Here are five of the most quickly growing industries to consider buying into during 2020.
Biotech
Even before COVID-19 escalated into a global pandemic, biotech was the hot stock to buy. Biotech stocks have remained remarkably resilient during this ongoing health crisis, setting themselves up for growth as the world continues to navigate these unchartered waters. With so much interest in the pharmaceutical industry as a whole, biotech companies are at the forefront of this expansion.
The FDA has also adopted a more friendly approach to biotechnology in general, opening up more avenues for growth. All of these factors have put biotech in an ideal position to establish itself as one of the hottest growth industries in the stock markets moving forward through 2020 and well beyond.
Online Education
Online learning has grown exponentially in recent years as consumers discover its many benefits and conveniences.
The ongoing COVID-19 crisis has accelerated this industry even further as more and more educational offerings move to the online space.
In today’s connected world, it is possible to get an entire degree online. From classes on cooking to online coffee business courses, the possibilities are endless for courses you could offer.
Using this type of platform, you can learn everything that you need to in order to become a trained professional in a variety of fields from the comfort of your own home.
Investing in online educational opportunities is a smart way to leverage the increasing prevalence of technology in learning to grow your wealth.
CBD Oil
Both the medical and recreational marijuana sectors are expected to see rapid growth in 2020. A host of legislative victories has made the use of marijuana more mainstream, resulting in huge growth potential.
Cannabidiol, otherwise known as CBD, is a compound found in hemp plants. More consumers are discovering the benefits of CBD, making this industry a good investment of your money. In addition, there are a variety of investment avenues in this industry, giving you exceptional choice when finding ways to direct your money.
3D Printer Manufacturing
The 3D printing industry has exploded in recent years. As technology continues to expand at a breakneck speed and new applications are developed for 3D printing, this industry is poised to see massive growth.
The falling prices of 3D printing machines combined with lower printing costs have combined to encourage many companies to invest in their 3D printing machines while bypassing traditional services. Because 3D printing is extremely cost-effective, it is no surprise that many companies are looking to do this in-house rather than spending money on a contracting basis.
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Solar Power
Renewable energy will continue to be a goldmine moving into the future. Buoyed by favorable government incentives such as tax credits for consumers and renewable portfolio standard (RPS) targets in many states and territories, solar power is seeing a significant spike in interest.
As the public continues to demand green energy sources, more tax incentives are being leveraged to encourage further investment in solar power. In addition, the cost of the equipment needed to generate this type of power has continued to fall, making it a more attractive option for many people looking to save on their energy bills and give back to the environment.
You can maximize the value of your investment portfolio by funneling your money into industries that are expected to see significant growth. Make the most out of your investments by choosing from any of these five industries poised to see success in the coming months.
Image Credit: growing industries by Pixabay
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