Industries change. It is a global truth as real as the Earth turning and leaves changing. Predicting which industries will expand and disappear is a bit less defined, though. Some sectors have kept pace with the changing global market landscape, while others have disrupted the economy.
It would be best if you keep your finger on the pulse of these businesses, so your company grows with the times instead of vanishing at the dusk of your industry.
Health care and manufacturing are two sectors that consistently run an uphill trend. Now, the health care industry is taking its traditional offerings to the digital world. Traditional healthcare services are being made more accessible to a larger population with mobile technology. For example, doctors’ visits are being conducted over video chat, prescriptions are being delivered via smartphone app requests, and mental health sessions are being conducted on smartphones. This expansion of the client base is one of the reasons that the health care industry continues to thrive without a significant increase in cost.
Manufacturing has always had a strong footing as an industry. However, it seems to be set to increase as the internet allows manufacturers to interface with customers globally, blending the supply chain mix. In the past, vendors, consumers, and customer care fell under different departments, with the manufacturer juggling each section’s satisfaction. Now manufacturers use their web presence to educate the consumer, network between all players, and ultimately develop a new platform of opportunities for the future.
Making a Name
The internet is no longer the new kid on the block. However, some of its applications are becoming potentially prosperous businesses. The internet of things (IoT) is the interconnected network of all devices that people can control via the internet.
Drone technologies and 3-D printing are hot spots on the IoT because they are remote ways of moving an item from one location to another. For example, a 3-D manufacturer can develop an idea on the west coast and send it to a printer on the east coast. The completed device can then be placed on a drone for local delivery. Not only do these businesses have the potential to flourish, but they may be changing the face of the way people do business.
New on the Scene
Disruptive innovation is so new that it creates a novel market. Wind power is an excellent example of a disruptor. According to the United States Bureau of Labor Statistics, wind turbine service technician has the highest potential growth. It is expected to increase 108 percent in the next eight years. This booming industry is more than economic as part of the green sector. It represents a shift in the culture and how people think about the world.