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What Are The Fastest Growing Businesses In The U.S.?

What Are The Fastest Growing Businesses In The U.S.?

Entrepreneurs are always thinking about the next venture, seizing opportunities and creating new businesses.


Keeping tabs on the fastest growing businesses in the United States is a strategy that can pay off in the end for many entrepreneurs. In fact, it’s essential to stay ahead of the competition, allowing you to better identify market trends, capitalize on opportunities and learn from success stories. 


Let’s dive into what the fastest growing businesses in the U.S. are and what you can do as an entrepreneur to grow your business


Fastest Growing Businesses In the U.S.



Each year, industry experts release annual lists of metrics like the fastest growing industries, fastest growing occupations and fastest growing companies. Lists such as these offer important industry insights and trend spotting. 


By examining these industries in which these businesses and professions operate, entrepreneurs and industry observers can identify emerging trends, innovation hotspots and areas of high-growth potential. This information can also guide strategic decision-making, product development and market entry strategies for those looking to capitalize on evolving market dynamics. 


For example, IBISWorld is an industry research company and recently released its list of fastest growing industries in the U.S. by revenue growth. Many businesses within these industries have seen exponential growth and are expected to experience even more growth through 2024.


Top 10 Fastest Growing Industries in the United States



2023-2024 Revenue Growth

Peer-to-Peer Lending Platforms


CBD Product Manufacturing


Investment Banking & Securities Intermediation


Subprime Auto Loans


3D Printing & Rapid Prototyping Services


Solar Power


International Airlines


Tour Operators


3D Printer Manufacturing


Unmanned Aerial Vehicle Manufacturing



Source: IBISWorld’s Fastest Growing Industries in the U.S. by Revenue Growth (%) in 2023, based on expert analysis and its database of more than 1,300 U.S. industries


How Your Business Can Benefit From Other Fast-Growing Companies



Even if your business may not be directly listed among the fastest growing industries, there are often indirect connections and opportunities that you can take advantage of to grow your own business. 


Understanding these connections and recognizing how your business can benefit from the demand in other industries is crucial for entrepreneurial success. 


For example, the CBD product manufacturing industry is expected to experience a 28% revenue growth over the next year, according to IBISWorld data. In general, market analysts expect the U.S. cannabis market in general to continue growing. The market was valued at $13.2 billion in 2022 and is expected to expand at a compound annual growth rate of 14.2% from 2023 to 2030.


While the waste transportation industry itself may not be growing as rapidly (though it has grown an average of 2.4% per year over the last five years), there are opportunities to grow your own business by aligning your services with the needs of businesses in the cannabis industry. For example, you could add a waste stream to your hazardous waste business that focuses on the proper disposal of products and waste derived from hemp or cannabis plants. 


Another example of how you can grow your business while partnering with these top performers involve solar power companies and their reliance on transportation services to deliver solar panels, equipment and components to installation sites. By tailoring your logistics services to meet the unique requirements of this supply chain, you can position yourself as a valuable partner.


If you’re looking for ways to grow your manufacturing company, one possibility would be collaborating with 3D printing companies to enhance their production processes. As many 3D printing services and manufacturing companies experience a steep trajectory in growth, you can help them optimize production of complex parts, which can improve overall manufacturing efficiency.


In other words, the success of these fastest growing businesses in the United States also opens the door to a new mindset within your own business. There are many potential connections and collaborations out there in rapidly growing sectors, and many of the companies within these excelling industries may already be looking for help from a business like yours. 


How To Ready Your Business For Growth



Whether your business is part of an industry experiencing substantial growth, or you have a business that can offer a valuable service to one of these growing companies, it’s important to take action so that you don’t miss out on opportunities … and possibly fall behind your competitors.


By investing in your business through marketing, you can position yourself for success in the years ahead. Yet as a business owner, you have a lot on your plate. An inbound marketing agency can help you grow your business in today’s competitive digital age. 


Using proven lead generation strategies, inbound marketing companies will harness the power of the web to drive targeted visitors to your website. Inbound marketing creates connections, allowing customers who need your products or services to come to you. This saves you valuable time and effort while getting results that the old methods of marketing (cold calling, newspaper ads, radio/TV ads) simply can’t achieve today.


Nearly 85% of buyers conduct online research before ever contacting a company, according to Hubspot. That means potential clients or partners are looking for your services. The most important thing is that they need to be able to find you in a sea of business listings on the web. 


By producing high-quality, optimized content that drives people to your website, a lead generation system will help you:


  • Attract the right prospects that need your services now
  • Convert visitors to your website into leads
  • Automate lead conversions and lead nurturing to convert leads into Sales Qualified Leads
  • Track analytics and periodically update your marketing plan based on the results you are seeing
  • Integrate sales and marketing to ensure everyone is on the same page in your business


In many cases, working with a marketing agency is more affordable for business owners than hiring a marketing team, as we break down in our article, How Much Does It Cost To Hire A Marketing Team?


That’s because an experienced marketing agency will include services like:


  • Website development and redesign
  • Graphic design work
  • SEO/keyword research
  • Market research
  • Mobile marketing integration
  • Content development
  • Targeted email creation
  • E-newsletters
  • Social media marketing
  • Paid advertising
  • Metrics and data analysis
  • Public relations


Whether your business is in an industry that is experiencing a boom or you’re among the fastest growing industries in the United States, identifying opportunities for collaboration and tremendous growth begins with ensuring your business is positioned to take advantage of these prospects. 


Even small businesses outside the list of fast-growing businesses can still benefit from leveraging the capabilities and innovations of the rapidly growing sectors, and putting your business in a position where it is ready to showcase the value of your services. 


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