Hopewell Valley Student Podcasting Network
Show Name: All About Business
Episode Title: Big Industries with Big Money
Tweet to be shared on the network’s twitter handle: Check out the latest episode of #allaboutbusiness the podcast on hvspn.com. I will talk about some of the most important industries and which ones will grow significantly in the future.
You are listening to All About Business, the podcast with your host(s) Prithvi.
In this episode of All About Business the Podcast I discuss: the industries of business, why they are important, and what industries have the potential to grow more in the future.
Segment 1: Different Industries and Brief Descriptions of Each One.
For our first segment I will be discussing some of the major business industries and give a brief description on each of them.
- Sells electronics like phones, computers, tablets, TV’s, etc.
- Software/Programs, examples: excel, word documents, search engine/web browser, OS system, graphics program, pretty much any application you use on your phone, computer, or any other electronic device with applications.
- Hardware development of CPUs, motherboards, graphics cards, any physical parts or components of a computer.
- Artificial Intelligence: The development of AI or a simulation of human intelligence in a computer.
- E-Commerce: Buying and selling of goods or services online, examples Amazon, Ebay, Etsy, Fiverr, and Alibaba. These are just some of the major E-Commerce companies, most businesses like Walmart and Target also have E-Commerce websites.
- The healthcare industry is made of companies that offer medical services, manufacture drugs, manufacture medical equipment, and offer medical insurance.
- The healthcare industry helps diagnose and treat patients, these companies also play a role in nursing and management of illness, disease, and injury.
- The healthcare industry is also intertwined with the technology industry because new medical equipment, drugs, and treatments are being developed constantly by Medical Technology companies who specialize in the invention, development, and production of medical technology that I listed earlier.
- The agricultural industry is the science of cultivating plants, animals, and other sources of food.
- For example, apples, oranges, peaches, corn, strawberries, blueberries, pumpkins, tomatoes, and watermelons are some of the plants that farmers grow.
- Cows, pigs, and chickens are just a few examples of animals that are raised for food in the agricultural industry.
- Retail is the process of selling products and goods to consumers through stores.
- Retail stores include grocery stores, clothing stores, book stores, or pretty much any store that sells a product that was manufactured or produced.
- The transportation industry is the movement of humans, animals, products, and goods from one location to another.
- Humans use cars, boats, trains, and planes to get from point A to point B.
- Products and goods are transported from a manufacturer or a producer to a retailer.
- Animals are also transported usually for food to grocery stores.
Segment 2: Why they are important
This segment will explain why each of the industries that I mentioned earlier are important and essential.
- The technology sector is a vast and ever growing industry that brings in trillions of dollars each year. As of 2020 the technology sector brought in $5.2 trillion dollars globally and in the U.S. is expected to bring in $5 trillion by the end of 2021. Consumers are constantly buying new phones, computers, tablets, smartwatches, etc. Companies are using more and more applications in order to create E-Commerce websites and to organize and run their companies more efficiently. Technology is making its way into every other industry that we know of whether it’s through machinery and electronics or software and applications.
- The healthcare industry is essential because without it we wouldn’t be able to treat, cure, and prevent diseases and injuries that could harm or even potentially kill us. It was worth around $8.45 trillion in the U.S. and $11.9 trillion globally as of 2018. The healthcare industry is becoming a lot more safer and more advanced because companies are inventing new machines to help with the treatment of patients.
- The agricultural industry is an extremely important industry because it is the main producer of food. The agricultural industry produces fruits, vegetables, plants, and animals/animal products for billions of people. As of 2020 the agricultural industry was worth $9.6 trillion globally and is expected to grow to $10.18 trillion by the end of 2021.
- The retail industry sells products like food, clothes, electronics, appliances, etc. to consumers. Without retailers it would be hard for customers to buy products that they need or want. The retail industry was worth $25 trillion in 2019. A huge industry compared to the others but recently many retailers closed down due to the pandemic.
- The transportation industry transports people, products, goods, etc. from one place to another. It helps connect manufacturers and producers/farmers with retailers and grocery stores. Without it we wouldn’t be able to buy products that manufacturers make straight from retailers. As of 2020 the trucking industry was worth $2.1 trillion. It’s hard to pinpoint exactly the total worth of the industry which includes air, boat, car, and train travel/transportation.
Segment 3: Which industries will grow significantly in the future.
The final segment will talk about which industries have the potential to grow exponentially in the future. This may include industries discussed earlier and other industries that I will now introduce.
- The technology sector will definitely grow because of how infinite the possibilities for the industry seem. Since new technologies are constantly being developed, produced, and then sold the industry has no choice but to grow. The technology industry has its reach over every industry and every market in the world like healthcare, agriculture, retail, transportation, real estate, insurance, etc. each of these industries and more utilize technology in one way or another. The E-Commerce sector, which is included in the technology industry, is already dominating the market and is growing fast. As long as there are companies that develop and produce new technologies the industry will grow.
- The healthcare industry has to grow because of the development of new medical equipment, drugs, treatments, and cures. The technology industry plays a key role in healthcare because medical equipment is required to treat and diagnose a patient properly without any equipment curing, treating, or operating on a patient becomes extremely difficult which could cause a higher mortality rate.
- The automobile industry is already growing significantly due to the rise of electric and hybrid cars. Companies are also developing cars with more safety features, like lane assist, self parking, automatic braking, and better protection against crashes. Self driving cars are already in the market with Tesla at the forefront with its cars that can drive on highways without any assistance required. Fully self-driving cars are still out of reach, in the future when they are developed, they may help boost the industry significantly.
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