Industries Projected To Experience Impressive Growth In The Next 5 Years

(TFC) – As decades of advancements and innovations have shown us, market industries can grow exponentially in a short period of time. With the utilization of technology and breakthrough research, the future is going to be no different. Some industries will continue to experience impressive growth over the next five years due to many variables and factors. Here is a list of five industries which are projected to experience impressive growth over the next five years.

Virtual Reality

Companies, individuals, and businesses are just now experiencing the potential capabilities that virtual reality has to offer. The opportunities are endless for organizations to utilize and implement virtual reality into everyday business operations. For example, virtual reality can be used to test products, watch movies, play games, test drive cars, and can even be used in the medical industry as a treatment in rehab facilities. The potential for virtual reality is vast and majorly untapped. The industry has significant projected growth over the next five years. In that given time, breakthroughs in technology could allow for even future advancements in virtual reality.

Medical Marijuana

This industry has been booming the past decade with projected growth for the next five years. Research and development have proven many benefits of medical marijuana. With the industry experiencing frequent breakthroughs in treatments, medical marijuana will only continue to grow exponentially over the next half-decade. Nations all over the globe are seeing advancements in the use of medical marijuana which will only increase its growth. An article published by claims the industry is poised for exponential future growth. Job growth alone for medical marijuana is evident that the industry is positioned for this growth. Job growth for the medical marijuana industry grew by 447% alone, which is a structure for future industry growth.

Dietary Supplements

As medical advancements continue to beat expectations, the dietary supplement sector will follow suit. Dietary supplements are diverse products which include powders, tablets, energy bars, drinks, etc. People desire a way to be healthy and efficient. Dietary supplements fit that requirement. According to research estimates, its value will go up to a whopping CAGR of 9.6% from 2016 until 2024. The results of dietary supplements are becoming more evident with in-depth research and development which benefit the sector immensely. With the technology and future marketing campaigns, the dietary supplement sector can aim to benefit and grow exponentially in the next five years. The global dietary supplement sector is projected to experience impressive growth soon.

Drone Technology

Drones are another sector which is projected to grow over the next five years. People and businesses alike are only now beginning to harness and witness the potential drones have to offer. There are a vast amount of opportunities to use drones. Government agencies, law enforcement, search and rescue, art and leisure, photography, inspecting, are all examples of organizations which utilize drones. Drones serve a purpose for our future society. The industry is expected to experience impressive growth in the near future. According to the Consumer Technology Association, 2.4 million personal drones were sold in the U.S. in 2016. This is significant because that is double the number of drones sold in 2015. The public is seeing the potential benefits and capabilities of owning a drone. Technology is spurring advances in drone sophistication and capabilities which will only enhance the projected growth of the industry over the next five years.

Artificial Intelligence

Artificial intelligence is already becoming evident in our lives through technological advancements. Examples of artificial intelligence include imbedded concierge services in our smartphones and home devices which respond to questions, search the web for answers, and keep notes. This relatively new technology is experiencing advances and being used in various industries. As software for the artificial intelligence industry continues to innovate and advance, the potential for the industry to be an important part of our daily lives is a possibility. Artificial intelligence is an industry which helps other industries grow. It can be used for production by increasing the capabilities of machines. The technology is being expanded into nations all over the world to improve production and overall efficiencies of organizations.

These five industries have all the makings to experience growth over the next five years. They are already seeing exceptional growth, but their growth trend to come could be quite impressive.