Industries of the Future

Goals

To educate teens on future opportunities, understand the industries that are shaping the world today and those that will be prominent in the next 20 years, as well as understand industries that will likely be disappearing. The geographic focus should be Europe but if global insights are found that are also relevant to Europe that is acceptable.

Early Findings

  • Inc. identified eight industries that people should start a business in 2019. The industries were micromobility, digital therapeutics, CBD products, personalized nutrition, healthy jerky, baby tech, selfie services, and workleisure apparel.
  • Using statistics from Crunchbase, Startupxplore identified the five hottest startup sectors in Europe as fintech, cleantech, software, hardware, and mobile.
  • The Bureau of Labor Statistics (BLS) published a report of the "fastest growing and most rapidly declining wage and salary employment." The fastest growing sectors were home health care services, outpatient care centers, individual and family services, other information services, and offices of other health practitioners. Since three of the five are in the health space, it seems likely that this is a growth industry for the future.
  • The most rapidly declining sectors according to the BLS report are tobacco manufacturing; federal electric utilities; apparel, leather and allied product manufacturing; communications equipment manufacturing; and manufacturing and reproducing magnetic and optical media.
  • In October 2018, Fundera published an article ranking the top business sectors for growth in the next 10 years. The sectors are technology, health, energy, media, consumer retail, construction, hospitality, finance, real estate, and transportation.
  • There is a great deal of data on high growth sectors but since it is not all consistent, it will be difficult to definitively choose the "best" industries for the next 20 years. Based on the data collected so far, technology, health, and transportation seem like safe bets for broad sectors.
  • Fundera named the top subsectors in technology as cloud computing, machine learning/AI, and big data.
  • The top subsectors in health according to Fundera are biotechnology, health data management, and personalized health.
  • Autonomous vehicles, electric vehicles, and smart cities are the three strongest subsectors in transportation.

Proposed next steps:

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