Based on the expert analysis and our database of 70+ Global industries, IBISWorld presents a list of the Global Fastest Growing Industries by Revenue Growth (%) in 2024
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View a list of the Top 25 fastest growing industries2024-2025 Revenue Growth: 16.6%
Global reinsurance carriers focus on assuming all or part of the risk associated with existing insurance policies originally underwritten by direct insurance carriers. The essential function of these carriers is to insure insurance companies. The industry performed well during the current period because rising healthcare expenditure increased premiums for health insurance companies. These insurers increased their demand for global reinsurance carriers to hedge against risk. The industry also performed well in the years before COVID-19, as soaring equity markets increased demand from insurance companies and boosted investment income for the industry. The pandemic reduced global consumer spending and per capita... Learn More
2024-2025 Revenue Growth: 12.2%
The Global Military Shipbuilding and Submarines industry has continued to expand amid rising geopolitical tensions. The US, other Western governments and Asian countries continue to be the largest markets for military shipbuilders. Despite the pandemic's effects, revenue has remained steady, as contracts were already placed beforehand.
The United States, the largest market for the industry, has increased spending on shipbuilding and conversion as it has sought to maintain its ability to project power abroad, protect trade lanes and defend allies. Meanwhile, some of the biggest surges in naval expenditures have come from developing nations (China, Russia, India and East Asian countries).... Learn More
2024-2025 Revenue Growth: 11.6%
The industry will increase at a CAGR of 0.8% to $2.3 trillion over the five years to 2023, including a growth of 13.9% in 2023 alone. Global tourism has performed well during most of the five-year period, with emerging economies stimulating growth. Countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. But because of COVID-19, industry revenue collapsed 40.1% in 2020. The global outbreak had an enormous effect on all tourism-related industries as many countries suspended international travel and limited the... Learn More
2024-2025 Revenue Growth: 8.2%
Over the five years to 2023, the industry has benefited from growth in global consumer spending and world GDP. Growing consumer spending led to expanding downstream markets, including manufacturing, retail and wholesale businesses. In addition, rising demand from emerging markets, such as China and India, has boosted demand for cardboard containers. But strong fluctuations in the world price of wood pulp have hampered revenue growth in specific years. However, supply chain disruptions during and following the COVID-19 pandemic caused prices to increase and revenue to surge. Altogether, industry revenue is expected to grow at a CAGR of 7.2% to $458.3... Learn More
2024-2025 Revenue Growth: 6.9%
Global casinos and online gambling businesses are still reeling from the aftereffects of the pandemic, with some rebounding swifter than others, depending on their country of operation and specialization. Sinking tourism rates, especially in 2020, left many casinos in dire straits, even if they were able to remain open in some capacity. Many have since reopened, welcoming eager tourists, but some, like those in Macau, continue experiencing operational delays related to the pandemic in 2023. As a result, though revenue began rebounding as early as 2021, revenue has been declining at a CAGR of 1.8% over the past five years,... Learn More
2024-2025 Revenue Growth: 6.0%
Ongoing trade liberalization, global economic expansion and growing Asian economies have been the main factors propelling global marine and container terminal operators. However, slower global growth tempered industry expansion, while uncertainty due to geopolitical tensions further setback industry performance. The COVID-19 pandemic's disruptions to international trade led to major volatility as shipping volumes surged following a contraction in 2020. As a result, revenue has increased at CAGR of 3.2% to $67.0 billion through the end of 2023, including a 3.0% increase in 2023 alone as trade flows remain elevated.
Steadily rising levels of global consumer spending and production activity contributed to... Learn More
2024-2025 Revenue Growth: 5.7%
Digital music has ultimately shifted how artists engage with fans, a transition that has had major implications for global music producers and distributors. Digital sales have plummeted as subscriptions to streaming platforms providing massive libraries of albums surge. Physical sales have dipped but declined considerably as a share of revenue because of surging growth from streaming royalties. Industry-wide revenue has been growing at a CAGR of 4.4% over the past five years and is expected to total $38.7 billion in 2023, when revenue will jump by an estimated 3.3%, with profit set to climb to 9.5%.
The outbreak of COVID-19 had... Learn More
2024-2025 Revenue Growth: 5.7%
The digitization of the global economy and expanding internet usage have reduced demand for newsprint and other traditional paper products, curbing growth for the Global Paper and Pulp Mills industry over the past five years. Still, mills have benefited from expanding developing economies in Asia and South America. Over the past five years, consumer spending and online retail growth have supported demand for packaging paper, offsetting declines from traditional paper segments. Revenue has stagnated over the past five years, staying at an estimated $492.1 billion in 2023. Inflationary pressures will push revenue down by an estimated 2.2% in 2023 alone.
While... Learn More
2024-2025 Revenue Growth: 5.7%
Over the five years to 2023, the Global Hotels and Resorts industry has expanded. Initially, strong growth before the pandemic occurred as consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This factor resulted in a substantial increase in hotel rooms and occupancy rates, two indicators of a hotel's performance. Global tourist arrivals were also steadily increasing until a drastic drop in 2020 due to the worldwide spread of COVID-19. In 2020 alone, industry revenue declined 40.1% due to the pandemic effect. The pandemic has enormously influenced all tourism-related industries, as many... Learn More
2024-2025 Revenue Growth: 5.5%
Graphic designers create visual concepts by hand or using computer software to communicate ideas, craft brand images and captivate consumers. Companies also produce and design layouts for advertisements, brochures, magazines and corporate reports. Demand for design services is driven by downstream markets, which include consumer goods manufacturers and advertisers. Rising global per capita income and consumer spending have led to increasing corporate expenditures over the five years to 2023, though the COVID-19 pandemic caused a temporary decline in 2020. Revenue is forecast to rise at a CAGR of 2.9% to $49.7 billion over the five years to 2023, including growth... Learn More
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