The output of the Computer, Electronic, and Optical Products Manufacturing sector in Australia increased consistently from 2013 to 2023, moving from 6.63 Billion AUD to 14.66 Billion AUD. The year-on-year growth rate varied significantly, with notable peaks in 2015 and 2018 at 27.07% and 13.51%, respectively. In the most recent years, the annual growth has been more moderate, with 4.96% in 2023. The compound annual growth rate (CAGR) over the last five years leading up to 2023 was 5.78%, indicating a stable growth trajectory.
The forecast from 2024 onwards shows continued growth, albeit at a slightly lower rate, with a forecasted CAGR of 3.01% over the next five years and a total growth rate of 15.99% by 2028, reaching an estimated 17.78 Billion AUD. This indicates a steady, albeit slower, growth trend compared to the past decade.
Future trends to watch for include potential impacts of technological advancements, the adoption of emerging technologies such as AI and IoT, and international trade policies. Another critical factor will be the sector’s adaptation to global economic conditions and supply chain disruptions.
