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Growing industries of the future

Growing industries of the future

In the past few years, the leaps being made in our entire global economic system are quicker and larger than ever not many economists or tech experts can answer with confidence how they envision the economy 20 years from today as new technologies are prevailing new horizons are being tapped and new industries are being shaped that we never thought of until recently being able to forecast these changes will be the most critical factor in your decision to pursue a certain career or invest in one industry or the other that’s why we thought we should imagine together which way the ship is sailing.

14 Top Industries of The Future:

Internet of Things (IoT)

Growing industries of the future

Billions of physical devices are connected to the internet, collecting and sharing data, around the world. This is known as the Internet of Things

In the past, the internet was the thing that most of us used only when we were on our computers. Then some years ago, it began making it to our mobile phones than our video game consoles, and today we’re heading on a path where we won’t need to say I’m on the internet any longer. Almost everything we use both indoors and outdoors will be on the internet. From our fridges and washing machines to our power supply and home security systems. That’s why knowledge of networks data communication and software will be skills that are needed in pretty much. 

Every single industry out there manufacturing, construction, and service industries will be on a constant search for new internet-based mechanisms to incorporate into their product in order to gain an edge in the market. The tech geeks will become the ones helping operate our entire environment. The internet of things will actually include almost all of the things the internet is so helpful.

 

Artificial Intelligence

Growing industries of the future


Google studies our behavior, Facebook learns our preferences, we ask Siri to find us near places to eat, and we let Amazon guide us through the vast aisles of the digital market. Ever since the machines began acquiring knowledge of their own, they have taken huge leaps towards developing a real human consciousness. Alexa can pour you a cup of water.

Today we’re on the verge of an era where we will move around in self-driving cars work alongside robots. Read books or listen to music that was created by a machine. Some of us are actually doing some of these things already.  

The field of artificial intelligence in the coming decades will become one of the most vibrant arenas for endless experimentation. Data related to our behavior will be collected and the machines will have infinitely more material to learn from. Don’t forget that artificial intelligence is not only a field that is exclusive to computer scientists. We’re talking about creating brains like ours. And potentially ones that will even be way more powerful than ours. They will live with talk to and affect us that makes the field as much a field of interest for computer scientists as it is for psychologists, philosophers, politicians, and managers there will be people to create it others to observe it and ones to decide how we will live with it. 

Cyber Security 

Growing industries of the future

We’ve already talked about two industries that will make our entire existence more and more dependent on computer systems with that we’ll come more vulnerable to cyberattacks. Hackers are already able to access bank accounts, steal classified state information, freeze entire companies completely, and get their hands on our personal information without proper cyber security systems. Though they will soon have potential access to everything connected to the internet which will be almost everything around us our houses, our cars, medical equipment at hospitals. 

That’s why the cyber security industry is our only hope for any real security in the future. And so it will grow all the more important. As more things in our daily lives get connected, this industry is our main safeguard against humanity’s future dreams turning into real nightmares.

Genomics 

Growing industries of the future

Genomics refers to the study of genes of a human body and the interaction of those genes with others and the environment of the person also. A genome is a complete set of DNA of an organism.

15 years ago exactly in 2003, the U.S. founded the Human Genome Project which had begun in 1990 was finally capable of sequencing and mapping the human genetic code. This project cost $3 billion. If things had stayed at that cost the industry wouldn’t carry much hope since not many people would have been willing to enter into something that expensive. But today sequencing a genome can cost just around a thousand dollars. 

Today, the field of genomics is at its highest level of vigor with players like Bill Gates and Google jumping on its bandwagon with billions of dollars in investments with the research being more facilitated genomics is expanded to completely transform our understanding of the human body’s components and our ability to cure and nurture it our safeguard against cancer diabetes and even our hope to quickly adapt our bodies to the sky-high rates of change in our environments in the decades to come all lie in genomics that’s an industry that is expected to become worth more than $20 billion in 2022.

Drones 

Growing industries of the future

Drone technology is now becoming more and more affordable in the same way we just mentioned with genomics in the near past, there were times when drones were only novelty items that most of us only associated with war, and bomb-dropping the missile was just a precaution. Today drones are already becoming central to every day

Non-military tasks like photography, journalism, agriculture, and use for delivery by Amazon, etc. They are used in everything from agriculture to delivering emergency aid for victims of heart attacks. As they keep on gaining some intelligence of their own so it won’t be long before law enforcement agencies start using them for patrol and let these flying hawks identify the bad guys. There’s literally no limit to the potential drone applications.

Robotics 

Growing industries of the future

For several years now more and more warehouses and manufacturing plants have been including robots in their workforce now we have Sophia the Saudi Arabian humanoid that was the first robot to acquire national citizenship and there are robots that are entertaining the seniors in retirement homes in japan very soon we’ll be having robots as our friend’s co-workers and in-house assistants blood on my mat handle it that’s why we now have robot relationship researchers to decide what set of rules will shape our interactions with robots some people might be afraid that robots will one day take over our jobs but if you’re a person working in the vast field of robotics that’s not a fear that you should share. 

Virtual Reality 

Growing industries of the future

Being able to simulate certain situations and environments without the costs and risks of the same experience in real life. It opens up a gold mine of potential applications that we could or could not imagine at the moment. 

The technology of VR is already being used by military forces to train their soldiers. People who are taking driver’s license tests as well as in video games, companies are also using VR to train their employees like Exxon mobile. It uses the technology to train its engineers and field workers on fuel production processes and that’s only the tip of a massive iceberg.

Nanotechnology 

Growing industries of the future

Nanotechnology is a field of study that is conducted at the nanoscale, which is about 1-100 nanometers.

Nanoscience or nanotechnology refers to the field of study of extremely small things and their application. These small things can be used across all the other fields like chemistry, biology, physics, and engineering.

One nanometer is 1/100,000,000th of a meter or 10-9 of a meter.

There are countless ways in which we as a species have our hopes hanging on advancements in the fields of nanotechnology. Today there’s extensive research in the field with applications ranging from medicine to agriculture. The possibilities are being studied regarding how we can use nanotechnology to speed up bone cell growth, the detection of cancer cells, create self-cleaning surfaces, and implement healthier and more efficient irrigation methods. 

All of that says the future of nanotechnology is only pointed in one direction, endless advancements.

Renewable Energy 

Growing industries of the future

For several years a growing number of people are getting into an ever-inflating state of existential panic because of climate change. That is taking place as a result of our two centuries-long use of fossil fuels as our primary source of energy with more people coming to realize the magnitude of the global warming threat. 

Governments, companies and, private individuals are taking steps towards depending on renewable sources of energy like solar, and wind. The internet of things boom is set to further help these plans materialize by facilitating private power supply networks. According to some estimates, renewable energy is expected to fulfill almost 100% of the power supply needed to run the world’s economy by 2050.

Sharing Economy 

Growing industries of the future

We’re moving towards a world where we will barely own stuff anymore. We’re coming to realize that it’s often cheaper and more efficient to rent whatever we can give up on owning h we’re here to serve you with a court-ordered eviction. We’ve been increasingly doing it with car rides as more people are using sharing services like Uber and the same with real estate renting services like Airbnb. 

Today more services are joining that field. New sharing model with apps being built on rental services for household, equipment, office spaces, and even leisure boats. Thanks to smartphones. More people are connected and thus gaining access to these services on both the provider and consumer sides.

E-Learning 

Growing industries of the future

We’re moving to a future that is more dependent on innovation than on formal college certificates. Where the value of your knowledge is based on what you can create and not what degrees you hold. Facilitated by all the technologies, e-learning is definitely the future of education. More people are on the internet than ever before. 

VR technology, artificial intelligence, applications are expanding into our daily lives. They are greatly creating more engaging, customizable, and effective learning experiences that will make e-learning the primary means of education in the not very far future. 

There are various E-Learning platforms that offer to learn on the internet around the globe.

Big Data

Growing industries of the future

Every industry mentioned above is dependent on data in one way or another. Data is what artificial intelligence systems learn from. Increasing the efficiency of our economic decisions will be in the first place a matter of good data. Whoever is able to acquire data and has the proper methods for analyzing it will be a central player in future economic data. Scientists are right now becoming essential players in every arena from marketing to healthcare to politics.

3D Printing 

Growing industries of the future

3d printing technologies now include all kinds of materials enabling individuals to make a home design, manufacture their own spare parts and stationery items. At the same time giving companies new alternatives for construction and car manufacturing. This technology is giving us bright visions of a future where manufacturing is democratized. Possibly, it will be the end of mass production but that’s a bit far-fetched and extra optimistic. 

We know that 3d printing will transform our manufacturing capabilities and costs and will enable us to create our own products in our very own homes. It will also cut a large portion of companies’ construction and manufacturing costs. All we can be sure of is that 3d printing is the tool of our new industrial era. 

Blockchain Technology 

Growing industries of the future

With the bitcoin frenzy that has taken over the world’s financial markets in the past couple of years. We frequently came to hear the term blockchain. It’s the decentralized public ledger mechanism at the heart of cryptocurrencies. But cryptocurrencies are far from their only application. If there is one technology that has the potential to create the decentralized comprehensive ecosystem that will facilitate all of these other industries we mentioned in a more secure and efficient way it is definitely blockchain-based. 

On this technology, there are companies being launched that want to put our finances, research, identity management, and even voting processes on the blockchain.  It’s basically the new face of the internet and innovations in this technology will become among the most valuable contributions. 

Conclusion

So, these were some of the growing future industries that have the potential to change the economic system. But advancement also comes with some adverse effects mainly on people’s living, especially employment. When companies replace workers with a robot, a person and his family will suffer. 

Then what should have been done? 

With changing economic environments, there must be a way to upgrade a worker besides upgrading the tools or machines only. e.g. if a worker is trained to operate the robotic machines then it will be fair instead of firing him off the job.

Therefore, anyone can make to the future economy let us know in the comments what other industries do you think will come to define the upcoming era.

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