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Discover a growing collection of research reports on niche and emerging Australian industries, including key statistics, current market analysis, major industry players, current and historical performance, and a five-year forecast.

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• AMSRS-- now The Research Society The Research Society Limited is a not-for-profit professional membership body of over 2,100 market research professionals. Its online directories are excellent tools to identify Australian market and social research companies and independent market research . Paid membership is required and ranges from "student" level to "full membership".
• BIS Oxford Economics BIS Oxford Economics - previously BIS Shrapnel - is a prominent global provider of industry research, analysis and forecasting services. It provides market size and segmentation data, market shares, consumer attitudes and supplier reputation information. It specialises in the following Australian industries: Building Forecasting; Residential Property; Commercial Property; Economics; Financial Services; Food & Beverages; Forestry; Household Appliances & Products; Infrastructure & Mining; Office Products; Paper & Packaging; Transport. Access to full reports are by subscription and content is geared towards industry participants.
• BuddeComm Based in Australia, BuddeComm is an independent global telecommunications research and consultancy company. Its research, covers 170 countries, 200 technologies and applications, 500 companies and explores developments in fixed and wireless telecommunications. Its research is currently focused on a range of telecoms and new media projects, including Digital Media, Fibre-to-the-Home, smart energy grids, e-health, interactive video and the convergence of telecommunications and IT. Its coverage of Australian markets is excellent. The State Library of Victoria holds many of Paul Budde publications. View the Budde Research page

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These market research vendors tend to be oriented to the USA. However, they also tend to focus on industries and markets that are global in nature.  While coverage of Australian-specific markets will be minimal, they are always worth checking.

• ABI Research Founded in 1990 to assist manufacturers of wireless semiconductor components in understanding and entering new markets, ABI has since expanded its analytical coverage to a broader base of manufacturers and service companies in the technology industries.
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• Forrester Research A research company that focuses on the business implications of technology change. It provides proprietary research, consulting and executive programs aimed at IT, marketing, and technology professionals.
• Freedonia The Freedonia Group publishes more than 100 industry research studies annually. Its reports include product and market forecasts, industry trends, threats and opportunities, competitive strategies, market share determinations and company profiles.
• Frost & Sullivan With more than 1700 researchers and analysts, F&S specialises in: Aerospace; Transportation; Chemicals, Materials & Foods; Consumer Products; Electronics and Security; Power Systems; Environment & Building Technologies; Healthcare, ICT, etc.
• Gartner Founded in 1979, Gartner is the world’s most prominent information technology research and advisory company with analysts and consultants in 80 countries. In addition to market research, it offers executive programs and consulting services.
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• IDC IDC is a provider of market intelligence and advisory services for the the IT, telecommunications and consumer technology markets. IDC provides global, regional, and local expertise on technology and industry trends in over 110 countries.
• Kalorama An established publisher of market research in medical markets, including the biotechnology, diagnostics, healthcare, medical device, and pharmaceutical industries.
• MarketResearch.com MarketResearch.com offers a large collection of industry reports based on market research updated daily. The reports compiled are geared towards businesses, specialists & individuals engaged in the various markets. Its coverage of Australian markets is good. Full reports are purchasable.
• Research and Markets This report aggregator offers market research reports and industry newsletters from leading publishers, specialist research firms and niche market analysts. Listed as a "Market Research Store", it offers a large range of reports for sale listed on its website.
• Yankee Group A technology research and consulting firm offering 15-to-20 page reports on global communications as it relates to networks, consumers and enterprises, as well as shorter pieces that address industry events, trends, case studies and market surveys. Requires subscription to log-in / access reports.

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Market Research in Australia

• October 2023
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• Euromonitor International
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Browse Research Oceania Australia All Categories Food & Beverage Food Service & Hospitality Restaurants Region: Australia Category : Restaurants

Australia Restaurants

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Meat in Australia

Market Research Report Summary

Meat in Australia report is published on October 1, 2020 and has 32 pages in it. This market research report provides information about Meat & Poultry, Food, Food & Beverages industry. It covers Australia market data and forecasts. It is priced starting at USD 350.00 for Single User License (PDF) which allows one person to use this report.

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Meat in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

- The meat market consists of the retail sales of ambient meat, chilled raw packaged meat - processed, chilled raw packaged meat - whole cuts, cooked meats - counter, cooked meats - packaged, fresh meat (counter) and frozen meat. The market is valued according to retail selling price (RSP) and includes any applicable taxes. All currency conversions used in the creation of this report have been calculated using constant annual average 2019 exchange rates. - The Australian meat market had total revenues of $13.6bn in 2019, representing a compound annual growth rate (CAGR) of 2.2% between 2015 and 2019. - Market consumption volume increased with a CAGR of 1.6% between 2015 and 2019, to reach a total of 1,174.5 million kilograms in 2019. - Increasing purchasing power in the country is primarily supporting the market growth.

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the meat market in Australia - Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the meat market in Australia - Leading company profiles reveal details of key meat market players’ global operations and financial performance - Add weight to presentations and pitches by understanding the future growth prospects of the Australia meat market with five year forecasts

Reasons to Buy

- What was the size of the Australia meat market by value in 2019? - What will be the size of the Australia meat market in 2024? - What factors are affecting the strength of competition in the Australia meat market? - How has the market performed over the last five years? - Who are the top competitiors in Australia's meat market?

Table of Contents 1 Executive Summary 1.1. Market value 1.2. Market value forecast 1.3. Market volume 1.4. Market volume forecast 1.5. Category segmentation 1.6. Geography segmentation 1.7. Market share 1.8. Market rivalry 1.9. Competitive Landscape 2 Market Overview 2.1. Market definition 2.2. Market analysis 3 Market Data 3.1. Market value 3.2. Market volume 4 Market Segmentation 4.1. Category segmentation 4.2. Geography segmentation 4.3. Market distribution 5 Market Outlook 5.1. Market value forecast 5.2. Market volume forecast 6 Five Forces Analysis 6.1. Summary 6.2. Buyer power 6.3. Supplier power 6.4. New entrants 6.5. Threat of substitutes 6.6. Degree of rivalry 7 Competitive Landscape 7.1. Market share 7.2. Who are the leading players in the Australian meat market?? 7.3. Which companies have been most successful in increasing their market share in the last five years? 7.4. Which companies’ market shares have suffered in the last five years? 7.5. What are the most popular brands in the market? 8 Company Profiles 8.1. Hans Continental Smallgoods Pty Ltd 8.2. Inghams Group Ltd 9 Macroeconomic Indicators 9.1. Country data 10 Appendix 10.1. Methodology 10.2. Industry associations 10.3. Related MarketLine research 10.4. About MarketLine

List of Tables List of Tables Table 1: Australia meat market value: $ million, 2015-19 Table 2: Australia meat market volume: million kilograms, 2015-19 Table 3: Australia meat market category segmentation: $ million, 2019 Table 4: Australia meat market geography segmentation: $ million, 2019 Table 5: Australia meat market distribution: % share, by value, 2019 Table 6: Australia meat market value forecast: $ million, 2019-24 Table 7: Australia meat market volume forecast: million kilograms, 2019-24 Table 8: Australia meat market share: % share, by value, 2019 Table 9: Hans Continental Smallgoods Pty Ltd: key facts Table 10: Inghams Group Ltd: key facts Table 11: Inghams Group Ltd: Key Employees Table 12: Australia size of population (million), 2015-19 Table 13: Australia gdp (constant 2005 prices, $ billion), 2015-19 Table 14: Australia gdp (current prices, $ billion), 2015-19 Table 15: Australia inflation, 2015-19 Table 16: Australia consumer price index (absolute), 2015-19 Table 17: Australia exchange rate, 2015-19

List of Figures List of Figures Figure 1: Australia meat market value: $ million, 2015-19 Figure 2: Australia meat market volume: million kilograms, 2015-19 Figure 3: Australia meat market category segmentation: % share, by value, 2019 Figure 4: Australia meat market geography segmentation: % share, by value, 2019 Figure 5: Australia meat market distribution: % share, by value, 2019 Figure 6: Australia meat market value forecast: $ million, 2019-24 Figure 7: Australia meat market volume forecast: million kilograms, 2019-24 Figure 8: Forces driving competition in the meat market in Australia, 2019 Figure 9: Drivers of buyer power in the meat market in Australia, 2019 Figure 10: Drivers of supplier power in the meat market in Australia, 2019 Figure 11: Factors influencing the likelihood of new entrants in the meat market in Australia, 2019 Figure 12: Factors influencing the threat of substitutes in the meat market in Australia, 2019 Figure 13: Drivers of degree of rivalry in the meat market in Australia, 2019 Figure 14: Australia meat market share: % share, by value, 2019

Hans Continental Smallgoods Pty Ltd Inghams Group Ltd

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Population density: where is it the highest and what does it mean for housing trends

In today's Pulse, CoreLogic research director Tim Lawless reveals the impact of population density on the housing market.

With Australia’s population moving through the fastest rate of growth since the 1950’s, our cities and towns are naturally densifying.  At a national level, the population density of 3.5 people per square kilometer (sq. km) is among the lowest in the world, highlighting our highly urbanised population where half the populace live in the three largest cities.  In fact, 75% of Australia’s population resides on just 2.6% of the land mass.

The density of the population, which is simply the number of residents divided by the land area, becomes more relevant at a city level and even more interesting across smaller areas.

Below is a snapshot of key findings from this analysis. 

1. Melbourne has the highest population density across the capital cities (521 people per sq.km), followed by Adelaide (444 ppl per sq. km) and Sydney (441 ppl per sq. km). Despite Sydney having a larger portion of medium to high density housing stock and generally smaller blocks of land, the larger land area of the Sydney metro region contributes to its lower population density.

2. Every capital city is recording a rise in population density, however the way this is occurring is quite different from region to region.

3. At the SA2 level, inner city precincts of Melbourne and Sydney dominate the highest density locations nationally, however the density rankings have changed remarkably over the past 20 years. Outside of Sydney and Melbourne, the SA2 regions with highest population density nationally were in Brisbane (Fortitude Valley), the Gold Coast (Surfers Paradise – North was ranked 97th) and the ACT’s Kingston (107th).

4. The relationship between population density and rental growth is weak. For units, areas with a high population density have shown slightly stronger rental appreciation relative to lower population density areas, but slightly weaker growth over the past decade. For house rents it's the opposite, where higher population densities have been associated with slightly weaker rental appreciation than areas with a lower population density over the past 12 months, but slight stronger over the past decade.

5. Of the 20 highest density SA2 locations nationally, only two recorded a larger rise in rents over the past 12 months than the capital city benchmark, Chippendale (+9.4%) and Hurstville-Central (+11.7%).

6. The relationship between unit values and population density is more significant, with high density unit markets generally showing a lower level of value growth over both the past 12 months, and past 10 years – although the longer- term relationship is more significant, potentially reflecting periods of higher unit supply that weighted on value appreciation. Sixteen of the top 20 have recorded a lower annual rate of unit value growth over the past decade relative to the broader capital city trend.  Over the past 12 months, nine of the of the top 20 have underperformed.

7. High population densities provide virtually no explanatory power for house values with the coefficient of determination just .001 over the past 12 months and over the past decade.

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Meet  Tim Lawless

Executive, Research Director, Asia-Pacific

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Tim is executive research director of CoreLogic’s Asia–Pacific research division, managing a team of economic and data specialists across Australia and New Zealand. He brings more than 20 years’ experience to the role, providing deep insights and analysis on national housing trends.

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Bulletin – April 2024 Australian Economy The Private Equity Market in Australia

18 April 2024

Jacob Harris and Emma Chow [*]

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The Australian private equity market has grown significantly for a number of years, particularly as the economy recovered from pandemic-related disruptions. Consistent with this growth, private equity deals involving Australian companies have increased in value, and private equity funds have raised larger amounts of capital from investors. Recently, however, private equity activity has declined substantially as borrowing costs increased. Over recent years, international private equity firms and investors have also increased their presence in the Australian market. This article discusses these developments in the Australian private equity market and considers the implications that a robust private equity market may have on Australian businesses and public capital markets.

Introduction

Australian companies benefit from deep, high-quality capital markets in which they can raise funds to support their operations and expand their business. A key component of this is the Australian equity market, in which companies raise money from investors in return for part-ownership of the company’s profits and assets. Companies listed on the Australian Securities Exchange (ASX) are some of the most visible businesses in Australia. Listed companies tend to be large, mature businesses that benefit from having their shares trade in a liquid and transparent public market.

Issuing shares on a public exchange, however, may not be the best way to raise capital for all companies. Some companies prefer to raise private equity capital, which generally involves a smaller number of investors, who therefore obtain more control over the company. This can be a particularly important source of funding for smaller or riskier businesses that may face greater costs and other challenges in raising capital in public markets.

While it remains much smaller than the public market, the Australian private equity market has grown significantly over recent years. Assets under management in Australian-focused private equity funds – an important component of the private equity market – have nearly tripled in size since 2010 to $66 billion (for comparison, the combined market capitalisation of companies listed on the ASX is $2.7 trillion). [1] This has occurred alongside substantial growth in private equity fund raisings and deals with Australian companies.

What is private equity?

Private equity is ownership or interest in a company that is not transacted in a public market. These companies are often small, new, or otherwise riskier businesses. [2] They may not have enough collateral or a track record of profits to qualify for bank financing, and other forms of debt funding may be prohibitively expensive. While internal equity financing through retained profits is often the cheapest source of funds, this can be impractical for companies with negative cashflows or businesses trying to grow quickly. [3] As such, private equity financing is an important source of funding for some companies’ operations and growth. While companies can obtain private equity financing from a variety of non-institutional sources – such as friends, family members, and angel investors – the most prominent investors are private equity firms. [4]

Private equity firms may raise capital for their investments through a combination of equity and debt. The equity component is typically raised from a range of external investors (limited partners) – such as superannuation funds, wealth managers and high net-worth individuals – as well as from the private equity firm itself (general partner) (Figure 1). This equity component may be supplemented with debt financing to increase the total amount of capital available for investment. Private equity firms generally invest in a portfolio of companies and distribute the returns on these investments, after costs, to the investors. The main external investors in Australian private equity funds are institutional investors, particularly superannuation funds and foreign institutions. The prevalence of institutional investors reflects, in part, the fact that private equity funds require a relatively high minimum contribution (subscription) from investors; these investments are also relatively illiquid, with investors typically required to lock their money away for a number of years. Retail investors in Australia nonetheless have some indirect exposure to private equity funds through the funds management industry and listed private equity investment companies.

Private equity firms invest the capital for each fund into a portfolio of companies that satisfies the fund’s mandate, such as indicators of growth potential. Investment decisions are normally managed and executed by the general partner of the fund (the private equity firm), with the limited partners (fund investors) paying management and performance fees to the private equity firm for these services. Private equity investments range from a minority stake in a business to buying out an entire company, and can be grouped into three broad categories:

• Venture capital. This involves investment in early-stage or growing companies with strong long-term growth potential.
• Buyouts. These involve the purchase of at least a controlling interest of an established (and often listed) company, often with the intention of improving operations and/or financials before selling the company for a profit. The largest of these transactions are generally leveraged buyouts, which tend to be financed with some equity and a significant amount of debt.
• Other private equity. This involves raising new equity capital to fund further growth opportunities, such as acquisitions, or to improve the company’s capital structure.

The objective of a private equity firm is to generate a return on their investments, potentially through selling their equity ownership at some point in the future at a profit. Private equity firms often take some degree of control in the management of a company, with the aim of improving its growth prospects and profitability. Changes may be made to operations and capital structure, staff and management, or the level of investment in research and development to improve a company’s products. Upon selling their investments, the firm will distribute net returns to the investors in its fund.

Size of and trends in the Australian private equity market

The Australian private equity market has seen significant growth in recent years, particularly as the economy recovered from pandemic-related disruptions. [5] As an indication of market size, private equity funds (both domestic and foreign) with a focus on investing in Australian companies had around $66 billion in assets under management as at June 2023, representing 2.6 per cent of GDP (Preqin and AIC 2024). [6] This comprised around $44 billion in funds already invested in Australian companies, and $22 billion in funds yet to be invested. Nominal assets under management for these funds grew by around 75 per cent from December 2019 to June 2023, with notable growth in venture capital funds (Graph 1, top panel).

While some of this growth stemmed from the returns on the investment portfolios, fund raising has also been a driver in recent years. Aggregate capital raised by private equity funds that have an Australian focus was a record $11.7 billion (0.5 per cent of GDP) in 2022 (Graph 1, bottom panel). This is significantly higher than the $4.1 billion annual average (inflation-adjusted to 2022) over the prior decade. It also greatly exceeded the amount of capital raised on the public equity market through initial public offerings, which, at roughly $1 billion in 2022, was well below the $9.8 billion annual average (inflation-adjusted to 2022) over the prior decade.

Consistent with the growth in private equity funds with a focus on investing in Australian companies, the value of private equity deals involving Australian companies has increased to a record high in recent years. The total value of private equity deals was $57 billion (2.3 per cent of GDP) in 2022 (Graph 2). This growth was primarily driven by a small number of large leveraged buyouts, in which private equity firms take on more debt to purchase a controlling stake in an established Australian company. Since 2023, however, private equity activity has declined, partly due to higher debt servicing costs.

The earlier strength and most recent decline in the Australian private equity market has mirrored private equity activity in other developed equity markets (Graph 3). Earlier strength occurred against a backdrop of rapid economic expansion during the pandemic recovery, low interest rates and strong company balance sheets, including elevated cash assets. Despite this growth, the Australian private equity market remains smaller than some other developed markets. Like Australia, international markets have also seen a decline in private equity activity from heightened levels during the pandemic recovery (Bain and Company 2024).

Recent private equity firm investments in Australian companies

In previous episodes of rapid growth in Australian private equity, investments were mostly concentrated in the information technology (IT) sector. [7] While the IT sector has recently attracted the greatest number of private equity deals (primarily driven by investments from venture capital firms), these deals only account for 8 per cent of the total value of private equity activity since 2020 (Graph 4). By contrast, private equity investment in other sectors have been driven by a small number of large buyouts.

Since the start of 2020, the value of private equity buyouts has been highest in the industrials and utilities sectors, with a relatively small value in IT companies. Industrial and utility companies often have stable cash flows and lower risk profiles. This makes them attractive targets for leveraged buyouts from private equity firms as the less volatile cash flows of the acquired company can be used to service debt. Significant deals in industrials include the approximately $25 billion acquisition of Sydney Airport and a large investment in DP World Australia ($6 billion), a prominent shipping terminal and supply chain operator. The utilities sector has also had several significant buyouts, notably AusNet ($10 billion) and Spark Infrastructure ($5 billion), both of which own and manage electrical infrastructure assets. Other notable recent buyouts include the $9 billion acquisition of Crown Resorts – the dominant transaction in the consumer discretionary sector – and the $3.5 billion deal to take telecommunications company Vocus Group private.

Unlike buyouts, the majority of recent venture capital activity in Australia has been concentrated in the IT sector. This is consistent with international venture capital investment, as developing IT companies typically have potentially strong but uncertain growth prospects that rely on high levels of initial research and development – that is, they are relatively risky investments. These companies may also remain unprofitable or generate negative cashflows for some time. To mitigate risk, venture capital firms often diversify their investments across a range of developing companies.

Since 2020, there have been nearly 500 venture capital deals worth a collective $8.5 billion in the Australian IT sector. This includes several later-stage funding deals for companies seeking further growth or to develop new products, such as software company Simpro ($500 million) and Canva ($450 million). The industrials sector has also seen some interest from venture capital firms, resulting in over 100 deals since 2020. The largest among these deals were concentrated on funding for companies providing technical services to support business logistics and operations.

The composition of Australian private equity fund raisings

Private equity funds based in Australia have raised significant capital in recent years (Graph 5). These funds can receive capital from both domestic and foreign investors and can invest in both domestic and foreign companies. While buyout funds generally raise the most capital, there has been a growing interest recently in venture capital and other private equity funds.

The share of capital committed to Australian private equity funds from foreign investors rose steadily to 45 per cent in 2019, compared with less than 10 per cent in 2010 (Graph 6). Most of this foreign capital is likely to have come from North America, though Asian investors are an increasingly large source of non-resident funding (Preqin and AIC 2024). Over this period, the Australian superannuation industry has gone from being the dominant investor class in Australian private equity to accounting for one-third of capital committed. Further, superannuation funds have reduced their exposure to unlisted equity over recent years from around 12 per cent of total assets in 2013 to 5 per cent in 2023 (APRA 2023).

Historically, most private equity investments in Australian companies were by Australian private equity funds investing domestic institutional money. However, offshore private equity funds have increased their Australian presence in recent years. In 2023, offshore private equity funds accounted for around 50 per cent of the total number of investments over the year, compared with around 35 per cent in 2010 (Graph 7). [8] This was primarily driven by investments from private equity funds based in the United States. Indeed, most of the largest deals in recent years (such as the acquisitions of Sydney Airport, AusNet and Crown Resorts) have had significant – if not sole – contributions from foreign private equity funds based in the United States or Canada.

The implications of a larger private equity market

There are both benefits to, and costs of, a larger private equity market. In particular, there are upside and downside risks to economic growth and capital efficiency. [9] In Australia, the private equity market remains primarily focused on smaller companies. This is despite some sizeable deals in recent years, with the level of assets under management in Australian-focused private equity funds being less than 3 per cent of listed equity market capitalisation. Further, some of the recent growth in private equity may eventually be absorbed into the public equity market.

The private equity market plays an important role in supporting the efficient allocation of capital to companies. [10] New, innovative businesses and products often seek external capital investments at a time when their growth prospects and earnings potential are highly uncertain. Venture capital firms are among the private equity firms specialised in assessing early-stage funding. Underperforming companies may also be targeted by private equity investment, which can bring expertise and experience to help maximise growth. The threat of takeover, including through buyout by private equity firms, can also discipline existing management to improve company performance. [11]

Some research, however, also indicates that the public equity market is more efficient at allocating capital than the private equity market – partly because unlisted firms are generally subject to less stringent public reporting and governance obligations. [12] Removing companies from public listing lowers transparency and may make it more difficult for investors to compare company and management performance to make informed investment decisions. Heightened levels of private equity buyout activity may reduce the diversification of the public equity market. Private buyouts of large companies have removed equity capital from the Australian public equity market at a time when there were limited inflows of new listings and initial public offerings. This has contributed to a greater concentration of the biggest companies in the public equity market, although only to around the average of the past 14 years (Graph 8).

The private equity market is an important source of funding for many Australian companies, particularly for smaller or riskier businesses that have difficulty raising capital in public markets. The Australian private equity market grew over several years to 2022 before declining in 2023, mirroring a heightened period of private equity activity in other developed markets. Growth was supported by broad-based economic expansion during the pandemic recovery, historic low interest rates (which makes leveraged private equity more attractive) and other accommodative policy measures. International private equity firms and investors increased their participation in deals involving Australian companies, and Australian private equity firms sourced around half of their capital from foreign investors.

A large, competitive private equity market can contribute to promoting an innovative, efficient and dynamic business sector in Australia. This is true for both companies that receive private equity investment, and for peer companies where the possibility of a takeover can provide more discipline on existing management. However, greater private equity market size and activity could also reduce the size and diversification of the public equity market. Despite some larger deals in recent years, the Australian private equity market remains small compared with international markets. It is also much smaller than the public equity market.

The authors completed this work in Domestic Markets Department. They would like to thank Ed Tellez and Iris Chan for their help with preparing this article. While every effort has been made to ensure the quality of the data used in this article, different data vendors may use inconsistent methodologies and some details about specific private equity transactions are undisclosed. As such, the values reported in this article should be treated as estimates. [*]

Assets under management in Australian-focused private equity funds represent only a portion of the total stock of private equity financing for Australian businesses. The value of private equity financing from other sources, such as friends, family members, and angel investors, is often undisclosed. [1]

Though some private equity investments may be in large, mature companies that are seen to be underperforming, poorly managed or undervalued. [2]

For further discussion on internal and external business finance in Australia, see Connolly and Jackman (2017). [3]

In this article, ‘private equity’ is used as an umbrella term that includes venture capital. [4]

The Australian private equity market encompasses both domestic and foreign private equity investments in Australian companies. Private equity firms based in Australia are discussed separately below. [5]

The scope of assets under management and fund raising data as shown in Graph 1 includes only private closed-end funds that predominantly focus on Australia, regardless of manager headquarters. [6]

For discussions on previous episodes of Australian private equity market growth, see Connolly and Tan (2002) and RBA (2007). [7]

Individual private equity deals often involve multiple private equity funds, with the value of each fund’s differing contributions often undisclosed. As such, it is difficult to precisely measure the proportion of aggregate private equity deal value that is sourced from foreign private equity funds. [8]

For a broad review of academic research on the effects of private and public equity markets, see Bernstein (2022). [9]

For further discussion on the positive influence of private equity investment on economic growth and innovation, see Samila and Sorenson (2011). [10]

For more information on the positive spillover effects of private equity investments on peer companies, see Aldatmaz and Brown (2019). [11]

For further discussion on the capital allocation efficiency gap between public and private equity markets, see Sanati and Spyridopoulos (2024). [12]

Aldatmaz S and GW Brown (2019), ‘Private Equity in the Global Economy: Evidence on Industry’, Journal of Corporate Finance , 60, Art No 101524.

APRA (Australian Prudential Regulation Authority) (2023), ‘Quarterly Superannuation Performance Statistics’, December.

Bain and Company (2024), ‘Global Private Equity Report 2024’, Report.

Bernstein S (2022), ‘The Effects of Public and Private Equity Markets on Firm Behavior’, Annual Review of Financial Economics , 14, pp 295–318.

Connolly E and B Jackman (2017), ‘ The Availability of Business Finance ’, RBA Bulletin , December.

Connolly E and A Tan (2002), ‘ The Private Equity Market in Australia ’, RBA Bulletin , June.

Preqin and AIC (Australian Investment Council) (2024), ‘Australian Private Capital Market Overview: A Preqin and Australian Investment Council Yearbook 2024’, Report.

RBA (Reserve Bank of Australia) (2007), ‘ Private Equity in Australia ’, Financial Stability Review , March.

Samila S and O Sorenson (2011), ‘Venture Capital, Entrepreneurship, and Economic Growth’, The Review of Economics and Statistics , 93(1), pp 338–349.

Sanati A and I Spyridopoulos (2024), ‘Comparing Capital Allocation Efficiency in Public and Private Equity Markets’, 30 January.

Market Research and Statistical Services in Australia - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

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Market Research and Statistical Services in Australia

Industry Revenue

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Market size is projected to over the next five years.

Market share concentration for the Market Research and Statistical Services industry in Australia is , which means the top four companies generate of industry revenue.

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Table of Contents

About this industry, industry definition, what's included in this industry, industry code, related industries, domestic industries, competitors, complementors, international industries, performance, key takeaways, revenue highlights, employment highlights, business highlights, profit highlights, current performance.

What's driving current industry performance in the Market Research and Statistical Services in Australia industry?

What's driving the Market Research and Statistical Services in Australia industry outlook?

What influences volatility in the Market Research and Statistical Services in Australia industry?

• Industry Volatility vs. Revenue Growth Matrix

What determines the industry life cycle stage in the Market Research and Statistical Services in Australia industry?

• Industry Life Cycle Matrix

Products and Markets

Products and services.

• Products and Services Segmentation

How are the Market Research and Statistical Services in Australia industry's products and services performing?

What are innovations in the Market Research and Statistical Services in Australia industry's products and services?

Major Markets

• Major Market Segmentation

What influences demand in the Market Research and Statistical Services in Australia industry?

International Trade

• Industry Concentration of Imports by Country
• Industry Concentration of Exports by Country
• Industry Trade Balance by Country

What are the import trends in the Market Research and Statistical Services in Australia industry?

What are the export trends in the Market Research and Statistical Services in Australia industry?

Geographic Breakdown

Business locations.

• Share of Total Industry Establishments by Region ( )

Data Tables

• Number of Establishments by Region ( )
• Share of Establishments vs. Population of Each Region

What regions are businesses in the Market Research and Statistical Services in Australia industry located?

Competitive Forces

Concentration.

• Combined Market Share of the Four Largest Companies in This Industry ( )
• Share of Total Enterprises by Employment Size

What impacts market share in the Market Research and Statistical Services in Australia industry?

Barriers to Entry

What challenges do potential entrants in the Market Research and Statistical Services in Australia industry?

Substitutes

What are substitutes in the Market Research and Statistical Services in Australia industry?

Buyer and Supplier Power

• Upstream Buyers and Downstream Suppliers in the Market Research and Statistical Services in Australia industry

What power do buyers and suppliers have over the Market Research and Statistical Services industry in Australia?

Market Share

Top companies by market share:

• Market share
• Profit Margin

Company Snapshots

Company details, summary, charts and analysis available for

Company Details

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• Total operating income
• Total employees
• Industry market share

Company Summary

• Description
• Brands and trading names
• Other industries

What's influencing the company's performance?

External Environment

External drivers.

What demographic and macroeconomic factors impact the Market Research and Statistical Services in Australia industry?

Regulation and Policy

What regulations impact the Market Research and Statistical Services in Australia industry?

What assistance is available to the Market Research and Statistical Services in Australia industry?

Financial Benchmarks

Cost structure.

• Share of Economy vs. Investment Matrix
• Depreciation

What trends impact cost in the Market Research and Statistical Services in Australia industry?

Financial Ratios

• 3-4 Industry Multiples (2018-2023)
• 15-20 Income Statement Line Items (2018-2023)
• 20-30 Balance Sheet Line Items (2018-2023)
• 7-10 Liquidity Ratios (2018-2023)
• 1-5 Coverage Ratios (2018-2023)
• 3-4 Leverage Ratios (2018-2023)
• 3-5 Operating Ratios (2018-2023)
• 5 Cash Flow and Debt Service Ratios (2018-2023)
• 1 Tax Structure Ratio (2018-2023)

Data tables

• IVA/Revenue ( )
• Imports/Demand ( )
• Exports/Revenue ( )
• Revenue per Employee ( )
• Wages/Revenue ( )
• Employees per Establishment ( )
• Average Wage ( )

Key Statistics

Industry data.

Including values and annual change:

• Revenue ( )
• Establishments ( )
• Enterprises ( )
• Employment ( )
• Exports ( )
• Imports ( )

Frequently Asked Questions

What is the market size of the market research and statistical services industry in australia.

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Key drivers of the Market Research and Statistical Services in Australia market include .

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Which companies are the largest players in the Market Research and Statistical Services industry in Australia?

Top companies in the Market Research and Statistical Services industry in Australia, based on the revenue generated within the industry, includes .

How many people are employed in the Market Research and Statistical Services industry in Australia?

The Market Research and Statistical Services industry in Australia has employees in Australia in .

How concentrated is the Market Research and Statistical Services market in Australia?

Market share concentration is for the Market Research and Statistical Services industry in Australia, with the top four companies generating of market revenue in Australia in . The level of competition is overall, but is highest among smaller industry players.

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Australia Mobile Cranes Rental Market

Australia Mobile Cranes Rental Market Size, Analysis: By Product Type: All Terrain Crane, Floating Crane, Truck Crane, Others; By Capacity: Up to 30 Ton, 30 - 50 Ton, 50 - 75 Ton, 75 – 100 Ton, Above 100 Ton; By Application: Construction, Mining & Excavation, Marine & Offshore, Industrial; Regional Analysis; Competitive Landscape; 2024-2032

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Australia Mobile Cranes Rental Market Outlook

The Australia mobile cranes rental market size reached USD 185.70 million in 2023. The market is expected to grow at a CAGR of 3.98% between 2024 and 2032, reaching USD 262.27 million by 2032.

Key Takeaways:

• The Australian construction sector, per the International Trade Administration, achieves over $162 billion annually in building activities.
• Mineral exploration expenditure rose by 0.9% in recent quarterly data on Australia's mineral and petroleum exploration in January 2024.
• The marine sector, per The Australian Institute of Marine Science, added $105.3 billion to GDP and supported 462,000 full-time jobs in 2020-21.

Construction activities drive the Australia mobile crane rental market growth due to their versatility, enabling navigation through construction sites, access to confined areas, and operation across various landscapes

In construction, mobile cranes provide adaptability in confined areas and various landscapes, precisely lifting heavy materials. They improve productivity, safety with load indicators, and cost-effectiveness through easy setup and access to remote sites.

In July 2023, JDM Diesel Services, a TRT TIDD Crane Dealer in Victoria, sold a TIDD PC28-2 to Colac Mobile Cranes, known for rigging, heavy lifting, and safety-focused services. The TIDD PC28-2 enhances their fleet with top-notch safety features.

In mining and excavation, mobile cranes efficiently lift heavy loads, minimizing downtime with swift material handling. They adjust to site alterations, enhance safety through maintenance services, and offer cost-effective solutions through rental choices.

Market Segmentation

Australia Mobile Cranes Rental Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• All Terrain Crane
• Floating Crane
• Truck Crane

Market Breakup by Capacity

• Up to 30 Ton
• 30 - 50 Ton
• 50 - 75 Ton
• 75 – 100 Ton
• Above 100 Ton

Market Breakup by Application

• Construction
• Mining & Excavation
• Marine & Offshore

Market Breakup by Region

• New South Wales
• Australian Capital Territory
• Western Australia

The Australia mobile cranes rental market key players Rex Constructions PTY LTD, Altec, Inc., Titan Cranes Pty Ltd, Freo Group Pty Ltd, Borger Crane Hire and Rigging Services Pty Ltd., Pakenham Crane Trucks, Cranecorp Australia and Joyce Krane Australia among others.

Key Highlights of the Report

*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 Australia Mobile Cranes Rental market 7    Opportunities and Challenges in the Market 8     Australia Mobile Cranes Rental Market Overview     8.1    Key Industry Highlights     8.2     Australia Mobile Cranes Rental Historical Market (2018-2023)      8.3     Australia Mobile Cranes Rental Market Forecast (2024-2032) 9    Australia Mobile Cranes Rental Market by Product Type     9.1    All Terrain Crane         9.1.1    Historical Trend (2018-2023)         9.1.2    Forecast Trend (2024-2032)     9.2    Floating Crane         9.2.1    Historical Trend (2018-2023)         9.2.2    Forecast Trend (2024-2032)     9.3    Truck Crane         9.3.1    Historical Trend (2018-2023)         9.3.2    Forecast Trend (2024-2032)     9.4    Others 10    Australia Mobile Cranes Rental Market by Capacity     10.1    Up to 30 Ton         10.1.1    Historical Trend (2018-2023)         10.1.2    Forecast Trend (2024-2032)     10.2    30 - 50 Ton         10.2.1    Historical Trend (2018-2023)         10.2.2    Forecast Trend (2024-2032)     10.3    50 - 75 Ton         10.3.1    Historical Trend (2018-2023)         10.3.2    Forecast Trend (2024-2032)     10.4    75 – 100 Ton         10.4.1    Historical Trend (2018-2023)         10.4.2    Forecast Trend (2024-2032)     10.5    Above 100 Ton         10.5.1    Historical Trend (2018-2023)         10.5.2    Forecast Trend (2024-2032) 11    Australia Mobile Cranes Rental Market by Application     11.1    Construction         11.1.1    Historical Trend (2018-2023)         11.1.2    Forecast Trend (2024-2032)     11.2    Mining & Excavation         11.2.1    Historical Trend (2018-2023)         11.2.2    Forecast Trend (2024-2032)     11.3    Marine & Offshore         11.3.1    Historical Trend (2018-2023)         11.3.2    Forecast Trend (2024-2032)     11.4    Industrial         11.4.1    Historical Trend (2018-2023)         11.4.2    Forecast Trend (2024-2032) 12    Australia Mobile Cranes Rental Market by Region     12.1    New South Wales         12.1.1    Historical Trend (2018-2023)         12.1.2    Forecast Trend (2024-2032)     12.2    Victoria         12.2.1    Historical Trend (2018-2023)         12.2.2    Forecast Trend (2024-2032)     12.3    Queensland         12.3.1    Historical Trend (2018-2023)         12.3.2    Forecast Trend (2024-2032)     12.4    Australian Capital Territory         12.4.1    Historical Trend (2018-2023)         12.4.2    Forecast Trend (2024-2032)     12.5    Western Australia         12.5.1    Historical Trend (2018-2023)         12.5.2    Forecast Trend (2024-2032)     12.6    Others 13    Market Dynamics     13.1    SWOT Analysis         13.1.1    Strengths         13.1.2    Weaknesses         13.1.3    Opportunities         13.1.4    Threats     13.2    Porter’s Five Forces Analysis         13.2.1    Supplier’s Power         13.2.2    Buyer’s Power         13.2.3    Threat of New Entrants         13.2.4    Degree of Rivalry         13.2.5    Threat of Substitutes     13.3    Key Indicator for Demand     13.4    Key Indicator for Price 14    Competitive Landscape     14.1    Market Structure     14.2    Company Profiles         14.2.1    Rex Constructions PTY LTD              14.2.1.1    Company Overview             14.2.1.2    Product Portfolio             14.2.1.3    Demographic Reach and Achievements             14.2.1.4    Certifications         14.2.2    Altec, Inc.              14.2.2.1    Company Overview             14.2.2.2    Product Portfolio             14.2.2.3    Demographic Reach and Achievements             14.2.2.4    Certifications         14.2.3    Titan Cranes Pty Ltd               14.2.3.1    Company Overview             14.2.3.2    Product Portfolio             14.2.3.3    Demographic Reach and Achievements             14.2.3.4    Certifications         14.2.4    Freo Group Pty Ltd              14.2.4.1    Company Overview             14.2.4.2    Product Portfolio             14.2.4.3    Demographic Reach and Achievements             14.2.4.4    Certifications         14.2.5    Borger Crane Hire and Rigging Services Pty Ltd.              14.2.5.1    Company Overview             14.2.5.2    Product Portfolio             14.2.5.3    Demographic Reach and Achievements             14.2.5.4    Certifications         14.2.6    Pakenham Crane Trucks              14.2.6.1    Company Overview             14.2.6.2    Product Portfolio             14.2.6.3    Demographic Reach and Achievements             14.2.6.4    Certifications         14.2.7    Cranecorp Australia               14.2.7.1    Company Overview             14.2.7.2    Product Portfolio             14.2.7.3    Demographic Reach and Achievements             14.2.7.4    Certifications         14.2.8    Joyce Krane Australia              14.2.8.1    Company Overview             14.2.8.2    Product Portfolio             14.2.8.3    Demographic Reach and Achievements             14.2.8.4    Certifications 15    Key Trends and Developments in the Market

16    List of Key Figures and Tables

1.    Australia Mobile Cranes Rental Market: Key Industry Highlights, 2018 and 2032 2.    Australia Mobile Cranes Rental Historical Market: Breakup by Product Type (USD Million), 2018-2023 3.    Australia Mobile Cranes Rental Market Forecast: Breakup by Product Type (USD Million), 2024-2032 4.    Australia Mobile Cranes Rental Historical Market: Breakup by Capacity (USD Million), 2018-2023 5.    Australia Mobile Cranes Rental Market Forecast: Breakup by Capacity (USD Million), 2024-2032 6.    Australia Mobile Cranes Rental Historical Market: Breakup by Application (USD Million), 2018-2023 7.    Australia Mobile Cranes Rental Market Forecast: Breakup by Application (USD Million), 2024-2032 8.    Australia Mobile Cranes Rental Historical Market: Breakup by Region (USD Million), 2018-2023 9.    Australia Mobile Cranes Rental Market Forecast: Breakup by Region (USD Million), 2024-2032 10.    Australia Mobile Cranes Rental Market Structure

What was the market value in 2023?

The market was valued at USD 185.70 million in 2023.

What is the growth rate of the Australia mobile cranes rental market?

The market is projected to grow at a CAGR of 3.98% between 2024 and 2032.

What is the market forecast for 2024-2032?

The revenue generated from the market is expected to reach USD 262.27 million in 2032.

What is the breakup of the market based on the product type?

The mobile cranes rental market is categorised according to product type, which includes all terrain cranes, floating cranes, truck cranes, and others.

Who are the key players in the Australia mobile cranes rental industry, according to the report?

The key players are Rex Constructions PTY LTD, Altec, Inc., Titan Cranes Pty Ltd, Freo Group Pty Ltd, Borger Crane Hire and Rigging Services Pty Ltd., Pakenham Crane Trucks, Cranecorp Australia and Joyce Krane Australia among others.

What is the breakup of the market according to the application?

Based on the application, the market is divided into construction, mining & excavation, marine & offshore and industrial.

What is the market breakup by region?

The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.

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Australia Healthcare Research

• Veterinary Equipment
• Animal Drugs
• Animal Vaccines
• Purified Proteins
• Bioservices
• Biotechnology Research Equipment
• Protein Engineering
• Electro Therapy
• Nuclear Medicine
• Cardiovascular
• Dental Care
• Diabetes Care
• Ophthalmology
• Pulmonology
• Drug Filled Devices With Needle
• Clinical IT
• Healthcare Analytics
• Aesthetic Devices
• Clinical Diagnostic Instrument
• Immune System Diagnostics
• Infectious Disease Testing
• Handheld Monitoring Devices
• Single time Monitoring Devices
• Molecular Diagnostic Devices
• Medical Optical Imaging
• Nuclear Medicine Imaging
• Fluoroscopy
• Mammography
• Surgical Imaging
• Joint Reconstruction
• Drug Delivery Products
• Personal Protective Equipment
• Dental Medical Instruments
• Hospital and Clinical Use
• Ablation Devices
• General Surgical Devices
• Minimally Invasive Surgery Devices
• Bariatric Surgery Devices
• Surgical Access Devices
• Wound Care Devices
• Contraceptive Devices
• Anesthesia Equipment
• Insulin Pumps
• Hyperglycemics
• Behavioural Disorder Drugs
• Diabetes Care Drugs
• Oncology Drugs
• Developmental Anomalities
• External Condition Drugs
• Immune System Drugs
• Infectious Disease Drugs
• OB/GYN Drugs

Filter Reports

2316 Australia Healthcare Reports

Country Covered: Australia

Study Period: 2019 - 2029

Major Players: Carestream Health Inc., Dentsply Sirona, Envista Holdings Corporation, GC Corporation, 3M Company

Major Players: Advanced Sterilization Products Services Inc., 3M Healthcare, B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health Inc.

Study Period: 2021 - 2029

Major Players: 3M Health Care Ltd, Medtronic PLC, Medline Industries Inc., Smith & Nephew PLC, Johnson & Johnson

Major Players: Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, B. Braun SE, Cardinal Health Inc.

Study Period: 2018 - 2029

Major Players: Dexcom, Medtronic, Abbott, Everesense, Ascensia

Major Players: Dexcom, Roche Diabetes Care, Abbott Diabetes Care, Ascensia Diabetes Care, Medtronics

Major Players: Novo Nordisk, Dexcom, Abbott, Sanofi, Medtronic

Major Players: Roche Diabetes Care, Abbott Diabetes Care, LifeScan, Arkray, Inc., Ascensia Diabetes Care

Major Players: Abbvie Inc., Amgen Inc., AstraZeneca plc, Eli Lilly & Co., Pfizer Inc.

Major Players: Lumenis Inc., Cutera, Inc., Bausch Health Companies Inc. (Solta Medical, Inc.)​​, Candela Corporation, Alma Lasers (Sisram Medical Ltd)

Major Players: Abiomed Inc, LivaNova PLC, Bionic Vision Technologies, Ossur, Cochlear Ltd

Major Players: Alcon Inc, Bausch Health Companies Inc, Johnson and Johnson, Carl Zeiss Meditec AG, Ziemer Ophthalmic Systems AG

Major Players: Apollo Endosurgery Inc., Intuitive Surgical Inc., B. Braun SE, Medtronic, Johnson & Johnson

Major Players: B. Braun Melsungen AG, Boston Scientific Corporation, Medtronic PLC, Johnson & Johnson, Conmed Corporation

Major Players: Stryker Corporation, B. Braun Melsungen AG, Anatomics Pty Ltd, Nihon Kohden Corporation, Penumbra, Inc.

Major Players: Koninklijke Philips N.V, Mindray Medical International Co. Ltd., Nihon Kohden Corporation, Baxter International Inc., Siemens Healthcare GmbH

Major Players: Zoetis Inc, Vetoquinol SA, Elanco, Merck Co. Inc., Boehringer Ingelheim

Major Players: Boston Scientific Corporation, Medtronic PLC, Olympus Corporation, Stryker Corporation , Zimmer Biomet

Major Players: Siemens AG, Koninklijke Philips NV, GE Healthcare, Carestream Health, Canon Australia Pty Ltd

Major Players: Siemens AG, Planmed OY, Fujifilm Holdings Corporation, Hologic Inc., GE Healthcare

Major Players: Siemens AG, Canon Medical Systems, GE Healthcare, Fujifilm Holding Corporatio, Koninklijke Philips N.V.

Major Players: GE Healthcare, Siemens Healthineers AG, Fujifilm Holdings Corporation, Koninklijke Philips NV, Mindray Medical International Limited

Major Players: Carestream Health, GE Healthcare, Siemens Healthineers AG, Fujifilm Holdings Corporation , Koninklijke Philips NV

Major Players: Carestream Health, GE Healthcare, Koninklijke Philips NV, Koning corporation, Planmeca Group (Planmed OY)

Major Players: GSK PLC, GE Healthcare Inc., Drive Medical (DeVilbiss Healthcare LLC), Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Ltd

Major Players: GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V., Canon Inc. (Canon Medical Systems Corporation), Bayer AG

Major Players: Natus Medical Incorporated, GE Healthcare, Koninklijke Philips NV, Getinge AB, Vyaire Medical

Major Players: Depuy Synthes Spine Inc. (Johnson & Johnson), Medtronic PLC, NuVasive Inc, Zimmer Holdings Inc, Orthofix Holdings Inc

Major Players: Medtronics, Ascensia Diabetes Care, Insulet Corporation, Tandem Diabetes Care, Ypsomed

Major Players: Reckitt Benckiser, HERO, Bayer Healthcare, Lifestyles Healthcare, Merck & Co. Inc.

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News & Insights

AI Stocks: 9 Biggest Companies in 2024

April 22, 2024 — 04:30 pm EDT

Written by Melissa Pistilli for Investing News Network  ->

Artificial intelligence (AI) may be an emerging technology, but there are plenty of billion-dollar companies in this space.

As the market has grown over the past few years, AI technology has made strong inroads into several key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity.

While AI-driven advancements in robotics have received the most press in recent years, the latest buzz has centered around OpenAI’s ChatGPT . This intelligent chatbot shows how quickly generative AI is advancing, and has attracted the attention of heavyweight technology companies such as Microsoft (NASDAQ: MSFT ), which has reportedly invested billions of dollars in the privately held OpenAI. Alphabet (NASDAQ: GOOGL ) has also released its own AI chat tool, Google Gemini.

On a global scale, Fortune Business Insights predicts that the AI industry will experience a compound annual growth rate of 20.2 percent between 2024 and 2032 to reach a market value of more than US$2.74 trillion.

Here the Investing News Network profiles some of the biggest AI stocks by market cap on US, Canadian and Australian stock exchanges. Data was gathered on April 12, 2024, using TradingView’s stock screener .

American AI stocks

According to Tracxn Technologies, the number of US AI companies has more than doubled since 2017 with over 70,700 companies working in the sector today.

One of the major factors fueling growth in the American AI market, states Statista , is “the growing investments and partnerships among technology companies, research institutions, and governments".

Below are three of the top US AI stocks.

1. Microsoft (NASDAQ:MSFT)

Market cap: US$3.134 trillion; share price: US$421.74

In addition to the reported billions Microsoft is committed to investing in OpenAI, the technology behemoth has built its own AI solutions based on the chatbot creator’s technology: Bing AI and Copilot . OpenAI officially licensed its technologies to Microsoft in 2020.

An update to Windows 11 in 2023 integrated Bing into the operating system's search bar, allowing users to interact with the chatbot directly with Microsoft's Edge browser, Chrome and Safari.

Microsoft’s moves into generative AI have translated into higher revenues for its Azure cloud computing business, and a higher market capitalization as the tech giant pushed past the US$3 trillion mark in January 2024. The company is also expected to unveil its first AI PC this year.

2. NVIDIA (NASDAQ:NVDA)

Market cap: US$2.215 trillion; share price: US$866.11

The global leader in graphics processing unit (GPU) technology, NVIDIA is designing specialized chips used to train AI and machine learning models for laptops, workstations, mobile devices, notebooks, and PCs. The company is partnering with a number of big name tech firms to bring a number of key AI products to market.

Through its partnership with Dell Technologies (NYSE: DELL ), NVIDIA is developing AI applications for enterprises, such as language-based services, speech recognition and cybersecurity. The chip maker has been instrumental in the build out of Meta Platforms’ (NASDAQ: META ) AI supercomputer called the Research SuperCluster, which reportedly uses a total of 16,000 of NVIDIA's GPUs.

Most recently, NVIDIA and the Taiwan Semiconductor Manufacturing Company (NYSE: TSM ) have developed the world's first multi-die chip specifically designed for AI applications: the Blackwell GPU . Blackwell’s architecture allows for the increased processing power needed to train larger and more complex AI models.

NVIDIA’s AI ambitions were on full display at its GPU Technology Conference in March where CEO Jensen Huang presented his company’s plans to build humanoid robots , known as Project GR00T. “Building foundation models for general humanoid robots is one of the most exciting problems to solve in AI today,” stated Huang in his keynote presentation.

3. Alphabet (NASDAQ:GOOGL)

Market cap: US$1.967 trillion; share price: US$158.92

Alphabet holds court with both Microsoft and NVIDIA as part of the tech sector’s Magnificent 7 , and its foray into AI has also brought the tech giant much success. As of April 12, Alphabet’s market cap looks set to surpass the US$2 trillion mark .

It would seem investors still remain confident in the potential for growth in Alphabet’s AI ventures despite its hiccups in the rollout of its subsidiary Google’s AI chatbot Gemini, formerly called Bard. “While the headlines haven’t been favorable, Google’s role in generative AI products will present massive growth opportunities for the stock,” said Sylvia Jablonski , chief executive officer at Defiance ETFs.

In early April, Google introduced a custom AI chip designed for its cloud services customers. Set to be delivered later this year, the technology uses British semiconductor company Arm Holding's (NASDAQ: ARM ) AI architecture. In the same week, Google revealed its new A3 Mega AI processor based on NVIDIA’s H100 Technology.

Canadian AI stocks

Recognized as a world-leading AI research hub, Canada ranks fifth out of 54 countries in the Global AI Index . Since 2017, the Canadian government has invested hundreds of millions of dollars into accelerating the research and commercialization of AI technology in the country through the Pan-Canadian Artificial Intelligence Strategy .

Recent research by IBM (NYSE: IBM ) says Canadian businesses are increasingly adopting AI, with 37 percent of IT professionals in large enterprises reporting that they have deployed the technology in their operations.

Below are three of the top Canadian AI stocks.

1. CGI (TSX:GIB.A)

Market cap: US$33.238 billion; share price: US$143.45

Montreal-based CGI is among the world’s largest IT systems integration companies, and offers a wide range of services, from cloud migration and digital transformation to data analysis, fraud detection, and even supply chain optimization. Its more than 700 clients span the retail, wholesale, consumer packaged goods and consumer services sectors worldwide.

Through a partnership with Google, CGI is leveraging the Google Cloud Platform to strengthen the capabilities of its CGI PulseAI™ solution, which can be integrated with existing applications and workflows.

CGI is aggressively working to expand its generative AI capabilities and client offerings, and reportedly is planning to invest US$1 billion into its AI offerings. In early March, the company launched Elements360 ARC-IBA , an AI powered platform for brokers and insurers to settle accounts in the UK broking industry.

2. OpenText (TSX:OTEX)

Market cap: C$13.366 billion; share price: C$48.58

Ontario-based OpenText is one of Canada’s largest software companies. The tech firm develops and sells enterprise information management software. Its portfolio includes hundreds of products in the areas of enterprise content management, digital process automation and security, plus AI and analytics tools. OpenText serves small businesses, large enterprises and governments alike.

OpenText's AI & Analytics platform has an open architecture that enables integration with other AI services, including Google Cloud and Azure. It can leverage all types of data, including structured or unstructured data, big data and the internet of things (IoT) to quickly create interactive visuals.

In January, OpenText launched its Cloud Editions 24.1, which includes enhancements to its OpenText Aviator portfolio. "Leveraging AI for impactful results depends on reliable data – without it, even the most skilled data scientists will struggle,” stated OpenText CEO and CTO tMark J. Barrenechea. “By expanding the Aviator portfolio in conjunction with our world class information management platform, Cloud Editions 24.1 empowers customers with the tools and insights needed to get ahead."

3. Descartes Systems Group (TSX:DSG)

Market cap: C$8.9 billion; share price: C$104

Descartes Systems Group provides on-demand software-as-a-service (SaaS) solutions. The multinational technology company specializes in logistics software, supply chain management software and cloud-based services for logistics businesses.

AI and ML enhancements to Descartes’ routing, mobile and telematics suite are helping the company’s customers optimize fleet performance. “AI and ML are perfect extensions to our advanced route optimization and execution capabilities,” said Ken Wood, executive vice president at Descartes. “From dynamic delivery appointment scheduling through planning and real-time route execution, we’ve used AI and ML to improve our ability to deliver the next level of fleet performance for customers.”

Australian AI stocks

AI investment in Australia is expected to reach AU$5.7 billion in 2026 , according to research firm IDC. The biggest spenders when it comes to AI in Australia are the banking industry, the federal government, professional services and retail.

Below are three of the top Australian AI stocks.

1. Xero (ASX:XRO)

Market cap: AU$18.451 billion; share price: AU$121.96

New Zealand-based technology company Xero provides cloud-based accounting software for small and medium-sized businesses. The company’s product portfolio also includes the Xero Accounting app, Xero HQ, Xero Ledger, Xero Workpapers and Xero tax tools.

Xero has made a number of AI enhancements to its platform in recent years, including bank reconciliation predictions that save time and reduce errors, and Analytics Plus, a suite of AI-powered planning and forecasting tools.

In March, the company launched its Gen AI assistant, named ‘Just Ask Xero’ or JAX. Some of its features include the automation or streamlining of repetitive and time-consuming tasks; the ability to anticipate tasks based on previous user actions and the ability to make cashflow projections on request.

2. TechnologyOne (ASX:TNE)

Market cap: AU$5.213 billion; share price: AU$16.23

TechnologyOne is another large enterprise technology software firm in Australia. In fact, it is the country’s largest enterprise resource planning SaaS company. TechnologyOne has a client base of over 1,200, including customers in the government, education, health and financial services sectors across Australia, New Zealand and the UK. The company’s research and development center is targeting cloud-based technology, AI and ML.

TechnologyOne recently announced its 2023 financial results , highlighting that it saw record profits for the 14th year. The company’s SaaS annual recurring revenue was up 22 percent and its after-tax profit was up 16 percent. TechnologyOne attributes the strong results to robust demand for the company’s global SaaS enterprise resource planning solution. TechOne attributed its success to the large number of major deals it completed in the government sector over the period.

3. Brainchip Holdings (ASX:BRN)

Market cap: AU$647.603 million; share price: AU$0.345

Global technology company BrainChip Holdings has developed and commercialized a type of edge AI that simulates the functionality of the human neuron. The company's neuromorphic processor, Akida, enables the deployment of edge computing across several applications, including connected cars, consumer electronics and industrial IoT.

BrainChip partnered with AI-based video analytics solutions provider CVEDIA in May 2023 to further develop edge AI and neuromorphic computing. The CVEDIA-RT platform for video analytics will be integrated with BrainChip’s Akida neuromorphic IP. The technology has applications in security and surveillance, transportation, information technology services and retail.

The company has also partnered with MYWAI , a leader artificial intelligence-of-things (AIoT) solution provider. They will leverage BrainChip’s Akida™, with MYWAI’s AIoT Platform for equipment-as-a-service. “The partnership is expected to accelerate the adoption of Edge AI in the industrial and robotic sectors and generate significant value for both companies and their customers,” stated the press release.

FAQs for AI stocks

​which company is leading the ai race.

Google and Microsoft are battling it out for king of the AI hill. While a study from digital marketing firm Critical Mass shows that consumers believe Alphabet’s Google is leading the AI race, analysts are pointing to Microsoft as the clear frontrunner. Microsoft stands to benefit in a big way from its billions of dollars investment in OpenAI's ChatGPT as advancements in generative AI may have the potential to increase the company's revenues for its Azure cloud computing business.

​Which country is doing best in AI?

North America is the global hotspot for advancements in AI technology and is home to the majority of the world’s largest AI providers. Of the countries in this region, Canada’s AI industry is showing the fastest growth, according to a report by Markets and Markets . Swiss-based CRM firm InvestGlass positions the US as the primary hub for AI development, and many of the world’s leading tech giants are headquartered there. According to the firm, China comes in a close second.

​What is Elon Musk's AI company?

In November 2023, Elon Musk launched Grok , a new AI technology company based in Nevada. While not much is known about the company yet, Musk said he is starting it as a "third option" to ChatGPT and Google Gemini; its product will be named TruthGPT.

​Does Tesla have its own AI?

Tesla (NASDAQ: TSLA ) has developed proprietary AI chips and neural network architecture. The company’s autonomous vehicle AI system gathers visual data in real time from eight cameras to produce a 3D output that helps to identify the presence and motion of obstacles, lanes and traffic lights. The AI-driven models also help autonomous vehicles make quick decisions. In addition to developing autonomous vehicles, Tesla is working on bi-pedal robotics.

Don't forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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All systems go for Australia’s first software degree apprentices

23 April 2024

Australia’s first cohort of software engineering students to combine an apprenticeship with a degree, rubbed shoulders with defence industry leaders today in an official launch of the program at UniSA.

Thirteen UniSA students have started work this year with three Adelaide defence employers – BAE Systems , submarine company ASC and electronic warfare specialists Consunet – combining work and study in their first year of a Bachelor of Software Engineering (Honours).

The UniSA students will support South Australia’s growing defence sector, ahead of the construction of nuclear-powered AUKUS submarines.

Following the UK’s lead, where software degree apprenticeships are delivered in conjunction with BAE System’s submarine shipyard in Barrow-in-Furness , the students are earning and learning in a fusion of academic education and practical workplace training.

SA Minister for Education, Training and Skills, Blair Boyer MP , officially launched the degree apprenticeship program this morning at UniSA’s Enterprise Hub, joined by industry partners and UniSA Provost & Chief Academic Officer Professor Joanne Cys .

The program is a partnership between UniSA, the State Government, the defence industry and the Australian Industry Group ( Ai Group ).

Funded by the State Government with a $450,000 commitment over three years, the Australia-first initiative of blending university study with paid work could set a precedent for other industries depending on its success.

“This is a tangible way in which the Malinauskas Labor Government is supporting key defence industries in South Australia, helping to create a skilled, qualified pipeline of employees,” Minister Boyer says.

UniSA Vice Chancellor Professor David Lloyd says the degree apprenticeship is a natural fit for UniSA.

“We are extremely proud to lead the country in co-designing this Australia-first program with industry and the State Government. “The apprenticeship is designed to embed software engineering students into SA’s defence sector from day one. By learning – and earning – on the job and integrating university study into their week, they will be able to hit the ground running when they graduate, equipped with the right skills. “UniSA has always worked closely with industry to respond to changing workplace needs, and prides itself on being the leading university for graduate employability in Australia.”

18-year-old Alicia Bawden is one of 13 UniSA students enrolled in the first cohort, apprenticed to BAE Systems at Osborne. The former Norwood International High School student enjoyed coding at school, steering her in the direction of software engineering.

“I really enjoy the blended learning experience because it’s an opportunity to get first-hand experience working in the engineering environment and it enables you to implement what you learn at university into a real-world situation,” Alicia says. Mature aged student Daniel Tweedale, 33, was drawn to the program after previous interactions with the defence industry while working as a contractor. The BAE apprentice is considering a career in systems engineering or computer science. “I enjoy problem solving, working with technology and I’m a hands-on learner so this model really suits me,” he says. The first-year UniSA software engineering subjects include IT fundamentals, problem solving and programming, industry professional development and taking part in a Design Think Studio. “The UniSA course delivery is quite unique and it promotes team work, critical thinking and reflection – all aspects that we can put into practise in the workplace,” Daniel says.

…………………………………………………………………………………………………………………………

Media contact: Candy Gibson M:  0434 605 142 E: [email protected]

Other articles you may be interested in

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Money latest: 'Stealth' raid on Britons' inheritance revealed; urgent Aldi recall amid police probe; petrol price spikes

Inheritance tax receipts surged to a record high last year due to the government freezing the threshold at which you start to pay. Read this plus all the latest consumer and personal finance news below - and listen to the latest Ian King Business Podcast as you scroll.

Tuesday 23 April 2024 20:41, UK

• Inflation falling doesn't mean we should cut interest rates, Bank of England economist says
• More Britons paying inheritance tax after chancellor freezes threshold - so how can you beat it?
• Aldi recalls product amid police investigation
• Petrol prices hit 150p a litre for first time since November

Essential reads

• 'More important than a will': What are lasting power of attorneys and how much do they cost?
• Ian King analysis : FTSE highs - why is it happening and what does it mean for UK economy?
• Money Problem : My neighbour's trees are damaging my wall, they think they're bigger than the law - what can I do?
• Should you offer kids cash rewards for good grades? Psychologist's view
• Listen to the Ian King Business Podcast above and tap here to follow wherever you get your podcasts

Tesco is being monitored by the UK's supermarket regulator after it began imposing an "Amazon-style" fulfilment fee on online suppliers, according to The Times. 

The supermarket faced criticism after it imposed the fee, which is linked to processing orders, picking and shipping products, and managing returns. 

Brands and suppliers said the fee could put many of them out of business. 

Tesco argued it made the decision after its own fulfilment costs grew when it expanded its online operations.

The smallest suppliers with contracts of £250,000 or less are exempt, but bigger suppliers pay from 12p per item for branded goods and 5p for own brands.

Carpetright has been hit by a cyberattack which has prevented it from trading across its 400 UK stores for almost a week, according to a report. 

Customers have been unable to place orders in its shops since last Thursday, staff told The Times. 

A spokeswoman added that online customers were "largely unaffected" and would be able to make new orders - but the attack will still be a financial blow for the flooring chain. 

BP is rolling out a new crime logging platform and body-worn cameras to improve safety for its staff members. 

The app-based platform will allow staff to report incidents and get in touch with police, as well as helping BP to identify offenders targeting multiple sites across its business. 

The platform will also send an alert when repeat offenders or vehicles of interest are reported on the platform in the local area. 

The government has announced a UK-wide ban on wet wipes containing plastic in a bid to reduce pollution.

According to the Marine Conservation Society, 11 billion wet wipes are used in the UK each year. Of these, 90% contain plastic. 

Discarded wet wipes frequently litter Britain's beaches and eventually break down into microplastics, which contribute to water pollution and damage ecosystems.

The ban, announced yesterday, should go through parliament this summer.

Read more here ...

Rising private school fees are forcing parents to take out loans, move house or turn to taking money from relatives.

More than 71% of 2,000 people surveyed in the Saltus Wealth Index report said the rising cost of private school tuition was impacting choices regarding their children.

Mike Stimpson, a partner at Saltus, said fees had increased by 6% from 2022-23 and were likely to increase another 5% this September. 

Out of the respondents, 21% said they would have to move their children out of private school.

Private school costs average around £24,000 a year, according to The Good Schools Guide.

Rising cigarette prices are prompting more people to quit smoking.

While health concerns still remained the top reason for quitting in a survey of nearly 6,000 people, a quarter of respondents said it was down to the cost of cigarettes - up from a fifth before the pandemic. 

The average price of a packet of 20 cigarettes is more than £14. 

Highlighting the savings that could be made by quitting smoking could help more people to stop, the University College London study said. 

The FTSE-100 has hit a second all-time closing high in as many days. The index of the UK's biggest 100 listed companies, having earlier hit a new intra-day high of 8,075.52 at just after 8.24am, finished the session up 20.94 points, around 0.26%, at 8044.81.

It's worth noting, though, the Footsie has been a relative laggard this year. The S&P 500, America's top stock index, is up 6.91% so far in 2024, Japan's Nikkei 225 is up 12.81% and Germany's DAX 40 is up by 8.30%. 

The Footsie, by contrast, is up by a mere 4.05% even after the rally of recent sessions. So it can hardly be said to be doing well compared with international peers. On top of those already mentioned, the MIB in Italy is up by 13.24% this year and the CAC 40 in France by 7.46%, for example.

Nonetheless, the Footsie hitting a new record close two days running is notable.

There is no shortage of reasons why. 

The most obvious is the recent weakness in sterling. The pound hit a five-month low against an international basket of currencies on Monday following comments from Sir Dave Ramsden, a deputy governor of the Bank of England, on Friday afternoon in which he pointed to the growing likelihood of interest rate cuts in the near future. 

That has weakened the pound against the US dollar in particular. 

Since three-quarters of earnings of FTSE-100 companies are denominated in other currencies, chiefly the US dollar, a fall in the pound against those currencies makes the future earnings generated by Footsie companies - whose shares are denominated in sterling - cheaper to buy in those currencies.

That was certainly behind the big rally seen on Monday -although today sterling rallied on comments from Huw Pill, the Bank's chief economist, which suggests there is more going on. That something is the relative cheapness of the Footsie in comparison with its peers. 

The Footsie currently trades on a price/earnings (P/E) ratio of just 13.22 times - in other words, £1 invested in the index today would be repaid 13.22 years from now. 

That is cheap when set against the DAX in Germany, which trades on a P/E of 14.87 times and the CAC in France, which trades on a P/E of 15.91 times or the SMI in Switzerland, which is on 14.52 times. 

The main US indices, meanwhile, cavort along on P/E ratios of more than 20 times. Only Spain's leading stock index, the IBEX, looks cheaper than the Footsie by comparison.

The conclusion that should emphatically not be drawn is that the Footsie's recent rally is anything to do with the UK's economic outlook, even though the latter is visibly improving. 

The index is chock-full of companies that have little or nothing to do with the UK - such as Fresnillo, a Mexican gold and silver miner; Antofagasta, a Chilean copper and gold miner; and Ashtead Group, a plant and tool hire company which derives £90 in every £100 it earns from the US. 

Even companies thought of as British, such as BP, Rolls-Royce, BAE Systems, Shell and Diageo, the world's biggest scotch whisky and tequila producer, derive the vast majority of their earnings outside the UK. In fact, of the 20 biggest companies in the Footsie, only one - the Lloyds Banking Group - can be said to make most of its income in the UK.

For a better gauge of how corporate Britain is doing, investors are better off looking at the FTSE 250, the next biggest 250 listed companies on the London Stock Exchange and home to household names such as Bellway, Games Workshop and ITV.

Some of these also derive a fair chunk of earnings from outside the UK, such as the cruise operator Carnival, the ingredients producer Tate & Lyle and the catalytic converters group Johnson Matthey. 

But it is also replete with companies that make most or all of their earnings in the UK, such as the property trio British Land, LondonMetric Property and Derwent London, the housebuilder Bellway and everyone's favourite sausage roll emporium Greggs.

In short, the FTSE 250 is a much better guide to sentiment towards UK companies than the FTSE-100. The bad news is that it is only up by a paltry 0.6% this year so far.

Labour has added an amendment to the government's Renters (Reform) Bill that would prevent landlords from selling a property for two years after a tenancy has begun. 

Under the rule, landlords would have to wait two years from the tenancy start date before initiating repossession proceedings. 

The bill aims to reform the private rental sector, and also includes plans to scrap "no fault" evictions, make it illegal for landlords to refuse to rent out to those on benefits or with children, and create a national landlord register. 

It is being debated tomorrow and is in the report stage, meaning MPs can consider further amendments. 

Any amendments will need to be voted through.

Other significant amendments include prevemting tenants from giving notice to quit until they have been in a property for four months. 

As tenants have to give two months' notice, this effectively means they will need to stay in a property for six months. 

Tory MP Natalie Elphicke has also added an amendment requiring landlords to pay renters and unspecified relocation fee if if they asked them to leave a property within the first two years of a tenancy.

Recent falls in inflation may have spurred talk of interest rate cuts, but the Bank of England's deputy governor has said this is not necessarily enough reason to slash rates. 

Speaking at the University of Chicago, Huw Pill said it would be better to cut rates too late rather than too early. 

He said little had changed with the inflation and interest rate situation since late March, and that there were "greater risks" associated with going too early. 

Despite optimism among some, Mr Pill said there is still a "reasonable way to go" before inflation has stabilised to the level needed for the UK to meet its 2% inflation target in a sustainable way. 

"This assessment further supports my relatively cautious approach to starting to reduce Bank rate," he said. 

Mr Pill had voted to keep the Bank rate unchanged at 5.25% in the most recent meetings of the Bank's Monetary Policy Committee in March. 

Inflation currently stands at 3.2% - the lowest rate since September 2021. 

This is still above the Bank's target of 2%. 

The next Bank rate decision is next week - but markets don't expect a cut then. June is seen as more likely - though Mr Pill's comments cast some doubt on that.

Petrol prices are exceeding 150p per litre for the first time since last November, according to new data.

Figures from the website Fuel Prices Online shows typical pump prices reached 150.1p per litre on Monday.

The average price of a litre of diesel is also at the highest level since November 2023, at 158.3p.

Experts say rising fuel prices in recent weeks can be attributed to an increase in the cost of oil and a weakening of the pound versus the US dollar.

AA fuel price spokesman Luke Bosdet said while inflation was heading downwards, petrol's rebound to 150p a litre left a "big boulder in the road".

He said: "Five days of falling wholesale costs, with the value of oil coming off the boil, offers hope that pump prices may not get much worse in the short-term.

"However, road fuel priced above 150p a litre grabs the attention of drivers and will lead some to re-tighten their belts on other spending."

The annual 100 fastest growing UK businesses list has been published, with the country's largest electric vehicle fast charging network in top spot.

Environmentally conscious companies dominate the ORESA Growth Index 2024 - with three of the top 10 companies participating in the clean and renewable energy market.

There was also success for the retail sector, with 24 businesses in the list, while the construction and logistics sectors have also seen signs of recovery since the COVID-19 pandemic. 

Topping this year's list is Basingstoke-based green energy business InstaVolt, which had an annual growth rate of 362.55%.

The company is the largest owner-operator of rapid public chargers in the UK, with 1,500 charging points.

In 2022-23, the company's third financial year, its revenues hit £18.6m.

Here's the top 10...

Regional success

While London and the South East dominate the list with 59 companies, Northern Ireland has four - up from zero in the past two years. 

Companies from Yorkshire and Humber and the North East have increased from six to 10 and from zero to one respectively, while the East Midlands has gone down to six from nine in 2023. 

Inheritance tax receipts surged to a record high last year due to the government freezing the threshold at which you start to pay.

Official figures show the government received £7.5bn in inheritance tax (IHT) receipts in the financial year to the end of March - an increase of £400m on the same period the previous year. 

(More widely, total tax receipts were £827.7bn - £39.1bn higher than the same period last year - due in part to inflation and other tax threshold freezes.)

Inheritance tax is a tax on the estate of someone who has died - including all property, possessions and money - and is only charged above the tax-free threshold of £325,000. 

This threshold has been frozen by the chancellor until 2028.

So, with inflation boosting the value of people's estates, more people are being dragged above the threshold.

The standard inheritance tax rate is 40%. 

Jonathan Halberda, specialist financial adviser at Wesleyan Financial Services, says more families "can expect to be caught in its net".

So what can be done to ensure families can keep their wealth? 

Use the inheritance tax spouse exemption

Mr Halberda says if you leave your entire estate to your spouse or civil partner, there will be no inheritance tax to pay - even if its value exceeds £325,000. 

Make a will

Doing this can mean you can distribute assets to take advantage of tax-free allowances. 

"Assets in trusts are no longer in your name and therefore not considered when valuing your estate for inheritance tax," Mr Halberda says. 

Gift giving 

Gifting money or assets to loved ones before you die can avoid inheritance tax, but there are limits on how much you can give away and who to. 

Gifts to charity 

Leaving gifts to registered UK charities in your will is exempt from inheritance tax.

By Daniel Binns, business reporter

The FTSE 100 has hit another all-time high this morning following its record performance yesterday.

The index, of the 100 most valuable companies on the London Stock Exchange, soared to 8,071 points shortly after the opening. It marks a new "intraday" (during the day) record.

Later in the morning, the FTSE 100 eased back to 8,060 points, but was still up nearly 0.5% on yesterday. The score is based on a calculation of the total value of the shares on the index.

It comes after the index reported a record-high closing figure of 8,023 yesterday following a fall in the value of the pound. A lower pound makes it cheaper for foreign investors to invest in FTSE companies.

One of the reasons the pound is falling against the dollar is interest rates are expected to stay higher for longer in the US - meaning investors will get better returns on their US investments.

The strong performance this morning raises the prospect we could see another record close at the end of today's trading.

Danni Hewson, from investment platform AJ Bell, said the figures were "psychologically important for investors and for London markets as a whole" as the capital has been lagging behind its rivals, particularly the US, in recent years.

Among the firms doing very well this morning is JD Sports. The retailer's shares are up more than 7% in early trading following reports that it is set to buy US rival Hibbett for $1.08bn (£0.87bn).

On the currency markets, £1 will buy you $1.23 US or €1.15, similar to yesterday's five-month lows for the pound.

The price of a barrel of Brent crude oil is up almost 1% at nearly $88 (£71) this morning.

Aldi has recalled one of its products and a police investigation has been launched over fears it "may have been tampered with".

The supermarket has pulled its Village Bakery 8 Tortilla Wraps White, citing safety fears over the "possible presence of metal". 

The recall affects items with best before dates up to and including 29 April 2024, and with a pack size of 8x62g.

Anyone who has bought the item is being urged to bring it back to their nearest Aldi. 

Notices have been posted at the stores telling customers not to eat the wraps. 

Aldi said its products go through "rigorous safety and quality checks" and the item was being recalled as a "precautionary measure".

"As there is an active police investigation we are not able to comment any further on this matter at this time," it said. 

The Food Standards Agency (FSA) also said Signature Flatbreads UK, which makes the wraps, is "working with the relevant food and police agencies to investigate the cause of the contamination".

No other items from the company are affected, it said.

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