Meta: Do you know what the fastest growing industries in the UK are in 2020? Find out more about what these industries here in this article as we discuss.
If you have been paying any attention to the stock market, you’ll know that there are some industries that are experiencing a lot of growth this year. Businesses within these industries are becoming extremely profitable as more people are taking note and investing their money in them. These industries are evolving and new businesses are booming. So, what are the fastest growing industries in the UK? Read on to find out more.
Language Learning Apps
In many UK schools, students learn at least one language throughout their time there. However, as we get older, it can be difficult to remember everything we have learnt and so many turn to additional language classes. In 2020, these classes are moving online and can be found in apps such as Duolingo. These apps are extremely accessible and, in many cases, free to use. As more people become seasoned travellers, the demand for language tools increases. For this reason, the language learning software industry has been growing quickly.
Life Insurance
With more people in the UK starting to become more aware of their health and future, the life insurance industry has started to boom. Life insurance isn’t typically something that many people think about until their later life but if you consider the baby boom, much of the population in the UK has reached this part of their life. However, there has also been an increase in the number of younger people purchasing life insurance. This could be due to an increased awareness of health or an increase in advertising. Either way, the result is great for this industry.
Online Gaming
It goes without saying that the online gaming and gambling industry has been growing rapidly over the past few years. With an improvement in technology and the invention of immersive tech, online gaming has truly become something quite impressive. Online casinos are popping up everywhere and they are generating a lot of money. If there was an industry to invest in this year, the online gaming industry would be the best place to start.
Online Food Delivery
Another industry that has been growing rapidly over the past year or two is the online food delivery industry. As more people are spending time at home, they are ordering food online. In the past, food delivery would have been most used by takeaways but now, restaurants have evolved and are allowing customers to receive deliveries. Some of the biggest companies to experience growth over the past few years include Deliveroo, Just Eat and Uber Eats.
Health-Tech
Finally, you will find that the health-tech industry is one that has experienced a lot of growth more recently. As more people want to look after themselves, they are investing in technology that allows them to do this. Health-tech can involve everything from watches that monitor your heart rate to smart devices that can tell you how long you slept for. As new technology continues to evolve, this industry is sure to be successful for many more years. We would highly advise keeping an eye on this industry.
Final Verdict
As you can see, there are plenty of fast-growing industries in the UK right now. These industries have been rapidly growing and they will continue to do so for a while. Even if you don’t pay much attention to online gaming or the life insurance industry, you should consider taking note of their success. For anyone hoping to start a new business or invest in 2020, these are the industries to watch.
