There are a lot of factors one has to consider when going for a start-up. Having a start-up is nothing less than taking a leap of faith, and thus, one needs to think from every aspect before entering into the start-up culture. Aspects like the age at which the person is starting, the market situation, the type of investments one’s getting, business plan, market strategies get into the picture. It's not only about meeting with the public demands but it's also about anticipating and predicting them. In this blog, taking into consideration the market situation we have listed down some digital industries that will make it big in the future.
1. Artificial Intelligence
The capability of a machine to imitate intelligent human behaviour is artificial intelligence. The technology of AI has been such a success in various sectors that many humans see them as the future backbone of all major industries. Although this might sound as a threat a recent Gartner report noted that by 2020, AI will generate 2.3 million jobs exceeding the 1.8 million jobs it’s about to replace and will rise by 2 million by 2025.
The future roles in AI career are software analysts and developers, computer engineer, algorithm specialist, mechanical engineers and maintenance technicians, manufacturing band electrical engineers, surgical technicians, military and aviation electricians and the list goes on.
2. Virtual reality
Virtual reality literally makes it possible to experience anything, anywhere, anytime. It is the most immersive type of reality technology which can convince the human brain that it is somewhere it is really not. The virtual reality industry was roughly worth about $1.9 billion in 2016 is expected to climb up to $22.4 billion by 2020 which includes software and hardware sales. VR does not only include gaming, but also has applications in military, fashion, entertainment, business, marketing, medical sciences, nuclear reality, etc.
3. Augmented reality
Augmented reality on the other hand is the integration of digital information with the user’s environment in real time. An area that might be revolutionized by AR is the retail sector. This is where technology would bridge the gap between the online and physical shops, offering a richer experience. Computer games will also be a major area of development. The mobile industry will benefit implementing GPS to varying technology ranging from Google glasses to Apple watches, AR will be expressed by specific apps and micro-location technology like iBecons.
VR and AR will be largely used in the medical imaging sector. Tumour imaging during chemotherapy provides 2D information such as location, laterality, distance, size. This may bring the total cost of health care operations down, reducing the possibilities of a misdiagnosis.
4. Internet of Things
IoT refers to a network comprised of physical objects capable of gathering and sharing electronic information. IoT will play an important role in the future and there is expected to be a significant amount of cash flowing through the market in the upcoming years. Rapid changes in IoT technology makes it a challenging task for the most experienced experts to anticipate the future standardization in the field.
5. Cloud Computing
Often known as the 'cloud', it refers to pooling of technology resources for the delivery of centralised data storing and access services over the internet. Enterprises find it beneficial in several ways. Cloud computing simplifies accessibility, provides virtual storage space, addresses back-up issues,etc. Cloud computing industry is likely to reach $270 billion by the year 2020. This is a fast-emerging component of the IT industry. The demand for IT professionals continues to rise at an exponential rate as more people adopt cloud computing. Cloud architects, engineers, security experts, developers, expert analysts and similar IT jobs are based on Cloud computing.
As analysed above, these are the 5 major industries that would make it big in the future. Are you a tech person? These are definitely your go to industries for start-ups!