What are the top up and coming industries disrupting the marketplace in 2019? Find out which major industries to watch for here.
2019 is already shaping up to be a big year for many major industries. For example, this year the worldwide solar market is expected to hit 100 gigawatts for the first time.
Solar is only one example of up-and-coming 2019 industries. Read on to learn about 10 industries you should watch.
1. Artificial Intelligence
Artificial intelligence (AI) is one of the most disruptive industries, bringing change to many areas of our lives. It’s been on the rise for the past few years, but some new developments in 2019 will boost it even more.
One of those changes is increased access to specialized processors to support the speed needed by AI. These AI-enabled chips haven’t been as widely available, but this year, Qualcomm, Intel, NVIDIA, and others are stepping up production.
These chips allow AI to learn even faster and will improve areas such as facial recognition, understanding images, and assisted driving.
2. Virtual Reality and Augmented Reality
Accompanying artificial intelligence is the rise of both virtual reality (VR) and augmented reality (AR). Both will become more sophisticated this year, thanks to more powerful devices and a better understanding of how people can use these environments.
New types of stand-alone VR headsets will allow people to move around without a cord while still having good graphics. This could boost the market and give people the opportunity for virtual travel.
Education is another area that benefits from both VR and AR. VR can be used to train people in surgery, aircraft piloting, construction, retail, and more. AR allows passing information to a trainee in real-time, alerting them to hazards and giving tips on best practices.
3. Cyber Security
Cyber attacks aren’t new. Recently, there has been an increase in the frequency and intensity of incidents requiring a growing response from the cyber security industry.
Some of the cyber security trends in 2019 include:
- Ransomware attacks on industrial and manufacturing firms
- Hacks to software updates that impact supply chains
- Corporate data breaches
In addition, phishing attempts are becoming more advance and attacks on the Internet of Things (IoT) are becoming more common. With more devices becoming connected all the time, including vehicles and smart medical devices, cyber security will be a major focus in 2019 and beyond.
Healthcare is one of the top industries seeing both growth and change, and it doesn’t show any signs of slowing down.
One such change is with genomic medicine. Genomics is a type of biotechnology that focuses on genome function, evolution, structure, mapping, and editing. Genomic medicine uses a patient’s specific genomic information to provide specialized care.
The use of medical robots is also on the rise, leading to more automation in hospitals. This includes assisting with complicated surgery and helping in rehab, as well as the use of AI in diagnosis.
Outside of hospitals, people have access to wearable devices that track activity, heart rates, sleep quality, and more, providing useful details to healthcare providers. Additionally, patients in rural areas can now access telemedicine instead of traveling to the doctor’s office.
5. Personal Nutrition
Along with healthcare, people are focusing more on personal wellness and prevention, especially in the world of personal nutrition.
This level of personalization can go down to the genetic level. Using information about someone’s DNA, genotypes, and biomarkers, people can get specific advice about their diet and wellness.
Nutrition is clearly a high priority for many people when you consider the number of specialized diets on the market, from Paleo to keto to gluten-free. Personalized nutrition is no exception, and by 2025, the market is expected to reach $11.5 billion.
More and more people are moving to urban environments, giving a boost to innovative industries that help people live in those settings. This includes micro-mobility, which is already seeing a boom in 2019.
Some of this is coming with devices such as electric bikes and e-scooters. They offer convenient and inexpensive alternatives to cars for people who want to commute to work without a lot of hassle.
Demand-response services are also on the rise. This won’t be limited to cars but will also include buses, and larger companies such as Uber and Lyft could add e-bikes and e-scooters into the mix.
The cannabidiol (CBD) industry isn’t new, but with recent legal changes, it’s set to truly take off.
In the U.S., hemp is now legal to grow, since it has a negligible amount of THC. This has led to a growing number of products containing CBD, everything from lotions to edibles to beauty products.
Additionally, the first CBD-centric drug only went on the market in 2018, paving the way for more other medical developments in this sector.
8. Solar Energy
Renewable energy is another hot market, with solar energy leading the way. One report states that 2019 will see solar installation growth in all six global regions, a first since 2011.
Much of this growth is from corporations that are looking to both save money and meet environmental standards. Improvements in solar technology are also a factor since the production costs are going down and efficiency is increasing.
Agriculture continues to be big business, but the nature of that business is changing.
A lot of the focus now is on precision agriculture, which uses AI, data sensors, and big data analysis to identify what crops need attention, and what they need.
Robots are also being used on farms since they can work more efficiently and use AI to learn on the job. Agricultural robots are available to work with plants by weeding, watering, and picking, as well as with animals by milking and herding.
Another big change is expected with the adoption of 5G, the next generation of cellular networks.
The new network will provide more speed, reduced latency, and greater coverage. All of this means more connectivity for everyone, including businesses as well as individuals.
This will impact any industry that uses or wants to use video, such as video games, but it impacts more than entertainment. This will also boost cloud computing, the use of remote workforces, and personalization in digital marketing.
Watch These Major Industries for More Changes
The world is changing is fast, and several major industries are changing with it or being created to take advantage of new possibilities. These changes impact all areas of people’s lives, from food production to healthcare treatments, and even to how we interact with the devices we use in our day-to-day lives.
If you would like to stay updated with developments in these types of industries, subscribe to our newsletter.
Looking to invest in innovation? The Evolve Innovation Index Fund (TSX: EDGE) provides investors with access to global companies that are involved in innovative and disruptive trends across a broad range of industries, including cyber security, future cars, genomics, robotics and automation, big data and cloud computing, social media, and 5G. Learn more about this investment opportunity by clicking here.