It seems that digitalization and automation have impacted every aspect of our lives. With the world demanding a more virtual way of doing casual things, we’ve seen many companies adapt to this new reality. Some of them still struggle to survive, while others have embraced the latest technologies and made a significant profit in particular niches.
From telemedicine to EdTech-related startups, the previous year’s fastest growing industries are likely to continue thriving throughout 2021. So, if you are ready to develop the next disruptive solution but need some direction, you can find plenty of opportunities in a few of the following top industries. Read on to find out which of them are suitable for your case.
Since digital technology has changed the way we learn, EdTech has become one of the best industries to start a business in 2021. Online education has evolved and experienced a surge in investment globally. Like never before, the world needed effective and accessible technology to scale to millions of users in both academic and non-academic sectors.
As the pandemic spread, it forced 1.5 billion students away from the traditional classroom. Schools, colleges, universities, and other institutions suddenly required quick fixes to address students, parents, and teachers’ needs. The demand for diverse digital learning tools for corporate learners and adults willing to tune their skill sets started to grow as well.
In a Times Higher Education survey, 63% of university leaders anticipated that full university courses would be available for online studying by 2030. Analysts found that a surge in demand for online education and learning tools has already fueled the expenditures in 2020. For EdTech in 2020, they accounted for $227 Billion. The sector is predicted to be worth $404B by 2025, according to HolonIQ market research:
Another notable report found a growing interest in online education from brands. Wunderman Thompson names Brand academy as the next big thing for education. Indeed, there is an excellent opportunity for brands to contribute to teachers’ and students’ lives in 2021. There already exist online courses teaching students on non-traditional topics like diversity and sustainability in the USA. Facebook, among others, is at the forefront of the industry, shaping the trends for other technological companies.
If you are planning to invest in e-learning and education, look for tech-enablers with relevant expertise. Geomotiv is ready to deliver custom solutions, education platforms, live classrooms, teacher lessons marketplace, online certification, and miscellaneous LMS development services.
The pandemic made it more challenging than ever to find someone who’s never bought anything online. In 2020, people needed to embrace lockdown, which resulted in a significant shift to sales via the Internet. As a result, it propelled eCommerce to the list of the best startup industries, with plenty of investors looking for opportunities there. Retail eCommerce sales in the US alone amounted to 710 Billion USD, and this number is expected to grow by almost 65% by 2024:
Also, mobile app usage continues to grow, which has boosted mCommerce as a new way of online transactions using a mobile phone or a tablet. Mobile apps are likely to become the primary channel for online shopping and “the next big thing” for this startup industry.
There is also an uptick of interest in online supermarkets, local cafés, ghost kitchens, catering vans. Timely and affordable delivery services are also in demand. According to Morgan Stanley the online food delivery market was worth $45 billion in 2020 and is expected to accelerate its growth in the coming years.
The soaring demand for online shopping and delivery services makes eCommerce one of the fastest-growing industries to start a business. It offers a massive opportunity for entrepreneurs in 2021 and the forthcoming years. The market is becoming very dense, which means that the competition is growing.
If you are thinking of developing an online store, then consider starting with a branded niche-specific product. You can find a particular area to specialize in and then push this strategy forward. It is more reasonable from the point of view of the allocation of investments and human resources. In this context, Geomotiv can enable your business’s digital transformation with our expert ecommerce software development services.
TV watching and online streaming have surged during the lockdown and continue to add new subscribers and loyal fans as we proceed with 2021. Cord-cutting and the concept of content “anywhere and anytime on any device” continue growing. Another factor that fuels the demand for streaming services is the popularity of binge-watching among consumers.
Analysts from Reportlinker project the Video on Demand (VoD) Market to grow at a CAGR of 12.2% and add 1.16 billion subscriptions worldwide by 2025. Massive growth opportunities await the industry’s significant players, with Netflix, Disney+, and Amazon Prime gradually expanding their reach.
Here’s how many paying subscribers the key global platforms had in 2020:
As viewing habits are changing, VoD service providers are likely to expand their offerings and attract more subscribers. The closure of cinemas across has triggered the shift to online video services as well. Large production studios like Universal moved online for the first time. This happened to “Trolls 2”, a first to premiere online for $20.
This trend is likely to continue to grow, making streaming services one of the best industries for startups. In this way, entrepreneurs can unlock numerous opportunities hiding in plain sight. With Geomotiv’s TV Media software development services, you can join the conversation and break into the game of Netflix.
There is no surprise that Healthcare became one of the fastest-growing industries in the world in the previous year. Health-related tech solutions are experiencing a push right now, even though most lavish events have been sidelined in 2021. But the pandemic has set a direction for the industry, with medical and tech experts working closer than ever to improve the way we take care of our health and well-being.
Booming business opportunities attract many exciting startups willing to leverage the latest advances in healthcare technology and services. One of their most promising areas is telehealth, which involves tech-powered services and telecommunications outside traditional facilities. According to a new Telehealth Market Size and Analysis study conducted by Market Study Report, the sector is set to grow to $16.7 billion by 2025.
The demand for virtual non-Covid doctor’s visits is one of the primary drivers of the market’s growth. Elderly and chronically ill patients need regular guidance and treatment but had to stay at home due to stay-at-home rules and restrictions. As The Washington Post found, numerous people have ignored severe health problems that require hospital treatment. That is why the urge to make medical tools and guidelines widely accessible is becoming one of the top priorities.
Other thriving areas that make Healthcare one of the best industries to invest in include web and mobile apps for patients and doctors, Healthcare CRMs, healthcare analytics, and BI services. If you are considering starting a business in the industry, Geomotiv’s technology experts can help you stay ahead of the curve and provide the most ambitious solutions.
Leisure and Entertainment
Leisure and entertainment belong by right to the list of top industries to invest in. With the pandemic keeping people indoors, online services outside work are taking the world by storm. Many of us had to suddenly adopt digital technology and look for social activities, workout, and dating online overnight. That had consequently impacted the way businesses operate in the traditional leisure and entertainment industry.
Entrepreneurs looking to launch a new product in these niches started to surf new opportunities. As gyms were forced to close, the demand for online alternatives like exercise-tracking apps began to soar. Also, evolving virtual reality (VR) games and systems suggest a new way of working out for stay-at-home consumers. It seems like that trend will keep flying and consequently let us usher in an era of gamified fitness.
Meanwhile, apps like Tinder, Clubhouse, Bumble, and Hinge go through a new surge in downloads and interactions in 2021. Virtual dates and video chat services are thriving since they help users adapt to new interaction norms while under quarantine. The interest peaks with the growing unemployment numbers, as subscriptions to dating apps may become the way to cut household expenditures.
The previous year changed the way we use technology, contributing towards solving real problems. Simultaneously, the world experienced the need for change, with ordinary consumers and business owners adapting to the new measures induced by the lockdown. That gave rise to particular business niches and removed priority from the other ones. So, if you are thinking of good industries to invest in, our list may help you find success in 2021 and beyond.
From education platforms to gamified fitness software and streaming platforms - all solutions in the best startup industries involve online presence digitalization.
That is where technology experts can step in to the rescue to reinvent traditional businesses and invent new, compelling solutions for the future. If you are thinking of taking the opportunity to compete in one of the fastest-growing industries to start a business, engage Geomotiv’s team. We’ve built immense niche expertise in selected industries, Big Data processing, custom web, and mobile development.
Let’s craft the next generation of top-level solutions together.
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