Whether you want to keep up with global business trends, or you’re looking for a smart investment, these 5 booming industry sectors are the future!
Let’s start with…
1 – Renewable energy.
With prices dropping steadily, clean power is becoming more & more affordable. And since sources won’t run out, the market, already worth $1.35 billion, is growing FAST. Global investment in renewable energy is estimated to hit $228.3 billion in 2018! Asia alone is responsible for 58% of the global new installed capacity in 2018, costing over $115 billion of investment in the solar, wind, and biomass sectors.
2 – Cybersecurity
As the world goes online, so do cyber thieves. In 2017, in the UK alone, there were 4.7 million cyber crime cases. Cyber security is now in such high demand, that experts predict that the global market will be worth $165.2 billion by 2023. The military cyber security market is expected to grow 3.63% from $12.5 billion in 2018 to $17.8 billion by 2028., while the industrial market, worth $13.78 billion in 2017, is estimated to reach $22.98 billion by 2023 (8.9% growth).
3 – Biotechnology
Biotechnology is improving so many industry standards in so many ways, from generating higher crop yields to curing genetic diseases, dealing with pollution or creating clean energy. The market size was valued at over $330.3 billion in 2015, and is expected to exceed $775.2 billion by 2024. Biopharmacy held the largest market share in 2015, with a revenue of over $199 billion. Based on region, North America holds the dominant position in the market today.
4 – Virtual reality
Virtual reality is not just used for entertainment purposes, it is used by the military, in sport & medicine as a training aid and even in mental health! The size of the industry has been practically doubling each year, from being worth $6.1 billion in 2016 to $14.1 billion in 2017. The Global Market is expected to reach $49.7 billion by 2023, which is a growth of 58.54%. North America is also in the top position worldwide!
5 – Artificial intelligence
Last but not least, AI is becoming a huge part of our lives. Around 72% of business leaders worldwide believe AI provides a business advantage, and investment in R&D is constantly growing. The global market, worth $21.46 Billion in 2018, is starting to reflect this. The AI market is expected to reach $190.61 billion by 2025, a growth 36.62%. The main pioneers today are located in China, Singapore and Hong Kong.