With the stock market relentlessly trending up, investors might find value in specific industries. Savvy investors can find great bargains in subsets of stock market sectors that are poised to grow. By choosing industries with a probability of growth in 2020, investors might be able to mitigate the impact of a stock market decline.While past performance is useful, it's not a perfect indicator of where markets will trend tomorrow. But as momentum investing has shown, specific industries may continue forward. Utilities, real estate and consumer staples performed strongly in recent months. A recent Fidelity report found these sectors, plus health care were positioned for continuing expansion. Here are few favored industries to consider for 2020 when thinking about stock or fund investments: Biotech.Marijuana.Artificial intelligence.Oil and gas exploration.Real estate investment trusts.BiotechKevin Mahn, president and chief investment officer of Hennion and Walsh in New Jersey, favors biotech for 2020."Biotech companies are at the forefront of the evolution taking place in the health care industry and as a result, large pharmaceutical companies are increasingly looking for acquisitions," Mahn says. The recent announcement of Novartis' (ticker: NVS) plans to buy The Medicines Company, illustrates big pharma's appetite for revenue growth. Innovative health care buys are a way for legacy pharmaceutical firms to expand. Specifically, smaller health care firms with drugs nearing market could interest the big pharmaceutical firms.Investors looking for health care and biotech sector ETFs might consider iShares Nasdaq Biotechnology ETF (IBB) or SPDR S&P Biotech ETF (XBI).Marijuana Not surprisingly, cannabidiol, commonly referred to as CBD, a compound found in hemp plants, emerged as a growing trend for 2020. Zak Garcia, chief marketing officer at CBD Capital Group says that with hemp-derived CBD products legal in all 50 states, the market is growing at 132%. According to a Brightfield Group report, the total market is projected to reach $22 billion by 2022.While knowing that an industry may outperform is one thing, another is determining how to invest. With the burgeoning marijuana industries, several ETFs capture the space such as ETFMG Alternative Harvest ETF (MJ) or The Cannabis ETF (THCX). While the Cambria Cannabis ETF (TOKE) has a low expense ratio of 0.42%.Artificial Intelligence Another investment pick for 2020 is technology, with artificial intelligence. Greg Hahn, president and chief investment officer at Winthrop Capital Management in Indiana expects technology growth drivers in cloud and 5G. With technology continuing to innovate, there's little reason to expect growth to pause soon.Investors seeking technology micro-trends, might want to delve into artificial intelligence or other corners of the tech sector for more targeted picks says Alan Grujic, founder and CEO of All of Us."The growing AI tech war between the U.S. and China is a major medium-term trend that will continue to lend support to both AI and big data-focused companies," Grujic says.Oil and Gas ExplorationInsider buying is an indicator of value within investing. After all, those closest to an industry typically have the best view of expected growth potential.Steven Jon Kaplan, CEO of True Contrarian in New Jersey says that lower-valued energy company shares are experiencing a rebound that is expected to continue into 2020."Insiders have been extremely heavy buyers during the past half year and especially during the past two months in companies like Matador Resources (MTDR) and many others. The total buying by top executives of energy companies in recent weeks exceeds almost any other sector going back to the end of the 2007-2009 recession," Kaplan says.These beaten-down energy ETFs might be poised for a 2020 rebound: Matador Resources Co. and SPDR S&P Oil & Gas Equipment & Services ETF (XES). Real Estate Investment TrustsIt's difficult not to like the real estate sector, with interest rates at historic lows. Depressed financing costs are driving a boom in the real estate sector. Public real estate investment trusts, or REITs, are easy to access through a variety of exchange-traded funds and mutual funds. Chris Burbach, co-founder and a partner at Fundamental Income in Phoenix, recommends net-lease REITs, with higher dividend yields than typical REITs and excellent growth.Burbach prefers net-lease REITs, or those leased to single tenants, who pay both the rent and property expenses, which offer better fundamental values of approximately 18 times equity cash flow and dividend yields of 4.9%. Net-lease REITs also expect cash flow growth through rent increases. Global Net Lease (GNL) REIT is a global firm with net lease industrial and office properties and a current 10.4% yield.Active investors looking for ways to best market returns will need to work a bit harder next year. With the SPDR S&P 500 ETF Trust (SPY) one of the most popular S&P 500 ETFs, up over 27% this year in long-running bull market. If you're willing to take on more risk, adding several sector funds to a diversified portfolio might give your 2020 investments an advantage. Just be aware: Since sector investing is concentrated, if a pick doesn't pan out, the fund will disappoint.