Four Industries That Are Seeing Amazing Growth This Year (Bet You Can’t Guess Number Four!)

If you are into investing, knowing about the sectors which are seeing maximum growth this year is crucial. Based on those predictions, it becomes easier to invest money. While it is important for investors to know which fields are thriving, it is also important for entrepreneurs to know the same. Entrepreneurs who are planning to start a new business might find it helpful to know the predictions of the year. So, here is a list of the top sectors that are currently in demand and booming, and one of them might be a huge surprise! A hint: foodies will definitely rejoice!

AI And VR

The Artificial Intelligence and Virtual Reality industries are undoubtedly on the rise. Initially, virtual reality was only associated with video games to give players a heightened and unique experience. With time, the equipment used for VR have lower cost which, in turn, gave a new boost to the industry. Because of this, VR is used not only for gaming anymore. Businesses have incorporated it as one of their tools. Even relevant sectors like healthcare, marketing, and education are utilizing virtual reality for efficiency and further studies.

Another technology that has made its way to the spotlight is Artifical Intelligence or AI which has seen similar growth. It was previously used in the military sector only for flying drones. Rumor has it that Amazon has been planning to deliver parcel via drones in the near future. Several other industries are embracing AI as well. It has been predicted that the AI and VR industry will come to $7 billion by the end of this year.

Autonomous Vehicles

Self-driving cars are all the rage right now. Elon Musk had predicted back in 2015 that by 2018, autonomous vehicles will hit the road. Though he was partly right, work is still ongoing to make these vehicles ready for the road. Waymo, Google’s subsidiary company, has already launched vehicles in the USA for testing purposes. Though there have been news of accidents, experts are confident that with new technology, these vehicles might have zero accident reports. Several other companies are coming up with their own self-driven cars – Toyota, Honda, Volvo, and BMW have already jumped the bandwagon. Despite terrible pressure on these car companies, it has been estimated that it will grow more than $80 billion from what was originally calculated.

Solar Energy

Pollution, increased use of non-renewable energy, use of plastic – all these are leading to a world that might be dangerous for the coming generations. The good news is that people across the globe have already realized it and are putting efforts into coming up with safer, better alternatives. Campaigning for eco-friendly industries and use of renewable energy is on the rise. Solar energy is playing a major role in this. Governing bodies are making tight regulations on oil drilling, hence, companies are looking for an alternative source of energy. Builders and homeowners are also using solar panels in order to make eco-friendly houses. With the increasing demand and the cost-efficient models, there is a chance that the clean energy sector will see a huge boost this year. Predictions are that the sector will see businesses go up to $1.8 billion.

Food Trucks

So here is our surprise at number four! If you had thought the hype about food trucks was just that – a hype – you were wrong! Seems like these mobile eateries are here to stay and make a good deal of money. When food trucks first started rolling down the streets of big cities, they were mostly thought of as places to grab quick snacks, or even a full meal. But it fell in the fast food category. However, it has come a long way from its days of ice cream and hot dogs. Did you know that some food trucks even serve lobster and a glass of prosecco? Well, now you know. Think of it as a simple restaurant on wheels! In just about a year, some restauranteurs reported that they have earned about $500,000. In fact, revenue generated from food trucks went up to $2.7 billion in 2017. Looks like more and more people prefer the diverse food choices and the convenience of food trucks over restaurants, contributing to the industry’s rapid growth.

Follow these industries and their growth throughout the year, and you will know exactly where to put your money or your ideas!