The best paying gigs often require a highly specialized field of expertise in a robust growth industry. A high skill level requirement often reduces the number of direct competitors. The high level of robust growth means lots of job opportunities. Thus through supply and demand (remember economics 101 and the laws of the invisible hand by Adam Smith?) these factors work together to create an outstanding future until the number of high level professionals grows to meet demand, or the market growth slows down significantly, to a level that allows professional support to keep up. If your new in the computer field and at the beginning a new freelance gig career these to not only look good today, but the long tern position of these industries look to be longer than most carriers last.
#1 Online Freelance Gig Market: Cloud Services
This is a very large industry with thousands of parts to it. It has seen robust growth even though it is already a gigantic industry. Almost every company is moving to cloud based applications. Some of the biggest tech companies in the world are hitting the gas (or juice for you Tesla drivers), pushing this market from the likes of companies such as Amazon’s AWS, Microsoft’s Accenture Division, the Google Cloud, to IBM and their purchase of Redhat. This requires a skill set that can’t be easily learned but can be performed on you home computer. This industry is integrating massive hardware– provided by some of the world’s biggest companies– with thousands of apps/plugins being used by both the largest online businesses to the smallest niche cell phone apps.
The worldwide cloud services market is projected to grow 17.5% in 2019 or about 8 times faster than the US economy; from $182 billion to $214 billion in just one year, according to Gartner. That will make it about the size of Greece or New Zealand’s entire economy– adding the equivalent of Iceland’s GDP each and every year. If Adam Smith is right there will be plenty of incredibly high paying freelance niche gigs in this market.
#2 Online Freelance Gig Market: Blockchain Technologies
Even though this is a newer and significantly smaller market than the Cloud, blockchain is about a lot more than cryptocurrencies. This market could engulf what was considered tradition transaction accounting in almost every industry. Blockchains maintain a complete and detailed record of every public transaction. They are not just business-to-business (B2B) either: even though high tech firms are the early adopters, these technologies will affect almost all accounting eventually. Whoever thought Napster-– the first peer-to-peer network I ever heard of, would migrate and eventually warping into a massive robust legal growth industry? With this tech affecting so many markets, there is plenty of room to grow, creating the need for a freelance online gig in almost every vertical industry. So, those in this field should expect high pay for years.
Blockchain is forecast to have a tremendous future, having a whopping 69.4% compound growth through 2025, according to Grand View Research. That is basically a doubling in size (and demand) every year. Now if you could get a firm gig foothold and acquire superior knowledge in this industry, your freelance business should double almost every year if you just hold your market share. This is one of the most explosive growths we have seen in years, and it is over 30 times faster than the US economy.
Here are two industries where if you can establish a gig service our guess is you will be ahead of almost all your friends, and maybe so far ahead that they could never catch up.