The business world always heavily depended on the latest fruits of the tech startup world to keep going. That puts the tech companies in a very favorable position since they find themselves as a driving force of the entire economy and their favorable market position is pretty much locked. What are promising tech business ideas?
Most Promising Tech Business Ideas
Things haven’t changed when digital tech took the torch of cutting-edge technology development. On the contrary – modern digital tech is more widely accessible and utilized than ever before.
However, such a lucrative market always invites heavy competition so it shouldn’t be that big of a surprise that as of 2018 tech startup industry also features the highest failure rate sitting at about 63%. Let us take a look then at some of the promising tech startup ideas that offer the biggest chance for success and an opportunity to overcome these considerable obstacles.
Big Data Analytics Services
If there is one technology area that shows virtually endless and inexhaustible potential. The world is rapidly steering into the online direction, and making sense of the rich pools of data produced by consumers on a daily basis will become one of the priorities of the modern business world.
What’s even important to note is that, while big data analytics was until recently reserved only for the big entities, these services are spreading across the corporate board and are now utilized even by small and medium business organizations. This trend will become more relevant as time goes by so there’s an opportunity for you.
The fact that we, as a society, have realized that education can be performed very efficiently even in the virtual environment has to be one of the very rare positive outcomes of COVID-19. If we take Australia as an example of a tech-developed country, we will find the recent research showcasing that the online students in this country got the better capacity to manage their time efficiently, better academic support, and, in the end, better learning outcomes. So, while the traditional schooling methods will never cease to exist, these benefits will stimulate the growth of online tutoring as an augment to the traditional system.
Don’t have any doubts about this one – these days, as many as 93% of all online experiences start with some of the popular search engines, most probably Google. Therefore, ranking a company high on the Google SERP should be one of the main priorities of every responsible business owner.
And if we once again go Down Under for an example we can see these claims are backed in real life. For instance, the local SEO in Sydney and other metropolitan areas is booming, providing businesses of all scales with top-tier optimization services. As long as people search for things on the web, this machine will need feeding.
The number of companies entering the business arena every year is constantly growing. Add to that equation various freelancers and influencers that also use websites and multiply it with maintenance, updates, tweaks, and new design solutions and you will see that web design is a well that will never truly dry out.
According to a recent survey, over the last five years, the web design market has seen a healthy growth of 6.6% and now scores revenue of $38 billion. These numbers are only expected to grow. If you utilize a bit of clever marketing and choose some sustainable niche, you can get a part of this cake too.
Augmented Reality (AR)
The idea of augmented and virtual reality is not entirely new and was present, at least conceptually ever since the 80s. These days, though, the technology is finally catching up to the promises made by this idea and it didn’t take too long before we realized just useful AR can be in real life.
As of recently, augmented reality is a technology transforming manufacturing and has been utilized in retail stores, construction sites, entertainment, and countless other business sectors. AR isn’t only novel and easy to navigate but also offers unlimited interaction and collaboration potential. Expect to see even stronger adoption rates down the road.
Services in Cloud Computing
The modern business world is slowly getting rid of traditional infrastructure and trying to rebuild itself in a leaner, faster, more scalable, and efficient Cloud environment. Cloud computing also presents the foundation for any kind of modern collaboration, VR and AR interaction, document storage, and sharing, and pretty much all things happening online.
So, just like the tech world benefits from the rest of the business arena, the cloud computing industry benefits from the development of all facets of the tech world. That is why starting out in cloud development, services, and maintenance sounds like a very good idea.
Last but not least, we would like to quickly cover podcasting that, as a career option, has the benefit of asking a very low entrance fee and offering rock-solid earnings down the road if you manage to build a sustainable follower base. To prove this point, we would to remind you about the recent research saying that 51% of the US population has listened to a podcast in some shape or form.
And if you start podcasting in the English language you can also count on a very healthy international following. So, it all boils down to your talent and a will to push forward. The potential for substantial earning is definitely on the table.
Tech Business Ideas
We hope these few examples gave you a general outlook about the current state of the tech industry and showcased some of the most lucrative career options you have at your disposal. Keeping in mind that digital technology is evolving at a lightning pace, the opportunities for starting your own gig will always be out there. However, some options will definitely give you a better chance for long-term success. These few mentions are only the tip of the iceberg but they should give you something to think about.