Industries change. It is a global truth as real as the Earth turning and leaves changing. Predicting which industries will expand and which will disappear is a bit less defined, though. Some sectors have kept pace with the changing landscape of the global market while others are the disruptors of the economy.
You must keep your finger on the pulse of these businesses so your company grows with the times instead of vanishing at the dusk of your industry.
Health care and manufacturing are two sectors that consistently run an uphill trend. Now, the health care industry is taking its traditional offerings to the digital world. Health care’s traditional services are being made more accessible to a larger population with mobile technology. For example, doctors’ visits are being conducted over video chat, prescriptions are being delivered via smartphone app requests and mental health sessions are being conducted on smartphones. This expansion of the client base is one of the reasons that the health care industries continues to thrive, and without a significant increase in cost.
Manufacturing has always had a strong footing as an industry. It seems to be set to make another increase as the internet allows manufacturers to interface with customers globally, blending the supply chain mix. In the past, vendors, consumers, and customer care fell under different departments with the manufacturer juggling each section’s satisfaction. Now manufacturers use their web presence to educate the consumer, to network between all of the players and ultimately develop a new platform of opportunities for the future.
Making a Name
The internet is no longer the new kid on the block. However, some of its applications are becoming potentially prosperous businesses. The internet of things (IoT) is the interconnected network of all of the devices that people can control via the internet.
Drone technologies and 3-D printing are hot spots on the IoT because they are remote ways of moving an item from one location to another. For example, a 3-D manufacturer can develop an idea on the west coast and send it to a printer on the east coast. The completed device can then be placed on a drone for local delivery. Not only do these businesses have the potential to flourish, but they may be changing the face of the way people do business.
New on the Scene
A disruptive innovation is one that is so new that it creates its own novel market. Wind power is a good example of a disruptor. According to the United States Bureau of Labor Statistics, wind turbine service technician is the job with the highest potential growth. It is expected to increase 108 percent in the next eight years. As part of the green sector, this booming industry is more than economic. It represents a shift in the culture and the way people think about the world.