Despite the recession there still are a number of rapidly growing industries in America. These are the top ten fastest growing this year:
Forecasted growth (2011 – 2016): 7.9%
With the current movement toward renewable energy solutions, the solar industry is expected to have tremendous growth in the years upcoming. The cost of installation of solar panels has been rapidly decreasing due to advancements in manufacturing technology and in the technology used in the solar cells themselves. In 2011 the cost per watt of solar power has fallen bellow the level of that of nuclear power. For large-scale installations prices of $1.00/watt are now common. With help in the form of various financial incentives from the government, the solar industry will continue to grow at a rapid pace.
Forecasted growth (2011 – 2016): 8.3%
The video game industry in the United States is worth well over $10 billion dollars per year. It is also a very profitable industry. Call of Duty: Black Ops had over 650 million dollars in sales within three days of its release. The income generated from the game was more than the opening weekend of the movie Spider-Man 3. The video game industry is one that rewards innovation and creativity and is likely to stay close to the hearts of many Americans.
Third-Party Administrators and Insurance Claims Adjusters
Forecasted growth (2011 – 2016): 7.7&
The outsourcing of third-party administrators is rapidly increasing with the goal of decreasing overhead expenses from insurance companies. It helps the insurance company to have more localized employees to cut down on travel and associated costs.
Forecasted growth (2011 – 2016): 9.4%
With the greater concern over the environment and more environmental regulations, environmental consulting is a relatively young rapidly growing industry. Growing government funding in renewable energy technologies is also feeding the growth of this industry.
Forecasted growth (2011 – 2016): 7.5%
The number of incarcerated individuals in this country has more than quadrupled within the last 30 years. It is growing at a near exponential rate and is unlikely to stop any time soon. Many new correctional facilities are being built and current facilities are expanding. The pressures put on the current infrastructure are causing this industry to grow at a very rapid pace.
Forecasted growth (2011 – 2016): 9.6%
Biotech is a very expansive industry. Applications of biotechnology penetrate agriculture, genetics, cloning, engineering, and medicine. With more and more tools available to scientists and researchers, the rate of breakthroughs is rapidly increasing and as a result the industry is also expanding.
E-Commerce and Online Auctions
Forecasted growth (2011 – 2016): 9.4%
In this day and age nearly everyone is finally online whether it be a 6-year-old child or a 90-year-old grandparent. People now feel confident to make purchases online. Online auctions are a great way for people to rid themselves of things they no longer want or have a purpose for. In a way, it is like an online pawn shop. Increased participation is at the root of the growth in this industry.
Forecasted growth (2011 – 2016): 11.2%
Similar to the reasons behind the growth in the solar power industry, the wind power industry is rapidly growing. There are a dozen wind farms both in planning and development around the United States. There is no indication that this trend is likely to slow down.
Internet Publishing and Broadcasting
Forecasted growth (2011 – 2016): 6.8%
Partially thanks to the increase accessibility of online blogging to non-technical individuals, the internet publishing and broadcasting industry is expected to have phenomenal growth in upcoming years. You will now find a niche media source on the internet for just about anything. A perfect example is this site, where you can read about a variety of topics presented in an easy-to-digest form of a top ten list.
Voice Over Internet Protocol Providers
Forecasted growth (2011 – 2016): 17.4%
People are tired of paying month after month for a land-line. VoIP solutions offer a much cheaper, more expandable, and capable solution to telecommunications than the traditional land-line. Companies are popping up everywhere to address the need of both businesses and individuals. It is for this reason this is the fastest growing industry in America.
Source: Huffington Post