Fastest Growing Industries in the US by Revenue Growth (%) in 2019

1. Wind Turbine Installation

2018-2019 Revenue Growth: 53.5%

The Wind Turbine Installation industry provides services related to the construction of wind power farms, including site planning, turbine transportation and component assembly. Industry operators generate the vast majority of their revenue from services related to the installation of new wind capacity. Wind energy generation has grown strongly over the past five years, largely due to favorable government mandates and incentives for renewable energy. However, federal incentives have been inconsistent, leading to uneven growth in turbine installations between years. For example, the industry hit a trough in 2013 due to the temporary expiration of a key federal tax incentive. Consequently,... Learn More

2. Automated Guided Vehicle Manufacturing

2018-2019 Revenue Growth: 48.2%

Over the past five years, the Automated Guided Vehicle (AGV) Manufacturing industry has rapidly expanded. Industry operators design, manufacture and install AGVs, which are mobile robots used for material handling and tracking or repetitive tasks. Persistent economic growth has been driven by strong gains in consumer spending. As a result, more manufacturers, logistics companies and others purchased AGVs to move the rising amount of goods throughout their facilities while reducing manual labor costs. In particular, operators in these sectors used AGVs to improve efficiency and reduce operating costs in the long term. As a result, industry revenue is expected to... Learn More

3. Solar Power in the US

2018-2019 Revenue Growth: 38.8%

The Solar Power industry has experienced clear skies over the five years to 2019, propelled by favorable government incentives in the form of renewable portfolio standard (RPS) targets and tax credits. RPS legislation, currently implemented in 29 states and territories, requires local utilities to generate a percentage of their total energy portfolio from renewable sources. Meanwhile, increased public support for green energy has led to tax incentives and grants to encourage investments in solar power. Additionally, equipment costs have continued to fall during the five-year period. In light of these trends, industry revenue is expected to grow at an annualized... Learn More

4. Social Networking Sites

2018-2019 Revenue Growth: 38.2%

Since going mainstream over a decade ago, hundreds of millions of Americans have embraced social networking websites; from Facebook and Twitter to LinkedIn and dozens more, people use these networks maintain relationships with friends, follow the news and share photos and videos. By leveraging user data for targeted advertisements, where the supermajority of revenue is derived, operators in the Social Networking Sites industry have been able to capitalize on the popularity of their platforms. Over the five years to 2018, the industry has surged at an annualized rate of 36.0% to $34.0 billion, including a 17.5% rise in 2018 alone.... Learn More

5. Telehealth Services

2018-2019 Revenue Growth: 37.0%

The Telehealth Services industry uses digital technology to deliver medical services and health education by connecting multiple users in different locations. Telehealth services include diagnosis, treatment, assessment, monitoring, communication and education. The industry includes a wide range of information, networking and digital imaging technologies, delivered primarily in three ways: videoconferencing, which provides real-time patient-provider consultations and provider-to-provider discussions; remote patient monitoring, in which electronic devices transmit patient health information to healthcare providers; and store-and-forward technologies, which transmit digital images, such as X-rays, computerized tomography (CT) scans and video clips between primary care providers and medical specialists. Technology serves as the... Learn More

6. Peer-to-Peer Lending Platforms

2018-2019 Revenue Growth: 34.8%

Over the five years to 2019, peer-to-peer (P2P) lending platforms have evolved from a handful of start-ups to an industry worth $2.0 billion. In particular, the P2P Lending Platforms industry has reached a mature stage of growth as leading platforms have taken their companies public, reached profitability and formed industry associations.

Pioneered and introduced in the United Kingdom in 2005, P2P lending platforms facilitate loans from individual investors that pool their money via operators' online platforms to loan money to consumers and small businesses. However, the industry's competitive advantage lies in its proprietary credit evaluation algorithms, which go beyond FICO credit... Learn More

7. Medical & Recreational Marijuana Stores

2018-2019 Revenue Growth: 30.9%

The Medical and Recreational Marijuana Stores industry, which includes stores that retail medical marijuana (by prescription only) and recreational marijuana, expanded dramatically over the five years to 2019. The 2016 election cycle, in particular, provided landslide victories for both medical and recreational cannabis retailers. Consequently, the legalization of marijuana for medical and/or recreational purposes and the growing acceptance of medical marijuana provided operators and investors with unprecedented opportunities. There has been no shortage of demand over recent years, and the cannabis industry has become one of the fastest-growing in the United States.

More recently, the legalization of recreational marijuana sales in... Learn More

8. Medical & Recreational Marijuana Growing

2018-2019 Revenue Growth: 27.9%

The Medical and Recreational Marijuana Growing industry, which includes both employer and nonemployer establishments that grow marijuana for medical and recreational use, flourished over the five years to 2019. Watershed legalization victories over recent years, most notably during the 2016 election cycle, proved that the cannabis industry is one of the fastest growing industries in the US. In 2016 alone, eight states passed initiatives to legalize marijuana. Consumer attitudes are also accelerating legalization efforts at the state level. Gallup reports that an estimated 80.0% of US citizens approve of legal access to medical marijuana, while 60.0% approve of full adult... Learn More

9. Massage Franchises

2018-2019 Revenue Growth: 27.6%

The Massage Franchises industry includes franchised outlets that provide therapeutic and recreational massage services. The popularity of massage services has surged over the five years to 2018 as consumers increasingly spend on luxury goods. Furthermore, new research touts the health benefits of massages, benefiting the industry. The improving economic environment and increasing visibility of massage franchises are expected to encourage strong growth in the Massage Franchises industry during the period. While the majority of massage therapists are sole proprietors, the popularity of massage franchises has grown over the past decade. Franchisees benefit from efficient operating and support systems, along with... Learn More

10. Online Mortgage Brokers

2018-2019 Revenue Growth: 24.8%

Growth in the housing market and an increase in the percentage of services conducted online significantly boosted revenue for the Online Mortgage Brokers industry over the five years to 2019. Industry operators match consumers seeking mortgages with lenders on a fee basis or host mortgage marketplaces where mortgage lenders can access a network of potential borrowers. According to data from the Mortgage Bankers Association, the total value of mortgage originations is anticipated to fall during the five-year period. Refinance originations also declined precipitously during the period due to increases in the 30-year conventional mortgage rate. Nonetheless, a greater share of... Learn More