Investing
VoIP And Biotech The Industries Of The Future
December 23, 2009 6:23 am
Last Updated: March 19, 2020 11:46 am
Two industries expected to post remarkably rapid growth over the next decade are VoIP and biotech. Cable companies and voice providers including Skype and Vonage (NYSE:VG) are expected to damage revenue from the landline businesses of larger rivals including AT&T (NYSE:T) and Verizon (NYSE:VZ).
New research from IBISWorld predicts that accumulative revenue growth from 2010 to 2019 will be 150% while landline revenue will shrink 52%.
Biotech has been one of the hottest industries for several years now as engineered health treatments replace traditional pharmaceuticals, one of the major reasons that companies like Pfizer (NYSE:PFE) have shed employees.
Other growth industries during the next decade will include e-commerce and auction sites, a good sign for Amazon (NASDAQ:AMZN) and Ebay (NYSE:EBAY) and video games, which should help Nintendo, Sony (NYSE:SNE) and Microsoft (NASDAQ:MSFT).
Douglas A. McIntyre
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