Thinking of investing in a business? Find the fastest-growing industries to invest in today so you will be set for the future.
Discover the top 10 fastest-growing online industries for 2024 investment opportunities. Boost your portfolio with these promising sectors!
Knowing what the fastest-growing online industries are is important if you are considering investing in business soon. That way, you can be sure your investment will be set for the future. As expected, technological advancements are driving the growth of traditional industries, with AI leading the way.
Here are 10 online industries to keep an eye on in 2024
Since 2023, industries such as clean energy, AI, finance, and banking appeared as promising opportunities for investors. Mainly because of the rapid growth they had achieved in previous years, economic benefits granted by governments, or due to the fact they were such a breakthrough that they offered unlimited potential for innovation across multiple industries.
Now, these are the fastest-growing industries in 2024.
The ecommerce industry is expected to grow in 2024 and continues to be a major force leading the way for industry innovations. From starting your microbrand and selling products online to providing subscription-based services, and capitalizing on the exciting digital landscape, the industry is offering boundless opportunities. Investing in this industry now could set you up for success tomorrow!
Online education is one of the fastest-growing industries in the healthcare sector and health and fitness industry in 2024 to invest in. Markers estimate that revenue in this industry is projected to reach $269.79 billion by 2031, making it a great opportunity for investors. So get involved in interesting projects or prepare a digital course about that thing you’re such an expert on.
Cooking? Beauty? Marketing? You name it! Build a course, seminar, or tutorial and try out this industry that offers high growth potential and success.
The health and fitness industry is set to skyrocket over the coming years! Between now and 2028, the industry is expected to grow by 172%. It's one of the industries that's currently on a strong upward trajectory and savvy investors are taking notice.
Investing in an early-stage business or starting one of your own within this sector can be an incredibly rewarding option if you make the right decisions. After all, no one wants their money to sit stagnant when it could be making big strides instead! If you're looking for industries that are growing, the health and fitness sector may just be a wise move.
If fast-growing businesses are what you're after, the home improvement industry may be a great investment for the future. With the global demand for DIY projects on the rise, it is no surprise that experts are predicting the market cap to reach $575.5 billion by 2030.
Investing in this industry could potentially open up many opportunities for lucrative returns and offer a platform for creative exploration as well. Much like any other venture, research and planning is essential to ensure success before taking that first step - but with such promising potential, the home improvement industry might just be your ticket to success!
Don’t be left behind - if you’re thinking of investing in a business, consider the industry forecast data pointing at pet care. Pet care is one of the fastest-growing industries in 2024 in which spending only continues to rise. Catering to fur babies could be a great way to protect your future and find success as an investor.
Gaining insights into the industry and researching potential businesses within it will set you on the right path to secure your financial future and capitalize on this industry’s predicted growth.
If you have been looking for an industry to invest in, then travel and tourism would be a great option. With the industry slated to only keep growing and growing, venturing into its market would ensure you a profitable future. The industry has become increasingly robust due to economic developments and growing demand from people looking to explore new regions or cultures. Due to this shift in the consumers preferences, the travel industry has become a good business to invest in if you’re looking for a new opportunity.
Therefore, not only will you get the chance to experience different parts of the world while furthering your portfolio, but also reap financial benefits as the industry continues to expand.
This industry uses technology to enhance the quality of financial services users can access. Though it isn’t, it’s still growing thanks to technological advances, and in recent years with the introduction of AI in this field. It’s expected to see revenue of $51.89 billion in the fintech industry in 2024. Even so, it’s possible that by 2028 this number has managed to be near $70.60 billion.
Learning more about the KPIs of a fintech can help you gain more understanding about the business’s health and in return make an informed decision about the business you invest in. Among the fintech industry, you can find neobanks, digital payments, blockchain, cryptocurrencies, peer-to-peer lending and borrowing, and more. Each one of these companies comes with different risks and challenges, so it’s up to you to choose the one that suits your preferences.
With the increase in cyber threats, the cybersecurity industry is becoming more important. Cyberattacks are not only a concern for governments or enterprises but also for individuals. In 2023, one in every three Americans fell victim to an online financial fraud.
It’s believed that the total value of the cybersecurity market for 2024 is close to $200 billion, and it might reach $315 billion by 2029, turning it into a good business to invest in. What better way to add a promising business to your portfolio and, at the same time, make sure to get the best protection possible for your capital against cyber threats?
Technology is making its way into the real estate business, and it’s becoming a solution to improve efficiency, enhance the user experience, lead necessary changes for a sustainable property, and overall manage to become a smart building. Proptech is expected to have a Compound Annual Growth Rate (CAGR) of 16.5% between 2022-2032.
Since Proptech is relatively new and heavily relies on new technological advances, we can expect it to become one of the fastest-growing industries in 2024 and in the upcoming years. And it must be on your watch as a potential investment for your future portfolio.
We can’t finish this list without AI. Its importance doesn’t rely solely on the fact of being a good business to invest in but on the possibility of being a technology that can offer solutions across various industries. Through the use of AI, companies and individuals can automate processes, improve efficiency, make better decisions, and more. In 2023, AI had a 64.1% market growth and by 2024 it’s expected to reach 22.7%.
Because of the impact that AI has on other industries it shouldn’t come as a surprise that it appears as one of the fastest-growing industries in 2024.
Of course, the growth of industries in 2023 doesn’t just go away from one day to another. Here are some of the industries that were also relevant last year. Recognizing the importance of emerging markets in the investing landscape of 2023 is crucial, as they hold significant potential for future growth.
Due to climate change, clean energy is becoming more important every year. Hence, it shouldn’t come as a surprise that the Inflation Reduction Act (IRA) grants tax incentives to projects aimed at creating clean energy. During its first year, the Act supported 280 programs in 44 states, translating into a total of $282 billion in investments.
With the disruption on the scene of Chat GPT investors have raised the question about what the development of AI means. Not only it can be used as a tool for forecasting possible purchases, but it can also be a potential investment.
The impact of AI on the business landscape is huge since it opens a world of opportunities for the development of new tools across multiple industries that could improve processes, increase production, encourage innovation, reduce risks, and more.
In the last few years, we have witnessed major changes in the banking and financial industry. They have had to step up their game in terms of digitalization as a consequence of consumers’ preferences, new technology development, and new competitors on the horizon. Banks are proving to be capable of staying up with the latest tech trends; even so, they have adopted and developed their own AI to improve operations, decrease fraud risks, and more. By 2022, banks across the globe were able to reach a revenue growth of $345 billion despite the “macroeconomic volatility” from previous years.
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