When we look to America these days it’s largely with an eye on politics. Much of the world is experiencing a different kind of political environment, with more visible players, more polarizing issues, and more drama overall. And this is being exemplified by America under a President who speaks only to his own party, and who approaches the job as if it’s a reality television show.
As much as this political environment can overshadow everything else though, business innovation remains an interesting aspect of American society to keep an eye on, whether internally or from the outside. And thanks to changes in technology, trends in entertainment, and in some cases social and political progress, there are some businesses that appear to be on the cusp of potentially significant growth. These will be interesting to track, and possibly worthy of investment consideration in the coming years.
Legalized Cannabis
It may still be a taboo in certain circles, but legal cannabis use is arriving in the United States, and no matter how you may feel about it personally or politically, it is certain to amount to a major business opportunity for thousands if not millions of individuals. The market is only just beginning to emerge, but projections from this past spring suggested it could triple by 2025 to somewhere in the range of $25 billion. And some who understand the budding industry will tell you, that’s a conservative estimate. This is possibly the clearest of all big businesses on the horizon in America.
Clean Energy
Clean energy is a little bit more difficult to track because it doesn’t depend on a single type of legislation, one company, or even one type of product or service. One could lop in anything from Tesla’s home batteries and solar panels, to electric cars, to investments in offshore wind power. As a whole though, clean, renewable energy is becoming a significant area of financial growth and investment in the U.S. And with the country’s current presidential administration having turned its back on efforts to combat climate change, we should probably expect even more innovation from individual states and private companies. This makes it harder to track clean energy as one industry, but it may mean more opportunities to buy in.
eSports
Many predicted that eSports would be nothing but a fleeting fad, or at best a niche activity for avid gamers only. However, we’ve seen now that both in the U.S. and elsewhere, it’s becoming an explosive new industry, and one that many are describing as a new “sport.” This seems a strange label until you realize that large eSports tournaments tend to secure viewership to rival major sporting events. And the interesting thing from a business standpoint is that eSports is just getting started. Arenas are only now being set up in Las Vegas, and more will likely follow in other major cities. American professional sports franchises and leagues are also getting in on the action and funding their own eSports teams. This is an industry that’s already grown quite a bit, but it’s clear it has further to go.
Betting & Casinos
It seems a lot of people, particularly in America, misunderstand betting and casino businesses. They imagine them strictly as online versions of casinos, where you can spend money on a slot arcade or a sports bet and hope for a good result. In reality, these businesses have become more varied, immersive, and frankly appealing. On the gaming front, the choice to take a free spin or enjoy a free deposit bonus to try out games helps to rope people in, and the game selection then proves irresistible. In betting, there are hundreds more options than most people recognize from the outside. In short, there’s mass appeal. And with betting just now spreading across the U.S. and casino gaming potentially on its heels, this is certainly an area to watch.
Elder Care
This is perhaps the biggest business shift on the American horizon that is seldom discussed. Data indicates that the population of 80-plus individuals is projected to increase by 79 percent by the year 2030, as the so-called “Baby Boomer” generation reaches a senior age. This is going to happen in a country that is already somewhat known for inadequate elder care. This, in combination with the fact that healthcare has become the defining political issue of the 21st century in America so far, indicates that massive efforts are just around the corner to increase the amount and quality of elder care. The idea here is of course to provide a dignified and healthy service to aging individuals – but rest assured, it will come with business opportunities as well.
Also published on Medium.
