Entrepreneurship has become the talk of the town, with budding entrepreneurs making it big in the start-up world all over India. Launching a new business has become a fad and it has become dependent on a number of factors too, starting from the industry that you are aiming to target and the scope that is already available in the market.
If you plan to join the entrepreneurship wagon and join the bandwagon, take a pause and read this blog. It will enlighten you about some of the biggest growth industries for start-ups today.
Top industries for startups
1) Artificial Intelligence: Has taken up the tech world by storm and it is unlikely to witness a halt. Machine Learning and AI have become an integral part of our lives with virtual assistants like Siri, Alexa entering our homes and automated bots corresponding to us on live chat. The future of AI looks bright and in facts, the growth is estimated to be about 1.2 trillion by the end of 2010.
2) ESports and Gaming: The industry has seen a major breakthrough in the past decade which has led to becoming one of the mainstream areas of business. The esports and gaming market is growing at a whopping 200% every year and with an increase in the esports industry growth, advertisers and investors have finally begun to invest in this sector widening the scope of the industry.
3) Beauty and Lifestyle: The amalgamation of beauty, technology and lifestyle has become an interesting notion which is doing quite well in the business front. With new innovation that is incorporating machine learning and industrial automation in the production of beauty products such as shampoos, perfume and makeup accessories. Ever since the wave of beauty products such as shampoos, perfumes and makeup accessories. This has become one of the hot-spot for many entrepreneurs as the industry is comparatively new and trending.
4) Influencer Aid: Focuses on influential people instead of the target market as a whole. Influencer marketing identifies social media influencers who have an influence on the target audience and design marketing strategies around them. Revenue that is generated by the influencer aid industry is expected to make a leap by 70% that has been donned with the credit of being the world’s fastest growing marketplace where brands connect with micro-influencers.
5) Software Services: We are all living in the digital edge where every aspect of our lives is dependent on one technology or the other. In this tech-savvy era, software services have seen a huge audience and market. This is the right time for people with entrepreneurial buy to enter the zone with their business ventures.
6) Data and Analytics: Is the emerging treasure box for entrepreneurs. This year alone, the revenue generated by the Big Data market is expected to take a leap from 40 billion to 100 billion. The volume itself speaks about the plethora of opportunities that are available for start-up ideas to flourish.
The way ahead
Chennai ranks as one of the favourite destinations of study for students. CBS is offering a PGPM Course in Entrepreneurship Management to help budding start-up enthusiasts understand the dynamics of Entrepreneurship. If you are too passionate about beginning your own business venture, sign up for the course now.