Top 5 Fastest Growing Industries in the Next 5 Years: Predictions

In this article we are going to list the Top 5 fastest growing industries in the next 5 years: Predictions. For detailed coverage of this topic and a more comprehensive look, please take a look at the Top 20 fastest growing industries in the next 5 years: Predictions.

5. Artificial Intelligence

Compound annual growth rate (CAGR): 37.3%

Artificial intelligence (AI) is widely regarded as one of the newest sectors, and it has been expanding at an unparalleled rate in recent years. With a predicted valuation of $196.63 billion in 2023, the worldwide artificial intelligence market is expected to develop at a CAGR of 37.3% between 2023 and 2030 as reported by Grand View Research. The continual research and innovation pulled by tech giants has fueled the adoption of cutting-edge technologies across industry verticals such as automotive, healthcare, retail, finance, and manufacturing. For example, Google LLC released “Gemini,” a sizable language AI model, in December 2023. Three versions of Google’s new Gemini model are planned: Gemini Nano, Gemini Pro, and Gemini Ultra. Gemini’s inherent multimodal feature sets it apart from its rivals.