Globalization and technological advancements have transformed business climate by introducing new industry trends. This creates new investment opportunities while also reinforcing and transforming the existing ones. However, some of these opportunities are nothing more than just investment bubbles; fleeting opportunities that are hurtling dangerously towards rough and thorny patches. Shifting through these fleeting opportunities with the view of zeroing in on growing industries is usually difficult. But with due diligence and proper analysis of industry growth trends, it is possible to spot industries with sustainable growth momentum and brighter future prospective. The following are some of the steps to take in order to identify industries with rapidly growing trends and hence are suitable to invest in.
a. Carrying out Industry Analysis
By studying the industry growth trend history, it is possible to make projections on its future growth prospects. Industries with sustainable growth momentum and with opportunities for product and potential customer expansion are usually suitable for investment.
b. Carrying due Diligence
Due diligence is aimed at studying the credibility of the growth figures of any industry including its past, current and projected growth figures. This is because some industry players may intentionally create growth bubbles, which may burst leaving investors reeling from financial losses.
c. Studying Consumer Trends
Having a proper insight into consumer behavior including saving and purchasing powers can help in determining rapidly growing industries and how sustainable such growths are.
Based on these analysis, below are some of the rapidly growing industries that positive future prospects as investment options.
1. Green Energy
There is an upsurge in use and application of green energy not only in the United States but globally. Wind and solar power are increasingly being used to generate electricity with many countries, industries and organizations progressively adopted green energy. Additionally, industry trends show that technicians jobs in the industry is projected to increase by over 100%.
2. Physical Therapy
All trends including stock market performance by physical therapy companies, occupations and profit margins show a sustainable growth momentum. Indeed, many organizations are increasingly adopting physical health and wellness programs such yoga and gyms or sponsorships for such activities into their human resource management strategies.
3. Virtual Reality
The introduction of new, high-end gadgets into the virtual industry has caused a technological revolution currently being felt beyond the industry. Virtual reality has transformed the business climate in various industries including gaming, education and health among others. Current and future industry trends show tremendous increase in revenues, market size and industry worth.
4. Education Technology
Technological advancement has also revolutionized the education industry with the sector increasingly adopting digital technology. Software and technologies for personalized real-time learning, planning and performance tracking are increasingly becoming popular. Trends show an increase in revenues, products and uptake, which is expected to hold steady over the years.
5. Video gaming
The industry’s growth is increasingly being driven by two factors: consumer sales and technological advancements and innovations. Virtual reality has introduced virtual experience for gamers; a trend which is expected to grow rapidly in the coming years.
6. Translation and interpretation industry
The rapid growth of globalization has led to increased demand for personalized communication and content from global consumers. Therefore, the demand for multilingual individual capable of translating more than just culture is increasing; a linguistic trend that is expected to hold, albeit at a rapid rate.
William Doonan is a tax law and legal expert in Bronx, NY.