I’m going to tell you the 15 fastest growing industries of the future. I’ll briefly describe each industry and tell you how huge they’re projected to become according to some reputable research companies.
1. Renewable Energy
Renewable energy is energy from a source that is not depleted when used. Examples are Solar, Wind, Biomass, and Hydroelectricity.
According to Allied Market Research, the global renewable energy market will grow from $928 billion in 2017 to $1.5 trillion by 2025.
2. Internet of Things (IoT)
The Internet of things (IoT) describes the network of physical objects or ‘things’ that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.
Smart homes are a great example where air conditioning and security systems can be interconnected. These devices can be remotely operated or they can work automatically for certain functions.
According to Grand View Research, the Internet of Things industrial market is projected to grow from $264 billion in 2021 to $1.1 trillion in 2028. And the Internet of Things retail market will grow from $36 billion in 2021 to $182 billion in 2028.
E-Learning is by far, the fastest growing industry of the future.
Online learning makes it easier than ever to learn about any topic you want from experienced professionals, online learning marketplaces, and educational institutions all over the world.
According to Grand View Research, the total e-learning market size was over $250 billion in 2020 and is expected to grow to $1 trillion by 2027.
4. Artificial Intelligence (AI)
Artificial intelligence and machine learning will eventually impact every industry over the next several years. They basically help us automate decision-making and problem solving in specific situations.
According to Grand View Research, the artificial intelligence market will grow from $94 billion in 2021 to $998 billion in 2028.
5. Cloud Computing
Cloud computing helps organizations process data, store data, automate decision making, lower IT costs, and reduce the need for hardware purchases and maintenance.
According to Grand View Research, the global cloud computing market will grow from $266 billion in 2020 to $766 billion in 2027.
Drones come in various shapes and sizes depending upon their function, usability and cost.
According to Grand View Research, the global commercial drone market will grow from $21 billion in 2021 to $501 billion in 2028.
7. Blockchain Technology
Even though blockchain technology came into existence with Bitcoin, blockchain has a far-reaching potential outside of cryptocurrency. Basically, blockchain is a shared database that allows multiple parties to access data and verify that data in real time. Blockchain will dramatically affect industries such as healthcare, real estate, finance, and entertainment.
According to Grand View Research, the global blockchain technology market will grow from $6 billion in 2021 and to $395 billion in 2028.
8. Cyber Security
With the increased use of the internet for a large range of business functions, the demand for protecting sensitive information is higher than its ever been.
According to Grand View Research, the global cyber security market will grow from $180 billion in 2021 to $372 billion in 2028.
Nanotechnology is concerned with building materials on the scale of atoms and molecules.
Nanotechnology is expected to revolutionize the medicine, aerospace, body armor, solar panel, and food industries.
According to Grand View Research, the global Nanomedicine market will grow to $351 billion in 2025. But the global nanomaterials market is still in its infant stage and is only expected to grow from $10 billion in 2021 to $23 billion in 2027.
10. Augmented Reality
Augmented reality is an experience where designers enhance parts of users' physical world with computer-generated input. Smartphones, smart glasses, and other handheld and wearable devices will provide the bulk of these experiences.
Augmented reality is expected to take off in the manufacturing, healthcare, and education industries.
According to Grand View Research, the augmented reality market will grow from $27 billion in 2021 to $340 billion in 2028.
Robots are widely used in the automobile industry and manufacturing processes of other industries. It’s also being increasingly used to perform surgery in the healthcare industry.
According to Statista, the global robotics market will grow from $132 billion in 2021 to $209 billion in 2025.
12. Virtual Reality
As you know, virtual reality simulates lifelike situations. Real life use cases include gaming, social networking, education, and on-the-job training.
According to Grand View Research, the global virtual reality market will grow form $22 billion in 2021 to $67 billion in 2028.
13. 3D Printing
3D printing is the construction of a three-dimensional object from a digital 3D model.
Most industries that involve manufacturing are expected to be affected by 3d printing.
According to Grand View Research, the global 3D printing market will grow from $17 billion in 2021 to $63 billion in 2028.
Genomics is an interdisciplinary field of biology focusing on the structure, function, evolution, mapping, and editing of genomes. A genome is an organism's complete set of DNA, including all of its genes.
The most common application of genomics is to understand and find cures for diseases.
According to Global News Wire, the global Genomics market will grow from $24 billion in 2021 to $63 billion in 2028.
15. Data Science
All organizations generate huge amounts of data in the form of documents, text, audio, video, images, and so forth. Data Science involves using prediction algorithms to help those organizations make better decisions faster.
And more and more companies are buying data science software and platforms to automate all of this.
According to Grand View Research, the global data science platform market will grow from $5 billion in 2020 to $26 billion in 2027.
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