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Which Business Sectors Will Grow in Next 5 Years?

The business landscape was always shaped by outside circumstances. In a large number of cases, even the most promising products or best ideas won’t demonstrate any staying power if the market doesn’t seem ready to let that industry branch out.

Keeping that in mind we have to agree that the last couple of years and all they brought along truly did their best to throw the traditional business conventions off the rails, completely disrupt the established patterns, and make the corporate exciting again.

So, after all the turmoil we have to endure and we’ll keep enduring as the years go by, what industries will actually record sustainable growth? Let us try to find out.

Travel industry

Yes, after spending two years being isolated and locked up, the people want to start exploring the world once again. This urge for travel is very real and tangible and should set the travel sector on a healthy 13% growth by the end of 2029. The trend may keep picking up steam even after that point but, as of now, it’s still very hard to tell. Also, we should keep in mind that this trend is not isolated so the sectors like hospitality, food and beverage, local entertainment, and retail industry should see the rise as well.

IT services

The outbreak of COVID-19 forced countless workers to move to remote positions and companies to delegate a growing number of tasks to AI. All these things require a tremendous IT infrastructure and give momentum to already developing workflow automation trends. At this point it is safe to say that the corporate world will never be able to grow back or even purposefully slow down this revolution – the benefits for all parties are simply too great. But, the IT sector will take down the biggest part of the cake.

Oil and gas industry

Fossil fuels have been declared dead tools many times to even begin counting. But every now and then there comes a massive turmoil like the ongoing European crisis that reminds us that these resources make the backbone of the global economy. This realization should keep the petroleum sector on a steady course in years to follow. And since the industry will require an update on the demand for items like durable frac plugs and similar items, the ancillary industries should also see a healthy increase in revenue.

Healthcare industry

The Millennials who still make up the majority of the workforce and, at the same time the backbone of the economy were always seen as the generation that took great care about their personal health, body image, and general fitness. Well, the outbreak of COVID-19 and all other subsequent issues definitely gave these inherent tendencies a new sense of urgency and set the healthcare services on a path of 13% growth by 2030. Similar trends can be expected in sectors like fitness, personal gym equipment, etc.

Green energy

We are, once again, going back to the issues we have outlined in one of the previous sections. So, while fossil fuels still make the foundations of the global energy sector it becomes more evident that some form of alternative or, at least, renewable supplementations are desperately needed. And regardless of the corner of the world you may live in, the investments in renewable, green energy are more present with each passing day. That should give a green eco-friendly energy launch pad for healthy future growth.

Robotics industry

This trend can be very closely associated with IT services we have mentioned before but there are also more than enough differences to give robotics a special shout-out. First, this industry is more holistic and encompasses sectors like mechanics. Second, in this case, the goal is not to help human beings to work more efficiently but to substitute their labor altogether. These days, robotics is crawling its way into sectors ranging from military to personal services and retail and it definitely makes the industry of tomorrow.

So, there you have it – the top six industries that will most likely reap the greatest benefits from issues of modern society and mark the most sustainable growth in years to follow. Of course, you should keep in mind that this is only the tip of the iceberg and the world can always swing in some new unexpected direction. But, as far as we can say, the mentions we gave you above will manage to endure all the trials and tribulations we may encounter further down the road. That should make them the absolute rock stars over the next five years.

Jeff Campbell