You can make many intelligent investments in the modern economy, but not all industries or opportunities are created equal. This article discusses five industries to invest in that are projected to grow over the next few years. These industries have strong growth rates and will be incredibly lucrative with rising global trade.
1. Cybersecurity
Cybersecurity has recently become one of the most important and rapidly growing industries in the technological field. It has also been identified as an essential but growing field that needs better protection as hackers’ attacks become more sophisticated. Its importance lies in its relation to a mobile device and mobile OS security, cloud security, internet security, IT device security, etc. If you are looking for a field to invest in that will be relevant for the next two decades or more, cybersecurity is the place to go.
2. Recycling
The world recycles paper, glass, aluminum, and plastic materials. This can be a lucrative business venture for those living where recycling is in high demand. An article published by the New York Times discusses how people make money using old plastic bags from Target stores. Many people can sell or trade these bags for profit.
One of the main drivers of this industry is China’s move from fossil fuels to renewable energy sources. China is estimated to invest over $360 billion in renewable energy over the next several years, which should further boost the industry’s growth.
3. Vaping
The vaping industry has become quite possible in the last few years, especially with the younger crowd. The younger generation favors vaping over smoking because vaping has multiple flavors to choose from, and you can choose the ingredients to vape. As this practice becomes more popular, the market for vaporizer products like liquids and atomizers will grow exponentially.
4. Fashion
The fashion industry is growing. More and more people are starting to get into the idea of buying secondhand clothing to save money and reduce their carbon footprint. As more people become aware of this trend, it will grow stronger. Furthermore, many well-known brands have started collaborating with up-and-coming designers online to sell cheaper products directly to their customers.
5. Green Energy
Another growing field is the green energy industry which has seen a massive increase in profit over the past couple of years. The world’s population continues to grow, and we contribute to climate change whenever we use a new energy source. The alternative energy industry offers greater environmental benefits that companies can leverage their profit margins. It is also on the verge of becoming a multi-billion dollar industry with the rising demand for clean and safe power. If you were planning to invest in an industry that will be relevant for another 20-30 years, investing in the alternative energy industry would be a good choice.
Many industries are expected to grow over the next few years. If you want to make a living without working hard to get your business off the ground, consider investing in one of these five fast-growing industries.
