There have been some big changes in the last decade to how we live, work, move and eat. These changes are the result of new technologies, shifting legislation and growing climate change awareness. Some industries have not just grown as a result of these changes, but exploded. From artificial intelligence to lab-grown meat, this post explores 10 examples of industries that are absolutely booming right now.
Artificial intelligence
Once a futuristic buzzword, AI has now become an essential part of many people’s everyday lives. This technology is able to learn quickly from masses of data to perform tasks that previously required human intelligence. This includes translating languages, drawing images and writing text. Behind the scenes, artificial intelligence is also helping to detect fraud, detect health problems and conduct pharmaceutical research. AI’s evolution has been rapid (an annual market size growth of 30%) and has been the subject of a lot of controversy (especially when it comes to artistic and military uses). It’s shaken up every other industry and made the future very uncertain with some predicting it will lead to a utopian society, while others think it will lead to Skynet…
Weight loss injections
10 years ago, the brand ‘Ozempic’ didn’t exist - and now it’s worth $22.3 billion! Weight loss injections, which use artificial appetite suppressant hormones like semaglutide, have completely disrupted the weight loss industry by providing an alternative to diets and gym memberships. What began as medication for diabetes is now readily available to millions as a remedy to obesity, helping to boost self-confidence and help many struggling people achieve a healthy weight. While questions about the long-term side effects remain unanswered, demand is continuing to increase year on year and shows no signs of slowing.
Electric vehicles
EVs are no longer just a curiosity, but the future of all road travel. In just a decade, they’ve been transformed from low-range high-price novelties to impressive high-performance vehicles that can compete directly with traditional cars. Governments around the world have announced future bans on pure-petrol cars, helping to accelerate the phasing out of these traditional vehicles in exchange for electrics and hybrids. Costs will need to fall and range will need to increase to make electric vehicles truly accessible for all, but this day already seems close.
Cannabis
The cannabis market was still largely illicit a decade ago, but many regions around the world have since introduced measures to legalize it for medical and recreational use. This has led to a flood of innovation that resulted in countless new strains and products. Consumers that don’t want to smoke it can now choose from a huge range of edibles and pharmaceutical grade formulations. Extracts like CBD have meanwhile provided an alternative way to experience the benefits of cannabis without the high. It’s an industry that’s projected to keep growing, even if some countries and states continue to stubbornly outlaw it.
Athleisure
One of the biggest fashion trends of the last 10 years has been ‘athleisure’ - the blurring of ‘athletic’ gymwear and casual ‘leisure’ wear. Examples include leggings, sweatpants, hoodies and sneakers that are designed for both lounging around and exercise. This clothing sector’s market value has tripled since 2016, changing the way everyday people dress and forcing traditional fashion houses to alter their collections. How long will this fashion trend last? It’s hard to say, but for now, baggy joggers are the new skinny jeans.
Wearable tech
Smartwatches and fitness tracker bands are becoming universal gadgets alongside smartphones, tablets and laptops. They were already fairly popular prior to a decade ago, but now they’re everywhere. New advancements in technology have made them much more sophisticated at tracking things like steps, heart rate, blood pressure and sleep patterns. Industry experts expect a 13.6% annual market growth from now until 2030.
Crypto assets
Cryptocurrencies and NFTs have had a very dramatic last few years. Beginning with the launch of Bitcoin in 2009, cryptocurrencies emerged as a digital currency alternative to get around foreign currency transfers. They soon became an investment instrument and in 2016 the price of Bitcoin rose to $500. Now the price of 1 Bitcoin is over $60,000 (although currently plummeting in value during the writing of this post)! An entire industry has been set up around the trade of cryptocurrencies. NFTs (non-fungible tokens) have meanwhile emerged as a digital version of collectibles that can only be purchased using cryptocurrencies.
Solar power
In an attempt to fight climate change, the world has been moving away from fossil fuels as an energy source, looking towards renewable energy sources instead. Solar energy is one of the top choices right now and this has led to a fast growing solar industry. An increasing number of homeowners and business owners have been installing solar panels on their properties in order to reduce their energy bills and lower their carbon footprint. Massive solar farms are meanwhile making mains electricity greener. Other renewable sources such as wind power and hydroelectricity are also receiving increased investment.
3D printing
3D printing has become a powerful manufacturing tool that has allowed complex parts to be produced cheaply and more easily. It’s not the rare piece of machinery that it was 10 years ago - hobbyists are now owning 3D printers and even selling their own art pieces and crafts. 3D printing has also had a huge impact on areas like medical prosthetics, architectural models and mechanical engineering.
Lab-grown meat
This one is technically on the cusp of exploding as it’s not widely available to the public yet. However, it’s an industry that’s been getting a lot of investment and it’s already found its way into a few restaurants around the world. Designed as an alternative to real meat, lab-grown meat doesn’t require any animal to be killed and is instead produced by growing cells. Farmers have been up in arms about this potential new threat to their livelihood, while other critics have questioned its unnaturalness. Meanwhile, supporters see it as an ethical source of protein that could completely change our relationship with animals for the better. Would you give it a taste?
Once a futuristic buzzword, AI has now become an essential part of many people’s everyday lives. This technology is able to learn quickly from masses of data to perform tasks that previously required human intelligence. This includes translating languages, drawing images and writing text. Behind the scenes, artificial intelligence is also helping to detect fraud, detect health problems and conduct pharmaceutical research. AI’s evolution has been rapid (an annual market size growth of 30%) and has been the subject of a lot of controversy (especially when it comes to artistic and military uses). It’s shaken up every other industry and made the future very uncertain with some predicting it will lead to a utopian society, while others think it will lead to Skynet…
Weight loss injections
10 years ago, the brand ‘Ozempic’ didn’t exist - and now it’s worth $22.3 billion! Weight loss injections, which use artificial appetite suppressant hormones like semaglutide, have completely disrupted the weight loss industry by providing an alternative to diets and gym memberships. What began as medication for diabetes is now readily available to millions as a remedy to obesity, helping to boost self-confidence and help many struggling people achieve a healthy weight. While questions about the long-term side effects remain unanswered, demand is continuing to increase year on year and shows no signs of slowing.
Electric vehicles
EVs are no longer just a curiosity, but the future of all road travel. In just a decade, they’ve been transformed from low-range high-price novelties to impressive high-performance vehicles that can compete directly with traditional cars. Governments around the world have announced future bans on pure-petrol cars, helping to accelerate the phasing out of these traditional vehicles in exchange for electrics and hybrids. Costs will need to fall and range will need to increase to make electric vehicles truly accessible for all, but this day already seems close.
Cannabis
The cannabis market was still largely illicit a decade ago, but many regions around the world have since introduced measures to legalize it for medical and recreational use. This has led to a flood of innovation that resulted in countless new strains and products. Consumers that don’t want to smoke it can now choose from a huge range of edibles and pharmaceutical grade formulations. Extracts like CBD have meanwhile provided an alternative way to experience the benefits of cannabis without the high. It’s an industry that’s projected to keep growing, even if some countries and states continue to stubbornly outlaw it.
Athleisure
One of the biggest fashion trends of the last 10 years has been ‘athleisure’ - the blurring of ‘athletic’ gymwear and casual ‘leisure’ wear. Examples include leggings, sweatpants, hoodies and sneakers that are designed for both lounging around and exercise. This clothing sector’s market value has tripled since 2016, changing the way everyday people dress and forcing traditional fashion houses to alter their collections. How long will this fashion trend last? It’s hard to say, but for now, baggy joggers are the new skinny jeans.
Wearable tech
Smartwatches and fitness tracker bands are becoming universal gadgets alongside smartphones, tablets and laptops. They were already fairly popular prior to a decade ago, but now they’re everywhere. New advancements in technology have made them much more sophisticated at tracking things like steps, heart rate, blood pressure and sleep patterns. Industry experts expect a 13.6% annual market growth from now until 2030.
Crypto assets
Cryptocurrencies and NFTs have had a very dramatic last few years. Beginning with the launch of Bitcoin in 2009, cryptocurrencies emerged as a digital currency alternative to get around foreign currency transfers. They soon became an investment instrument and in 2016 the price of Bitcoin rose to $500. Now the price of 1 Bitcoin is over $60,000 (although currently plummeting in value during the writing of this post)! An entire industry has been set up around the trade of cryptocurrencies. NFTs (non-fungible tokens) have meanwhile emerged as a digital version of collectibles that can only be purchased using cryptocurrencies.
Solar power
In an attempt to fight climate change, the world has been moving away from fossil fuels as an energy source, looking towards renewable energy sources instead. Solar energy is one of the top choices right now and this has led to a fast growing solar industry. An increasing number of homeowners and business owners have been installing solar panels on their properties in order to reduce their energy bills and lower their carbon footprint. Massive solar farms are meanwhile making mains electricity greener. Other renewable sources such as wind power and hydroelectricity are also receiving increased investment.
3D printing
3D printing has become a powerful manufacturing tool that has allowed complex parts to be produced cheaply and more easily. It’s not the rare piece of machinery that it was 10 years ago - hobbyists are now owning 3D printers and even selling their own art pieces and crafts. 3D printing has also had a huge impact on areas like medical prosthetics, architectural models and mechanical engineering.
Lab-grown meat
This one is technically on the cusp of exploding as it’s not widely available to the public yet. However, it’s an industry that’s been getting a lot of investment and it’s already found its way into a few restaurants around the world. Designed as an alternative to real meat, lab-grown meat doesn’t require any animal to be killed and is instead produced by growing cells. Farmers have been up in arms about this potential new threat to their livelihood, while other critics have questioned its unnaturalness. Meanwhile, supporters see it as an ethical source of protein that could completely change our relationship with animals for the better. Would you give it a taste?
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