Analyzing Actual Growth Compared to Forecasts
23 October 2023: Global Market Model, the largest database of market value forecasts in the world, announced today new insights into its industry growth report which provides the growth outlook of global markets by segmenting them into high growth, moderate growth and slow growth based on Compound Annual Growth Rates (CAGRs) for 2025-2034. Med from 1988, which clearly shows that Medical Equipment, Information Technology, and Services are among the fastest segments, growing significantly faster than world GDP, disrupting global economic trends.
The growth rates defined in this analysis are real growth rates, not inflation adjusted growth rates, which means, adjusted for the effect of inflation is not included to give a more realistic view of how the industries are moving in the forecast period.
Fast-Growing Industries Are Beating Global GDP, Growing at Over 5%
Medical Equipment (CAGR of 6.6%).
Minimally
invasive methods are at the forefront of the medical equipment industry. Rising
healthcare costs, the occurrence of more chronic illnesses, and an increased
need for home healthcare equipment and diagnostic instruments are all
contributing factors to this expansion.
Services (CAGR: 5.9%)
The
outsourcing of non-core corporate operations and continued urbanization are
major factors in the 5.9% growth of the services industry. The sector’s vital
role in assisting individuals and organizations in the changing global economy
is highlighted by the rising need for real estate and leasing services as well
as scalable commercial solutions.
Information Technology (5.8% CAGR)
The
predicted compound annual growth rate (CAGR) for information technology is
5.8%. Technologies like 5G, the Internet
of Things, and—most importantly—artificial intelligence (AI) are driving this
expansion. Through improved
decision-making, predictive analytics, and more intelligent automation, AI is
revolutionizing a number of industries.
Its use in manufacturing, healthcare, and finance is promoting
innovation and increasing efficiency.
Transport Services (5.4% CAGR)
At a 5.4%
CAGR, transport services are expanding rapidly.
The global air travel recovery, higher expenditures in logistics
infrastructure, and the rising demand for last-mile delivery services—fueled by
the e-commerce boom—are the main drivers of this.
Media (5.2% CAGR)
The growth of digital platforms, the increasing demand for
streaming services, and the development of immersive technologies like
augmented and virtual reality have all contributed to the media sector’s
success, which is growing at a 5.2% CAGR. The way people consume content is
changing as a result of these developments.
Veterinary Healthcare
(5% CAGR)
Growing pet ownership, increased knowledge of animal health,
and developments in veterinary diagnostics and medications are driving the
veterinary healthcare industry. With a
5% growth rate, this demonstrates the industry’s increasing significance in
both livestock management and companion animal care.
Financial Services (5% CAGR)
The growing usage of digital payment methods, higher
investments in alternative assets, and the increasing adoption of fintech
solutions are all helping the financial services industry. Contributing to a 5%
CAGR, these variables are expanding access to financial goods and changing
financial transactions globally.
