Best Industries for Starting a Business in 2019!

Founding and growing business take guts and zeal to handle ups and downs while moving different paths of entrepreneurship. In today’s aeon startups pop up every day all around the globe, hoping to get acquired by a larger company. However, there are thousands of which fall into the dimness, which is why startups valued at a billion dollars referred to as “unicorns”.

So if you’re thinking about starting up your own business in 2019, here are the top most industries you should be looking into. The below-mentioned industries are most likely to take off.

Micromobility:-

Micro-mobility is the latest rebellion in urban transportation and it is creating a huge opportunity for startups that manufacture electric bikes, scooters, and skateboards. According to the United Nations Department of Economic and Social Affairs, “micro-mobility products will gain popularity as an alternative to traditional ground transportation and mass transit”.

Today, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. Therefore car trips could benefit from micro-mobility solutions.

Why it’s trendy?

E-bikes, E-skateboards, and E-scooters are convenient and fun. On the basis of Ford’s acquisition of e-scooter, startup Spin reported $100 million in November 2018 and has increased awareness of the Micro mobility industry all around the world.

Skills needed:

• Micro Mobility entrepreneurs will need to keep their eyes on the latest technological advances.
• E-bikes manufacturing companies will have to build software/mobile apps to track them and to manage a subscription service.

Barriers to entry:

• Building micro Mobility Enterprise Solutions at scale will require a convincing capital investment.
• E-scooters and e-bikes are illegal in some states

Competition:

Business consulting firm Frost & Sullivan expects to be launched more than 150 micro mobility vehicles by 2020. Smart-mobility companies Bird and Lime have been expanding their feet in more than 100 cities.

Growth:

• According to CB Insights Global investors put $3.7 billion into e-scooter and e-bike during the first 10 months of 2018, up from $2.8 billion in all of 2017
• According to Navigant Research, global e-bike revenues are expected to grow to $24.3 billion by 2025.

Digital Therapeutics:-

These days digital therapeutics have made eye-opening progress by encouraging patients to stick to the diet and help them to join drug intake regimes. For sure, after reading this, you might be thinking that it sounds like a Mhealth app and there are already thousands of mHealth mobile app development solutions are available in the market than why therapeutics app?

Your answer is here, https://www.consagous.co/blog/digital-therapeutics-the-newbie-of-the-mobile-app-economy/

Why it’s hot:

• It can address complex medical needs across a wide range of conditions.
• Products on the market or software programs to improve asthma and COPD.
• Digital therapeutics act as a supplement to outpatient treatment for substance abuse, depression, and pediatric ADHD.

Skills needed:

Mobile app developers will need to be able to create custom mobile application solution ranging from Enterprise Mobility Applications to interactive digital games and to navigate the healthcare industry’s regulatory environment.

Barriers to entry:

• There are significant hurdles in digital therapeutics industry.
• When doctors prescribe digital therapeutics, patients cross check whether insurers will cover these treatments or not.
• There is also unpredictability about how to price digital therapy wearable app development services.

Competition:

The U.S. Food and Drug Administration has approved nearly 30 digital therapeutic mobile apps in 2018. Click Therapeutics recently raised $17 million form Pharma giant Sanofi and has been helping the physician to treat patients suffering from depression and help people quit smoking.

Growth:

According to business consulting firm Frost & Sullivan, the U.S. digital market of therapeutics was valued at $889 million in 2017 and is expected to touch $4.42 billion by 2023.

Baby Tech:-

The demand for custom app development services is now stretching to a more vulnerable population i.e babies. Today mobile app development service providers are creating amazing solutions for fertility tracking, breastfeeding, and even getting infants to sleep.

Startups in this industry are coming with more latest and robust solutions so if you are looking for new ideas for your startup than this could be your startup idea.

Why it’s hot:

As now technologies are easily accessible to anyone, so it’s become easy to integrate new technologies into every product. Additionally, there’s been a demand for mobility solutions in the development that help people get pregnant and track fertility.

Skills needed:

• Mobile application service provider company must understand their target audience and what they can offer to them.
• Understand both technical skills and marketing expertise.

Barriers to entry:

• According to Gilbert for baby tech products, funding may be the barrier. Startups in the industry have yet to draw a large amount of venture capital.
• In order to survive in this industry, companies should constantly modify their existing products in order to build long-term relationships with the users.

The competition:

Competition in this field is modest, but there are many different areas within baby care that companies can target.

Willow is a top player of this industry, the maker of a hands-free breast pump; an ovulation tracking bracelet and smart scale producer Hatch Baby.

Growth:

According to the IBISWorld, the U.S. online baby product market is continuing to grow and reach revenues of $9.7 billion by 2022.

Summing Up

These are the most emerging industries which are mushrooming all around the world. Entrepreneurs in these industries are also receiving a good response from users or target audience. So you can also involve these industries into your target list in which you want to

Start a Business in 2019. Still confused don’t worry our experts are just a call away.