A tech startup refers to a company that produces tech-related products or services. These products or services are made available on the market for people to try. There are several ways on how tech startups are delivering their technology products or services.
Since the past few years when technology startup businesses started to flourish, the big innovations have come into play. They’re penetrating in the big retail markets in the world. They are giving access to the buyers expecting that the buyers will recognize their produced products. Consequently, the buyers will ultimately provide the startup owners with sustainable sales and profit.
Present Trends of Tech Startups
Below are the top 5 trends in the technology startups industry.
- Artificial Intelligence
Artificial Intelligence (AI) is also known as Machine Learning Tools. It is the number one trend in the tech startup industry. In a whole year, you can expect hundreds of creators of AI startups. The growth of this particular sub-industry is edging across the globe. And one of the most popular startups in this field is Tesla. This company has been customizing AI chips that allow the so-called “instantaneous driving.” Without the need for human drivers, self-driving cars can run.
But it is important to take note that the artificial Intelligence industry has been posed with a lot of challenges. Overcoming those challenges is still on the headway as the creators of those AI-based startups do not stop conceptualizing ways on how to revolutionize their crafts.
- Remote-Based Work
In the past, working only means you’re going to an office or a factory. This is an industrial way of defining work. Today, there is already a transition. From the past office-based or factory-based work, there is now what we call as “remote work.” In tech startups, this is one of the most popular trends.
Consequently, there are companies that allow flexibility in their workforce. They let their employees work from home or from anywhere they are. There are small-scale and medium-sized companies that permit their workers to set up remote-based teams. In terms of productivity level, working remotely is still productive due to the available tools being used for monitoring and work performance tracking.
- Sustainability Startups
Climate Change issues have been knocking our doors. They are calling our attention and they want us to act accordingly in an immediate manner. The awareness of environmental issues has been increasing. This reality has led to the opening of a new tech startup opportunity related to environmental sustainability.
These sustainability startups are also known as “green startups.” You can learn about the 10 fastest growing sustainability startups in 2019 here. One of the causes that have triggered the creation of these startups is social responsibility and concerns. Way back in 2016, the sustainable investment assets in the world were pegged at $22.89 trillion. With this figure, we can say that people have been awakened by the global sustainable needs. And this fact has led to the birth of this particular trend to resolve the problems related to plastic waste, security threats, and global health.
Let’s define femtech first for you to understand it deeply. This is a newly revolutionized sector in the business industry that focuses mainly on women’s healthcare. This is the shortened term for “female technology.”
As a revolutionized tech startup, it has female-related products, diagnostic tools and software, and other vital services for women. The main goal is to improve women’s health globally. The major concerns of femtech are related to sexuality and fertility. For example in Europe, a startup named Elvie produces breast pumps. These pumps are wearable for women.
- Well-Being Technology Startups
This is one of the 5 top tech startup trends that everyone might know already. Wellness is now considered as the fastest-growing business. Many startups have chosen well-being as their focus because of the necessity to take care of human lives and to prolong human existence. As the market for wellness tech products has been expanding, the multi-market opportunities have also been highly evident.
Co-existing with this present trend is a related industry called “wellness tourism.” There is an expectation that by the year 2022, wellness tourism can become a billion-dollar industry. Products related to fitness are proliferating because of this trend’s impact. And a lot of people recognize the necessity to go to the gym facilities in the airports, seaports, and other wellness themed-travel locations to conduct fitness activities using the tech startups products.
If you want to know more details about tech startups, contact NetShop today.