Top 20 Industries in the World in 2024
Global Industrial Market
In 2024, the global industrial market is set to face both opportunities and challenges across various industries. In the US, the industrial sector is expected to receive significant legislative support. Thanks to the Inflation Reduction Act (IRA), investments in semiconductor manufacturing and clean technologies have nearly tripled since 2021. This surge has led to over 75,000 new jobs, $88 billion in investments, and around 200 new clean technology manufacturing sites. By July 2023, the sector’s annual construction spending reached $201 billion, a 70% increase from the previous year, indicating a promising outlook for 2024.
Semiconductor Dominance
Semiconductor industry is at the top of our list of the world's top 20 industries in 2024. Last year, the global semiconductor industry raked in a whopping $264 billion in sales, making up a significant chunk of the global economy.
In fact, semiconductor sales have accounted for over 0.50% of global GDP in recent years. They're a huge export for several countries, with the United States alone exporting $52.7 billion worth in 2023.
Looking ahead, the global semiconductor market is set to skyrocket to $1 trillion by 2030, up from $600 billion in 2021. To give you an idea of their impact, in 2022, the average car had over $500 worth of semiconductors, adding up to over $60 billion for the automotive industry that year.
This industry boom has been driven by the soaring market caps of top semiconductor companies like Nvidia, Intel, Samsung, and Qualcomm. These giants have played a crucial role in pushing the semiconductor sector to new heights.
Social Media and Content
Internet Content & Information companies are essential to the global economy, providing platforms for sharing information, communication, and digital services.
Alphabet Inc., a leading company in this sector, directly employs over 185,000 people and boasts a market capitalization of $1.5 trillion and annual revenues of $282 billion in 2023. Meta Platforms Inc. is also a major player, with a market cap of $750 billion and revenues of $118 billion in 2023.
These companies not only drive innovation but also create millions of jobs in the digital economy, including roles for app developers, digital marketers, and content creators.
This impressive lineup not only underscores the importance of innovation and growth across different fields but also highlights the interconnectedness of our global economic landscape.