Top 9 industries for Starting a Business in 2019

Top 9 industries for Starting a Business in 2019

If you are planning to launch your maiden business venture in 2019, or if you are an experienced entrepreneur aspiring to explore new investment opportunities, you cannot help but get your priorities right. While having valuable resources in place can be an advantage you need to back it with a good business idea. You need to bold and take calculated risks to get the most out your investment. Entrepreneurs need to make well-informed investment decisions for which it becomes important to identify industries that have maximum possibilities of growth in the future.

To make things easier this writing aims to throw light on the sectors that are far from being saturated.  Keep reading if you are desirous of having a clear picture of the upcoming industries in 2019.

Micromobility

Urban transportation is undergoing a progressive transition rendering plenty of opportunities to startups whose product line specializes in scooters, skateboards, and electric powered bike. As per the reports of the United Nations, more than 60 percent of the world’s population is going to settle down in urban areas by 2030. In this backdrop, micromobility products will have a high market demand as an economical and convenient means of ground transportation and mass transit.

Baby Tech

It is the next big thing in the electronics industry. In contemporary times, people are extensively using pocket-sized computers and health trackers on their wrists, which can provide them with vital information on how well their body is doing. The demand for similar technological solutions is on the rise particularly in relation to childcare.  Startups in this industry can capitalize on the possibility of creating innovative solutions that will help to track fertility, breastfeed, and even get infants to sleep.

With the gradual decline in the cost of technology, their integration into new products is becoming convenient.  The emergencies of proven technologies that are helping people get pregnant and track fertility are most likely to experience a demand for deployment in childcare too.

Home Automation

If you take close look at the automation industry in Mumbai, then you will find that the concept of home automation has been trending for a while. With the advent of IoT i.e. Internet Of Things software has the ability to learn our residential preferences, and connect remotely with an app or a program.  It can prove invaluable in automating our homes and make them smarter like never before.

Home automation will allow people to make their home and office safe and energy efficient.  It is really amazing that with just a simple click on you can lock and unlock doors, measure electricity consumption of your home and accordingly activate and deactivate devices remotely.  You can have total control over who gets access to your home and office remotely with just a click on the virtual button of your smartphone.

As awareness of home automation grows among the masses, the adoption of associated technology will give impetus to the growth of this sector. It implies that innovation in smart Home tech is going to be a sustainable and continuous process complementing our digital needs and the growth graph of this industry will portray a steady upward trajectory.

Semiconductors

Connected devices that transmit voluminous information over a relevant network such as the IoT rely extensively on the part of semiconductors manufacturers.  In this regard, mention could be made to highly integrated microchip designs and low power functions in certain applications.

Hence, it brings a sea of opportunities to semiconductor companies for delivering highly integrated semiconductor chips and circuits to equipment and device manufacturers, and to brands who specializes in developing Internet of Thing products. Semiconductor manufacturers are going to be the lifeblood of the electronics industry. The role that they will play in the development of the market of electronic goods cannot be undermined.

Virtual Reality and Augmented Reality

As a technological concept, Virtual Reality (VR) and Augmented Reality (AR) have been there in the market for quite some time.  However, they hold the key that will open up new horizons of human experience in the next five years.  Conceptually, AR and VR complement each another. AR enhances reality while VR helps us to forget it.  It holds the potential to give access to a world beyond reality. In fact, it is going to pave the way for a new industry namely the internet of experiences. The recent investments in Magic Leap will make VR/AR a huge $150 billion industry by 2020.The demand for cutting edge VR and AR technologies to enhance human experience makes an investment in this industry profitable.

Cyber Security

Cyber Security management solutions are going to play a major role in the automation industry in Mumbai driven by the need to address the unique requirements of automated industrial equipment, applications, and plants. Alongside, it has a relation to the stringent constraints on network communications and system updates. At the same time, it will limit any negative impacts on control system operation. Successively, there will be a demand for industrial cyber security solutions to take care of unique non-PC based industrial assets, and control system protocols.

Digital Therapeutics

Nowadays the use of software applications is not merely restricted to entertainment and e-commerce. It is now extensively used in the treatment of medical conditions. Some of these even necessitate a medical prescription from the physician. As a startup venture, it can be a profitable option to consider as this category of medicine paves the way to create opportunities that may reduce the reliance of patients on pharmaceuticals.

3D Printing

3D printing is an indispensable part of additive manufacturing which in itself has been trending in the manufacturing industry for quite some time. If you have the right technical skills and equipment then it is possible to 3D print just about anything right from automobile parts to kitchenware.

With a gradual reduction in costs and improved efficiency in fabrication and manufacturing, this industry is exhibiting steady growth in recent years.  It is expected that the 3D printing industry will reach the $32 billion mark by 2023. Experts believe that 3D printing and green building practices are going to be lethal combination an industry that is expected to grow at a rate of 23 percent annually.

Electronic Automation

One of the rapidly evolving facets of industrial automation incorporates the electrical control of machines. It is generally called Mechatronic Automation. Analogous to popular consumer electronic products like Television and Tablets where technological breakthroughs are order of the day, electrical industrial automation components are undergoing revolutionary technological advancements.  

In contemporary times, the electronic automation industry is dominated by the need to find convenient ways to connect and control the various components of a manufacturing machine. Moreover, there is an increasing demand of a feedback system that will input mission critical data related to machine operation and performance into a statistical control system. Many modern manufacturing facilities across different industries make the best use of this facility.

Likewise serial communication is paving the way for users to control and receive feedback from several components via a single cable eliminating the need to exclusively hardwire all the components back to the PLC (Programmable Logic Controller).

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