The online industry is continuing to rise as the internet’s influence on the economy has raised as much as 5% annually due to ad-supported contributions. With the annualized revenue growth over the past ten years, the most successful industries all share one trait in common – they are all online-based.
The social media industry tops the charts with an annual growth rate of 134% since the start of 2003. With the second in the lead comes consumer e-commerce industry as online fashion, photo printing, greeting cards, shoes, and household furniture sales have all made a recorded growth over the past ten years.
Check out the five online industries growing at record rates.
Social Media Industry
The Social media industry came into existed nearly ten years ago when messengers such as AOL and Yahoo chat allowed people to communicate and share content with each other. Now more than ever, the social media industry is home to Twitter and Facebook. The popularity of these social platforms has opened doors to welcome the advertisement industry as they focus on strategically placing ads on the platform for access.
The rise of social networks is allowing power users to increase their stable monetizing bases through digital advertisements, with lets users gain awareness in brands. The largest US-based social media networks include Facebook, Twitter, Pinterest, and LinkedIn. In Russia, the vast social network is called Vkontakte, while China houses TENCENT HOLDING-ADR and SINA Corp.
In 2016 alone, the total retail sales reached over $22 trillion, with an increase of 6% from 2015. According to eMarketer, it is estimated to reach as much as $27 trillion by 2020. E-commerce includes all retail channels and transitions that occur on consumer platforms such as Amazon, eBay, and other purchasing sites.
Retail e-commerce sales include services and products that are ordered through the internet. EMarketer expects the increase in electronic commerce will increase. The Asia-Pacific will remain the largest retail e-commerce market in the world as sales projected to double to nearly $3 trillion. With the greater mobile and internet expansion, the growing competition from e-commerce players and infrastructure and logistics will fuel the growth of electronic commerce in the region.
Online Supplement Industry
Since 2009, millions of consumers are becoming more self-conscious of their diet and are taking vitamins and dietary supplements to promote good health and reduce the risk of illnesses. According to the UK’s Food Standards Agency, the nutritional supplement industry has grown an annual 15% every year with the supplement market growth is more than $7 billion.
With the available of supplements, the growth of sales has increased as various supplements range from zinc and acai capsules to royal jelly. Even the formulations and dosage differ per product, making specific supplements and vitamins a necessity.
According to the World Cancer Research Fund, dietary supplements contain herbal materials, vitamins, and minerals. They can be found in capsules, pills, tablets or liquid form and are great improving your diet.
Along with the large range and variety, the growth of the supplement market is tied to health benefits. The supplement industry is becoming a long-term success as consumers are now more interested in their health more than ever – meaning they are also willing to spend more on vitamins and supplements.
The total e-book publishing revenue has been expected to increase with a mere 1.9% growth. The overall increase of educational books makes up nearly half of the market. Consumer book revenues are driven by best-sellers.
At the expense of print, e-books are growing in demand as independently self-published e-books are becoming the top involved taxes. E-book publishing has experienced annual gain of 88% since 2003.
Fantasy Sports Services
The growth of Fantasy sports in North America has continued to grow over the past year. The total number of players involved in fantasy sports is estimated to be around 57 million in just the United States and Canada.
While the figure is a new watermark for today’s Fantasy Sports industry, it can increase as more than 82% of players are involved all season. However, 17% of players are exclusive to DFS.
The percentage of fantasy sports players rose from a mere 64% in 2015. Over 60% of Fantasy sports players say that read and watch more live games due to fantasy sports.
With the rise of online commerce and the advanced technology in mobile devices, we are expected to see a higher growth rate within the next years to come.