Australia's media companies could be stuck with the market dominance of Facebook and Google, but taxation could be used to make their competition fairer.

That's the view of two University of Sydney academics on the Australian Competition and Consumer Commission's report on digital platforms.

Kai Riemer of the university's business school says the government will find it very difficult to curb the market power of the duo, and that smaller operators, would be unable to provide anything like the same advertising products.

"Using the data that they have on all of us, these companies can offer advertisers a highly targeted product, while other, smaller operators, would be unable to provide anything like the same advertising products."

Shumi Akhtar, an associate professor at the business school, says it will be "decades" before competition between the tech giants and localised businesses could reach an even playing field, but says one mechanism that could be used is a "fair but tailored" tax system. Ensuring tech companies were charged tax in the countries they operate in would lead to "fairness and transparency for other businesses as well as consumers".