There are many reasons why it’s important to be on the lookout for various industry trends. You see a growing industry affects everything it touches, ranging from the job market all the way to the global economy.
For an aspiring entrepreneur, this can create a unique opportunity, while for a person looking for a career path, this can provide some lucrative options. All in all, there are more than several growing industry trends that are expected to make a splash in 2023, and here are seven of them.
One of the fastest growing industries in 2023 is the healthcare industry, which is getting transformed with all the development in the field of AI. Trends like robot-assisted surgery, virtual nursing assistants and AI-assisted diagnostics are just some of the examples.
The digital transformation in healthcare is a serious trend, seeing as how, nowadays, as much as 47 percent of all healthcare organizations are already using patient data for purposes of predictive analytics. This is a trend that’s not only saving lives but also making a massive profit saving for a myriad of companies in this industry.
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2- Personal Coaching
Even though this would have seemed quite impossible in the past, the truth is that, at the moment, U.S. personal coaching industry tops $1 billion, which is a sizable portion of the total $9.9 billion that is total for the self-improvement industry. This means a number of things. First, the number of coaches is growing, which is a trend that could seriously disrupt the overall job market.
The average coaching income is also on a massive increase. In the future, however, if this trend keeps growing, we might see a bit heavier regulation of the industry.
3- Influencer Marketing
Influencer marketing is already a term on everyone’s lips, nonetheless, things might pick up the pace in the nearest future. According to some surveys, more and more businesses may start increasing the influencer marketing budget or at least allocate more of their resources to this particular marketing trend.
All of this is mostly due to the fact that influencer marketing boasts with a much better ROI than numerous other digital marketing methods. As far as the platforms go, Instagram and YouTube are still predominant and are bound to stay so in the future.
In the past, some were worried about the future about the construction industry, due to the fact that it failed to attract the millennial workforce in sufficient numbers. This, however, is bound to change in the future due to numerous innovations in the field. First of all, the field itself will integrate more technology in its development, which is bound to make it more appealing to the millennial and generation Z audiences.
Second, there are more and more agencies out there specializing in one particular task, thus making it a lot easier for construction startups to make it. For instance, instead of having to own your own scaffold or a boom lift, you could find a reliable scaffolding agency to collaborate with.
5- Drone Industry
One industry whose appearance on this list may seem a bit surprising is the drone industry. However, when speaking of growth, it would be outright irresponsible to leave it out. You see, by the year 2018, the total number of drones sold in the U.S. was at about 1.1 million, whereas this number has exceeded 2 million in 2022 alone (so far). This means a lot for a number of industries, especially retail and manufacturing of drones.
6- Travel & Hospitality
Another relevant industry for this list is none other than the travel and hospitality industry. As always, the United States, Spain, and China are top international destinations. Needless to say, this creates a lot of jobs and exports to the countries in question.
As for transportation, this industry alone is so tightly intertwined with the hospitality industry that it’s impossible to even analyze them separately. One more thing worth talking about is the issue of personalization of the travel during the booking process, which mostly depends on the travel brand in question.
Last but in no way least important is the security industry that, nowadays, comes in two different forms. First of all, we need to talk about data security, due to the fact that 1 in 30 people might become a victim of identity theft this year. This makes people more than willing to invest in cybersecurity. Other than this, the traditional security (locks, surveillance systems, etc.) are also a formidable industry.
With smart monitoring systems and high-tech devices, these two forms of security are nearly impossible to separate from one another. As the trend of IoT (internet of things) keep evolving, the line between them will get blurrier and blurrier.
Concluding it all
As you can see, some of the industries on the list were more than expected while there are others that are expecting their debut at the top of the list. Other than just being dominant in 2023, they are also expected to keep expanding in years to come. Either way, each of these industries alone is more than worth keeping an eye out for, even for those who don’t have a direct connection to them.