Ending Soon! Save 33% on All Access

The Top 10 Fastest Growing Industries in 2024 Thanks to tech breakthroughs and consumer demand, these industries are expected to boom in 2024.

By Christopher Massimine Edited by Micah Zimmerman

Key Takeaways

  • Artificial intelligence is both an emerging industry and a profit-driver in growing sectors.
  • Renewable energy jobs are experiencing rapid growth in the U.S. and around the globe.
  • From education to online retail, technology is central to the fastest-growing industries.

Opinions expressed by Entrepreneur contributors are their own.

The world is changing rapidly, and with it, the industries that drive the global economy. In recent years, sectors such as artificial intelligence (AI) have seen explosive growth, with the AI market expected to reach $407 billion by 2027, according to MarketsandMarkets. But AI isn't the only area seeing expansion. Healthcare, travel, online retail and green energy are all booming industries that are putting people to work and driving profits around the globe.

According to data from the U.S. Bureau of Labor Statistics and others, these sectors are driving the economy forward in 2024 and paving the way for a brighter future.

Related: These Are the 10 Fastest-Growing Jobs in the U.S.

1. Artificial intelligence industry

The future of the global economy likely lies in artificial intelligence (AI). According to research from Stanford University, private investment in generative AI projects nearly octupled in recent years — reaching more than $25 billion in 2023. Through automation, improved data analysis capabilities and predictive analytics, AI is helping businesses become faster and more efficient while cutting costs. It's also begun to revolutionize industries such as healthcare, finance and transportation.

Many AI-related jobs are surging. Programmers (especially those who know Python), computer scientists, data analysts, software engineers and project managers are all in high demand.

2. Health care industry

Health care is a rapidly growing industry in the U.S., with the Bureau of Labor Statistics (BLS) projecting it will make up 45% of all job gains in the U.S. over the 2022-32 decade. People are living longer and our population is growing, meaning more demand for health insurance and people to fill jobs in the health care (and especially home care) industry: personal care aides, nurse practitioners, medical service managers.

Hospitals and health systems will have to hire more doctors and nurses, along with support staff, to meet these demands. New laws will also cause an increased need for insurance policies. In recent years, for example, many states mandated that employers cover their employees' contraception costs under their health plans, which led to more young people seeking birth control coverage.

Related: Telemedicine is the New Normal in the Health Care Industry

3. IT and cybersecurity industry

As companies have moved to more hybrid and work-from-home arrangements, the role of digital security has become even more vital. IT specialists and project managers, as well as cybersecurity analysts, have had to build and protect increasingly complex systems that are constantly under attack.

Data breaches and cyber attacks both saw upticks in 2023, as criminals made off with more than $8 trillion. The result is a booming cybersecurity sector intended to shield customers from such attacks and integrate security systems across divisions. The BLS expects jobs in information security — with an average annual salary above $120,000 — to grow 32% in the coming decade.

4. Green energy industry

From turbines to Teslas, green energy is still seeing major market growth around the globe. According to the International Energy Agency, clean energy accounted for 10% of GDP growth — around $320 billion — globally in 2023. That means there are plenty of opportunities to make a profit while helping the planet.

The Inflation Reduction Act set aside billions of dollars for clean energy projects, which will create more jobs for solar panel installers, technicians, construction workers, engineers and supply chain specialists.

5. Online retail industry

As more consumers turn to online platforms for shopping, businesses are quickly adapting to meet this demand. Companies like Amazon, Walmart and Target invest heavily in online efforts to serve their customers better. With more people using the internet to shop and take advantage of discounts, economists expect the online retail sector — with roles in customer service, logistics, supply chain and web development — to continue growing. Shipping and delivery, another fast-growing sector, is also central to the online retail economy.

Ecommerce sales accounted for more than 15% of all global retail sales, and the Census Bureau estimated the industry to be worth $1.1 trillion at the end of 2023. High-growth jobs include shipping and facilities support staff, ecommerce specialists and sales directors, in addition to entrepreneurs starting their own online stores.

6. Travel and food service industries

With the growing population and interest in traveling after years lost to the pandemic, dream jobs that combine travel with food and culture are set to keep growing. Air travel, hotel room demand and international travel are all nearing pre-pandemic levels, according to the U.S. Travel Association, and the World Travel & Tourism Council reported an increase in 27 million global tourism jobs in 2023.

If you love to travel, consider a career as an agent or guide who helps others plan their trips – just make sure you're certified by your local government to become a tour guide (usually required for historical sites). If you aren't interested in working directly with tourists but still want to help with travel, become an agent for a company specializing in international flights and accommodations.

Related: The Travel Sector Is Getting Upgraded

7. Online gambling services industry

In 2018, the United States Supreme Court struck down a federal ban on sports betting, giving way to a massive online gambling industry now present in 38 states and the District of Columbia. S&P Global found that Americans wagered more than $119 billion on legal sports betting in 2023, driving more than $10 billion in revenue. Roles such as risk manager, software developer, customer service representative, marketing specialist, data analyst and trader are all growing, as is the need for digital security.

8. Construction industry

A sector intimately tied to other growing industries such as green energy, construction is in constant demand and saw growth in every major segment, especially manufacturing, by the beginning of 2024. From factories to housing to roads, the construction industry is building it all.

After a significant pandemic dip, construction jobs are plentiful and growing. Expect to see available roles such as construction project manager, renewable energy construction worker, health and safety manager, construction technologist and sustainability specialist — in addition to all of the carpenters, ironworkers, painters and other tradespeople on construction sites.

9. Education industry

The U.S. is still seeing economic growth in alternative education since the pandemic kept millions of kids home from school. Encompassing everything from preschools to charter schools to colleges, the U.S. education market size is expected to reach $1.5 trillion by 2028, according to Vantage Market Research. Vocational schools and remote learning have also benefited from emerging educational technologies.

In addition to teachers and administrators, the industry has seen job boosts around technologists, web developers, counselors, learning management system administrators and technology integration specialists.

10. Pet care industry

Our furry friends are driving big global profits, with the pet care industry worth an estimated $303 billion in 2023, according to Michigan State University. Part of this is due to the pandemic — nearly one in five Americans adopted a pet during that time — and growth has been steady ever since. With more people returning to offices, the demand for dog walkers, sitters, daycares and training has increased.

Roles such as veterinarian, groomer, behaviorist, product designer and developer, nutritionist and shelter worker are all possible employment growth areas in this space.

Chris Massimine is the CEO of Imagine Tomorrow, a firm that shepherds and sources capital for creative works. Massimine is also a business development consultant, an international theatermaker and executive producer of the upcoming film "The Inventor."

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

TikTok Reportedly Laid Off a 'Large Percentage' of Employees as the App's Fate in the U.S. Remains Unclear

Laid-off TikTok employees were notified Wednesday night through Thursday morning.

Personal Finance

This Investment Bundle Includes a Trading Course and Stock Screener Tool for $150

Approach the stock market with an increased understanding.

Business News

Four Seasons Orlando Responds to Viral TikTok: 'There's Something Here For All Ages'

The video has amassed over 45.4 million views on TikTok.

Growing a Business

5 Strategies to Know As You Scale Your Business

Scaling a service-based company requires a comprehensive approach that goes beyond simply increasing revenue. It requires careful planning, strategic decision-making and a deep understanding of market dynamics.

Growing a Business

The Right Way to Ask Someone for a Million Dollars, According to a Fundraiser Who Does It For a Living

No matter what you're raising money for, Wanda Urbanskia says, the same basic rules apply.