2030, integrating automation technologies could contribute an additional USD 170 to USD 600 billion annually to Australia’s Gross Domestic Product, as estimated by management consultancy firm McKinsey.
- The number of businesses in the Australian AI market has been growing at an average rate of 9.4% annually between 2018 and 2023.
- Approximately 9.5% of large Australian enterprises (those with more than 200 staff members) officially use AI.
The rise of emerging technologies like AI provides operational benefits to businesses by boosting revenue, improving cyber safety and security, enhancing customer experiences through automation, and optimising supply chain management. Additionally, AI adoption can lead to increased productivity improved GDP, and Australia AI market growth.
Moreover, the integration of robotics and automation with AI technologies presents opportunities for streamlining processes, improving decision-making, and driving digital transformation across industries. For example, the integration of AI in the hiring process transforms how companies screen resumes, assess candidate fit, and conduct interviews, which enhances efficiency in candidate screening, reduces bias, and offers insights for better decision-making in recruitment.
The Australia AI market share is forecasted to grow significantly due to increasing adoption of AI solutions across various sector, which can drive economic growth, job creation, and innovation within the AI ecosystem. For example, the IT and telecommunication sector leverages AI technologies for data analysis, network optimisation, customer service automation, and cybersecurity applications. In BFSI, AI is utilised for fraud detection, risk assessment, banking services, algorithmic trading, and customer relationship management. The automotive industry integrates AI for autonomous driving systems, predictive maintenance, vehicle diagnostics, smart manufacturing processes, and enhanced driver assistance features.
In agriculture, AI applications include precision farming techniques like crop monitoring systems, yield prediction models, soil analysis tools, livestock monitoring solutions, and autonomous farming equipment. For example, Agbot II, a robot developed by the Queensland University of Technology, helps save the agricultural sector USD 1.3 billion annually by boosting agricultural productivity, including automating weed removal.
Additionally, in healthcare, AI is used for medical imaging analysis, patient diagnosis support systems, drug discovery research, treatment plans, and improving healthcare management. The education sector adopts AI for personalised learning experiences, student performance analytics, virtual tutoring systems, administrative tasks automation, and curriculum development.
Market Segmentation
Australia AI Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Customisable AI
- AI Marketplaces
- Pretrained Models
- Edge AI
Market Breakup by Component
- Software
- Service
- Hardware
Market Breakup by Deployment Mode
- Cloud
- On-premises
Market Breakup by Business Function
- Supply Chain Management
- Finance and Accounting
- Sales and Marketing
- Cybersecurity
- Operations
- Human Resource Management
- Legal and Compliance
Market Breakup by Technology
- Generative AI
- Natural Language Processing
- Deep Learning
- Machine Learning
- Computer Vision
- Others
Market Breakup by Enterprise Size
- Small and Medium-sized Enterprise
- Large Enterprise
Market Breakup by End Use
- Manufacturing
- IT and Telecommunication
- BFSI
- Automotive
- Healthcare
- Education
- Media and Entertainment
- Agriculture
- Retail and E-commerce
Market Breakup by Region
- South Wales
- Victoria
- Queensland
- Western Australia
- Australian Capital Territory
- Others
Competitive Landscape
Market players are focused on providing advanced AI solutions across industries to stay ahead in the competition.
- Accenture PLC
- Solentive Systems Pty Ltd.
- Telexar Technologies Pty Ltd.
- Atlasopen
- Daisee Pty Ltd.
- Remi Investing Pty Ltd
- LexX Technologies Pty Ltd.
- Red Marble AI Pty Ltd.
- CANOPY CREATIVE CORP PTY LTD
- Kyndryl Australia Pty Ltd.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Component |
|
| Breakup by Deployment Mode |
|
| Breakup by Business Function |
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| Breakup by Technology |
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| Breakup by Enterprise Size |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia AI Market Overview
8.1 Key Industry Highlights
8.2 Australia AI Historical Market (2018-2023)
8.3 Australia AI Market Forecast (2024-2032)
9 Australia AI Market by Type
9.1 Customizable AI
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 AI Marketplaces
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Pretrained Models
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Edge AI
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 Australia AI Market by Component
10.1 Software
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Service
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hardware
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Australia AI Market by Deployment Mode
11.1 Cloud
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 On-premises
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Australia AI Market by Business Function
12.1 Supply Chain Management
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Finance and Accounting
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Sales and Marketing
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Cybersecurity
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Operations
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Human Resource Management
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Legal and Compliance
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
13 Australia AI Market by Technology
13.1 Generative AI
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Natural Language Processing
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Deep Learning
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Machine Learning
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Computer Vision
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Australia AI Market by Enterprise Size
14.1 Small and Medium-sized Enterprise
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Large Enterprise
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Australia AI Market by End Use
15.1 Manufacturing
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 IT and Telecommunication
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 BFSI
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.4 Automotive
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
15.5 Healthcare
15.5.1 Historical Trend (2018-2023)
15.5.2 Forecast Trend (2024-2032)
15.6 Education
15.6.1 Historical Trend (2018-2023)
15.6.2 Forecast Trend (2024-2032)
15.7 Media and Entertainment
15.7.1 Historical Trend (2018-2023)
15.7.2 Forecast Trend (2024-2032)
15.8 Agriculture
15.8.1 Historical Trend (2018-2023)
15.8.2 Forecast Trend (2024-2032)
15.9 Retail and E-commerce
15.9.1 Historical Trend (2018-2023)
15.9.2 Forecast Trend (2024-2032)
16 Australia AI Market by Region
16.1 New South Wales
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 Victoria
16.2.1 Historical Trend (2018-2023)
16.2.2 Forecast Trend (2024-2032)
16.3 Queensland
16.3.1 Historical Trend (2018-2023)
16.3.2 Forecast Trend (2024-2032)
16.4 Australian Capital Territory
16.4.1 Historical Trend (2018-2023)
16.4.2 Forecast Trend (2024-2032)
16.5 Western Australia
16.5.1 Historical Trend (2018-2023)
16.5.2 Forecast Trend (2024-2032)
16.6 Others
17 Market Dynamics
17.1 SWOT Analysis
17.1.1 Strengths
17.1.2 Weaknesses
17.1.3 Opportunities
17.1.4 Threats
17.2 Porter’s Five Forces Analysis
17.2.1 Supplier’s Power
17.2.2 Buyer’s Power
17.2.3 Threat of New Entrants
17.2.4 Degree of Rivalry
17.2.5 Threat of Substitutes
17.3 Key Indicators for Demand
17.4 Key Indicators for Price
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Accenture PLC
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Solentive Systems Pty Ltd.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Telexar Technologies Pty Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Atlasopen
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Daisee Pty Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Remi Investing Pty Ltd.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 LexX Technologies Pty Ltd.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Red Marble AI Pty Ltd.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 CANOPY CREATIVE CORP PTY LTD
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Kyndryl Australia Pty Ltd.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia AI Market: Key Industry Highlights, 2018 and 2032
2. Australia AI Historical Market: Breakup by Type (USD Million), 2018-2023
3. Australia AI Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Australia AI Historical Market: Breakup by Component (USD Million), 2018-2023
5. Australia AI Market Forecast: Breakup by Component (USD Million), 2024-2032
6. Australia AI Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
7. Australia AI Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
8. Australia AI Historical Market: Breakup by Business Function (USD Million), 2018-2023
9. Australia AI Market Forecast: Breakup by Business Function (USD Million), 2024-2032
10. Australia AI Historical Market: Breakup by Technology (USD Million), 2018-2023
11. Australia AI Market Forecast: Breakup by Technology (USD Million), 2024-2032
12. Australia AI Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
13. Australia AI Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
14. Australia AI Historical Market: Breakup by End Use (USD Million), 2018-2023
15. Australia AI Market Forecast: Breakup by End Use (USD Million), 2024-2032
16. Australia AI Historical Market: Breakup by Region (USD Million), 2018-2023
17. Australia AI Market Forecast: Breakup by Region (USD Million), 2024-2032
18. Australia AI Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 5.36 million.
The market is expected to grow at a CAGR of 16.60% between 2024 and 2032.
The AI market in Australia is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 21.11 million by 2032.
The major drivers of the AI market include technological trends such as increasing computing and storage capacities, availability of machine learning programs, and the rising demand for automated and technologically advanced hardware and software products across various industries.
Key trends aiding the market expansion are favourable initiatives promoting AI adoption, increasing investments by tech giants, and the increasing application of AI in sectors like automotive, healthcare, retail, and finance.
Regions considered in the market are South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Based on business function, the market segmentations include supply chain management, finance and accounting, sales and marketing, cybersecurity, operations, human resource management, legal and compliance.
The end user encompasses manufacturing, IT and telecommunication, BFSI (Banking, Financial Services, and Insurance), automotive, healthcare, education, media and entertainment, agriculture, as well as retail and e-commerce sectors.
Key players in the market are Accenture PLC, Solentive Systems Pty Ltd, Telexar Technologies Pty Ltd, Atlasopen, Daisee Pty Ltd, Remi Investing Pty Ltd, LexX Technologies Pty Ltd, Red Marble AI Pty Ltd, CANOPY CREATIVE CORP PTY LTD, and Kyndryl Australia Pty Ltd, among others.
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