Weekend Homework - Growth Industries to Consider
SCORE Shares Growth Industry Statistics for Budding Entrepreneurs
|Industry Growth Statistics to Consider (photo courtesy of SCORE)|
Our friends at SCORE, in partnership with The Deluxe Corporation Foundation, the nation’s largest network of volunteer, expert business mentors, has gathered statistics into an infographic which identify today’s most promising growth industries for entrepreneurs looking to start a successful small business. Now, before you get excited and rush off, industry growth is just one factor in choosing the best industry for a new small business. Other important considerations can include target market, location and competition. Do some homework and enjoy.
Here's the RundownEat,Drink and be Merry
- Online grocery stores: This shopping option is expected to grow 21 percent annually.
- Chocolate: Chocolate confectionery sales in the U.S. are projected to reach $25 billion by 2019.
- Craft beer: Sales of craft beer doubled between 2009 and 2014 to $20 billion.
Wellness at Home and at Work
- Home health services: Jobs for home health aides are expected to grow by 48 percent by 2022.
- Corporate wellness: Fitness programs and wellness-tracking software are expected to grow 8.4 percent annually.
- Mobile shopping: By 2017, more than half of Americans will use their smartphones to make a purchase.
- Online fraud detection: Cybercrime software is projected to generate $1.78 billion by 2020
- Drone manufacturing: Already a $3.3-billion industry in the U.S., drone design and manufacturing is projected to grow to $82 billion by 2025.
- Biometrics: Body scanning for security applications may grow from $7.7 billion in 2014 to $44.2 billion by 2021.
- Green construction: This industry is expected to generate more than $303 billion over the next three years.
- Translation: The global market for language services and technology will hit $49.8 billion in 2019.
- Pet care: Americans already spend nearly $20 billion per year on pet care, a trend Millennial pet owners are expected to maintain.