Oftentimes, startups have a low budget while being full of potential and strength. Many startups even revolutionize the industry with which they affiliate. These innovative brainchildren can end up integrating seamlessly into society, both at a local and global level. We live in a fast-paced and dynamic world where millions of businesses launch daily. Listed here are some domains that promise massive growth for startups in 2021.
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Artificial Intelligence (AI)
Artificial intelligence (AI) is a modernized technology that exists to automate manual tasks. The AI market is on the rise, with a growth percentage of 55.6% between 2016 and 2025. The price for AI technology is extremely expensive but worth the purchase. This is why multiple startups and large companies are attracted to this market. The artificial intelligence industry embraces new players as they are needed for growth and does not hesitate to invest in startups that promise an influential spark and hard work.
In this way, multiple startups are becoming an integral part of this industry. For instance, AI technological equipment is utilized to recognize lung cancer while earning 10 million dollars for this industry. The AI industry also produces technologies that assist in business operations. An example of this is the AI-powered company, Cinnamon, which creates products to replace mundane paperwork operations. Additionally, the AI-integrated technology company, People.ai, has increased its earnings to around $60 million by creating guidance systems to improve sales team performance.
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Personalized Nutrition
Today, consumers demand personalization from buying, investing, listening, watching, traveling, etc. This case is especially relevant in the field of nutrition. The domain of personalized nutrition is remarkably progressing, as it is predicted to make around $50 billion in the upcoming years. As a result, this industry has sparked the interest of large corporations. For instance, big names such as Nestle and Mars have acquired personalized nutrition startups.
Suppose you collectively overview the customized world with its’ variations and demands. In this case, you will gain the interest of other companies for your personalized products and services. These types of trends open the doors for startups and improve the business proceedings of the global market.
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Virtual Reality
Previously, virtual reality (VR) exclusively referred to the gaming industry or the department of gamification. However, this market has a strong connection with modern technology and is constantly growing. The influence of VR has expanded to other domains, such as education, real estate, mental illness treatment, medical training, education, sport, military training, recruitment, etc.
The popularity of the virtual industry increases with technological advancement at an international level. The 2016 company Varjo introduced its’ operations to the world by creating products for the human eye, with similar quality of professional industries. Since then, the company has earned $31 million in Series B funding. Consumers say that their revolutionary implications actually live up to their claims. With this type of monetary incentive, the market of virtual reality is projected to earn $120.6 billion by 2026.
The promise of this industry attracts different startups eligible for investment. Also, the growth potential creates trust in new businesses for funding without reservation.
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Blockchain
This market is facing multiple challenges, such as political, structural, behavioral, etc. A dramatic shift has converted this traditional monopoly-making industry into a diverse market with a CAGR growth rate of 68.1% between 2019 to 2027. For example, the company BITCLIQ became the first business in the fishing industry to utilize Blockchain. Another famous startup out of Indonesia called HARA uses Blockchain to provide useful data to small farmers. Additionally, the blockchain industry strives to eradicate the use of paper money, another example of how old practices are modernized in our dynamic world.
Last Words!
Multiple startups leverage different markets, and these markets benefit from this integration. The core reason for the above-mentioned industries’ outstanding progress is through the efforts and funding of startups. Merging with these innovative businesses allows companies to provide modernized services in the global business market. Quickly, other startups will join this chain. Larger companies will take an interest and purchase their products and services. This way, markets, startups, and big companies can level up their businesses from their respective ends. Integrating startups’ products promises big opportunities for those preparing themselves to become a part of the global market.
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