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14 FASTEST-GROWING INDUSTRIES OF THE FUTURE YOU NEED TO KNOW!

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The advancement in modern technology has brought about a new set of industries that are growing fastly at a pace never seen before. Men are tapping into a new horizon of knowledge, and new industries that we never thought of until recently are evolving more and more. And there is no doubt that these industries have come to reshape the way we think, work and live our daily lives.  

The leaps made in our entire global economic system are quicker and more significant than we have seen. Many economists and tech experts can`t answer with confidence the question of how they envision the economy twenty years from today. 

However, these industries are not just growing fast without reciprocity of growth for the first movers in the space. In recent years, Bitcoin has made more millionaires among the youths than any other investment. That is why riding on the trend of new technology and advancements is very important for anyone who wants to always remain receiving side of the economy. The role of these emerging technologies in tomorrow’s economy is inexplicable.

Find below the fastest-growing industries in the world full of hope for the future.

TOP 14 FASTEST-GROWING INDUSTRIES IN THE WORLD

1. INTERNET OF THINGS(IoT)

In the past, you would hear people say I am on the internet. The internet was something most of us use only on our computers or in an internet cafe. Then some years ago mobile phone internet access became possible, subsequently to our video game console. 

Today we are on the path on which we won’t need to say, I am on the internet again.  Almost everything we use both indoors and outdoor will be on the internet. Our fridges, washing machines, power supply, home security systems, etc. And that is why skills in Networking, Data Communication, and Software will always be relevant in every single industry out there.  

However, the struggle for market dominance will make companies in Manufacturing, Agriculture, Construction, and Service struggle for new internet-based mechanisms to incorporate into their products to gain an edge in the market.  

The internet of things will include almost everything, and the tech gigs will become the ones helping operate our entire environment.     

2. ARTIFICIAL INTELLIGENCE(AI)

Google studies our behaviors, Facebook learns our preferences, we have a series of apps to help us find the nearest place to eat, and Amazon guides us through the vast iOS of the digital market.

Ever since the machines began to acquire knowledge of their own, they have taken a huge leap toward developing a real human consciousness.

Today we are on a verge of an era where we will move around with software driving cars, walk alongside robots, and read books or listen to music that was created by a machine. 

Some of us are doing some of these things already. Can you imagine that there is a  water dispenser powered by artificial intelligence already, which can dispense water by voice command (Aquapur AI Despenser)?.  

The field of artificial intelligence in the coming decades will become one of the most vibrant arenas for analyst experimentations.   

However, artificial intelligence will have more data to learn from since the Internet of Things(IoT) will make it possible for almost everything to be connected to the internet. Thus, more and more data about our behavior will be collected and machines will have more materials to learn from. 

Moreover, the field of artificial intelligence is not exclusive to computer scientists only. We are talking about the possibility of creating brains like ours, and potentially ones that will evenly way more powerful than ours. So, that makes the field of interest to a computer scientist as it’s for psychologists, philosophers, politicians, and managers. There will be people to create it, others to observe it, and some will decide how we will live with it.  

3. CYBER SECURITY

We have already discourse about two among the 14 fastest growing industries to find a future career or whatsoever. Can these industries that will make our entire existence more and more dependent on computer systems operate successfully without welcoming more vulnerabilities to cyber attracts?

Black hat hackers are already able to access bank accounts, steal classified state information, freeze an entire company and get their hand on our personal information. Without a proper cyber security system, they will soon have access to everything connected to the internet potentially. And which will be almost everything around us, our houses, our cars, medical equipment at hospitals, etc.  

That is why the cyber security industry is the hope for any reasonable security in the future. The cyber security industry will grow exponentially as more things in our daily lives get connected.

The Cyber Security industry is the main hope to safeguard against humanity’s future dreams turning into a nightmare.  

4. GENOMICS

Genomics is the study of genes in the human body and their interactions with each other and the human environment. “The Human Genome Project (HGP) was an international scientific research project with the goal of determining the base pairs that make up human DNA, and of identifying, mapping, and sequencing, all of the genes of the human genome from both a physical and a functional standpoint” Wikipedia HGP.

According to the information from NHGRI, the estimated amount for the project was over $3 billion, but the project ended up costing about $2.7 billion.

However, If things have stated that cost, the industry wouldn’t carry much hope since not many people would have been willing to enter something that expensive. And with players like Bill Gates and Google jumping on its bandwagon with millions of dollars of investments. The field of Genomics is at the highest level of vigor.

Besides, with more facilitation of research, Genomics is expected to completely transform our understanding of human body components and our ability to cure and nature them. And in decades to come, Genomics is our safeguard against cancer, diabetes, and even our hope to quickly adapt our body to the rapid changes in our environments.

Genomics is one of the fastest-growing industries in the world today. According to Fortune Business Insights on Genomics Market Size & Growth, Global Forecast [2021-2028], The industry is estimated to grow from USD 27.81 billion in 2021 to USD 94.65 billion in 2028.

5. DRONES

Just like Genomics, Drone technology is becoming more and more affordable. In the near past, there were times when drones were only novelty items that most of us only associated with the military, wars, and bomb dropping.

But today, Drones are becoming a central part of everyday non-military tasks like photography, journalism, and delivery. And without any doubt, Dones is one of the fastest-growing industries in the world today, and its future is bright and clear.

Dones will soon become a hot demand in every area of human endeavor. From Agriculture to delivering emergency aid for victims of heart attacks, war and security services, etc. And as they keep on gaining some intelligence of their own, as they already are, it won’t be long for law enforcement agencies to start using them for a patrol as a flying horse to identify the bad guys. There is literarily no limit to the potential Drone applications. 

Taking into cognizance the economic situation all over the world today,  it’s worthwhile looking for future opportunities in these fast-growing industries to keep our tomorrow secured.

6. ROBOTICS

For several years, many warehouses, and manufacturing plants have been including robots in their workforce. Now we have Sofia, the Saudi Arabia humanoid that is the first robot to acquire national citizenship.

Also, in Japan, there are robots meant to entertain seniors in retirement homes presently. Very soon we will be having robots as a friend, co-workers,s and as in-house assistants. That’s why we now have robot relationship researchers to decide what set of rules will shape our interactions with robots. 

However, some people may be afraid that robots will one day take over our jobs but if you can align yourself with the trend of these fastest-growing industries, that’s not a fear you should entertain. There is no doubt that Robotics is one of the fastest-growing industries in the world. 

7. VIRTUAL REALITY(VR)

Being able to simulate certain situations in the environment by means and without the cost and effect of the same experience in real life opens up a gold mine of potential opportunities that we can or can`t imagine at the moment.

VR  technology is one of the fastest-growing industries in the world and is already in use in big industries like the military for soldiers’ training. Its also used in many countries for testing drivers before issuing them licenses.

Also, some multinational companies like Exon Mobil are already using VR technology in training their employees, engineers, and field workers in on-field production processes. And that is only the tip of a massive iceberg. 

8. NANOTECHNOLOGY

There are countless ways in which we as humans have our hopes hanging on advancement in the field of Nano Technology. Today there is extensive research on the field, with its applications ranging from medicine to agriculture.

The possibility has been studied regarding how we can use Nanotechnology to speed up bone health growth, the detection of cancer cells, and the creation of self-cleaning materials surfaces,  implementing healthier and more efficient irrigation methods. With the fast-growing pace of this industry, there will be endless advancements and opportunities in Nanotechnology in the future.

9. RENEWABLE ENERGY

For several years, a growing number of people are getting into an ever-inflating state of essential panic because of the climate change that is taking place as a result of our long use of fossil fuels as our primary source of energy.

With more people coming to realize the magnitude of the global warming threat, governments, companies, and private individuals are taking steps towards depending on renewable sources of energy like solar and wind.

The Internet of Things (IoT) will be of enormous use in this industry to help facilitate and materialize the private power supply networks.  “It’s possible to switch to a fully sustainable global energy landscape within the next 30 years, according to research. Greater geographical connectivity of solar, wind, and hydropower, can reduce energy use and cut costs.”Johnny Wood, Senior Writer, Formative Content [2 Mar 2020]

There is no doubt that we are heading in the direction where almost all energy consumption in the world will be from a renewable source to save humanity from self-destruction. 

10. SHARING ECONOMY

We are moving toward a world where we will barely own any stuff anymore.  We are coming to realize that is often cheaper and more efficient to rent whatever we can’t use only.

We have been increasingly doing it with car rides as more people are using sharing services like Uber, and the same with real estate renting services like Airbnb. More and more services are joining the new sharing economy model. And different apps are now available for rental services, household equipment, office space leasing, leisure boats, etc.   

Thanks to smartphone companies for making it possible for everybody to connect to the internet everywhere. Thus, gaining access to these services for provider and consumer are very easy now.

11. E-LEARNING

As we shift towards the future, we are more dependent on innovation than on formal college certificates to get what we need in our society. The value of your knowledge is based on what you can create not what degrees you hold. 

E-Learning is one of the fastest-growing industries in the world, and without any doubt, it’s the future of education.
With more people on the internet than ever before, and with VR technology and Artificial intelligence application expanding into our daily lives, creating more engaging, customizable, and effective learning experiences will make E-Learning the primary means of education in no time.

12. BIG DATA

You probably have noticed that almost every industry we have mentioned is dependent on data, in one way or another. Data is what artificial intelligence systems learn from, and increasing the efficiency of our economic decisions will be a matter of good data. 

If you can acquire big data, and be able to interpret it accurately, you will have a huge role to play in the future economy. Right now, Data scientists are already becoming central players in every arena, from marketing, healthcare, and politics.  This industry is at a fast-growing pace, anyone who wants to be relevant in the market in the future should think about it twice.

13. 3D PRINTING

With the increase in the knowledge of 3D printing technology as far from being just a functional or aesthetic prototype to being suitable for industrial production (addictive technology), new alternatives are open to individuals and companies in construction, manufacturing, consumer products, etc.

This technology is giving us bright visions of a future with the possibility of decentralized manufacturing. Will it be the end of mass production? Possibly, but that’s a bit farfetched and extra optimistic.

What we are seeing is that 3D printing will transform our ways of manufacturing and cost.

3D printing is going to make it possible for us as individuals to create our products in our homes. It will also cut a large portion of company construction and manufacturing cost. All we can be sure of is that 3D printing is the tool of our new industrial era.      

14. BLOCKCHAIN TECHNOLOGY

With the bitcoin frenzy that is taking over the world financial market in the past couple of years, we came to frequently hear the term blockchain, a decentralized public ledger mechanism at the heart of cryptocurrencies. But cryptocurrencies are far from their only applications.

If there is any technology that has the potential to create a decentralized ecosystem that will efficiently and securely accommodate and facilitate communications among these fast-growing industries mentioned so far, it’s blockchain. Based on this technology are companies being launched that want to put our finances, research, identity management, and even voting processes on the blockchain. 

Blockchain is the new phase of the internet and the fastest-growing industry in the world.

Conclusion

We walk you through the top 14 fastest-growing industries in the world. These industries carry a bright hope for the future as they are the instruments of tomorrow’s economic and industrial activities.

Finding a career or investing in any of these industries could put you at the center of the opportunities that these industries will bring in the future. Feel free to comment below for any observation or contribution.

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