InsightsSuccess
Subscribe Now!
Get A Chance To Feature In Magazine By Submitting Your Interview Today!
No Result
View All Result
InsightsSuccess
  • Home
  • Industry Insider
  • Magazine
  • Franchises
  • Blog
  • Conferences
No Result
View All Result
InsightsSuccess
No Result
View All Result

5 of the fastest growing industries

fastest growing industries

As the world braced itself for the covid-19 pandemic, the lockdowns implemented in its response had serious consequences on world economy. Many businesses shut down, whereas many businesses rose to unprecedented heights. The demand for many non-essential goods and services saw a heavy drop, meanwhile the demand for many essential products, services and amenities expectedly went up.
Industries like the airlines, casino and gaming, leisure facilities, oil and gas drilling and the auto parts and equipment industries saw their demands drastically reduced, causing detrimental impacts on stock performance, and raising future viability concerns. At the same time, other industries saw their demand go up and stocks rise astronomically.
Following is the list of the five fastest growing industries:

  1. Respiratory ventilator manufacturing

Revenue growth (2019-2020) = 54.8%.
Products produced by the same have long been a staple of the global healthcare sector. As hospitals across the world faced a shortage of respiratory ventilators, causing industry operators to rapidly increase production. Manufacturers from outside the industry have adopted to divert their resources to be able to produce ventilators. The big names in the ventilator production market made strategic partnerships and expanded employments to keep up with the rising demands of the market.
Now this industry stands at a respectable market size of $4 billion.

  1. Military shipbuilding and submarines

Revenue growth (2019-2020) = 6.8%
Over the years the global shipbuilding and submarines industry has expanded, tempered by pressured defence spending in Europe and US. Western governments make up the largest market for the industry operators, which design, build repair, maintain, and overhaul naval vessels. The covid-19 outbreak is not likely to have a significant negative effect on the industry in 2020, and the industry revenue currently expected to increase 5.7% over the year. The recent geopolitical tensions between major nations have brought national security to the forefront of government policies. This boosted industry performance, despite abated growth during the beginning of the pandemic.

  1. Public relations agencies 

Revenue growth (2019-2020) = 6.3%
The global public relations market is expected to grow from $93.2-95.9 billion in 2019 to $96.2-97 billion in 2020, at a compound annual growth rate (CAGR) of 0.4%. This low growth rate can be attributed to the lockdowns implemented in countries due to the covid-19 pandemic and steps taken to contain it. However, the market is expected to bounce back and grow at a CAGR of 7% from 2021 to 2023 and reach $117.8 billion. 

  1. Music production and distribution 

Revenue growth (2019-2020) = 6.2%
The global music production and distribution industry has had to adapt to the shift in music consumption in today’s audience created largely due to the shift created by the advent of digital music.
Revenue for this industry is expected to be negatively impacted by covid-19 pandemic, as industry activities in many countries have been set back or paused to slow the spread of the coronavirus due to their status as a non-essential industry. However, the current distribution of music genres regarding the industry’s downstream market segmentation is unlikely to change due to the covid-19 outbreak, thus indicating that the demand for the industry is to remain stable and unlikely to be affected in the long run.

  1. Pharmaceuticals & medicine manufacturing industry 

Revenue growth (2019-2020) = 4.2%
Over the five years leading up to 2020, the ageing population in developed countries and growing middle class in emerging economies, have greatly benefited pharmaceutical manufacturers. Adding to that, the industry may experience increased downstream demand for pharmaceuticals and other medicines due to the ongoing covid-19 outbreak. Industry operators may be able to add to their bottom lines (income after all expenses have been deducted) in the long run. The anticipation for making the coronavirus vaccines and the testing and trials for those interests, add to the overall value of the global pharmaceuticals and medicine industry, moving forward.

Previous Post

The 10 Most Intelligent Identity & Access Management Solution Providers, 2020 December2020

Next Post

Important Facts About Insurance and Car Accidents

Next Post
Important Facts About Insurance and Car Accidents

Important Facts About Insurance and Car Accidents

Recent News

a-passenger-aeroplane
Recent News

Ryanair Has Issued a Warning That Flight Prices to Europe May Increase This Summer

Flight prices are expected to climb by a "high single-digit percent," according to airline CEO Michael O'Leary. Lower fares, he...

Read more
After Indian Ministers Fail to Persuade Musk to Incorporate His Tesla Business in India, Musk Has Shifted His Focus to Indonesia

After Indian Ministers Fail to Persuade Musk to Incorporate His Tesla Business in India, Musk Has Shifted His Focus to Indonesia

Asian-Equities

Asian Equities Struggle Following Crippling China Statistics

Elon-Musk

Elon Musk’s Legal Issues Are Causing Tesla and Twitter Stock to Fall

Google-logo

300 European Publishers Sign Content Deals with Google

Path Breakers

Hubstaff

Hubstaff: Time and Workforce Management at Your Fingertips Virtually

Evonence LLC – Expert Google Workspace Partner Across North America

Evonence LLC – Expert Google Workspace Partner Across North America

Booster Box – A Passionate International Performance Marketing Agency for PPC Advertising Campaigns

Booster Box – A Passionate International Performance Marketing Agency for PPC Advertising Campaigns

Gary-Olson-CEO-of-GHO-Group-LLC

GHO Group LLC: Bringing Vision to Reality

Josh-Usheroff-Co-Founder-of-Black-Box-Productions

Black Box Productions: Crafting Visually Engaging Stories

Insights Success is an archway that caters to Entrepreneurs’ quench of technology and business updates which are currently ruling the business world.
We are ceaselessly proving the best platform for leading companies, which aids indefinite progress while creating meaningful learning experiences for the visitors and invaluable brand awareness for the clients.

  • About Us
  • Advertise With Us
  • General Disclaimer
  • Terms & Condition
  • Privacy Policy
  • Subscribe
  • Contact Us

© Copyright 2022, InsightsSuccess | All Rights Reserved.

No Result
View All Result
  • Home
  • Industry Insider
  • Magazine
  • Franchises
  • Women In Business
  • Blog
  • Conferences
  • IT & Innovations
  • Leadership
  • Healthcare
  • Money
  • Startups

© Copyright 2022, InsightsSuccess | All Rights Reserved.