Most of them are stagnant. That's why breaking up incumbents under antitrust laws is a great idea. GenAI and some sectors of the entertainment industry are pretty robust, but otherwise it's not great out there broadly speaking.

One may amend that most mature industries tend to move to an apparent stagnant state as the Capex for r&d increases over time, sometimes due to regulation and/ or due to increased technical complexity. There is also a point at which you can't optimize certain aspects further and have to figure out where to pivot innovation, e.g. end of dennard scaling/Moores law.