Fast growth

Fast growth
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Launching a business can be incredibly challenging, but there are ways to prepare yourself for the tough road ahead. If you do your research and enter an industry with a high annual growth rate, your startup will have a better chance of succeeding.

To help you get started, here are eight industries that are currently ripe for growth.

Artificial intelligence

Artificial intelligence
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Artificial intelligence (AI) may have been the stuff of science fiction years ago, but today it's used in everything from voice-recognition programs to virtual assistants such as Siri and Cortana. Though it's not a new concept, it's continuing to boom in the current market. According to GoBankingRates, a Bank of America Merrill Lynch report stated that AI analytical research will be a $70 billion market by 2020 (up from $8.2 billion in 2013).

Virtual reality

Virtual reality
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The popularity of virtual reality (VR), which allows users to become immersed in a 3D digital world, is exploding. In fact, GoBankingRates reported that VR will be a $1 billion market by the end of 2016. Thanks to its variety of applications ranging from video games to health care, the industry will most likely continue to thrive.

Drones

Drones
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Unmanned aerial vehicles (UAVs), commonly called drones, are making quite a landing in the business world. ABI Research predicts that more than 90 million consumer UAVs will ship during 2025, with a compound annual growth rate of 30.4 percent. Moreover, research indicates that by 2025, consumer drone revenue may reach $4.6 billion. Learn more about the business applications of drones.

3D printing

3D printing
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This fast-paced industry has grown significantly in popularity and accessibility in recent years. With the right technical skills and equipment, just about anything can be 3D printed, from auto parts to kitchenware. GoBankingRates reported that the 3D printing industry was valued at $5.165 billion in 2015. Learn more about 3D printing's impact on the business world.

Fraud detection

Fraud detection
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Increased cyberattacks now mean fraud detection is in high demand. Businesses of all sizes (and even consumers) can benefit from a cybersecurity expert, so there's a ton of business-to-business potential for startups in this field. The industry is currently estimated to be worth $1 billion, and there was a 24.6 percent annual growth rate from 2011 to 2016, according to IBISWorld.

E-commerce

E-commerce
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Online shopping has progressed rapidly over the years. Thanks to sites like Amazon, eBay and Etsy, it's easier than ever for aspiring retailers to set up shop and sell their goods to a global customer base. IBISWorld reported that the e-commerce industry has an annual revenue of $295 billion.

Health care

Health care
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With all the changes happening in the health care industry, it makes sense that business opportunities are also growing quickly. Startups in the field are improving health care by offering services such as digital doctor's appointment booking, in-home care and mobile pharmacy ordering. The industry's annual revenue, as reported by Statistic Brain, is $1.668 trillion.

Education technology

Education technology
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Education technology, called edtech for short, is also booming. Innovators are working to make education affordable and available to everyone through videos, feedback platforms for educators and online courses. According to The Atlantic, the industry was worth more than $8 billion in 2015.

"All of these industries are moving toward technology, but health and education are the two major industries that touch everyone," said Susan Zheng, CEO and co-founder of talent platform Planted. "They'll have huge impacts on society as a whole."

Additional reporting by Shannon Gausepohl