The last several decades have seen unprecedented growth in our scientific knowledge and ability to apply this knowledge to spur the creation and growth of a number of industries. As the rate at which our technology advances has remained more or less constant, so has the number of new areas of research springing up as well as the new industries they underpin. Consequently, the global technology market is now worth more than ever and is expected to reach $10.3 trillion globally by 2020. It is therefore unsurprising that there are more companies and individuals than ever before now trying to make inroads into one of the endless variety of science and technology fields that exist today.
Below is a quick guide to some of the fastest growing sectors of the market which will likely be significant contributors to global turnover throughout 2018.
Information Technology
Information technology (IT) is a very broad term, but is generally applied to the business of supplying businesses and other entities with the computing and networking solutions that allow them to operate their own internal network as well as effectively interface with outside clients. Jobs within the field of IT cover a diverse range of functions and skill sets. For example, software engineering, designing proprietary software to carry out specific functions on behalf of client businesses, has been one of the most significant drivers of growth across the industry.
Increasingly specialized fields of research and industry are requiring ever more specialized software in order to satisfy the desires of consumers and the ever more complex demands of the industries themselves. Software engineering jobs also tend to involve a degree of technical support after the product has been delivered to the client, which opens up more opportunities for a continuous revenue stream as well as repeat business and an easy route for building relationships with clients.
Biotechnology
Biomedicine, also called medical biology, is a field of science which is concerned with applying our understanding of biology and physical biology to the world of clinical medicine. Over the last couple of decades, the field has increasingly incorporated various biotechnology fields into its remit. Biotechnology is artificial technology based on natural biology.
Much of the research carried out by those in the biotechnology field has applications to the medical fields, but the approach of turning to biology for inspiration overcoming technical hurdles is useful in a number of areas. One particularly striking example of this can be seen in the design of the next generation of television screens which draw influence from the swallowtail butterfly native to eastern and central Africa. This particular species of butterfly has very distinctive and vibrantly colored wings, which, researchers discovered, produce the colors we see by biological means that are not dissimilar to the way we design televisions to use organic light emitting diodes (OLEDs).
Biotech solutions look set to help us overcome a number of obstacles and could help to restart numerous areas of research which are currently dormant due to a lack of viable solutions and entrenched technological barriers. The field is also addressing more universal problems such as working to produce crops which can generate a higher yield than average, even under less than ideal conditions. The strides the biotech industry has made in streamlining various chemical manufacturing process has helped save businesses billions of dollars every year.
Environmental Science
Every year focuses our attention more starkly on the issues of pollution and climate change. Environmental science was once a relatively niche field of study, but is now one of the most important undertakings we are engaged in as a species. Environmental science tries to assess and quantify the impact of our life and societies on the Earth as a whole.
Currently, environmental scientists mostly focus on the effects that anthropomorphic climate change is having on the coldest regions of the Earth, namely its poles. By using equipment such as an o2 probe, scientists can take precise measures below and above the surface to determine the precise nature of current conditions and can compare these against previous measurements to make deductions about likely future trends.
The nature of both science and technology means that they are both fast-moving fields and those looking to either gain employment or capitalize on the success of any part of the tech industry needs to move fast and be adaptable. Fortunately, the diverse range of jobs and working environments on offer means that just about any conceivable skillset is of use somewhere within the wider industry.
