5 Industries Which Will Thrive

The 2020s have already begun as a turbulent decade. The COVID-19 pandemic, for example, has not only had an effect on our health, but also impacted our economies, and the industries which are likely to survive and thrive in the coming years.

But which industries are resilient enough to weather the storms, and what is it that makes them successful? How might they change in the coming years? The round-up below explores these topics, selecting five of the industries most likely to prosper in the coming years.

If your industry is not listed below, this is no cause for concern. Many industries, businesses, and individuals operating outside of these five, will also continue to grow and achieve success. But based on recent studies and insights, the five outlined below will see particularly large-scale growth.

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   E-Commerce

The e-commerce industry, and online businesses as a whole, have seen something of a boom in 2020. With the rise in the use of social media marketing as a lucrative business tool, more people than ever before have been exposed to online advertising, and have made purchases from online stores.

During the global pandemic, when many countries were in lockdown conditions, or people were encouraged to stay safe at home, it was e-commerce to the rescue! Many businesses were forced to move their operations almost entirely online — bringing value to people who were unable to leave their homes.

Others were not able to provide their services entirely remotely, but moved as many things online as they could – a process which many businesses will continue with for the foreseeable future.

With the popularity and effectiveness of social media growing, more decentralised working populations arising across much of the world, and convenience, low prices, and quick delivery always proving popular, the e-commerce industry is set to continue thriving through the coming decade, and beyond.

2. Engineering

Whether servicing cars or lorries, repairing computers, maintaining hospital equipment, or fixing any number of other things, engineering continues to be an essential industry.

It is expected that some of the biggest changes coming to the industry will be in the rise of automation. This will see some engineering jobs — such as on production lines, for example — be carried out by robots and machines, rather than humans.

However, new roles will open up for people to repair and maintain such machines. Engineering is not only an essential industry in its own right, it is also essential for the smooth running of many other essential industries — where specialist equipment is of paramount importance – such as in hospitals or electronics factories, for example.

3. Bid and Tender Services

For the millions of pounds it generates in revenue, and the wide variety of sectors it serves, the bid and tender services industry is perhaps not as well-known as it should be.

This industry deals with identifying the best opportunities and open tenders (available jobs) for their business clients, then preparing their applications and bids for them in an effort to win more work. Many businesses have won millions in additional work by using these services.

With the 2020s expected to bring many changes and challenges, there will be open tenders for work and lucrative contracts for companies up for grabs. The bid and tender service industry is expected to thrive as a result.

4. Medicine

In almost every decade, medicine thrives and grows – for obvious reasons. 

But in light of new challenges, such as previously unseen diseases and illnesses on a global scale, as well as the more personalised approach expected from contemporary patients, medicine is set to change and expand more rapidly than ever in the 2020s.

One example of this, is that many medical courses are now including electives on Climate Change medicine, as the effect of globally warmer climates will have an impact on the overall health of populations.

5. Education

Education is a vital industry that has seen rapid growth in recent years, especially in its accessibility, affordability, and how it is provided. 

While university fees vary widely from nation to nation and institution to institution, it is expected that more opportunities will be made available online — such as offering qualifications entirely remotely through online courses.

There has also been a drive towards high quality and legitimate educational courses that can be completed through online platforms such as Skillshare and Udemy, which are recognised by employers and industries.

Like many industries set to thrive in the 2020s, education is set to become more diverse, affordable, and accessible with the move online.