5 Industries Experiencing Double-Digit Growth Over The Next Decade
Our entire global economic system has recently seen larger and quicker advancements than ever before.
Few technologists or economists can confidently describe how they see the economy 20 years from now.
As new technologies take hold, previously unimagined boundaries are being explored, and new industries are taking shape.
The most important consideration in deciding whether to follow a certain job or make investments in one area over another will be your ability to predict these developments.
For this reason, we decided to use our collective imaginations to determine in which direction the ship is headed.
So here are the next 5 emerging industries.
1. Internet of things
Most of us utilised the Internet in the past only while we were using computers, which was a limited use of it. Then, a few years ago, it started appearing on our cell phones, and then our gaming consoles.
And right now, we’re moving towards a direction where we won’t even need to announce, “I’m on the Internet,” anymore. I did not anticipate that.
Nearly everything we use, both inside and outside, including our refrigerators, washing machines, power supplies, and home security systems, will be connected to the Internet.
Networking, data transmission, and software knowledge are therefore talents that will be required in virtually every industry.
The manufacturing, building, and service sectors will constantly look for innovative Internet-based methods to incorporate into their products in order to obtain a competitive advantage. The people that operate our entire environment will increasingly be the tech nerds.
When fully implemented, the Internet of Things will encompass virtually every aspect of the existing Internet of Things.
2. Artificial intelligence
Google tracks our habits. Facebook collects data about our preferences. We ask Siri to direct us to restaurants nearby, and we let Amazon lead us around the extensive digital market’s aisles.
The machines have made enormous strides toward achieving a true human consciousness ever since they started learning for themselves.
We are currently on the cusp of an era in which we will travel in autonomous vehicles, collaborate with robots, read computer-generated literature, and listen to computer-generated music.
Some of us are already engaged in some of these activities.
In the ensuing decades, artificial intelligence will grow to be one of the most active areas for unending experimentation.
In addition, the Internet of Things will allow for the collection of an ever-increasing amount of data about us and our actions, providing machines with an unprecedented amount of data from which to learn.
Keep in mind that AI isn’t just a computer scientist thing; we’re talking about building artificial minds that can think and reason much like ours, if not better.
They will interact with us, talk to us, and have an impact on us, making this area of study interesting to computer scientists just as much as it is to psychologists, philosophers, politicians, and managers.
There will be some who will make it, those who will watch it, and those who will decide how we shall coexist with it.
Two industries that will increasingly rely on computer systems for our entire existence have previously been discussed.
We will be more susceptible to cyberattacks as a result. Hackers are already capable of gaining access to bank accounts, stealing sensitive government data, entirely shuttering entire businesses, and obtaining our personal data.
However, if sufficient cybersecurity measures are not taken, they may soon have possible access to nearly everything around us that is connected to the Internet, including our homes, cars, and hospital equipment.
Because the cybersecurity sector is our only remaining hope for any kind of real security in the future, its significance will only increase as more aspects of our daily lives become interconnected.
Our main defense against the visions of humanity’s future becoming actual fears is this industry.
The United States-based Human Genome Project, which had been underway since 1990, successfully sequenced and mapped the human genetic code 15 years ago, in 2003.
The $3 billion project’s price tag. There wouldn’t be much optimism in the sector if customers knew how much goods will cost before they committed, so a price tag like that would have been disastrous.
However, the cost of genome sequencing now is only about $1,000. The area of genomics is currently at its most active period, with major players such as Bill Gates and Google investing billions of dollars into the sector.
The ability to treat and care for the human body is radically transformed by genomics thanks to the expansion of research and improved research infrastructure.
Genomic research holds the key to preventing diseases like cancer and diabetes as well as to helping us quickly adjust our bodies to the astronomically fast rates of environmental change that will occur in the coming years.
In 2022, it’s anticipated that this sector would be valued more than $20 billion. Only a year from now will be that.
Drone technology is currently getting more and more accessible, much like genomics, which we just described.
Drones used to be merely novelty devices that the majority of us mainly connected with conflict and bombing missions in the recent past.
This one was purely for safety’s sake. Today, drones are already playing a significant role in routine non-military operations including journalism, photography, and Amazon’s use of them for delivery.
But all four drones will be employed in the future, for everything from agriculture to providing life-saving assistance to heart attack victims.
As they continue to develop their own intelligence, as they already are, police forces will soon begin employing these avian hawks in patrol duties and relying on them to identify criminals. The potential uses for drones are practically endless.