Our world is changing faster than ever, and the world of business is changing too. Innovation, new laws and updates to existing technology disrupt the status quo. This environment creates opportunity for tremendous growth. While developments may begin in one sector, they often spill over into other areas, creating growth across the entire economy.
The following industries are expected to experience a boom in the coming years.
Cars and SUVs are still the most popular ways of getting around. However, there’s growing interest in transportation methods that are better for the environment. Shared bicycles and motorized scooters are eco-friendly alternatives to cars for short trips.
Called micro mobility, this young trend focuses on those who need a short ride to work or to a public transportation stop. Even big auto manufacturers have recognized the appeal of this transport method.
In August 2018, Ford announced the purchase of Spin, an electric scooter-sharing company. Bird and Lime already operate in over 100 U.S. cities. As this industry grows, cities will look to provide secure travel lanes and safety legislation.
Computers that learn about the world and modify their behaviors will create opportunities in nearly every business sector. This cutting-edge tech is expected to
disrupt multiple large industries.
- Healthcare- Artificial intelligence is already being used to screen patients in emergency rooms, to analyze lab samples, and to predict the actions of proteins and medicines.
- Social Media - The largest social media companies already use AI tech to suggest new connections, provide news updates and even attractively crop photos.
- Marketing - Chatbots, those pop-up message boxes that offer online help to customers, will use AI to learn consumer behavior. Natural language systems will adjust to customer’s communication styles and become more effective at encouraging sales. AI-powered systems will learn to predict customer behaviors to build loyalty and increase revenue.
The telecommunications industry is always growing. Demand for connectivity is vast, and 5G coverage is poised to become the new standard in wireless communication. The networks using this new resource will have unprecedented capacity and speed.
5G provides high capacity but low penetration, which means wireless companies will be able to serve a large number of customers in a small area. Because the signals don’t travel well through areas with lots of buildings, companies will need many small cells to transmit signals in large cities. This demand will benefit those who build and sell the equipment.
To take advantage of 5G’s speed, users will need phones that can handle the systems. This need will spur demand for new devices, and that demand will benefit phone manufacturers and sellers.
Cars and trucks will need increased connectivity as vehicles become more self-reliant. The 5G networks will let automobiles communicate with each other, traffic signals, and other devices. Gaming will become even more immersive with virtual reality experiences that rely on 5G’s speed and capacity.
According to CNBC, the legal marijuana industry is expected to add 340,000 jobs by 2022. The medical field creates most of this demand. If more states permit the recreational use of marijuana, the need for more product will grow even faster.
In addition to growing in number, jobs in this field are becoming more specialized and include titles such as dispensary manager and budtender. More specialization should lead to more quality and efficiency in production and sales. Those with scientific training can earn the highest salaries.
Even if marijuana laws don't change much, vendors and other workers in the field will see great opportunity for growth in the next few years.
Experts believe the growth created in these industries will provide work and investment opportunities. Those who find ways to educate themselves and take action will position themselves for success.