Top 10 of The Fastest-Growing Industries in The World

Although the world keeps going through depression and recession, and many industries keep declining in growth, some have been consistently growing. With the continuous technological innovations, such industries always believe they can do better regardless of their past.

There are new industries in Hungary that are taking over from the traditional ones. That is because of the technological advancements from time to time. Considering their trend, they may be the top industries of the future.

We decided to explore the top ten industries that are rapidly growing globally. Our expert, Peter Deli, will also elaborate on what they are doing to be ahead of the rest (you can find more about him here).

Virtual Reality

After its introduction in 1990, most would not predict that it would be one of the fast-growing industries. From the name, you may think that virtual reality is only applicable to the entertainment industry. 

But the fact is, the reality technology is applicable in the military and education sector. Additionally, it’s used in the health sector to help patients with traumatic problems. It’s the future of many Hungarian industries considering how it’s useful in the various sectors currently.

In the industry, virtual reality technologies can be used at all stages of the product lifecycle: from ordering, continuing through the design phase, and ending with sales and after-sales service. The product can be presented to the customer even before it is manufactured. The company’s products, thanks to the use of VR, can be effectively and efficiently demonstrated at exhibitions, in sales offices, and simply in public places. Training specialists using VR devices are much cheaper than using specialized training stands; some experts consider this area to be the most promising.

Others believe that an enterprise can get the greatest economic effect through virtual prototyping of future products, organization of joint design, and remote interaction of specialists.

Casino and online gambling

Over the recent years, the online gambling industry in Hungary has experienced a rapid increase in players’ numbers. Additionally, the rise of covid-19 also led to the growth of online casinos. For instance, the majority of the people in Hungary find it easy to play in magyar online casino because of the convenience.

Renewable energy

Many people from Hungary have shifted to green power, considering the decline in its price. It has become affordable for many. Both solar and wind power have become useful in the majority of companies. Advantageously, the energy is reusable meaning that its sources won’t run out.

Renowned companies such as Samsung committed themselves to use only renewable energy in three major countries-US, China and Europe. That means that the renewable energy market will keep growing into a bigger one.

Bigger organizations such as the EU also aim to have 32% of its energy being renewable by 2030.

Experiments with the conversion of solar energy to electricity on an industrial scale began in 1984, but the main growth in the number of solar power plants has occurred in the last decade. The commercial results of the first solar power plants were impressive enough to drive the massive development of new projects. At the moment, the leader in the production of solar energy is not a solar country – Germany, the total capacity of solar power plants in 2011 is 19 GW. The main increase in German solar power plants was in 2010 and amounted to 10 GW.

Global map of solar radiation, CSP-stations are efficient in the “red” zone, PV-stations are built in the zone with an average radiation of 900-1500 kW / m2

Solar energy is a completely affordable way to provide humanity with the necessary energy resource. But still, its potentialities are still small, in order to completely replace fossil fuels, according to calculations, the world will need: 50 thousand solar power plants of 300 MW each, as well as 3.8 million wind turbines of 5 MW each. According to the International Energy Agency, by 2050 solar energy can provide only 20-25% of the needs of mankind.

Nevertheless, the first significant experience in the construction of solar power plants in 2008-2009 was so successful that new projects with a gigantic capacity, comparable to that of a nuclear power plant, began to be announced. The largest energy consumers in the world are: USA – 21%, China – 16%, India – 6%, Russia – 5%. In recent years, the United States and China have been diligently building up their “solar energy” potential, and India has also announced the construction of a giant solar power plant.

Computer systems and related services

Do you know a sector that does not use computers to run its services? From business to health, computers are useful in making operations efficient. That means that there will be a growing demand for the computer system. Those in the computer maintenance business will also increase as well.

Therefore, according to Forbes, the industry is projected to grow immensely in the US and other parts of the world.

Cargo Airlines Industry

With the increased demand for various products, most of the industries have increased their production capacity. As a result, the cargo airline companies have also increased their carriers. Additionally, they have reduced the courier charges making it affordable for the majority.

Motor vehicle manufacturing industry

Do you know anyone who does not wish to own a car? Probably, those who have had several and are now dreaming of having private jets. However, the majority are dreaming of owning their first cars. 

They are working towards acquiring them, making the manufacturing companies increase their production. It, therefore, becomes one of the fastest-growing industries of the 21st century.

Building and construction

The majority of the Hungarian people want to own homes and businesses. As much as brick and mortar businesses are going extinct, various contractors will experience increased demand.

Many countries, such as Hungary are also looking forward to improving their infrastructure. Therefore, it’s undeniable that the construction industry will grow rapidly in 2021 and the coming years.

Real estate

The majority of the people are looking for both business and residential property to rent and buy. Real estate companies in Hungary are likely to increase to serve the growing demand for property.

Biotechnology

Most people only know that biotechnology can multiply crop yield. However, that’s not the case since it can also eradicate genetic disease, making millions of people grow healthy. 

The industry will grow due to the increased demand for food globally. The health sector will also utilize the technology in treating a particular disease.

Artificial intelligence

Amongst the fastest-growing industries in 2020, artificial intelligence is among the top in the list. The AR concept is useful in various industries. For instance, it’s used in the casino industry in Hungary to create notable gaming equipment that gives the players a better experience.

From the above list, you can realize that many industries will experience rapid growth in the coming years. That means the future is bright.

WE SAID THIS: Tell us your thoughts below.

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