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For the ambitious entrepreneur, there is an ever-growing list of exciting new sector opportunities to explore. Many of these, especially those with billion to trillion-dollar valuations, belong to growth industries, which are defined as sectors of the global economy that experience higher-than-average growth rate. These sectors host a high volume of new products and services that entice consumer demand, and many of them are often new or pioneer industries that were non-existent in the past decades.
From the rise of services and products enhanced by generative AI technologies to the attractive growth projections reported in sectors such as the Internet of