Three Tech Industries Set to Take Off in 2024

Colin’s note: 2023 was a stunning year for tech…

The Nasdaq climbed about 43% – one of its best years of the last two decades. Much of that was thanks to the rise of artificial intelligence and the pioneers in that industry.

And while we’ve never been shy about our excitement about AI and how it will impact every facet of our society… it’s not the only industry we’ve had our eye on lately.

Next week, I’ll be attending one of the largest tech conferences in the world – the Consumer Electronics Show – where tech leaders and enthusiasts alike will gather to see the biggest trends and gadgets for 2024 revealed.

And in today’s video, ahead of what we’ll learn at CES this year, I’m sharing three tech industries that should be on your radar right now… because they’re primed to take off in the year ahead and beyond.

You can watch it by clicking below… Or, if you prefer to read, my team and I have provided an edited transcript for you.

All next week I’ll be at the Consumer Electronics Show in Las Vegas, Nevada…

If you didn’t already know… CES is one of the largest tech conferences in the world with an estimated attendance of more than 130,000.

Every year, CES brings together some of the biggest names in tech for announcements and unveilings of all the hottest trends.

I’ll be sure to publish a video next week with all the cool gadgets and electronics revealed at this year’s conference that you might find useful at home or work.

But that’s not the biggest reason why I’m going.

While the most attention-grabbing tech will be centered around consumer gadgets or self-driving cars… there are other industries that I believe are set to break out in 2024.

And if these industries take off like I think they will, it will have a profound impact on investors who get in front of them.

The first industry I’m looking forward to showing you more about is robotics.

Now, I know robotics is nothing new. Many manufacturing industries rely heavily on robotic factories. There are several consumer-facing robot products on the market today.

Companies like Tesla and Boston Dynamics often grab headlines with their humanlike robot demonstrations.

But I’m expecting to see an acceleration in robotic capabilities at this year’s show.

We’re talking about moving away from the robot vacuum cleaners to far more advanced robots that will help reduce costs and increase profits at high-profile companies.

I’m particularly looking forward to Walmart’s Keynote on Tuesday, January 9, as the retail giant has invested in robotic technology for its fulfillment centers.

From an investment standpoint, it doesn’t get much better than taking a low-margin retail business and layering on robotics to squeeze fresh profit margins.

Amazon has been making investments in this space for a long time and it’s one of the many reasons I believe Amazon’s best days are coming.

There are also several presentations related to food technology and automation. It seems like every time I take my boys out to eat, the bill only seems to get higher and higher.

I fully expect to see more automation in these environments. And that will have a profound impact on stocks that rely on human labor.

I know what some of you are thinking… Robots and automation can take jobs away from hard-working people.

I hear you… But the truth is, the American dream isn’t flipping burgers or packing boxes at Amazon.

And the bottom line is if our Happy Meals and Amazon packages cost less, it leaves more money in our pocket to spend in other areas of the economy that can absorb some of the labor that is guaranteed to vanish thanks to robotic automation.

This next industry is a real sleeper. I don’t see many people talking about it… But it’s a massive opportunity over the next several years.

And that industry is Agriculture Technology… or AgTech.

I live in the Central Valley of California, home to one of the biggest and most prosperous agricultural regions in the world.

So I know firsthand how important – and profitable – this industry can be.

But disruption is common in the region due to drought conditions, mother nature, or even simply mismanagement of water resources.

That’s opening the door for new techniques and technology to help solve some of these challenges.

One particularly interesting trend is indoor vertical farming.

Large warehouses are growing crops from floor to ceiling using innovative techniques and technology.

These techniques are being used to grow crops in areas of the world where it wasn’t possible before.

If farming can be brought to the big city or the remote corners of the world… we’re talking about a major shift in an industry as old as time.

And anytime you have a major shift… major money can be made. I’ll be sure to keep you updated on what I learn about this exciting trend.

The last industry I’m going to keep a close eye on is one you’ve likely heard of before.

And if you’ve been investing for several years, you may have gotten burned buying into some of these stocks when they went public.

And in many ways, that’s why I’m particularly excited about 3D printing.

At one time, 3D printing stocks were some of the hottest investments on Wall Street. But similar to marijuana stocks, they completely fell out of favor when the hype wasn’t met with sales growth and profits.

I believe the industry is about to move from a hobby to a major manufacturing tool used by the world’s largest product companies.

Onshoring and reshoring manufacturing away from China is the biggest reason this once-exciting industry can be reborn again in 2024.

And the fact that many of these stocks have fallen out of favor with investors means there’s a huge investment opportunity ahead if more manufacturers adopt 3D printing in the future.

I’ll be sure to keep you updated on all these trends and more next week. And yes, I’ll make sure I show you all the cool gadgets that are more fun than they are good investment opportunities.

And as always, if you have any questions or comments please reach out at feedback@brownstoneresearch.com. I read everything you send me. I’ll even have a question-and-answer video coming soon. Until then, my name is Colin Tedards, and this was today’s Bleeding Edge.

I hope you all have a fun and safe weekend.