Despite endless economic obstacles, several U.S. projects are growing rapidly and seem to emerge well in the next five years. After checking with the current data reflected on the Custom Market Insight, one can get an overview of several segments, more than 500, to be precise.
Let us explore these developing industries in 2024 in the land of the U.S.A. Let us take you by surprise by saying that technologies are taking some of them to another level.
Automotive Batteries
According to Custom Market Insights (CMI), The Global Lithium-Ion Battery Market size was estimated at USD 42.5 billion in 2021 and is expected to reach USD 48.80 billion in 2022 and is anticipated to reach around USD 184.15 billion by 2030, growing at a CAGR of roughly 18.5% between 2022 and 2030.
As hybrid electric vehicles (HEVs) become more widely known, they significantly affect car battery demand. Electric vehicles (EVs) need more expensive batteries than regular cars, which also caused a rise in the use of HEVs.
Pet Supplements
The demand for pet supplements has been growing a lot in the past few years as people have become very focused on the health and well-being of their pets, particularly more from the. The COVID-19 pandemic is one of the biggest reasons for this rise in demand for CBD products for pets. CBD supplements for pets have become very common and well-known among pet owners.
In 2022, the pet supplement market reached its growth, increasing by 10.5% and crossing the $1.0 billion set by the market. This report is from “Pet Supplements: United States.” The pet supplement market thrives as owners intend to keep their pets healthy.
Motion Pictures
In 2022, the movie industry was worth a massive $97.8 billion. Streaming movies or shows of your choice anywhere online has developed the movie industry globally. Market researchers say that by 2027, the movie industry will be worth $153 billion. That’s a CAGR of 9.3% each year. As per the current market research conducted by the CMI Team, the global Entertainment Industry market is expected to record a CAGR of 11% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 29.86 billion. By 2032, the valuation is anticipated to reach USD 49.56 billion.
Credit Cards
The debit card and credit card market has also shown rapid growth, and more people use it commonly for everyday purchases. It increased at a CAGR of 8.9% from $9.8 trillion in 2022. By 2026, this market will be valued at an amazing $13.7 trillion. As per the current market research conducted by the CMI Team, the global Credit Card Payments Market is expected to record a CAGR of 9.1% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 152.2 billion. By 2032, the valuation is anticipated to reach USD 286.5 billion.
Plant and Cultured Cell-Based Meat Alternatives
A large number of people have switched their diet to plant-based as people are becoming more concerned about their health and looking for more plant-based meat alternatives to satisfy their Meat needs and cravings. As a result, the market for these plant and cell-based alternatives is expected to increase at a CAGR of 8.4% till 2027. By 2027, it will be valued at $2.6 billion.
I.T. Technical Consulting Services
I.T. technical consulting services help organizations with their computer and technological problems. This service is expected to keep growing steadily. The CAGR is said to rise by 8.2% until 2026 in the United States. This growth rate is faster than other types of I.T. services. I.T. experts will earn more as there will be increased demand for experts.
Buses
Buses are not something you will think of as a growing business, but they are in great demand in the U.S. According to market researchers, the CAGR will increase by 8.1%. By 2026, the number of buses is said to increase from 38,000 to 56,200 units. This information comes from a report called “Buses: United States.”
E-Commerce
The E-commerce market was worth $956 billion in 2021. Experts say it will increase at a CAGR of 7.7%. By 2026, the E-Commerce market will be valued at $1.4 trillion. This information comes from a report called “E-Commerce: United States.
Pet Products and Services
The pet industry, which includes pet supplements, is growing rapidly. In the United States, retail sales of pet products and services are expected to reach 192 billion by 2027. This represents a yearly increase of 7.3% from $135 billion in 2022.
The growth is driven by a greater focus on pet health and wellness, especially after the pandemic. Pet owners are increasingly investing in premium health products and services for their pets to maintain their well-being and prevent health issues. This trend benefits all sectors of the pet industry, including food, healthcare, grooming, and accessories.