Many are not aware that South America is one of the fastest growing regions in the world in terms of economics and specialist positions. Every year, new businesses and factories are being formed with the hope to bring new products and services to the South American region and regions around the world through exporting goods. With this said, it would be wise to enter into one of these growing industries as a specialist in order to reap the rewards of the growing industry. Here are just some of the industries that are expected to expand in the next 15 years in such a way that entering into them may be the best decision of your entire career.
Since 2008, Latin American, specifically Mexico, has been the fastest growing market for the pharmaceutical industry. According to Latin Trade, one of the premier sources for information regarding emerging Latin American market trends, the continuing growth of this industry is because of the increase in both age and wealth of average Latin Americans. Age and wealth generally increase the number of times individuals visit the pharmacy and purchases medication. This combined with lax intellectual property laws in countries such Argentina makes the region a great place for both newcomers and veteran corporations to make money. All of these reasons combined make for a landscape that will certainly continue to grow in the next 15 years and is, therefore, an excellent industry for new specialists.
If you are looking more for a specialist position in an engineering/technological field, you are in luck. The wearable sensor industry grew 40% between 2014 and 2020 in Latin America. This is simply due to the fact that more smartwatch-esque devices are being produced and purchased by a massive number of tech-lovers all over the world. Whether it be a heart-beat sensor for an activity bank or a sensor to detect movement of the wrist, these types of devices have dozens of sensors. Of course, someone needs to design and manufacturer these sensors for the smartwatch and workout device manufacturers, and, because of the relatively low-cost of manufacturing products in countries like Mexico and Argentina, many manufacturers are turning to South America. So, if you have any aspiration to become an electrical engineer or a similar type of engineer, you may find luck in South America in the next 15 years.
Personal Healthcare Devices
The combination of healthcare becoming more personal and the rise of chronic diseases in the South American world is driving consumers to purchase healthcare devices for home-use. The past several years have seen a rise in the purchasing of products like blood pressure monitors, wheelchairs, CPAP devices, IV equipment, insulin pumps, ventilators and more. In addition, the industry is slated to increase 8.7% over in the period between 2014 and 2020. This increase will most likely not stop either and will expand within the next 15 years. In short, healthcare technologies will most likely be a great field to specialize in within the coming years.
Today, brick-and-mortar shops are sprinting to try and catch up to the monumental gains that the e-commerce industry has made over the past decade. According to estimates, e-commerce revenues are expected to reach around $31 billion per year by 2020. It must also be noted that there is a no-sign of the e-commerce train ever stopping. More and more individuals are choosing to purchase products online rather from a physical store-front due to the ease of having whatever you want delivered right to your home. This bodes well for those who wish to specialize in the e-commerce niche of the business world or IT professionals who wish to specialize in e-commerce innovations and technologies. So, this industry would be a great choice to become a specialist in within the near future.
Readers should keep in mind that these are only some of the industries it would be wise to become a specialist in within the next 15 years. Markets are incredibly unpredictable at times, and a new industry could enter the scene and becoming another great option to specialize in. Due to this, it is highly recommended that any aspiring specialist watch market trends closely, no matter your age.
written by Howland Holland on Sept 19th 2017
image from Sergio Cavalcanti on unsplash.com