#5 OUTPATIENT CARE CENTERS - Facilities that don’t require a patient to stay overnight.
Projected: Compounded annual growth rate 3.2% 2019-2029
Inflation-adjusted output: 2019: $122B and 2029P: $168B Source: US Bureau of Labor Statistics (9/20)
Examples: Dialysis Clinics, Family Planning Clinics, Mental health & substance abuse centers
Trend: Medical technology advances and minimally invasive surgeries allow for same-day release (Source: Definitive Healthcare (9/19)
#4 COMPUTER SYSTEM DESIGN - Expertise in IT
Projected: Compounded annual growth rate 3.2% 2019-2029
Inflation-adjusted output: 2019: $518B and 2029P: $712B Source: US Bureau of Labor Statistics (9/20)
Examples: IT consultants, Programming services, Web page development, Video design
Trend: Digital marketing, eCommerce continued growth Source: U.S. Census Bureau (5/21) Statista (2.21)
#3 OIL & GAS EXTRACTION - Business that involves the preparation of O & G up to the point of shipment from the producing property
Projected: Compounded annual growth rate 3.4% 2019-2029
Inflation-adjusted output: 2019: $474B and 2029P: $660B Source: US Bureau of Labor Statistics (9/20)
Examples: Drilling contracts, Integrated Oil & gas companies, Exploration & production companies
Trend: As inflation rises, O & G companies may benefit from increases in princess and possible wider profit margins Source: Barron’s (5/21)
#2 INFORMATION SERVICES - Businesses that publish, research, supply, retrieve information
Projected: Compounded annual growth rate 4.2% 2019-2029
Inflation-adjusted output:2019: $122B and 2029P: $168B Source: US Bureau of Labor Statistics (9/20)
Examples:
Trend: In wealthier Western countries, paid subscriptions of trusted news brands is increasing Source: Reuters (6/21)
#1 SOFTWARE PUBLISHERS - Designing, installing, post-purchase support activities
Projected: Compounded annual growth rate 4.8% 2019-2029
Inflation-adjusted output: 2019: $243B and 2029P: $365B Source: US Bureau of Labor Statistics (9/20)
Examples: Broadcasting, Internet publishing, News syndicates, Web search portals
Trend: Platforms that aren’t watchful of diversifying their revenue streams may be affected by drops in ad revenues Source: Pew Research Center (10/20, Reuters (1/21)
For the full article and infographic from the Advisor Channel, click here: The Fastest Growing Industries of the Future