Whether you are looking to switch careers or trying to figure out what to study in school it can be a good idea to know what industries are rapidly growing. A rising tide lifts all boats after all, and a booming industry means enhanced job prospects for recent grads as well as experienced hires.
Here are the top 10 industries to look out for in 2018.
- Cloud Computing
Cloud computing is out of control, outpacing every other sector of the IT industry. Estimates from the International Data Corporation projected global investment in cloud computing to top $120 billion last year. Amazon Web Services, Google, Microsoft, and Nvidia to a lesser extent, are the big players in this space and estimates are that the total public cloud market will grow to roughly $180 billion in 2018.
Source: Four Quadrant
Bitcoin really exploded in 2017, along with the rest of the cryptocurrency economy. Exchanges like Coinbase and Kraken struggled under the massive influx of users. As the industry continues to gain popularity you can bet that companies will be hiring. Even big companies like Microsoft are looking to add blockchain specialists to their ranks. Watch this space carefully.
- Medical Marijuana
As marijuana becomes legal, you will see business spring up left and right. Washington legalized marijuana in 2014 and generated more than $1.5 billion in sales since then. The legal marijuana industry is responsible for over 120,000 jobs all over the US and nationwide acceptance would make a huge impact – the total market is estimated to be worth $45 billion.
It’s no surprise to see this list dominated by technology industries but one of the fastest growing industries in the US is actually the construction industry. Construction-services companies have grown tremendously in the last year, with many sub-sectors of the construction industry growing at double-digit rates – nearly doubling the overall US-wide average. Engineers and workmen alike, look alive!
Everyone’s got teeth, and apparently they all need work done because the dental services market is booming. As boomers age it makes sense that they would carry this industry in terms of demand.
- Home health care services
This is the fastest growing industry in the healthcare sector. Demand for healthcare is increasing and a shortage of physicians means that the focus is being redirected towards health care aides, registered nurses and nurse practitioners. Job prospects for this segment are extremely healthy and are projected to add 750,000 jobs by 2024.
- Computer systems design
Here we are, the number one fastest-growing industry, beating all other challengers and growing 18% in 2016. Computer systems design refers to integration of computer hardware and software. Specialists in this field connect their clients with the right tools (sometimes customized) to get the job done.
- Food Delivery & E-Commerce
Last year Amazon made waves when they bought grocery giant Whole Foods. This means the grocery and food delivery space are poised for change. Before Amazon absorbed Whole Foods, e-commerce and groceries didn’t really mix well but you can be sure that the Seattle-founded tech giant is going to push the issue. Expect other giants like Walmart and Costco to put up a fight as they all combine to rapidly grow this industry.