10 Fastest Dying industries | Worst Business Ideas

Get Ready to explore what business models, now become dying industries so that you can adapt your business ideas accordingly.

It’s time to wake up. Straight off the bat and hard-hitting information, that can potentially change the course of your life. And change the course of your destiny for whatever it may be.

So the first thing is that  no matter what you have studied in the past, maybe whatever industry background that you’re coming from, if you have a fluid mindset if you have a fluid way of thinking that, “If my industry is not good, I’m ready for a change.”

And if you start you know, acquiring the skills in that, there’s a high chance that five years, 10 years, 15 years down the line, you’re gonna be more valuable in the market place and you are gonna be creating a better income for yourself.

Let’s first understand some hard-hitting facts here. There are three hard-hitting facts that you need to know.

  • Number one, according to Forbes, 75% of companies are gonna disappear in the next five years out of which 50% of them are not yet born.
  • The second hard-hitting fact is over two billion jobs are gonna disappear by the year 2030 with all the changes that are happening.  Especially industries like the power industry, coal industry, transportation industry, line repairment, all of that is gonna get obsolete.
  • And number three is 85% of jobs that will exist in the year 2030 haven’t been invented yet.  That means the school and education system, they have not yet started to create that kind of curriculum to soothe the job for 2030.

So, What are the Top 10 dying industries?


1. Videotape and disc industry

The first dying industry is the videotape and disc rental industry. Okay, this is already dead for most that we know, like with Netflix and stuff that’s coming on.  It’s a goner industry.

DVD and tape the goner industry

 

2. Libraries and Archives

You know, actual libraries going there.  That’s dying, people have everything in their Kindle, and in their palm, so government libraries aren’t going to be used as much as how it use to be used. That’s the sad truth of the world.

Library and archives - the goner industry

 

3. Directories and mailing list publishers

This also is a dying industry right now. I’m talking about offline here, all that is gone. These are being rapidly replaced by electronic mails.

mailbox- The goner industry

 

4. Photofinishing Industry

This one is on the verge of extinction, because today you have everything, you know, in your palm right now.  You can actually do all the editing, photofinishing, you have high-resolution cameras in your fingertips now.  So, this is one industry that’s going down.

4. Photofinishing Industry - the goner industry

 

5. Newspaper publishers

Everyone is either interested in videos or no newspapers at all. So, this is a goner industry. In fact, in the NewYork Times also, their subscription base has been dropping drastically.  This is why now they are coming up with an app-based model, a subscription-based model where at least they get $1 per day, $1 per month kind of a thing for getting some kind of revenue through a newspaper.

That industry is goner, five years down the line it’s gonna go down in a much, much more drastic way.

Newspaper publisher- the goner industry

 

6. Telephone apparatus manufacturing

One of the days were the old telephone days.  Even now if you look at it, it’s all mobile manufacturing which is moving down the old telephones. Some apparatus is still around, but it’s like nearly dead right now.

Telephone apparatus manufacturing- the goner industry


 

7. Music Industry.

I studied sound engineering and this industry is going down. I am talking about sound recording studios. People have their own studios at their home, with the development of the easily available, high-quality sound recording instruments. So, this is another industry that’s going down and going down really fast.

Music industry - The goner industry

 

8. Book stores and News dealers.

This is also going down because everything is digitized. And we have found a more interactive way of reading through photos and videos that are easily reachable to us through smartphones and computers. In fact, the rapid growth of online classes is also trying to make these things obsolete faster.

8. Book stores and News dealers. - the goner industry

 

9. Stationery Product Manufacturing Companies.

Is Stationery Industry comes under dying industries?

Okay, this is again worldwide statistics, worldwide data. And this is related to the number 8 when everything is being digitized, stationery products will lose its existence. So do the related companies will be in trouble over the next few years.

Stationery- the goner industry

 

10. Textile and Fabric Finishing Mills

So, mills also are going through its churn and many of these top industries like power industries,  coal industries, transportation industries. They’re all getting powered with artificial intelligence and many other ways like 3D printing.

textile 3751276 640 10 Fastest Dying industries | Worst Business Ideas

Also Read: Top 10 IT Jobs in the World that will Pay you HIGH Salary

Conclusion

Considering the above examples, these are the top 10 dying industries. And I hope you found this useful because by you being aware that, these are the things going down, you can start to make some shifts in your careers.

So, you should be aware of the futuristic industries as well to decide which areas you should focus on and explore yourself to get going in the time race.

Suraj

I am a civil engineer, mainly focused on writing realistic and logistic facts with some literature icing on it.

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