As technology advances at an unprecedented pace, a new wave of industries is rapidly emerging, reshaping the global economy and creating fresh opportunities. From renewable energy and artificial intelligence to biotechnology and space exploration, these future-focused sectors are poised to address some of the world’s most pressing challenges. These industries hold the potential for sustainable economic growth and promise to transform our way of life by fostering innovation, enhancing productivity, and driving progress. Understanding these evolving fields is essential for businesses and individuals alike, as they represent the next frontier in a rapidly changing world.
Let’s dive into the future and learn about the fast-growing industries of the future.
RENEWABLE ENERGY:
Renewable energy comes from a source that is not depleted when it is used. Natural elements on Earth provide a powerful source of energy. Examples of renewable sources of energy are wind, solar, Biomass and hydroelectricity.
Wind energy produces electricity by harnessing the power of large wind turbines.
Similarly, businesses can harness solar energy to produce electricity and power various operations by installing solar panels.
According to allied market research, the market of global renewable energy will grow from 928 billion dollars in 2017 to 1.5 trillion dollars by 2025.
2017- $928 billion
2025- $1.5 trillion
INTERNET OF THINGS (IOT) :
The Internet of Things (IoT) connects physical objects embedded with sensors, software, and other technologies to exchange data with devices and systems over the Internet. For example, in smart homes, interconnected air conditioning and security systems can be remotely operated or programmed to work automatically. Grand View Research projects that the IoT industrial market will grow from $264 billion in 2021 to $1.1 trillion by 2028. Similarly, the IoT retail market is expected to increase from $36 billion in 2021 to $182 billion by 2028.
E-LEARNING:
E-LEARNING stands for Electronic learning. It means learning or gaining some form of knowledge using electronic devices. This can be done through various forms – by website, by some application (ex-byju’s), and through seminars. The biggest source of E-LEARNING is Google. The second most prevalent source is YouTube. By far E-learning is the fastest growing industry of the future. With the help of online learning, it is easier than ever to learn any topic which we want from experienced professionals, online learning marketplaces, and educational institutions all over the world. The total E-LEARNING market size was over ₹250 billion in 2020 and is expected to grow to $1 trillion by 2027.
ARTIFICIAL INTELLIGENCE (AI):
When we hear the term artificial intelligence we might think of a world in movies where machines take over the world, Tesla car and its innovative technology and whatnot. Artificial intelligence in easy terms can refer to the ability of computer programs or machines to think and learn. It is also a field of study which puts an effort to make computers smart and mimic humans the way we see things, do things and think. The ultimate aim of AI is to mimic humans and on top of that think on its own and make decisions and make decisions. Machine learning and artificial intelligence will eventually impact every industry over the next several years. The basics help us automate decision-making and problem-solving in specific situations.
The artificial intelligence market will grow from $94 billion in 2021 to $ 998 billion in 2028.
CLOUD COMPUTING:
A few years back most of the companies required a Centred database, lots of processing and Lots of storage to do. Due to this, all companies started facing many problems like underutilization, stability problems and security issues, and money was spent. So, now all these problems can be solved with the help of cloud computing.
With the help of cloud computing, organisations can easily process data, and data storage, automate decision-making, lower IT costs and reduce the need for Hardware purchases and maintenance. For example- Google Drive is one of the famous cloud computing platforms being used by many individuals in everyday lives. The Global Cloud Computing market will close from $266 billion in 2020 to $766 million in 2027.
DRONES:
We must have heard the name of this device in some movies, on the internet or television. It is a flying robot, also known as UAV (Unmanned Air Vehicle). This vehicle can fly in the air without any help from anyone. You can operate this vehicle from the ground using a controlling device. The drone contains GPS sensors which help it to get the direction of location while flying into the sky. It comes in various shapes and sizes depending upon their function, usability and cost. The Global Commercial Drone industry market will grow from $21 billion in 2021 to $501 billion in 2028.
BLOCKCHAIN TECHNOLOGY:
Blockchain is a type of Database. A database is a place where we can store digital data, we have a regular database that stores the images, videos and songs on our mobile and computers. But our computers can be hacked right? Even if we keep our data on cloud storage like Google Drive and other platforms. Still, we can see a lot of cyber attacks happening. Hackers can easily breach bank accounts, social media accounts, and even government servers. Can we solve this mess? That’s when the answer to this question arises in the form of blockchain technology.
Blockchain technology refers to an advanced database that records data, which cannot be edited or deleted once stored, enabling distribution across multiple data servers. Even though it came into existence with Bitcoin. Blockchain has a far-reaching potential outside of cryptocurrency. Blockchain is a shared database that allows multiple parties to access and verify data in real-time. This technology will dramatically affect industries such as healthcare, real estate, finance, and entertainment. The Global Blockchain Technology market will grow from 6 billion $ in 2021 to 395 billion $ in 2028.
CYBER SECURITY:
With the increased use of the internet for a large range of business functions the demand for protecting sensitive information is higher than It has ever been. The Global cyber security market will grow from $180 billion in 2021 to $372 billion in 2028.
NANOTECHNOLOGY:
Nanotechnology is concerned with building materials on the sale of atoms and molecules. This technology will revolutionize the medicine, aerospace, body armour, solar panel, and food industries. The Global Nanomedicine market will grow to $351 billion in 2025. However, the Global Nanomaterials market is still in its infant stage. Blockchain technology is expected to grow from $10 billion in 2021 to $23 billion by 2027.
AUGMENTED REALITY:
Augmented reality is an experience where designers enhance parts of the user’s physical world with computer-generated input. Smartphones, smart watches, glasses and other handheld and wearable devices will provide the bulk of this experience. Augmented reality will take off in the manufacturing, healthcare, and education industries. The Augmented reality market will grow from $27 million in 2021 to $340 billion in 2028.
These industries are booming in 2024.
