Do you hate that dreaded question at family get-togethers… “So, any plans after graduation?”
Do you wish you had the perfect answer to shut pompous Uncle Mike down?
Well, as a recent grad myself, I decided enough was enough. So, I rolled up my sleeves and began hunting for fresh new industries that would welcome recent grads with open arms!
Our List of Up and Coming Industries and Jobs for Recent Graduates
All this talk about finding a job after graduation must just be a virtual reality – but I swear, it’s real! In fact, the virtual reality industry is expected to have a global market size of $1.7 billion this year (that’s an increase of over $1 billion!), and a revenue of $4.6 billion. This growth is expected to increase, with an expected global market size of $24.5 billion in 2020, and $80 billion by 2025 (the size of today’s desktop PC market!). Unsurprisingly, customers can’t get enough of virtual reality. The total number of active users is predicted to reach 90 million by this year, and 171 million by 2018.
Health & Wellness
Today’s consumers are undoubtedly increasingly concerned over their health and overall wellness, as global industry sales are expected to amount to $1 trillion in 2017. This societal shift is present within all ages, from young to old, and it doesn’t seem to be changing anytime soon. In fact, the number of adults aged 60 is expected to double by 2050, which will increase their need for health and wellness products. Now for all the Canadian graduates, there has been strong growth in the Canadian health product sector, with an annual growth rate of 15% and economic contribution of $3.5 billion (and growing!). Looks like a promising industry, eh?
As a matter of fact, the #1 company on Fortune 100’s list of “fastest growing companies” is Natural Health Trends, a health and wellness company (surprised?). Just last year their revenue was $298 million, with a total return three-year annual growth rate of 211%.
The drone industry is expected to explode in the next few years, with a predicted value of over $127 billion by 2020, and a compound annual growth rate of 17%. Drones are extremely multifaceted and diversifiable, and as such, can be used for just about anything (ie. they have huge potential!). For example, Air Shepherd has taken advantage of the many uses drones have and is using them to find wildlife poachers, in order to protect wild rhinos and elephants. Ben Marcus, CEO of AirMap, predicts there will be a 400% increase in drone usage over this year.
Drone companies even made their way onto Fortune 100’s list of fastest growing companies, with Ambarella making the top 10. Ambarella develops video compression and image processing solutions, which are crucial components of many drone cameras. Their total revenue for the past year was a jaw-dropping $303 million, with their shares increasing by 67% in the past 3 months.
The marijuana business is definitely “smoking” hot. With over half of America’s 50 states legalizing marijuana, and Canada currently in the process of legalization, it is no surprise that legal marijuana sales will total a whopping $22.8 billion in 2020.
The pharmaceutical company INSYS therapeutics was also on Fortune 100’s list of fastest growing companies, placing in their top 5. They develop pharmaceutical cannabinoids to address the clinical shortcomings of existing commercial products. Their revenue last year alone totalled to $323 million dollars, with an earnings-per-share, three-year annual growth rate of 119%.
The FinTech industry has been taking the financial industry by storm, and there’s no sign of stopping. FinTech companies are better able to meet changing customer needs, by offering convenient, simple and online integrated services. By the year 2020, the global marketplace lending is expected to be valued at $500 billion. Moreover, by the year 2030, there will be a projected 2 billion new customers using their phone for financial services, with over 60% switching to mobile over the next five years. As such, they are leveraging traditional companies limitations and succeeding in areas where they are failing. Additionally, the number of new FinTech start-ups has created a landscape of innovation and competition, driving continued success.
Now you’ll always have an answer to that annoyingly tired question!
Show Uncle Mike exactly what you’re made of, and start focusing your efforts in industries with the most payoff.
Check out Part 2, where I segment different areas of promise within each industry, explain how you can get involved, and some awesome examples to get you started!
Interested in learning from the Pros? Check out our recent article on business experts you should look out for.
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