10 Emerging Businesses That Nobody Saw Coming…

Burgeoning Business… Global industry doesn’t stand still for very long, and there are quite a few disappearing industries — but what is taking their place? … We took a look around the business landscape and found several industries that seemed to appear from nowhere … at least to those who weren’t paying attention

1 – Corporate Wellness Services
A “corporate wellness service” is what companies bring in when they don’t want to pay more for health care — consultants, wellness fairs, and employee fitness incentives used to create healthier employees or at least get a company off the hook for their care. Annual growth for these services was 1.3% a year from 2011 to 2016, IBISWorld notes, and through 2021, this industry is projected to grow another 7.8% each year.

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2 – Professional Video Gaming 
Video game tournaments date back to the late 1970s, but e-sports as an industry wasn’t remotely feasible until the late ’90s. Consider that in 1998 there were nine tournaments; midway through 2019, there’s been 2,085, according to E-Sports Earnings, and the top-earning player has earned $3.7 million in prize money. Twitch-fueled, league-driven, NBA-beloved, ESPN-approved e-sports were valued at $500 million in 2016 by Goldman Sachs, which expects the market to grow into a $3 billion annual proposition.

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3 – Online Food 
Let’s just start the timeline at June 2017. Sure, there were already grocers with online ordering and services such as Peapod and Instacart, but it was Amazon buying Whole Foods that really changed things. With Aldi, Costco, and Kroger jumping on with Instacart after the Amazon deal and Albertsons expanding delivery, annual growth expectations are now 30% annually, the Freedonia Group reports. Walmart says it’ll do 40%.

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4 – Robotic Mowers
Husqvarna crowed when it sold its 1 millionth robotic lawn mower in 2017, part of a global lawn mower market estimated at $26 billion in 2016 — but that was 23 years after its invention, reasonable growth considering a robotic lawn mower costs $600 to $3,500, the same price as a riding lawnmower. Would you pay that much extra to have someone else mow your lawn? Freedonia Group analyst Elliot Woo thinks you will, and that U.S. robotic mower sales in the will triple between 2016 and 2021.

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5 – Relaxation Beverages
They used to just call this tea, but relaxation drinks — the counterweight to energy drinks — first appeared in the mid-2000s and have spawned hundreds of options. These drinks expanded their corner of the beverage industry by 15.7% annually in revenue between 2013 and 2018, IBISWorld notes. The downer version of energy drinks has the potential to be as much of a convenience-store staple as their counterparts.

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6 – Online Surveys
Online surveys are far less expensive than hiring a polling company or doing phone surveys (because who uses a phone as a phone?). That’s created a glut of online survey companies, with the industry seeing growth of nearly 12% annually since 2014, IBISWorld notes. Still, with just two companies accounting for 41% of the industry’s revenue, there’s room for growth.

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6 – Fracking
While the hydraulic fracturing process dates back to the 1800s, it wasn’t used in conjunction with horizontal drilling to extract oil and natural gas from shale until 1997. Even then, it was after 14 years of trying and still required a great deal of innovation in the 2000s to perfect. It’s been only about a decade since prices at U.S. gas pumps hit $4 a gallon, and the Bureau of Labor Statistics believes oil and gas extraction jobs will increase by more than 30% through 2026.

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7 – Drones
The Federal Aviation Administration didn’t permit small drones until 2016, but PayScale notes that now drone pilots can earn over $22 an hour as use grows from the military to construction, firefighting, crop inspecting, filmmaking, and package delivery. Insurance companies even used them after Hurricane Harvey to inspect damage. The drone market was around $14 billion globally in 2018, but is expected to hit around $43 billion by 2024.

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9 – Marijuana
The District of Columbia and 33 states have legalized marijuana in some form. Eleven states and D.C. have legalized it for recreational use. Though most governments are proceeding slowly, marijuana was a $10.4 billion industry in the U.S. in 2018 and employs more than 200,000 people full time.

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10 – Cryptocurrency Mining
This year marks the 10th anniversary of Bitcoin, the first cryptocurrency. Bitcoin alone has a market cap of more than $228 billion, and there are at least 17 others surpassing the $1 billion mark. But it takes a whole lot of energy to mine cryptocurrency — with units being created and handed out to “miners” using specialized hardware and software to take part in the decentralized record of transactions called blockchains. Some of the greatest business minds still aren’t convinced it isn’t a scam.

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