Industries with the Highest Growth in Employment in the US in 2024

1. Online Gambling Services in the US

Employment Growth for 2024: 32.8%

Online gambling services in the US are hosted on internet platforms which enable consumers to wager on events such as digital table games or other sporting events, like horse racing. This relatively small but robust industry has sought to capture more consumer demand for gambling services by branching out into hosting online platforms. Other players in the sports betting segment are newer, online-based endeavors, such as DraftKings, which entered the industry in 2018. In 2020, despite the outbreak of COVID-19, the industry experienced booming growth, though rising operating costs hindered profit. Demand rose as leisure time and disposable income both... Learn More

2. Social Networking Sites in the US

Employment Growth for 2024: 29.0%

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

3. Major Smart Appliance Manufacturing in the US

Employment Growth for 2024: 24.4%

Major smart appliance manufacturers build smart household cooking appliances, refrigerators and laundry equipment. Revenue for the industry has surged during the current period because major smart appliances have become less expensive and more accessible to consumers, enabling manufacturers to sell to most households for the first time. Rising incomes during much of the current period also benefited the industry, as more money enabled consumers to purchase luxuries, such as major smart appliances. High input prices provided new revenue streams for manufacturers during the recovery from COVID-19, as companies passed on high costs to consumers. Interest rates have soared in recent... Learn More

4. Kombucha Production in the US

Employment Growth for 2024: 22.6%

The industry is currently experiencing remarkable growth and success. With increasing consumer awareness and demand for healthier beverage alternatives, kombucha has emerged as a popular choice for health-conscious individuals. The industry has witnessed significant market expansion, with a wide range of flavors and varieties now available to consumers. Kombucha producers have tapped into consumer preferences by experimenting with different fruits, herbs, spices and unique ingredients, creating a diverse and appealing product portfolio. Overall, industry revenue has increased at a CAGR of 5.7% to $1.3 billion while entering 2023, including an increase of 0.8% in 2023 alone.

This growth can be attributed... Learn More

5. Solar Power in the US

Employment Growth for 2024: 22.2%

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

6. 3D Printing & Rapid Prototyping Services in the US

Employment Growth for 2024: 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

7. Hybrid & Electric Vehicle Manufacturing in the US

Employment Growth for 2024: 21.1%

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

8. Industrial Hemp Production in the US

Employment Growth for 2024: 19.8%

As a nearly brand-new industry, the Industrial Hemp Production industry is currently in a period of explosive growth. Industrial hemp, which has become synonymous with the name hemp, is a variety of cannabis with only trace amounts of tetrahydrocannabinol (THC). With few exceptions, until 2018, hemp production was illegal in the US. However, the 2018 Farm Bill legalized hemp growing on the grounds that the hemp grown have a THC content of less than 0.3% by weight. Upon legalization, the Industrial Hemp Production industry boomed as companies rapidly entered the industry to take advantage of the high demand for hemp-based... Learn More

9. Massage Franchises in the US

Employment Growth for 2024: 19.5%

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

10. Medical & Recreational Marijuana Growing in the US

Employment Growth for 2024: 16.8%

The industry, which includes establishments that grow marijuana for medical and recreational use, flourished over the five years to 2023. Legislative victories over recent years, proved that the cannabis industry is one of the fastest growing industries in the US. 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 use legalization. The growing acceptance of medical marijuana is providing growers and investors with unprecedented opportunities. As a result, industry revenue increased at a CAGR of 30.5%... Learn More