15 Lucrative Industries In the Next Decade
In may 2022, Alexa.com, Amazon owned website that provided web analytics closed its doors after two decades of operation. Alexa became a big business idea that led Amazon developing Alexa the assistant. It is worth noting that Alexa had been a giant in web analytics for over two decades bringing forth technology that was dependable to every internet entrepreneur.
In as much as there was competition for Alexa from likes of similar web, ahrefs, ComScore, Moz among others, Alexa.com stood tall as a go to place for any content marketer or researcher. Moreover, there are other web assets that rely on alexa data to operate. Alexa.com was a revolutionary product. It was sad to see it exit the web.
Amazon’s Alexa.com was a big idea in terms of the solutions it provided for its users. Websites were valued based on the analytics provided by alexa. In this article we try to explore the industries where the next big business idea is likely to emerge from.
1. Data Analytics/ Data mining and analysis
Data is the future. How data is used matters and there is need to manipulate to help in decision making. Public and private entities have leaned towards data analytics since it helps in making sense of data. Generate trends and insights . Business idea in analytics and interpretation of data will get support from all quarters of the devide.
Development and discovery of data mining tools would be an area anyone seeking business ideas would seek to explore. Big tech firms like Oracle are investing heavily in these tools. You should consider tailor your thinking around big data for your next business idea.
2. Online courses/ online education
Alot has relocated online since the pandemic struck. Business ideas too. Work from home has been embraced and so is online schooling. More people will be seeking education online with learning institutions rushing to meet the growing demand for virtual classes. Any discoveries in these lines will likely pick up very fast.
Any business idea around online tutoring, library, online high school online gaming among other ideas is what people interested in education will explore including the government itself.
3. Sustainable Agriculture
Agriculture is the backbone of many economies especially in Africa. Policies are being designed towards making countries more food secure, alleviate unemployment and create opportunities for investment. Agriculture is an old practice among the human race. The truth is agriculture cannot be abandoned.
Advancement in agricultural technologies and improvement in farming methods are likely to dominate innovations in the coming years. Sustainable agriculture is the principle that dictates that we have to meet the food and textile need without compromising the future generations ability to meet their needs.
Increasing number of college graduates are going back to age old practice and younger people are finding love for the craft once more. Small business Ideas that leverage agriculture will obviously be welcome and likely to attract investors.
4. Subscription service
Subscription service is another game changer. Innovation around this type of service will attract attention. More service enterprises are moving to have their services provided online and through subscription models, small businesses can leverage the huge potential of the online space to increase revenues. Any ideas around this would be welcome with both hands.
5. App development
This has already gained ground over the past decade and what you expect is better applications to be developed to make work easier for users. But as technology metamorphizes to integrate AI and Machine learning, App development is an area with huge potential for growth. The increase in number of super applications that can intergrate communications and finance has attracted the attention of policy maker. Therefore, those interested in this space would want to continue researching.
6. Chatbots Development
As annoying as chatbots may be to humans, they are taking over your instagram,facebook and twitter DMs. Elon Musk had to hold or revise his bid to buy twitter because of this possibility. It is possible the telegram channel you are glued to is controlled by a bot.
Chatbots are software applications that are used to conduct online chat conversations instead of human agents. Bots are engineered to respond in a particular manner. Ideas in business that can assist in making bot
7. Influencer marketing
This is becoming big. Those with larger audiences online rule. Brands that seek to promote products will likely have more visibility online than offline. There advancement along these lines will likely to attract the attention of influencers. Facebook recently decided expand its monetization to more content creators which will definitely attract more young people to it. It is an are you can tailor you small business ideas to.
8. Blockchain and NFTs
According to CNBC, one in five adults have invested in, used or traded crypto. Digital assets have gained popularity attracting the attention of policy makers. Cryptocurrency has been on a free fall since the beginning of 2022. Bitcoin has shed more than half of its value and losses are running in billions of dollars.
Further, crypto has had its own share of challenges including susceptibility for fraud and lack of oversight. Well, blockchain and NFTs have been gaining ground in the last couple years. Read this piece on Time about how high the interest in crypto skyrocketed. Any business idea along crypto will gain ground dispite the setbacks of 2022
9. Augmented Reality (AR)
10. Renewable energy (Green energy)
The bitter truth is the world is moving away from fossil fuels and embracing renewable or green energy.This is occasioned by the rising global temperatures/global warming. Business ideas geared towards promoting renewable energy will get global support. These ideas will be in the lines of Bio energy, geothermal, hydrogen, hydropower, marine, solar and wind energy. Solutions around these sectors will succeed.
Solar power wind power recycling business green building/ construction, electric cars, sustainable agriculture, Eco tourism, water conservation, waste to energy
11. Cyber security
Cybersecurity involves developing protection for computer systems and networks from external or information disclosures, or theft of the information or damage of hardware.
12. Internet of things (IoT)
13. Autonomous Everything
Autonomous everything is a term gaining traction among tech enthusiasts lately. There are those who are dedicated to building hardware and softwares that do things on their own. Companies have been using chatbots to handle customer queries, vehicles have been built to self drive and more is expected to come.
Autonomy is the ability of systems to independently function without direct control or supervision from humans.FInd out more here on what is happening in the field of autonomy
14. Edge Computing
Edge computing, IBM says, is a distributed information technology architecture in which client data is processed at the periphery of the network.
You will need to explore the possibilities that will be unlocked with the adoption of edge computing in the near future
home healthcare/ senior healthcare/ personalized medicine17.