Tech Industries-11 Fastest Growing In The World
Tech Industries - 11 Fastest Growing In The World
Tech industries are constantly emerging and growing, presenting new opportunities and driving change in the global economy. In recent years, advancements in technology have accelerated the growth of these industries, making it difficult to predict where the economy will be 20 years from now. With the rise of new technologies and horizons, it’s essential to stay informed about the fastest-growing tech industries. This knowledge can be valuable for making career and investment decisions.
Genomics
The US-based human genome project starting in 1990, was finally capable of sequencing and mapping the human genetic code. They spent three billion dollars on this project. If things had stayed at that price, the industry would not have had much hope because few people would have been willing to invest in something that expensive.
Today, sequencing a genome can cost around a thousand dollars, which is significantly cheaper. Currently, the field of genomics is at its most active, with billions of dollars in investments from players such as Bill Gates and Google. As research becomes more accessible, genomics has the potential to transform our understanding of the human body’s components and our ability to treat and nurture it.
Genomics is our defense against cancer and diabetes and our hope for quickly adapting our bodies to the sky-high rates of change in our surroundings in the coming decades. We expect this industry to be worth more than $20 billion by 2023.
Artificial Intelligence (AI)
Google tracks our movements, Facebook learns our preferences, we ask Siri to locate nearby restaurants, and Amazon guides us through the huge aisles of the digital market. Since machines started learning for themselves, they have made huge strides toward developing true human consciousness. Today, we are on the verge of an era in which we will travel in self-driving cars, work alongside robots, and read or listen to music created by a machine.
In the coming decades, the field of artificial intelligence will become one of the most vibrant realms for endless experimentation. As the internet of things connects everything, more data about our behavior will be collected, and machines will have an infinite amount of material to learn from. Keep in mind that artificial intelligence is not just a field for computer scientists. We’re talking about creating brains that are similar to ours, and possibly even far more powerful.
They will interact with us and have an impact on us. As a result, computer scientists are as interested in the field as psychologists, philosophers, politicians, and managers. There will be those who design it, those who observe it, and those who decide how we will live with it.
Robotics
For several years more warehouses and manufacturing plants have included robots in their workforce. Now we have Sophia, the Saudi Arabian humanoid who was the first robot to be granted national citizenship. There are also robots in Japan that entertain the elderly in nursing homes. Robots will soon be our friends, coworkers, and domestic helpers.
To determine what set of guidelines will govern our interactions with robots, we now have researchers who specialize in robot-human relationships. Some people may be concerned that robots will one day take our jobs, but if you work in the enormous field of robotics, you should not be concerned.
Big-Data
You may have noticed that almost every industry we mentioned is dependent on data in some way. Artificial intelligence systems learn from data. Improving the efficiency of our economic decisions will require, first and foremost, good data.
Whoever can collect data and analyze it properly will be a key player in the future of one of the biggest tech industries. Data scientists are increasingly important players in every industry, from marketing to healthcare to politics.
Cyber Security
We’ve become more vulnerable to cyber-attacks. Hackers can already gain access to bank accounts, steal classified state information, completely freeze entire companies, and collect our personal information. Without effective cyber security systems, they will have access to almost everything around us that is connected to the internet. Everything from the furniture in our homes to the medical gear in hospitals.
This is why the cyber security industry is our only chance for proper security in the future. It will become increasingly important as more aspects of our daily lives become linked. This industry of all tech industries, is our primary defense against humanity’s future dreams becoming actual nightmares.
Internet Of Things
In the past, we only had access to the internet when we were on our computers. After that, some years ago, we got access to the internet via our mobile phones and video game consoles. Almost everything we use inside and outside will be accessible via the internet. Everything, from our refrigerators and washing machines to our power supplies and home security systems.
As a result, knowledge of networks, data communication, and software will be required in almost every industry. The manufacturing, construction, and service industries will be on the lookout for new internet-based mechanisms to incorporate into their products regularly. The tech geeks will be in charge of running our entire environment. Almost everything will be included in the internet of things.
Virtual Reality (VR)
The ability to simulate specific situations and environments without incurring the costs and risks associated with the same experience in real life opens up a gold mine of potential applications that we could or could not imagine.
Virtual reality (VR) technology is already being used by the military to train its soldiers and by people taking driving tests and video games. VR is also being used to train employees by companies such as ExxonMobil, which uses the technology to train its engineers and field workers on fuel production processes.
Nanotechnology
There are numerous ways in which we as a species have staked our hopes on advances in nanotechnology. Today, extensive research is ongoing, with applications ranging from medicine to agriculture.
The possibilities for using nanotechnology to accelerate bone cell growth, detect cancer cells, create self-cleaning surfaces, and implement healthier and more efficient agricultural methods are being investigated. All of this potential indicates that the future of nanotechnology is in only one direction: infinite advancements. This is one of the most complicated tech industries in the world.
Drones
Drone technology is becoming increasingly affordable. Drones used to be just novelty items that most of us associated with war and bomb dropping. Drones are already becoming commonplace in non-military tasks such as photography, journalism, and Amazon’s use of them for delivery.
We will use drones in everything from agriculture to delivering emergency aid to heart attack victims in the future. It won’t be long before law enforcement agencies start using them for a patrol as they continue to gain intelligence of their own. The potential applications for drones are virtually limitless.
E-Learning
With more people on the internet than ever and VR technology and artificial intelligence applications expanding into our daily lives, e-learning is undoubtedly the future of education. Creating more engaging, customizable, and impressive learning experiences will position e-learning as the primary method of education in the not-too-distant future.
Renewable Energy
People are experiencing an ever-increasing sense of existential danger because of climate change. As more people become aware of the gravity of the global warming threat, governments, businesses, and individuals are taking steps to rely on renewable energy sources such as solar and wind.
The internet of things boom is expected to accelerate the realization of these plans by facilitating private power supply networks. According to some estimates, renewable energy will provide nearly 100% of the power required to power the world’s economy by 2050.
