Industries with the Highest Growth in Employment in the US in 2023

1. Hybrid & Electric Vehicle Manufacturing in the US

Employment Growth for 2023: 22.8%

The Hybrid and Electric Vehicle Manufacturing industry has boomed as the use of renewable energy sources surged in popularity. Hybrid electric vehicles (HEV) and electric vehicles (EV), including plug-in electric vehicles (PEV) and plug-in hybrid electric vehicles (PHEV), have seen a dramatic rise in sales amid elevated oil and gas prices. With concerns about the environment, new entrants continue to flood in looking to establish market share. New government incentives and infrastructure funding have increased the accessibility of electric and hybrid vehicles domestically. Industry-wide revenue has increased at an annualized 29.6% to $88.8 billion over the past five years, including... Learn More

2. 3D Printing & Rapid Prototyping Services in the US

Employment Growth for 2023: 21.7%

The industry has grown over the past five years, driven by rapid technological development and new applications for 3D printing technology. While the falling price of 3D printing machines encouraged many companies to purchase their own machines and bypass outsourced services, demand has flourished. Additionally, as development and design services could be done remotely, the industry was one of the few which could continue operations unabated during the height of COVID-19 in 2020, resulting in 7.0% revenue growth in that year. Over the past five years, 3D printing and prototyping revenue has climbed at a CAGR of 17.2% to $3.6... Learn More

3. Solar Power in the US

Employment Growth for 2023: 20.6%

The Solar Power industry owns and operates solar power-generating facilities in the form of either photovoltaic (PV) panels or solar thermal power stations. Solar power companies have gone through significant growth, propelled by improvements in the technologies used for electricity generation and government incentives, like the renewable portfolio standard (RPS) targets. RPS legislation requires local utility companies to diversify their portfolio and generate percentages of their energy production through renewable resources. Increases in public support for green energy led to tax incentives and grants to encourage investment in solar power. This has resulted in more companies powering facilities with solar... Learn More

4. Massage Franchises in the US

Employment Growth for 2023: 20.4%

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 2021 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

5. Crowdsourcing Service Providers in the US

Employment Growth for 2023: 20.3%

Since its emergence in the early 2000s, the Crowdsourcing Service Providers industry has experienced explosive growth, rising by more than 20.0% every year since 2005. The growing prevalence of online services has largely driven industry growth, because workers can more easily complete tasks from remote locations. The number of mobile internet connections has increased at an annualized rate of 14.0% over the five years to 2017, while the percentage of services conducted online has increased 13.4% during the period. Additionally, as the industry has continued to grow and mature, businesses have increasingly accepted crowdsourcing as a feasible alternative to hiring... Learn More

6. 3D Printer Manufacturing in the US

Employment Growth for 2023: 18.3%

The 3D printer manufacturing industry has seen significant growth over the past five years, increasing at a CAGR of 14.6% to $7.7 billion, which includes 19.1% growth in 2023 alone. As prices for 3D printers declined, additive manufacturing has become more attractive to both businesses and consumers. The outbreak of COVID-19, which led to massive supply disruptions, has led the public and the government to consider new applications of 3D printing. The Additive Manufacturing (AM) Forward program, launched by the Biden Administration in 2022, focuses on advancing the development and adoption of 3D printing technologies in the US.

Additive manufacturing has... Learn More

7. Peer-to-Peer Lending Platforms in the US

Employment Growth for 2023: 18.2%

Peer-to-peer (P2P) lenders' revenue has been dropping at an annualized 0.2% over the past five years, including an estimated 25.3% increase in the current year, and is expected to total $1.5 billion in 2023, with profit set to reach negative 0.4%. 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. The industry's competitive advantage lies in its proprietary credit evaluation algorithms, which go beyond FICO credit scores used by traditional lending institutions.

Companies in the industry have... Learn More

8. Social Networking Sites in the US

Employment Growth for 2023: 18.1%

Since going mainstream over a decade ago, hundreds of millions of Americans have embraced social networking sites, including Meta, Twitter, LinkedIn and dozens more. People use these networks to maintain relationships with friends, follow the news and share photos and videos. By leveraging user data for targeted advertisements, where most revenue is derived, sites have been able to capitalize on the popularity of their platforms. As a result, industry revenue has increased at a CAGR of 16.7% over the past five years, including an increase of 15.0% to total an estimated $95.2 billion in 2023 alone. The industry has benefited... Learn More

9. Ride-Sharing Services in the US

Employment Growth for 2023: 18.0%

Ride-sharing services offer transportation services through mobile apps, where the customer can request a private ride from wherever they are, within reason. Two major players dominate the Ride-Sharing Services industry, with very little competition elsewhere. Uber and Lyft debuted in the early 2010s but showed significant growth in the last decade, growing in presence and popularity simultaneously.

This industry's primary revenue drivers are trips taken within the US and consumer spending levels. Trips to and from airports are done by public transportation, taxis, or ride-sharing services. Throughout the life of this young industry, ride-sharing services have become preferred due to... Learn More

10. International Airlines in the US

Employment Growth for 2023: 17.7%

Demand for the International Airlines industry has experienced significant volatility over the past five years. During the beginning of the current period, mounting competition from foreign competitors and chronic overcapacity within the industry's cargo transportation segment forced industry operators to slash ticket prices and reduce freight shipping rates, causing industry revenue to decline. Unprecedented disruption from the COVID-19 (coronavirus) pandemic generated the most substantial revenue decline in industry history. As global economies and health recover, pent-up consumer demand is anticipated to drive industry recovery toward the end of the period. Overall, industry revenue has decreased at a CAGR of 0.5%... Learn More