This is all personal opinion so take it with a grain of salt.
I think Rust could do some serious C++ competition if it could dethrone C++ from some platform or have a worthy alternative.
That is I think Rust really needs a killer app/platform/problem similar to how Swift has Apple devices and DevOps now have Go.
If Rust could get into a gaming platform or have a really good gaming library like Unity it could have a good starting point to move over mind share.
Alternatively I think Rust could compete heavily with Go since the whole microservices space is still sort of up for grabs (or atleast is so massive that there is plenty of pie to be had).
Rust's current niche (ie users) is language aficionados which historically hasn't been a good niche (ie Haskell) for language propagation. That is I think Rust could get more popular if it can get heavily used by a set of niche users at first.
Besides mircoservices and games an interesting niche might be Arduino and IOT [1]. That might be a good niche/platform to dethrone C++.
[1]: http://jakegoulding.com/blog/2016/01/02/rust-on-an-arduino-u...