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Fastest growing industry in coming decade? VOIP

Industry research firm IBISWorld listed the 10 best and worst performing industries in the aughts by revenue growth, and projects the 10 best and worst for the teens. My only caveat is that if they had done this in 2000, they wouldn’t even have had the VOIP industry listed. Who knows what new industry will spring up and grow wildly? The text below the charts is their’s. Fascinating stuff.

Winners in the past decade (2000-2009)

Rank

Best Performing

Growth

1

Voice Over Internet Protocol Providers (VoIP)

See Note

2

Search Engines

1655.9%

3

eCommerce & Online Auctions

468.9%

4

Online Dating & Matchmaking

248.8%

5

Tank & Armored Vehicle Manufacturing

244.7%

6

Petrochemical Manufacturing

221.2%

7

Mining Support

186.7%

8

Wireless Telecommunications Carriers

183.4%

9

Biotechnology

182.1%

10

Warehouse Clubs and Supercenters

146.5%

Note: VoIP is a new industry that only began to earn revenue in 2002.  In the short period to 2009, revenue growth accumulated to an astronomical 179035.8%. Winners in the coming decade

Rank

Best Performing

Growth

1

Voice Over Internet Protocol Providers (VoIP)

149.6%

2

Retirement & Pension Plans

133.7%

3

Biotechnology

127.6%

4

eCommerce & Online Auctions

124.7%

5

Environmental Consulting

120.3%

6

Video Games

112.9%

7

Trusts & Estates

105.7%

8

Search Engines

100.9%

9

Recycling Facilities

80.9%

10

Land Development

72.7%

While the technology and innovation industries that have thrived in the past 10 years are generally expected to continue their run through 2019, the winners of the next ten years will also share the stage with a recovery in financial services and increasing social concerns (e.g. environment). Losers in past decade

Rank

Worst Performing

Growth

1

Men’s & Boys’ Apparel Manufacturing

-89.1%

2

Clothing Accessories Manufacturing

-76.2%

3

Money Market & Other Banking

-73.3%

4

Broad Woven Fabric Mills

-72.7%

5

Women’s & Girls’ Apparel Manufacturing

-71.4%

6

Apparel Knitting Mills

-70.9%

7

Leather Tanning & Finishing

-70.0%

8

Manufactured Home Dealers

-67.4%

9

Circuit Board & Electronic Component Manufacturing

-63.9%

10

Recordable Media Manufacturing

-63.7%

Industries that have not performed well are primarily in the slow decline stage of their life cycle and continue to grapple with competitive pressures ranging from overseas supply sources to product substitution threats originating from other industry sectors. Losers in The Coming Decade

Rank

Worst Performing

Growth

1

Wired Telecommunications Carriers

-52.0%

2

Tank & Armored Vehicle Manufacturing

-51.9%

3

Vacuum, Fan & Small Household Appliance Manufacturing

-34.4%

4

DVD, Game & Video Rental

-32.8%

5

Photofinishing

-31.5%

6

Lighting & Bulb Manufacturing

-26.8%

7

Telecommunications Resellers

-26.4%

8

Laminated Plastics Manufacturing

-25.3%

9

Synthetic Fiber Manufacturing

-24.6%

10

Wire & Spring Manufacturing

-24.5%

Over a 10 years, the industries that outperform or underperform their peers are those that either benefit from competitive strategic advantages or worse, suffering from significant disadvantages.  While the performance of the economic recovery will dominate near-term industry performance measures, innovative products, competitive costs and improving efficiency will continue to separate the winners from the losers in the upcoming decade (2009-2019).

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