Startups are highly sought after in many industries today. The 10 hottest industries for startups in 2019-20 are outlined below.
Artificial Intelligence: Artificial Intelligence (AI) is the use of computer science and engineering to emulate human behavior. AI is used in a variety of industries, like healthcare, automobiles, and finance. AI startups have attracted heavy investments in the past years due to their potential to revolutionize many business sectors.
Blockchain: Blockchain technology is on the rise as businesses begin to understand its potential to securely and efficiently record, store, and manage digital data. Startups are now turning to blockchain technology to create innovative business models and create more secure data management systems.
Cloud Computing: Cloud computing is the delivery of virtualized computing services over the internet or a private network. The cloud computing market is expected to exceed $500 billion by 2022, and startups are taking advantage of the opportunity by providing cloud computing services.
Cybersecurity: Cybersecurity concerns have been central to most businesses over the past year as more data breaches have taken place. Startups are now emerging to provide effective cybersecurity solutions that companies can trust.
E-Commerce: The e-commerce industry is booming as people migrate to buying their products online. Startups are now providing more innovative e-commerce solutions that are disrupting the traditional brick-and-mortar business model.
FinTech: FinTech (financial technology) is the use of technology to improve financial services delivery. FinTech startups have been growing to provide more secure and efficient financial services.
Internet of Things (IoT): The Internet of Things (IoT) is the interconnection of physical devices with network-based services. Startups are creating solutions to make IoT devices more secure and efficient.
Medical Technology: Medical technology startups are growing and their solutions are become more sophisticated. These startups are creating new and innovative medical devices and solutions that will revolutionize healthcare.
Virtual Reality and Augmented Reality: Virtual Reality (VR) is the use of computer simulation to create an immersive experience and Augmented Reality (AR) is the use of computer graphics and projection to augment the user’s reality. Both technologies are being used in various industries and VR and AR startups are increasing.
Video Streaming: Video streaming is rapidly changing the way people consume content. Startups are now emerging to provide video streaming services that are more secure and efficient.
These are the 10 hottest industries for startups in 2019-20. Startups that focus on these industries have a good chance of succeeding.