With the rise of technology, many new industries have emerged in the market and now each of them aiming for monopoly. So It is a naturally curious topic that which industries are likely to dominate the world in the near future and establish a monopoly just like amazon and microsoft did.
Using my basic economic and statistics skills, I have prepared a list of all the fastest growing industries that will take on our future markets respectively.
The fastest growing industries are –
- Renewable energy
- Space industry
- Gaming industry
- Internet and social media
- E-commerce industries
- Architecture and civil engineering
- Travel industry
- Artificial intelligence
- Digital marketing
- Data industry
Due to improve in awareness and global warming, people are now becoming conscious about their environment and nature. Taking this on advantage many Entrepreneurs like Elon musk are currently investing heavily on Renewable energy , Which is good for both their pockets and Mother Earth too.
The heaviest growing sector in renewable energy too is Solar Energy , Just because It comes from the Space directly into the earth and doesn’t require much maintenance after a solar plant has been established. It is one of the most fastest growing industries too.
Look at this , Exponential growth in Renewable energy over the years.
While there are many conspiracies that space age has 50 more years to come,Statistics show that it already has begun its journey and will be the most promising industry to invest in the near future.
Hooking up more deep into the topic, SpaceX started by Elon musk has already begun a promising figure in the space industry and is earning shit loads of money in launching satellites, not in millions but in Billions.
Look at the tall buildings in the chart for better understanding. Learn more about growth of space industry
You might be thinking, yash that’s obviously seems fake! Biotechnology has a long time to go even to reach to the 100 billion mark, But that’s not the truth, Infact, Biotechnology has already crossed the 700 billion dollar mark and is aiming to become 1 trillion dollar industry , right from thin air.
The fruits that we eat nowadays, and the cereals , all are now products of biotechnology , Scientists nowadays are very busy in developing more and more high yielding crops , This also create a lot of demand for jobs in biotechnology in the near future, So yes , You can take bio + agriculture and aim for high salary jobs.
Though it is not a huge money making industry, It still has employed a lot of people. The gaming Industry has started to skyrocket ever since the launch of online games. Now in all platforms, Games are being developed , With mobile games emerging as the new highly demanded and profitable industry.
According to statistics, Gaming Industry will grow nearly double its size till 2025 and is expected to grow even larger as there is a large scope of development making it into our list of the fastest growing industries.
Internet and social media
Although , It has already become the new reality of this world and the world nowadays runs on Internet and the social media. Social media companies apart from facebook are now experiencing a huge outburst in users as Internet is Being provided to a large and large number of users.
By statistics, Number of Users are yet to grow till this decade and after this decade the growth will likely to remain stagnant and will decline eventually.
E- Commerce Industries
Even though , Amazon has a complete monopoly over the e-commerce business nowadays, Still many Users are joining this industry and This industry is expected to grow even larger till this decade.
After this decade, Just like the social media, This industry is also likely to remain stagnant. The major outbreaks of users are likely to come from developing nations of asia and africa, Which still has some countries without internet access. Read this article on the growth of ecommerce .
Architecture and civil engineering
As World is currently ongoing the development phase, People want both Tough and beautiful designs to make this world a better place than it was before. The people are also becoming artistic and started to admire the beauty of art , therefore the need for architecture and beautiful designs are on a rise.
Also,in the developing nations , a lot of construction work is taking place. By a lot, i really means a lot. So Both architects and Civil engineering are highly in demand indicating that this industry is really taking off and will play a major role in future economies and hence is one of the fastest growing industries.
No matter which era we are living, This industry is never going to die,because it is a human nature to travel to new places. But as incomes of people are started to lift, This industry is also experiencing a major boost as people now are showing willingness to travel to new countries as a part of their vacation.
Speaking of artificial intelligence, I expect probably everyone knew that this was going to be on the list. Talking about the statistics, I don’t think the day is too late when this will become the next big thing.
But still, It has a long way to go to fully evolve into a full time money making industry. Also, some people inspired by the science fiction movies are in huge opposition but since tech companies already started implementing it, we assume that it is safe and will grow.
Apart from the all other industries discussed, Digital marketing is now skyrocketing with more than 40% growth rate per year making it a very progressive field and assuring job security.
But according to some research the growth in digital marketing is mostly short term and is only limited to this decade. The time by the end of this decade, Growth rates will already be stagnant.
Last but not the least in my list. The data industry is also expected to see outbursts of growth in the near future. Its growth has already started and already the data industry is providing a lot of jobs like data scientist and data analyst.
The more the growth in data, the more the jobs this industry will create.