Understanding what industry stands a chance to succeed in future is helpful in making investment decisions. No one wants their hard work to do go down in the name of a shoddy investment. Technology has proved to have a great driver of the rise of ‘future industries’ and those that were previously seen to be tech-proof.
Here’s the list of industries with the most optimistic future as suggested by entrepreneurs.
After several high-profile data breaches occurring in the last couple of years, the demand for cybersecurity services is bigger than ever. More enterprises are going to invest in cybersecurity especially with more employees opting for remote or hybrid work. The trend of digital migration must go hand in hand with securing networks to avoid breaches and possible losses in this digital age.
Thanks to Wayne Connors, ACCL!
#2- Federal government contracting
Public sector contracting and more specifically federal government contracting is a cash cow. Let's call a spade a spade. They are the largest purchaser of goods and services in the world! And, during pandemics, national disasters, wars, terrorism events or threats, etc. they spend even more. They are buying from for-profit businesses. In good times and in bad, Uncle Sam is writing checks. It can be a fruitful marriage but it takes a while to get to the alter as it's an uber-competitive marketplace.
Thanks to Jennifer L Schaus
#3- Artificial Intelligence
Facebook and Amazon keep track of our choices and send us the relevant messages as a result. With regular input of client data and a wealth of other data, the machines have begun to learn and acquire their own expertise. Alexa is a good illustration of this. Artificial intelligence (AI) and machine learning are bringing in the next stage of the computing revolution, in which the vast majority of our intelligent decisions will be automated. When the majority of equipment and utility appliances are connected via the Internet of Things (IoT), they will eventually collect more data to process and gain more information to better serve us. As a result, Artificial Intelligence (AI) will be a high-growth industry in the coming decade.
Thanks to Eric Carrell, SurfShark!
#4- Affiliate marketing
Affiliate marketing is the industry that will continue to thrive in the coming years. Everybody is online nowadays, and creating content that could sway people to buy certain products will help you generate income out of the internet. Plus, it's so easy that almost everyone will try it out. This will ensure its growth in the years to come. You don't need to be an expert seller, you just have to be persuasive. It doesn't take much to earn. A simple website full of content for ordinary people is an excellent way to start this venture. Affiliate marketing allows huge businesses to obtain websites to sell their items online in exchange for a small commission. It's the next generation of commission-based sales, and it's here to stay.
Thanks to Abby Drow, Cloom!
Transporting passengers and cargo by land, sea, and air is the responsibility of the transportation industry. Trucks, cars, buses, aeroplanes, trains, and ships are among the vehicles used in transportation. This industry is expanding because, as the world becomes more globalized, individuals will require more dependable and constant transportation. It is estimated that employment for aeroplane pilots will increase by 6% by 2028.
Thanks to Becky Ronalds, Ranking Mom!
#6- Public relations
The public relations industry is set for long-term success. With a rise in influencers and consumer consciousness, more companies will be looking to shorten the gap between them and their buyers. With a growth of 6% in 2019, the PR sector is looking to go from 63.8 billion in 2018 to 93 billion by 2022. A massive amount of growth. The internet is in a large part influencing this trend as the distances between one's favorite brands is as far away as a cellphone.
Thanks to Isaac Mashman, Mashman Ventures!
#7- Artificial Intelligence
AI still has a lot of unrealized potential. Automated processes and intelligent algorithms are quickly becoming non-negotiable for any company to scale. In the next few decades or so, AI will become like salt – an essential ingredient for anyone who wants to start a business. From lead generation to cybersecurity, there is still a lot of ground that AI has to cover in the digital sphere. It is also exciting to see what it still has to offer in areas like medicine, transportation, communication, and entertainment.
Thanks to Jacob Villa, School Authority!
#8- Personal health, and physical care
On the tail end of the COVID-19 pandemic, the personal health industry is quite possibly one of the most optimistic industries in the west. With a greater part of the world beginning to release from a lengthy period of stay-at-home orders and physical inactivity, people are suffering both mentally and physically. Put quaintly, people are in desperate need of optimism themselves, and focusing on their physical health is a large part of this. Additionally, with the growth of work-from-home and freelance jobs, physical activity and care is becoming more desired and necessary for the everyday earner.
Thanks to Jeff Meeks, EnergyFit!
#9- The cannabis industry
As a hemp advocate, I find the trends exciting. There is good reason to believe that states will fall in a domino-like fashion on the issue of cannabis legalization. As more states embrace the product’s legitimacy, the more the stigma around the industry fades. Industry giants and small cannabis business owners alike are bracing themselves for an upcoming surge of newly-opened markets as restrictions start to come off. It’s no exaggeration to say that this will be the new gold rush in the next few years or so.
Thanks to Erin Zadoorian, Ministry of Hemp!
At present, we're witnessing innovative e-commerce trends on on-demand delivery, same-day shipping, and digital payment options that give online shoppers a more immersive experience. These trends get better and better each day, and I think it will be no surprise if the e-commerce industry grows much bigger in the next five years or so.
Thanks to Matt Spiegel, Lawmatics!
#11- IT and cyber security companies
Every aspect of every business now and in the future must invest in this to protect against ransomware and data breaches. The time is now and there will only be more digitization and transmission of data as more companies adapt to the cloud and online platforms. It's definitely a good industry to work in because it's not going away. Probably not ever.
Thanks to Paul Mansur, NXT GEN Technologies!
#12- Analytics and big data
Analytics and big data are quickly becoming one of the most important sectors. From human resources to sales and marketing, its concepts are being utilized in every facet of an organization. A company's competitive edge will surely erode if it refuses to adapt to today's data-driven economy. Skills in analytics are in high demand right now and will continue to be for years to come. Human resource analysts, operations analysts, and data scientists are the fastest-growing jobs in big data and analytics. This is one sector that undeniably shows the most promising future.
Thanks to Olivia Tan, CocoFax!
#13- Digital marketing
As technology continues to develop, the role of digital marketing in the growth of businesses becomes more evident. Whatever industry a company is in, it is undeniable that the companies need digital marketing for online visibility, branding awareness, and establishing credibility. An excellent example as to why digital marketing will continue to prosper is its state during the pandemic. Although the economy continued to drop for most industries, digital marketing was one of the few industries that continued to stay profitable. That said, I can confidently say that the industry is crisis-proof and resilient in future economic crashes.
Thanks to Stephen Light, Nolah Mattress!
#14- Telecom Industry (5G)
With the rapid growth of demand in data transmission rate, the Telecom Industry will most likely have the most optimist future. Recent increase on development of 5G based technologies and supported devices indicate that the demand will only grow if the future. We are already seeing an increase in sales of components for 5g based infrastructure. We can assume that within the next 3-5 years 5G would be the standard for most devices. Because 5g would be able to provide tremendous speed with mobility and reliability.
Thanks to Abby Hao, Clooms!
#15- Online shopping
The eCommerce Industry has undergone a tremendous rise in the past few years, and the pandemic has further magnified it. With the pandemic restrictions continuing, people have been heavily dependent on online retailing markets. In-person shopping is going out of trend as online shopping attracts more and more people, making it the “new normal,” which is foresight to continue to grow in the future.
Thanks to Matt Diggity, Diggity Marketing!
#16- Non-gendered grooming
The non-gendered grooming industry is one that has been recently rapidly growing. With the partnership of covid and the social movement of moving towards a less gender-specific environment, gender-neutral personal
grooming products have recently gained a lot more traction. Men are becoming more invested in their own skincare routines and women are tired of being pushed into the pink and ultra-feminine products. Not only have a ton of small businesses started taking advantage of this movement, but large brands like Gucci, Calvin Klein, and LuLuLemon have started including gender-neutral products into their lines as well.
Thanks to Kathryn McDavid, Editor's Pick!
#17- Real estate
Sooner or later, the pandemic is bound to end. When it does, expect a surge in the real estate industry. Large influxes of people will be returning to the major cities to work, and they will have to rent or purchase a place. Despite shifting work trends, most companies would prefer hybrid work which would still require workers to report to their offices every now and then as opposed to completely remote work.
Thanks to Ed Cravo, Groundbreaker!
#18- The legal Industry
The legal industry has a bright future ahead and people related to it can hope for better financial opportunities. This will be the case due to the availability of high technology alternatives. Nowadays, the organization of files and access to information has been made easier for attorneys. The convenience with which data is being stored in blockchains has made cybersecurity issues, that were once associated with legal industries, a thing of the past. Many law firms are now planning to go paperless and opting to create legal databases which will help in the gathering of information for a case.
Thanks to Tim Davidson, Car Title Loan Lenders USA!
#19- Alternative belief
Many young people are turning to esoterism and alternative belief systems as ways of maintaining and navigating their mental health. Practices like meditation, yoga and mantra are all becoming more popular. Astrology is also becoming a huge part of peoples' lives, as it gives them a way to understand and navigate what is happening in the present moment. With the mindset of many young consumers shifting towards these more personal, deep-rooted mindfulness practices, I believe these industries have a very bright future. People are looking for different ways to find balance and groundedness, especially with what has been happening in the world over the past couple of years. In the past, many people have turned their noses up at esoteric practices, but now they are becoming a major industry! People want to feel connected to themselves and the earth now more than ever, and in return, entrepreneurs are discovering more and more ways to provide these services to consumers.
Thanks to Jeanine Duval, Edelwyn!
The tech industry by and large is very optimistic, however within tech automation companies are looking to a brighter future. There's been so much development in his field over the past few years, and the remote work shift
really brought automation into companies that otherwise would have delayed adoption. We finally have the potential to cut away repetitive tasks and provide more creative tasks to human staff. Think of what we can get done with AI-backed algorithms using automation—the potential is limitless and the future has just arrived.
Thanks to Daniel Cooper, Lolly.co!
#21- Asset management
I am a great supporter of the future of the asset management industry, which is now hugely impacted by blockchain. Many industries are leveraging blockchain technology not only to ensure secure and fast transactions but also to process large volumes of data, minimize the need for intermediaries, and redesign the existing infrastructure. Asset tokenization enabled by blockchain dramatically disrupts the asset management industry at the moment, providing access to every person to be an investor and every small business to be able to raise funds in a fast and simple way. It erases geographical boundaries between businesses and individuals who want to support them.
Thanks to Oleg Kurchenko, Binaryx!
#22- Information Technology
Network and internet system testers, assessors, and maintainers work in the IT industry. Computer support professions, such as computer support specialists at a help desk, are among the fastest-growing in this industry. Due to the need for support services as individuals and companies upgrade and update their computer software and equipment, I predict that IT occupations like these will rise by 12% over the next decade.
Thanks to Bradley Bonnen, iFlooded Restoration!
#23- Fashion and retail
I believe that the fashion and retail world has the most optimistic future. Specifically, we are just beginning to scratch the surface with what it means to create sustainable, deliberate, and conscientious fashion products for customers. Specifically, I believe fashion has a bright future for three reasons: increased research on reusable materials, the continued customer appetite for small-batch collections, and a reinvigorated focus upon what it means to be zero waste.
Thanks to Yuvi Alpert, Noémie!
#24- Blockchain tech
Blockchain technology, without a doubt, seems to be all the rage over the past year, and with good reason. Decentralized finance is emerging, but most importantly, the mass adoption of blockchain is also happening much faster than anticipated. Blockchain technology itself has been around since the days when people first started using torrents. That is, no file is exclusively owned by one person and every transaction must be verified multiple times making it virtually unhackable. So I strongly believe blockchain has an optimistic future as banks and major financial institutions start to overhaul their systems to be compatible with blockchain networks.
Thanks to Jesse David Thé, Tauria!
#25- Influencer Marketing
The pandemic intensified the effect influencers have on the buy of products, due to limited expertise to shop at stores. Social media use dramatically risen during the pandemic and research firms consider this trend will be lasting. As a result, there is an opportunity for brands to employ social media influencers more now than ever. Influencers speak on a more personal level and give their honest review that resonates more with their followers comparable to usual brand advertising. We presume influencers to gain even more popularity and followers and businesses to adopt influencers more than ever before.
Thanks to Shiv Gupta, Incrementors Web Solutions!