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The Top 3 Fastest Growing Industries For The Next 5 Years
How To Profit of The Hottest Industries
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Happy Monday!
Let’s start the week off strong.
The agenda for today:
👉 Tesl could have some problems in the near future…
👉 The Top 3 Fastest Growing Sectors in 2024
👉 Market Leaders by Industry
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Tesla stock is continuing to rally.
But Guggenheim analyst Ronald Jewsikow has an opposing opinion on the stock, despite Tesla being up over 40% in the last month.
The electric vehicle company delivered 444,000 units in Q2, above the 437,000 consensus view, which was a positive surprise.
Jewsikow mentioned that this positive surprise could lead to problems in the future.
“Clearly the financing promos on both the Model Y and Model 3 drove considerable volume growth, but as we have seen with other sizable price cuts and discounts, demand is pulled forward and new demand must be created in Q3 and beyond, which has proven challenging over the last 18 months” Jewsikow said.
Tesla is staring down its share of challenges as we continue our way into the 2nd half of the year.
Among Jewsikow’s notable highlights are “production cuts, share losses in China and tariffs in Europe.”
Can Tesla continue this rally?
Disclaimer: the author of this post does not have a position in Tesla.
The Top 3 Fastest Growing Industries In For The Next 5 Years
The Tech Age
The digital age is among us, and that’s no secret.
A once misunderstood field has blossomed into an industry we now can’t live without, with technology becoming the foundation of our entire globe.
The industry itself is expected to grow at a compound annual growth rate (CAGR) of 8.3% through 2028, touching a total value of $12,417.21 billion.
A projected 377,500 computer and IT positions are expected to open every year until 2023, with the fastest growing jobs being Information Security Analysts (projected 32% growth), software developers (projected 25% growth), and computer and information research scientists (projected 23% growth).
Here’s a look at the 2023 median pay by occupation.
If you‘re looking for a career change, IT might be a good choice.
Health is Wealth
Fueled by an aging population and the rise of chronic health conditions, the healthcare industry is going through a large transformation.
The healthcare industry is one where the promise of growth is not just in the numbers, but also in the impact it has on society.
We NEED healthcare to expand and grow, to support the number of humans who walk this earth.
There is an anticipated 2 million jobs to be added by 2032, no small number.
Here’s how the Heath Care Sector has grown compared to other areas of employment from January 1990 to February 2024, as per the Bureau of Labour Statistics.
The rise is undeniable.
With advancements in biotechnology and the accessibility of remote health management, the healthcare industry continues to expand its services to meet the needs of a changing society.
Statista notes that this industry is expected to maintain a steady annual growth rate of 3.79% from 2024 to 2029, resulting in a market volume of $84.52 billion by the end of the forecasted period.
In the U.S. alone, the hospital market is expected to generate the highest revenue across the globe, reaching $1,501 billion this year.
It’s also important to note that just in 2024, per-person revenues in Canadian Hospital Markets amounted to $1,790.
Going Green
The green economy is no longer just a fad, it’s a reality. It’s also becoming increasingly associated with sustainability.
In 2021, we experienced a 9% expansion in renewable electricity capacity.
The rapid growth of renewable energy is a testament to the urgency of environmental concerns.
It’s not only a shift in how we power our lives, but also a significant opportunity for additional jobs, more specifically in the world of solar and wind energy production.
The global renewable energy market size was valued at $1,085 billion in 2023 and is estimated to reach 2,449.6 billion by 2032, growing at a CAGR of 9.47% through that same period (as per Straits Research)
Sources:
https://www.thebusinessresearchcompany.com/report/information-technology-global-market-report
https://www.forbes.com/advisor/education/it-and-tech/tech-industry-statistics-and-facts/
https://www.statista.com/outlook/hmo/hospitals/canada#:~:text=Furthermore%2C%20experts%20expect%20this%20sector,end%20of%20the%20forecast%20period.
Market Leaders by Industry
Information Technology
Microsoft
Apple
Nvidia
Google
Amazon
Healthcare
UnitedHealth Group Inc.
CVS Health Corp.
Mckesson Corp.
Cencora Inc.
Cardinal Health Inc.
Renewable Energy
General Electric Co.
Constellation Energy Corp.
NextEra Energy
Jinko Solar Holding Co.
Canadian Solar Inc.
See you in the next one!
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