The world is changing with every passing day, and new industries are consequently being created. Learn the top five industries set to see massive growth.
Sectors Entrepreneurs Need to Watch
The biggest problem that many young entrepreneurs face is the incredibly amount of industries around the world that have become over-saturated. From entertainment, social networking, blogging, to just providing a simple, original product to consumers; the chances are that if it exists, there is already several business already entrenched in it.
But trends change, and as we move further into the future, new and exciting industries are starting to pop up around the globe. The coming years will see much more choice for those looking to start a new business, and these sectors, in particular, are worth keeping an eye on. While most of them have already been established, it’s believed that these specific industries will be perfect for the starting of new business ventures.
1. Disaster Relief
The world is growing hotter and more polluted, and while governments around the world are working to lower our carbon emissions and protect the environment, there’s enough damage that’s already been done to alter the weather system.
What that means is that we’re now experiencing extremes: long-term droughts, powerful super-storms, and global flooding. Experts believe that the disaster relief industry is going to grow to around $11.2 billion by 2022 from $10.1 billion in 2017.
2. eSports
We’re living in the golden age of live video game competition, and eSports are slowly starting to take the spotlight away from more traditional sports.
They’re fast-paced, thrilling, and provide a competitive medium for professional players and their legions of fans. A recent $970 million acquisition of Twitch by Amazon is a small glimpse into what the eSports scene is likely to become over the next few years.
3. Elderly Care
Despite the global population being at an all-time high, we’re starting to see birth rates starting to drop, especially in countries such as Japan and Norway, and combined with our modern medicine, there are more elderly than ever before.
Experts speculate that the elderly care industry is going to explode within the next 10 years as more and more people enter retirement. It’s believed that there will be a shortage of hospices and care homes for the elderly.
4. Office Upgrades
A change in the way we work is leading to more companies wanting to improve working conditions for professionals.
This ranges from state-of-the-art computers and office equipment, to aesthetic designs aimed to provide comfort and relaxation, especially within environments that tend to suffer from high rates of burnout. Recreation may also become an important factor in the office, where employees will have access to video games, beverage stations, online pokies NZ games, and much more.
5. Influencer Agents
Now that social media is connecting billions of people, the potential of influencing opinion and pushing ads has grown exponentially. We’re seeing an entirely new industry emerge from this growth, with business aimed at turning followers, likes, and shares into cash.
Social media is expected to grow by around 2.2 per cent by 2022, making it an industry worth approximately $10.8 billion.