In today’s economy, having the drive to succeed and the knowledge to remain strong in your field may not always be enough to keep your job. Companies are laying off thousands of workers every year as demand for certain services diminishes. In these desperate times, it may not be enough to have the right certifications or educational credentials for your position. You must ensure that your company, your industry, is in high demand and will remain so for the foreseeable future. To that end, you’ll find a list of the fastest growing technical industries according to IBISWorld market research surveys.
5. Internet Publishing & Broadcasting
With a forecast average annual growth rate of 6.8%, the field of Internet publishing and broadcasting is certainly in need of skilled IT professionals. This industry includes organizations that offer non-physical products such as news, music, and video via the Internet. Such organizations require a wide variety of tech-savvy employees from audio/video editing specialists to organize the media they present to web developers who encode the web pages to serve their clientele. Networking specialists are also in high demand in this field, as many broadcasters must pay close attention to their bandwidth usage and ensure that they are able to meet demand without overspending on infrastructure.
4. Video Games
While the video games industry had begun to sink in the earlier part of the decade, it has turned around considerably in the last seven years and is now expected to maintain an average 8.3% annual growth rate in the years to come. In addition to the artists, writers, and voice actors needed to make a successful video game, there are exponentially more software developers, networking specialists, and hardware experts involved in the process.
3. E-Commerce & Online Auctions
The popularity of online shopping has caught on in a big way and is expected to continue growing with a projected 9.4% growth rate per year in the near future. Web developers with experience in online storefront management and design are in high demand, as are networking experts and security specialists to protect their customers’ valuable data. This industry does not include brick-and-mortar stores who maintain an online store presence (such as big box stores like Walmart and Target), but rather represents companies who conduct their business primarily via the Internet.
Biotechnology has long been a powerhouse in terms of annual revenue, but recent developments have lead to a surge of growth in the industry to the tune of about 9.6% per year. While the industry employs no small number of medical technicians, scientists, doctors, and pharmaceutical experts, there is also a significant need for technical specialists. Database administrators, networking specialists, program developers, and computer technicians are all in demand to support the massive amounts of research data these firms handle on a daily basis.
1. Voice over Internet Protocol (VoIP) Providers
VoIP is the communication medium of the future, and with an anticipated growth rate of 17.4% in the years to come, it is the unrivaled leader of growth in the IT field. Positions within this industry vary widely from networking technicians and troubleshooters who work to repair basic functionality to network engineers, software developers, and web designers who manage the back-end servers, routers, and web interfaces that make the whole system work. VoIP has already replaced more traditional telecommunications systems in many areas, and that trend is expected to continue for many years to come.