Smart investment implies staying ahead of the competition and predicting the promising industrial sectors accurately. We have listed the fastest growing industries in 2016 that offer a great investment option.
1. 3D Printing
No other technology has affected the tech world more profoundly than the 3D printing technology. More than 71 percent manufacturers in the US are using the 3D printing technology to optimise their production process while ventures like the restaurant offering 3D printed food are very popular, indicating the promising future of this industry.
2. Wind Power
Quite a few technological advancements have enabled the wind industry to enhance its capability of harnessing the wind energy efficiently. Given the rising global concern about the climate change, wind power industry grew by 22 percent from 2014-15. The projected growth rates indicate an even more impressive industrial progress next year.
3. Legal Marijuana
Ever since Colorado legalised the marijuana industry, the sales have skyrocketed. The sales of marijuana are expected to exceed USD 20 billion by 2020. The industry could witness even more growth if marijuana is legalized in the other states as well.
4. Solar Energy
Today, the solar power industry is worth $3 billion, thanks mainly to the reduction in price and increase in efficiency of the solar panels. Better incentives and increased need imply that solar power will be a dominating industry in the years to come.
5. Video Games
The incredible success of Pokemon Go is a testimonial to the growth of the video game industry. The VR technology will take video gaming industry to new heights with potential applications in the field of medicine as well.
6. AI
Studies indicate that the demand for the smart machines will continue to grow at an annual rate of 20 percent till 2020. Technology giants like Google and Apple are placing their bets on AI, and it appears as if they are on to something here.
7. Sustainable Construction Materials
Green building has depicted remarkable growth, and the industry is currently worth $36 billion. There is a global rise in concern, among the people and the governments alike, about the use of eco-friendly techniques and materials for construction of greener buildings.
Experts predict an annual growth rate of ten percent till 2020.
8. Cyber Fraud Detection
As more data and sensitive information are being stored on computers, the demand for the latest technology to offer protection against the cyber crimes is also on the rise. The projected growth rates indicate 12 percent annual increase in the value of cybercrime detection industry.
9. Drones
From agriculture to the military, drones have taken the world by storm. The bigwigs of the industry like Amazon are toying around with the ideas of the home deliveries made via drones while drone racing is now a “thing”. With the projected growth rate of 17 percent till 2022, drone industry promises a bright future.
10. Silicon
From use in solar panels to electronics and construction material, the use of Silicon is growing every year. The experts predict that silicon demand will continue to grow as the new technologies and industries continue to pop up.
Take a hint from this list and invest your fortune wisely.