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Top 10 industries of the decade

Posted on: December 23, 2009

As another decade comes to an end, industry research firm IBISWorld identified the top 10 best performing industries based on accumulative revenue growth from 2000-2009. 

Here’s the list of winning industries in the past decade and their corresponding growth figures for the 10-year period:

  1. Voice Over Internet Protocol Providers (VoIP) – *See Note
  2. Search Engines – 1655.9%
  3. eCommerce & Online Auctions – 468.9%
  4. Online Dating & Matchmaking – 248.8%
  5. Tank & Armored Vehicle Manufacturing – 244.7%
  6. Petrochemical Manufacturing – 221.2%
  7. Mining Support – 186.7%
  8. Wireless Telecommunications Carriers – 183.4%
  9. Biotechnology – 182.1%
  10. Warehouse Clubs and Supercenters – 146.5%

“VoIP has skyrocketed from non-existent to a massive application targeting telecom carrier’s voice revenues,” explained George Van Horn, senior analyst with IBISWorld.  “Continuing cost advantages for service providers, improving service quality and the expected emergence of mobile VoIP during the next 10 years pave the way for VoIP to be the primary beneficiary of the next leg in telecom’s service development cycle.”

IBISWorld also added that over a 10-year time frame, the industries that outperform or underperform their peers are those that either benefit from competitive strategic advantages or worse, suffering from significant disadvantages.  While the performance of the economic recovery will dominate near-term industry performance measures, innovative products, competitive costs and improving efficiency will continue to separate the winners from the losers in the upcoming decade (2009-2019). 

Note:  VoIP is a new industry that only began to earn revenue in 2002.  In the short period to 2009, revenue growth accumulated to an astronomical 179035.8%.

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