Your smart phone is incredibly powerful: it downloads music, streams movies and videos, takes pictures, browses internet news, and makes entire industries redundant.
Many companies and sectors of the economy are struggling right now but, while some will surely recover, others seem doomed to failure, replaced by whole new systems of production, sales and consumer use. Those factors apply to each of the industries on IBIS's recent list of Top Ten Dying Industries. Remember the video cassette and VCR industry in the early 2000s? Each of these industries seems set to join them in history's dustbin.
Of course, it's not the iPhone's fault alone. The companies listed have been on the decline for the past ten years, and are suffering from other ailments too, like stagnating markets and overseas competitions. Being single-function and analog are major strikes in an era of digital multitasking; not having an app is just one more nail in the coffin of irrelevance.
For that reason, we definitely don't recommend setting your heart on a career in any of the following industries:
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Related on Vault:
The 5 Fastest Declining Industries
The IBIS Top Ten Dying Industries list.