If you’re onto a great startup idea in 2021, the chances are it’s rooted in technology. This is fantastic, but it also makes your endeavor difficult. According to Investopedia, around 90% of all startups failed in 2020 across all sectors. This means you’ve got stiff competition and you’ll be bringing your startup against the grain.
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Best Profitable Tech Startup Ideas to Watch
However, trends are constantly changing, which means if you stay on top of them, you could create a tech startup that stands a chance of surviving. Luckily, we’ve done the hard part for you. Below, we’ve compiled a list of tech business ideas that are set to boom over the next few years.
Social media platforms are in constant development, and there will always be something new. Luckily, for all you tech startup people, the general public will be forever glued to various social media channels.
If you’re about to launch your startup, you should embrace the world of social media fully and endorse influencers to place your product in their content.
If you do well, they can bring in millions of viewers that will all be influenced by your product. To find out more about the marketing side of the business, you can study mba programs at Kettering Global.
Influencers will be around for a long time, and so will startups. So, another good way to break into the influencer marketing area is by operating a brand to influencer matching service.
The internet has continued to grow since its inception, and it’s not going to stop any time soon. Web design will never go out of fashion. There will always be a business in need of a professional digital face. This is where your future startup comes in. If you can prove you are an expert in the field, with metrics and data to prove it, you stand a chance of succeeding.
With a startup in web design, you will be responsible for developing quality content/copy, boosting Google rankings through SEO, and creating flawless user interfaces.
There has been a steady growth across the web design sector, with revenue figures sitting at around $40 million. With this in mind, it’s safe to say that there will always be space for quality web designers.
Customer Experience Management
If there are businesses, there will always be customers – it’s the circle of life. This trend is shifting the customer tech focus from customer relationship management (CRM) to customer experience management (CXM).
The primary difference between the two is that a CXM puts all aspects of the customer experience into one centralized hub including marketing, conversations, and sales. This format puts the customer at the center and treats them in the way they deserve.
If you enjoy helping people and you’re looking to break into a startup industry that isn’t going anywhere, you should stay on top of your latest CXM competitors.
Everyone loves food, everyone needs to eat food, and there are plenty of openings in the industry for budding startups.
One of the most prevalent areas of food tech at the moment is the development of meat alternative products that keep the vegan army happy. 3D printing plays a large role in this process. SavorEat is an innovative startup out of Israeli that utilizes robotic chefs alongside 3D printing to create plant-based food.
Another great way to break into the food industry is through process digitization. This has become particularly relevant on the back of the global pandemic that saw the hospitality sector grind to a halt. Now, the industry is on a journey of digitization that will prevent such large-scale closure in the future.
Put an umbrella out and you’ll cover everything – which is what robotics does. This area of tech involves disciplines ranging from mechanical engineering to computer science. Essentially, anything that involves the creating of machines that are reactive to sensory input falls under this umbrella.
Luckily for people looking for startup opportunities, robots are the way forward and people are fascinated by them. The robotics industry is projected to increase by over $200 billion in revenue over the next five years.
Artificial intelligence refers to a branch of technology that involves machine learning, language processing, and computer vision. This type of technology is extremely complex, and there is an enormous area for growth in the market.
One of the most prevalent trends of 2021 is an increase in communications between cloud computing and AI. Equipped with AI, leading businesses in cloud development will be able to monitor enormous amounts of data with ease.
Further, AI has a significant role to play in the automation of operations. Technology has become extremely complex, which means that businesses need IT solutions now more than ever. This is where AIOps will play a more pertinent part within the business sector.
This technology isn’t ground breaking, since it has been around for quite some time now. However, it’s projected to continue growing in the coming years. The beauty of eCommerce is that all you need is a solid idea and a steady internet connection.
Although to grow a successful business you will need to have storage facilities, it’s not an essential straightway. You can create a business and utilize dropshipping. This means that you don’t need to take responsibility for storing and manufacturing your product.
You can attempt to create a marketplace and bag yourself larger shares of the process. However, you need to remember that this space is already being taken over by Amazon and Shopify. Therefore, if you decide to go down this route, you will need a specialist market to focus on.
In the age of social media and online searches being ruled by the almighty Google algorithm, there’s no surprise that content creation across all platforms has become a primary focus for marketing experts. This is great news for budding tech entrepreneurs. Businesses will be constantly searching for efficient content automation tools.
The requirement in this area is huge. Social media platforms all cater to a different model of marketing, and as of yet, there is no centralized solution for content automation.
Tech startups should look to fill this gap by creating one hub from which every social media channel can be analyzed. Further, brands need to have access to one solution for all of their promotional needs. If you can pull your mind together and fill this gap, you’re onto a sure winner.
As the tech guru that you assumably are, you’ve likely noticed the blow-up in popularity of podcasts over recent years. According to Podcast Insights, around 75% of Americans are familiar with the word podcasting – and 55% of Americans have listened to a podcast.
This is not surprising, with media giants including Spotify, YouTube, and Amazon’s Audible all making podcasts readily available while actively marketing them.
Therefore, if you can create a dedicated podcasting service that cuts through the noise of well-established giants, you are onto a winner.
Alternatively, no matter what area of tech your startup is in, you should focus on creating quality podcasts as well as regular visual content. The beauty of podcasts is that they can be listened to without using much brain power – make the most of this.
The world has gone fitness crazy, especially after being stuck inside for the best part of two years. You will likely be familiar with the likes of Strava and Fitbit that have revolutionized the way that people workout. With the population getting onboard with the idea of exercise and technology, there is plenty of scope for development, which is where you can step up.
Whether you’re making ground breaking developments in fitness trackers, smartwatches, or wireless earbuds dedicated towards exercise, there is so much scope for development.
Moving away from physical technology, there is space for development on the digital app side of fitness tech. People enjoy tracking their health and learning insights. With some hard work analyzing what already exists, you can push a successful startup by being better.
Mobile App Development
The vast majority of the world has a smartphone on them at all times. This means there will always be space for new apps. However, you need to create your business correctly from the beginning otherwise you will fail to slice through the noise.
There are plenty of directions to travel down this road. You can develop an app for businesses that helps ease operations. Alternatively, if you’ve got a brilliant game idea, you could become the next big craze – remember Candy Crush?
As mentioned, developing a successful mobile app will require careful planning from the start. You will need to ensure that your marketing is on point, your prices are generous and be sure that your app serves a purpose.
Luckily, for a freebie and some other rewards, people will be willing to give you financial backing. This means that you will have more revenue to iron out the kinks in your game.
Google – everyone’s best friend, unless you’re a business without a clue how SEO works. In 2021, you need a website to stand a chance of ranking first on Google. This means creating content and building your website to appease the Google algorithm. People are willing to pay enormous amounts of money to have an expert take care of the SEO aspects of their website.
There are two ways to create a business geared towards SEO. You can create an agency that offers a service like white hat link building.
Alternatively, you can teach yourself SEO and become a one-man-band. Plenty of businesses partner up with freelancers to optimize their websites. Once you’ve built up a portfolio of evidence of your skills, you may want to consider growing your business.
Augmented reality (AR) and virtual reality (VR) are fast becoming commonplace. Each of these falls under the umbrella of extended reality. This is an area that is set to see enormous growth over the next few years. People are obsessed with this technology, and more industries will look into ways they can implement the gear.
The most understandable use of VR in the public eye is video gaming. This is an area that stands to be pushed to the next limit. People marvel at the opportunity to become fully submerged in another world at an affordable price.
VR gaming has even jumped on the big screen, with Spielberg’s Ready Player One, based on the novel by Ernest Cline. If you can break into this market, you stand a good chance of succeeding with your business.
This follows the same premise as web design. As long as there are people needing websites, there will be a need for domains. So, why not get into the domain dealing business?
The fancy word for it is domain broker. To get off the ground, you will need to put in some work and gain some finance to purchase domain names. You may think this sounds easy. However, you will consistently need to look to the future and predict what domain names will be required.
Little Tech Knowledge?
If you’ve got very little tech knowledge, you can still get involved in the tech startup world. Instead of creating tech, you can offer business support to tech startups – this is called startup incubating. The concept is self-explanatory. You will be responsible for nurturing the growth of startup businesses.
That way, the tech gurus can concentrate on pushing the boundaries while not having to worry about everything else. You can start by offering services to one or two businesses, and expand from there on the back to rave reviews.
Technology advancement isn’t going anywhere, so there will always be room for startup businesses. The trick is keeping on top of current trends and knowing which avenues are likely to lead to dead ends.
Take the marketplace business – you will have a difficult time matching up to the likes of Amazon. Analyze the current offerings and head down a path that you can garner change in. The road will be tough, but the end can be fruitful.