Tim Madden is an executive coach and former headhunter. Founder of Executive Career Upgradesits mission is to help accelerate careers.
If you’ve been watching the news lately, you’d be forgiven for assuming the world is on the brink of collapse. Inflation is up and the markets are down – it’s a daunting time to be looking for a job. Yet despite the general direction of the economy, many businesses and sectors are booming.
If you’re ready to seek a new role in 2023, consider targeting the five industries listed below for some of the best opportunities.
Is it really surprising that the first entry on this list is largely from the tech sector? We have seen brick-and-mortar retail plummeting and high numbers of consumers turning to the internet for convenience for some time, and the pandemic has accelerated the trend.
The number of people working in e-commerce and online auctions in the United States grew by 15% between 2017 and 2022. And while some wonder if the golden period of e-commerce growth is over yet, I think the data suggest otherwise.
According to Morgan Stanley, e-commerce could reach 27% of global retail sales by 2026, up from the 22% it enjoys today. This is partly due to the potential for international expansion.
While online shopping has been widely adopted in North America and Asia, it is relatively lagging behind in Africa, Latin America and Western Europe. Therefore, international companies have enough leeway to expand around the world and they need workers to help them take advantage of the opportunities.
2. Cloud Computing
Since the pandemic, one of the biggest trends seen in almost every industry is digital transformation. Companies that were previously reluctant to adopt existing technologies such as remote working and automation have been forced to adapt. And now that Pandora’s box has been opened, it doesn’t seem likely that it will be closed anytime soon.
When people think of this digital acceleration, they tend to immediately consider some of the more exciting or futuristic things, such as artificial intelligence (which is actually the next entry on this list). But the “boring” technology behind the scenes is also incredibly important, and that’s where cloud computing comes in.
Now that more and more companies have embraced remote and hybrid working, they need technology that allows them to collaborate effectively. Cloud computing is essential for this as it instantly synchronizes information and data between different computers.
The cloud computing market is expected to grow by 15.7% per year between 2022 and 2030, reflecting the level of demand.
While many may assume that technical knowledge is necessary to establish a successful career in cloud computing, that is not necessarily true. Project managers, cybersecurity specialists, consultants and other professionals are needed to work alongside engineers.
3. Artificial Intelligence
Few technologies have been more talked about and talked about lately than artificial intelligence (AI). Organizations in virtually every other industry are adopting or considering technology, from robots that can assist with surgical procedures to simple automation tools that can help businesses manage data entry and marketing.
AI is also linked to other emerging technologies, such as cloud computing and the Internet of Things (IoT). For example, a supply chain company can use sensors to monitor items in a factory and add that data to an enterprise-wide program on the cloud, and then AI can analyze the information to determine if there are any potential problems.
No wonder the global AI market is expected to grow by 20.1% between 2022 and 2029. And with many new startups appearing in this sector, companies need professionals in all fields of activity, from from finance to marketing to customer service.
All of the industries we’ve looked at so far have been tech-related in one form or another, but going digital isn’t the only way to boost your job prospects. The US Bureau of Labor Statistics (BLS) forecasts that healthcare employment will grow 13% between 2021 and 2031, making it one of the most promising sectors in the country right now. current.
While many occupations in this industry are technical roles like doctors and nurses, there are also many jobs related to management or other business services. For example, the median salary for a director of medical and health services (who directs and coordinates various health care providers) is $101,340, and his job prospects are expected to increase by 28% over the course of the year. same period, which is still higher than the industry average.
During the pandemic, there was hardly a worse industry than hospitality, with many businesses unable to operate and having to abandon their teams. But as a result, it is now one of the areas with the best growth. Talk about a turnaround.
In the BLS’s projections of the industries with the fastest growing wages and salaries, jobs in the recreation and hospitality sector accounted for seven out of 20 positions.
While many would associate the industry with service positions, there are also plenty of opportunities for managerial and professional positions in the back offices of major hospitality companies. Why not take advantage of the boom?
Don’t let the doomsayers get you down.
As you can see, the opportunity is there. Even though the economic climate seems bleak in many ways, many industries are thriving – if you enter the right sector, you’ll have every reason to look forward to a bright future.
Who knows, you might even play a part in developing the latest technological innovations in AI or cloud computing.
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