The new year often brings fresh beginnings, career resolutions, renewed focus — and new business ventures. If you've been dreaming of becoming an entrepreneur, perhaps this is the year you've finally resolved to launch your own company. If so, be sure to take a look at these 10 industries where business is booming.
1. Internet of Things Thermostats that learn your daily habits. Wifi security cameras you control with your cell phone. Doorbells that recognize your face. The Internet of Things includes all consumer devices that connect to networks, and Gartner estimates there will be 26 billion units installed by 2020. By that time, IoT product and supplier revenue will top $300 billion. And between 2013 - 2022, the industry is projected to generate $14.4 trillion net profit globally.
2. Education Technology EdTech workers design and produce online classes, tutorials, help centers, and training programs for all levels of education, from pre-K to higher ed. In 2013, e-Learning was a $56.2 billion industry, and it will double that in 2015. The industry as a whole boasts a 4.4% annual growth rate, and cloud-based learning solutions are especially popular with a 9% growth rate.
3. Mobile Apps From addictive games and social networks to business and productivity tools, the mobile apps industry is showing no signs of slowing its upward trend. The number of downloads from the Apple App store alone has reached $85 billion, and global spending is projected to hit $35 billion in 2015.
4. Wearable Tech Smartwatches. Google Glass. Fitness trackers. Wearable technology is designed to monitor everything from our sleep cycles to our daily appointments, and the trend is spreading fast. The global wearable technology market is expected to grow a whopping 40.8% annually, becoming a $5.8 billion industry by 2018.
5. Business Apps The proliferation of mobile devices means three things: more people are working on the go, more companies are adopting "Bring Your Own Device” policies, and more organizations are embracing remote workers. All of this has led to the rise of cloud-based SaaS companies offering business apps that help teams work together from anywhere, on any device. Gartner predicts Enterprise software spending will grow 7.3% in 2015 to reach $344 billion.
6. Mobile Health Mobile Health (mHealth) involves using mobile devices and networks to support medical care in both developed and developing countries. The demand for affordable and accessible healthcare continues to grow, and more and more healthcare professionals are carrying smartphones in their pockets. As a result, the mobile health market is expected to increase from $14.5 billion in 2015 to $58.8 billion in 2020.
7. Automated Guided Vehicles Think robot forklifts. These machines automate warehousing logistics, like retrieving products to fulfill orders and preparing shipments to be loaded onto delivery vehicles. AGVs are spreading through numerous big industries, like pharmaceuticals, chemicals, food, automotive, and warehousing — essentially, any business that requires transportation of materials.
8. Digital Detectives Ever dropped your phone in the toilet? Or lost your laptop? So much data gets lost, corrupted, or stolen (just ask Sony, Target, and eBay). Digital detectives work to recover that data, or protect it from being illegally accessed. Companies that can assist investigations into phishing and bank fraud schemes or other criminal cases will be in high demand, as will the ability to recover sensitive data from jeopardized devices and networks.
9. Big Data Analytics Although big data has been a buzzword since 2010, most companies are still pretty overwhelmed by it. Tools that can help distill big data to better understand customers and inform business strategies will continue to be in high demand in the coming years. With the emerging Internet of Things, a corresponding "Analytics of Things" market will also grow, and the big data and analytics market is projected to reach $125 billion worldwide in 2015.
10. Mobile Payments It's been a long time since smartphones were primarily used to make calls. Mobile devices have become multi-tools, infiltrating nearly every aspect of our business and personal lives. The next stage of that is the convenience of digital payments. Mobile payments are projected to grow 60% worldwide through 2015, reaching 47 billion transactions.
What do you think 2015 will bring for entrepreneurs? Give us your take in the comments section.