Process & Business Expansion
Posted 21 Apr 2020, Editor's Desk
What industries should excite you in 2020?
Are you planning to start your new business venture?
You must be wondering if you have your eye on the right industry or not?
Starting your own business is not easy. There are so many things to consider, from market demand to competition, but it will all be worth it.
To help you drive the wheel towards the road to success, we’ve rounded up 5 fastest growing industries to start your business in 2020:
1. Ed-tech
Data Points for the Industry:
If educating people is something that you’re passionate about, Ed-Tech or Educational Technology may just be the startup industry for you.
The growing popularity of online learning has provided a major push to 3 of the top subsectors in the edtech market:
What’s the upside of Ed-Tech industry in India?
Fundamentally, India is one such market where there is a lot of focus on education. Most parents aspire to see their children aim high in education, and hence, people are willing to pay for these services.
Ed-tech is considered as one of the fastest growing industry in India.
2. HealthTech
Data Points for the Industry:
Increase in population, changing lifestyles and environmental instability pose newer challenges, as new diseases appear. To tackle these challenges and focus on mass scale solutions, it is important to encourage technology & automation in the Indian healthcare sector.
What’s the upside of HealthTech industry in India?
Data Points for the Industry:
For years, FinTech (or Financial Technology) has been a hot startup sector and one of the best industry for business in India. The digital payment space in India is set to witness interesting times as WhatsApp, the global messaging app, is coming in a phased manner with its payment services.
What’s the upside of FinTech industry in India?
There is no doubt that competition in the fintech industry will intensify in the year 2020, however, it will still remain one of the fastest growing industries in India.
4. Gaming
Data Points for the Industry:
Today, gaming industry has grown to become one of the biggest in the entertainment sector in the world and is considered as one of the fastest growing industry.
With smartphone penetration at its peak, the Indian gaming market ranks 5th among the world’s top mobile gaming markets.
What’s the upside of Gaming industry?
Games such as PlayerUnknown’s Battlegrounds (PUBG), FarmVille, Candy Crush Saga, and Clash of Clans, with social and multiplayer components, only furthered the trend, making gaming one of the fastest growing industry.
Data Points for the Industry:
The more time people spend online, the more they are exposed to data breaches & violations of digital privacy.
Due to major data privacy thefts & scandals like Cambridge Ananlytica, companies and consumers have now become more aware of these risks.
What’s the upside of Data Security industry?
Though Data Security is one of the fastest growing industries, but starting a cyber-security company is no easy feat but the starting point could be by offering consultancy services to local companies.
If you’re thinking about starting a business soon, be where there is enough sunrises. Be a part of those sectors where the next wave of growth will come from.
We have given you a lowdown of the 5 best industries for business in 2020 and should be well considered when establishing a new business