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The United States is the fastest growing country in the world where every new and innovative thing is researched and invented. Whenever research is conducted on something new, almost 90% of experiments fail, while 10% succeed. Those successful experiments are then immediately introduced to the market. In today’s digital world, new trends are seen and anything is launched in the market. The United States of America’s technological advances, along with the global Change and World’s Priorities Change, are making the economy stronger every day.                                                  In few years, some industries in the United States have made significant progress in keeping with new consumer demands and emerging trends. In this article we discuss about the top growing industries in USA which is very important for businessmen’s, investors and employees to progress.

1. SOFTWARE DEVELOPMENT AND IT SERVICES

The USA is a worldwide leader in software development and information technology (IT) services working in artificial intelligence (AI), Cybersecurity, advanced infrastructure and emerging technologies.                                                                                                                                                                                                                                                                This industry is divided in different sectors like software development, application development, systems integration, cloud services, enterprise solutions and support.

The USA software development market plays a significant role in global demand. It’s expanding rapidly across various industries like Healthcare, Banking and Financial Services. The United States software development and information technology services are leading to generate revenue through domestic and international clients. The software development is the largest revenue generated segment in USA market that made mobile applications and web software to enterprise systems. Different organizations seek information from Information Technology (IT) to adopt new strategy in tech and long-term goals.

The advancing technologies of U.S. software and IT services ecosystem is making strong. Artificial Intelligence (AI) is the leading advance technology in the USA as well as in the world. The new world of technology has made it easier. Many tasks that used to take a lot of time to complete have become easy with Artificial Intelligence. As technology progresses digital transformation comes increased security risk. Cybersecurity fulfils the demand of secure software design and threat detection. There are some leading technology and software firms:

• MICROSOFT

• IBM

• ORACLE

• ACCENTURE

• SCIENCESOFT

• ASCENDION

2. RENEWABLE ENERGY GENERATION

The United States of America has undergone a significant transformation of Electricity from Renewable Energy Generation in recent years. Keeping in mind the new technological innovations, environmental changes and increasing demand for electricity, renewable energy is playing a very important role. In recent years all energy producer sources expands their development.

Key Renewable Energy Sources

• Solar Energy

Solar energy is the radiant light and heat from the Sun using a range of technologies, solar energy is the fastest-growing renewable source in the United States. Big-scale solar farms and smaller distributed solar systems like (rooftop installations) are rapidly expanding to fulfill the needs. Almost 7-8% of total USA electricity generation contributed from combining large installations and small-scale systems.

• Wind Energy

Wind energy is a leading source of renewable electricity, generated by utilizing air currents with turbines installed on land. Wind contributed over 10% of the nation’s total electricity generation, making it the largest renewable electricity source in the U.S.A. There are two types of wind projects for electricity growth one is Onshore wind another is Offshore wind.

• Hydropower

Hydropower generates electricity by harnessing the kinetic energy of flowing water, through large-scale dams or run-of-river systems. Hydropower contributed over 7-8% of the nation’s total electricity generation.

• Biomass

Biomass is a renewable energy source derived from organic materials such as biogenic municipal waste wood and agricultural waste. It contributed approximately 5% electricity.                                                    

Renewable Energy Generation has now provides a 1/4 electricity and growing rapidly day by day in USA.

3. FINANCIAL TECHNOLOGY (FINTECH)

Financial Technology is a way to use a modern technology to improve, moderate and easily accessible of financial services. FinTech is transforming complex and slow work systems into something modern and easily accessible. Which is providing easy access to individuals and businessmen of making their money pay, borrow, saving and investing system even better. Financial technology also known as Fintech is a USA global leading technology of digital banking. This industry is derived in various sectors digital local and global payments, loan services, insurance services neo banking and wealth management. Almost 50% digital payments share in total market and reflect strongly high consumer demand for convenience, efficiency, and digital experiences.

USA Financial Technology (Fintech) main key sectors:

Digital payments: Digital Payments platforms facilitate user’s smooth transactions between consumers, merchants, and businesses. Mobile banking apps now represent for many consumers as primary interface moving money.

Digital Banking: Digital Banking refers as traditional banking services without bank visit like account opening, early paycheck access and saving accounts.

Open Banking: Open banking is a financial services model that enables consumers and businesses to securely share their financial data with third-party providers via (APIs), but only with their explicit consent.

Artificial Intelligence and Machine Learning play significant role in Fintech, improving systems to detect fraud and provide consumers financial help. Now the organizations rapidly use AI-driven systems for low risk rate and enhancing user’s experience.

In United States of America Fintech is not just a working trend, rather it is transforming traditional services to imagined financial services, faster payments, smarter banking and more personalized financial management. Fintech with using the modern technology guides consumers how to money move and services delivered. The USA ecosystem  becomes global leader in next years.

4. ROBOTICS AND AUTOMATION

Robotics and Automation are innovative technologies of USA that are playing a leading role in boosting the economy. Robots are present in every aspect of life, be it industries or healthcare, warehouses and even household work. Many organizations that used to employ humans previously are now using robots to get their work done more efficiently and in less time, which is proving to be very beneficial.

Robots are machines that perform physical tasks with or without the help of humans. Robotics machines are being made in different shapes, sizes and designs which work according to the instructions given in different sectors. Automation is the act of providing manual work without human effort, which is done by applying advanced technology and artificial intelligence to make the work easier, free from mistakes and perform many laborious tasks automatically. Companies are setting up numerous robot manufacturing plants that perform many of the jobs of humans. And numerous innovations in electronics and manufacturing sectors are making rapidly. Given this technology, competition is underway in many countries, involving robots’ speed, efficiency, and the ability to perform the tasks of many humans.

There are some key industries that use Robots:

Healthcare: Robots are excessively using in Healthcare sector as a surgical assistants.

Warehousing and Logistics: There are many logistics companies that using robots in different works like sorting the order, packing and transporting the goods (e.g., Amazon). The use of robots in these companies reduces the labor hiring in future.

Manufacturing Companies: Robots are increasingly using in manufacturing sector for different tasks like repairing, welding, painting and system handling etc. Their excessive use helps the companies to overcome the shortage of Labor and also labor costs.

5. EDUCATIONAL TECHNOLOGY (EDTECH)

Education is very important sector of every country and education plays the most important role in strengthening the foundation of any person. Educational Technology is about to use the digital tools and systems to boost the educational experience like teaching, studying and learning etc. EdTech is one of the top growing industries in USA has growing rapidly across all over the country from play classes to higher education and then their professional life and long time learning. Despite growing this industry there are many challenges to face in this sector.

Educational technology refers a wide range of tools and systems used to support instruction and learning. This technology helps to improve the educational system, access and efficient the learning environments. Artificial Intelligence plays very important role in EdTech. AI tools students use according to their age and understanding so that they can easily acquire education. Along with this, there are other tools for teachers which help them in increasing their efficiency and give better results with less effort.

There are some key factors of Educational Technology in U.S.A

• Personalized Learning
• Mobile and Remote Learning
• Lifelong and Professional Learning
• Interactive Technologies

The United States of America investing in Education market recent years to make it more advance and reliable and finding the better results.

Conclusion

Top growing industries in USA shining in the eyes of people and is benefiting them like a new generation. Software Development, Renewable Energy Generation, Financial Technology, Robotics and EdTech Industries are making the economy strong along with providing a lot of jobs for the people. In the context of all these industries, students, businessmen and investors must get the benefit so that they can make good decisions about their future and earn good capital.

FAQS

1. What are the fastest-growing industries in the USA nowadays?

Ans: The fastest growing industries in USA are Software Development, Renewable Energy Generation, Financial Technology, Robotics and Education Technology.

2. Why the software development technology growing rapidly?

A: Software are frequently used in every department that’ why due to high demand of different software this technology growing rapidly.

3. What are the main sources of Renewable Energy Generation?

Ans: There are five main sources of Renewable Energy Generation are Wind Energy, Solar Energy, Hydropower Energy, Biomass Energy and Geothermal Energy.

4. Is Financial Technology creates convenience for common man?

Answer: Yes, Financial technology has made the banking sector much easier, making it easier to transfer and receiving money without any hassles and branch visit.

5. Is robotics technology taking over labor jobs day by day?

Ans: Yes, you can say that robots do the work of many people alone and in less time, which reduces the labor cost by a lot.

6. Is educational technology beneficial for students?

A: Yes, educational technology is highly beneficial for students. EdTech enhance learning ways and make more accessible and personalized.