Predicting The Fastest Growing Industries Of The Future In 2018 & Beyond

Sometimes, disruptive forces can bring about un-called for changes at an incredible pace. For instance, it was not until after the news broke that Amazon acquired Whole Foods did grocery business owners decide to expand their digital marketing platforms and offer their clients home delivery. Before the bombshell, the few grocers who had considered sweeping changes made adaption a matter of survival.

But even ‘big dogs’ and trendsetters like Amazon can be hit unexpectedly by the unforeseeable. Small changes in government regulation and technological innovation can culminate in significant changes over time, driving unexpected growth in unobtrusive markets. From synthetic lubricants, lawnmowers and security drones to natural sweeteners and luxury vinyl tile (LVT), the industries speeding forward in a short time are also most likely to fly under the radar.

The Future Of eCommerce

The retail mega-giant, Amazon, turned 23 years old on July 5, 2017. It already commands 37 percent of the e-commerce market, and latest projections, put together by Sellbrite, estimate that the chain will be controlling half of the online sales within three years.

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Despite the futuristic advances in new drone service and two-hour delivery, long-term success begins with first knowing the marketing opportunities and potential factors of conflict.

The important acquisition of Whole Foods by Amazon came as a shockwave to the retail world, forcing both startups and online retailers to rethink the future of rapidly converging markets. eCommerce food sales were not expected to rise over 10% per year before the acquisition. Matthew Rolfe, Operations Manager of Freedonia Focus Reports, however, published a study on eCommerce, saying the response from Amazon’s competitors suggested faster progress in the short-term, approaching perhaps 30% per year.

The Fastest Growing Industries Of The Future

The tech and marketing worlds are in constant flux, and new development in the social spheres means we are about to experience an innovative boom across various sectors. Here are six upcoming industries to keep a close eye on in 2018 and beyond.

#3 Family Volunteer Vacations

For a lot of people, a holiday is not just an opportunity to escape everyday life; it is also chance to make a difference in the world. The ‘voluntourism’ industry helps developing countries with service-minded travelers that could use assistance in their mission – think Peace Corp without the two-year commitment.

For example, programs like Discover Corps are causing an industrial disruption by making it possible for families and individuals to experience culturally immersive trips with a 15-day volunteer vacation. The voluntourism industry is growing immensely and rapidly, and as Generation Z is becoming older and having families, volunteer travel may start to compete with a more traditional vacation for these groups.

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#2 Renewable Energy

Renewable energy might not be entirely prepared to eclipse fossil fuels yet, but that day is coming sooner than we think. Over the last ten years, the green energy industry has been gaining steam, following in the footsteps of renewable energy leaders Europe and China. From rooftop solar panels to electric cars, green energy is becoming increasingly mainstream and a part of many people’s lives.

In 2016, the global renewable energy sector employed 9.8 million people – become one of the leading sources of jobs.

#3 Marketing

The marketing niche is spread across all industry sectors including all 4 of the highest growth areas for 2017, Retail Trade, Construction, Technical Services & Healthcare, and Social Assistance. This level of industry growth can make employment predictions challenging to pinpoint; however, if we browse the current collection of marketing sectors, it is clear that majority of them will experience a significant boost in marketing efforts during the coming years till 2022:

• 12% growth in Education and Training
• 10.9% growth in Construction
• For Accommodation and Food Services – 11.2% predicted growth

Social media marketing will continue to grow in significance if 2018 trends in digital strategy and global marketing follow updated patterns of promotion. Two years before the rise in digital marketing training, in 2016 90% of marketers focused on the importance of social media to their business; 63% of them use social media for more than 6 hours a week. This idea suggests that job roles that are important to social media marketing are the job trends to look out for in 2018. Some of them include:

• Market Research and Statistical Services – 19.2% predicted growth
• Internet Publishing and Broadcasting with a 20.9% predicted growth

Individual qualification for communication and marketing exist at Bachelor, Diploma and Certificate level but specific qualifications covering social media marketing are relatively new. Those who have qualifications in marketing and communications at Certificate level may land jobs in public relations sectors, while those who undertake Diploma level social media marketing course can take up positions in digital strategy marketing, CRM pipeline management and as social media consultants.

#4 Financial Industry

According to Vernon Tirey, co-founder, and CEO of LeaseQ, speed is vital in modern banking. As the banking industry seeks to eradicate middlemen like brokers and better serve their customers, we expect the scramble to continue.

Mobile banking may be convenient, but it is another name for ‘mobile cyber attacks.’ John Gunn, CMO of VASCO Data Security, said that all kinds of mobile banking systems face attacks on their client transactions. Even though more clients are susceptible to attacks, approximately 80% of financial institutions are doing online banking, 50% are on mobile, with the latter growing tremendously.

#5 Relying On Robots

Expert retailers expect bots to play a more significant role in supporting transactional operations. One example would be fulfillment centers. Marketing and retail giants like Amazon are investing in robots to help pack and ship items. The platform had robots in about 20% of its fulfillment centers by 2017; the number is expected to grow in 2018.

As more customers comply with instant messaging apps such as WhatsApp and Facebook Messenger, we can expect retailers to use these domains to connect with customers and streamline communications. For example, if a purchaser wants to track their order, they can just ask the shop owner on chatbot to automatically retrieve the shipment information.

Other renowned designers like Victoria’s Secret are using chatbots to showcase their product lines.

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#6 Content Marketing

Content marketing has become an integral part of other digital strategy marketing fields such as social media, SEO, and email marketing. Original content is needed to define a brand, bring in new buyers and create customer loyalty. The growth of content marketing is not expected to slow down in 2018 and is in fact projected to grow.

As the content marketing industry faces a boost, marketers are finding new and improved ways to put their content to good use. It used to be enough for brands to have a blog, however, in 2018, sophistication and creativity will be the name of the content marketing game.

All In All

A range of different fields such as medicine, digital marketing, training, and leisure are poised to attain revolutions and breakthroughs in the coming year. As a business person, if you are interested in any of these industries, now is an excellent time to get involved.

 

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