In finance, it’s incredibly important to spot which areas of the economy are growing the fastest. The technology industry, now worth over $5 trillion, is one of the best investment opportunities for finance workers. However, it’s important to know exactly where this sector is growing fastest. There’s not much point in investing in a company that makes fax machines, for example. Below are three examples of fast growth within the technology industry.
The metaverse isn’t upon us yet, but it’s coming soon. When it does, you should expect an explosion in growth. That’s why Meta has already invested over $20 billion in building its own version of the metaverse. Many other tech giants are trying to keep pace, each attempting to create its own universe of 3D worlds. As they egg each other on, the growth is likely to be astronomical.
This is such a huge opportunity because companies will soon start adopting it. While many workers prefer remote work, some bosses think it loses the benefits of being together in an office environment. The metaverse can offer the best of both worlds, allowing for an in-person experience no matter where you’re physically located.
Crypto and Digital Currency
For many years, cryptocurrency seemed like a strange phenomenon that the mainstream finance industry was reluctant to adopt. However, it came to prominence when Bitcoin skyrocketed in value in 2017. It was worth a steady $1000 for the first five months of that year before suddenly jumping to almost $20,000 as December rolled around. Since then, the growth potential of cryptocurrency has been obvious.
2017 was the first time when investors suddenly realized that crypto was a lucrative opportunity. There are now over 18,000 cryptocurrencies available, with many achieving high growth. Digital currencies (which, unlike cryptocurrencies, are not encrypted) are now becoming mainstream. Even the UK central bank has proposed creating its own.
The rise of the smartphone has been one of the most significant technological revolutions in history. Today, over 80% of the world carries one. The next important evolution in this area is in device protection. People are increasingly looking for ways to protect their phones, tablets, and laptops from loss, damage, or theft.
There are many who believe that smartphones and laptops are designed to break easily or slow down after a few years. Of course, no one wants to always be buying new devices. That’s why protection technology like this Dell screen protector you can get from places like ViaScreens will be a rapidly-growing industry in the coming years. It will help people be less wasteful and keep the same device for longer.
Technology is one of the most innovative industries on the planet, which is why it’s such an important part of finance. It’s crucial for finance workers to spot the trends and see where economic growth will be fastest. This will benefit the entire economy as well as making savvy investors very rich. Above are just three areas to expect rapid growth in the next few years.