By Future Tech Business
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.