2014-04-02 06:15:02 - Research and Development in Australia: ISIC 73 - a new market research report on companiesandmarkets.com
Over the review period of 2000-2010 the Australian market for research and development more than tripled to reach a value of A$4.5 billion. The better a business performs the more money it is willing to dedicate to research and development activities; therefore Australia´s strong business performance in recent years has driven the research and development environment.
The market´s size has expanded constantly over the review period with an average 14% annual increase. Naturally B2B clients represented the main customer group, which accounted for a quite stable 83% of the total market. This was followed by the government with a 17% share.
According to the Australian Bureau of Statistics, the manufacturing, property and business services and mining industries were the main contributors to
business spending on research and development in 2005-2006, with respective shares of 39%, 17% and 17%.
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