Several industries are expected to boom this year, according to industry analyst forecasts, while others could see revenues fall by as much as one-quarter.

IBISWorld has released a list of the industries predicted to rise and fall over the next 12 months and below is a brief summary of the top five industries noted as winners and losers:

On the Rise :

  • Ridesharing services are tipped to grow by 81.7%
  • Australian liquefied natural gas (LNG) production is also set to grow sharply, up by 39.3%
  • Local organic farming, up by 18.2%
  • Software publishing, up by 11.5%
  • Foreign banks operating in Australia, predicted to grow by 10%

On the Decline :

  • Hardest hit will be diamond and gemstone miners, with revenues set to plunge by 24.2% this financial year
  • Hydro electricity generation in Australia is predicted to decline by 20.9% in 2018-19
  • Black coal mining is facing a fall in revenues of 14.2%
  • Toy and game retailing is also expected to suffer a 15.9% decline in revenue
  • Manufacturing of butter and some dairy products is going to take a hit in 2018-19, declining by 7.7%

Read more at IBISWorld