Introduction to best tech-related business ideas
If you have very much interested in technology and want to start a tech-related business, then you are in the right place. If you see, nowadays our lives have been constantly influenced by technology. From conveyor belts to automation, it’s a technology that has made our lives better. But the role of technology in elevating our lifestyle is not just restricted to consumers.
For business owners, technology has been highly rewarding. Tech has always offered lucrative business opportunities to those who envisioned a future, a world with tech in it. So, if you intend to capitalize on this booming market but wondering how to go about it, here’s a resourceful guide.
Ideas for starting a best tech-related business
The best part about technology business ideas is that they don’t require a lot of overhead—you can start small and grow over time. However, you will need some level of technical knowledge to be able to successfully start a business in the industry. If you don’t have any, we’d recommend enrolling in a coding boot camp before you get started. In this article, we would provide profitable tech-related business ideas to start with low to medium investment.
Here are some of the best tech-related business ideas for 2020 to help you get started.
Become an internet provider
You can apply and obtain a license to become an internet provider in your country. In recent times, the number of internet users has increased tremendously simple because of the availability of several internet providers. So if you are looking towards starting a business in the infotech industry, then one of your options is to become an internet provider; it is a thriving and profitable business venture.
Chatbots function on machine learning and other allied aspects of artificial intelligence like deep learning. By now, most of us would have experienced chatbots.
While we think we’re chatting with a customer care executive on a product or service-provider platform, it’s mostly the chatbots at work. While some are even close to cracking the Turing test, chatbots are here to make the online time of users valuable. This is also backed by stats as over 90% of the business surveyed reported that chatbots were able to resolve their customer complaints.
Open a one-stop info tech shop
IT one-stop-shop is one of the highly booming infotech businesses that any IT inclined entrepreneur should consider starting. If you’re interested in starting a retail business, you can open up a one-stop-shop where people can purchase tech items, and will buy computers and mobile phones, smartphones, accessories, repair their computers, mobile phones, cameras, and other I.T. gadgets. And you are sure going to attract loads of clients per day especially if your shop is centrally located in a busy city.
Offer web designing services
Another booming and profitable info tech-related business ideas those entrepreneurs can start is to offer web designing services. This business is always in demand as almost every company needed creative hands who can make an attractive website. If you are good at graphic designing, interface design, copywriting, UX design, you can surely rely on these skills and you can choose web designing as your career. All you need to do is to also list your services online and if you are good, you will attract clients from all over the world.
Robotics is a bit of a catch-all term that encompasses mechanical engineering, electronic engineering, information engineering, computer science, and other related disciplines. The goal of robotics is to create machines that can move and react to sensory input. According to Statista, this industry is expected to grow from $80 billion in annual revenue in 2019 to over $200 billion in annual revenue by 2025.
Device for car tracking
Another trending and highly thriving and profitable business in the infotech industry is car tracker installation and repair business. Many people are getting the device for car tracking installed in their cars or vehicles. You can come up with a business in which you can install a car-tracker as well as provide the services for repairing it. Fleet operators and people dealing with public transport, especially use them to track and manage all their vehicles.
Most transport companies will not allow their cars to start plying the roads until they have installed a vehicle tracking system on it. Since the car tracking systems came into existence. This is one of the best innovative ideas in information technology.
Artificial Intelligence (AI)
In case if you miss this: How to Start an Organic Egg Production Business.
The term “artificial intelligence” is used to describe technologies on machine learning, computer vision, natural language processing, and more. If you have considerable knowledge about AI, you can initiate an AI business. You can choose a small part of it and make progress on it. Although artificial intelligence is a technology that has been around for quite some time, as it becomes increasingly sophisticated, its market potential is growing as well. The future is all about AI, hence this is one of the best future technology business ideas to start in 2020.
Services like Netflix and Disney+ get most of the attention when it comes to streaming services, but there is plenty of opportunities to start a streaming service for more niche content. For example, you can create a streaming service where users can upload instructional videos or a streaming service designed specifically for children’s content. You could also develop a platform for live streaming or streaming music.
Big data analytics service
Big data is another buzzword that has spread across the tech industry these days. With the huge amount of data available, many corporate companies are finding it difficult to have a summary. Hence, many corporates seek data analyst services that can interpret meaning out of large chunks of data. This service has proven to be successful for many businesses. Such a service would help with better product selection and boost the sales of the company.
Mobile application development
This is one of the best tech-related business ideas for beginners. Every business needs a website. And the way the market is trending, soon every business will also need their mobile app. This presents an exciting opportunity for individuals skilled in app development. But apps aren’t only for businesses. You could also develop an app for a game (like Candy Crush), utility (like Evernote), content aggregator (like Flipboard), and more. There is a countless supply of app ideas.
If you are looking for small scale technical business ideas to start, you can check the 3-D printing business. In today’s fast-growing world not only 2D documents but 3D documents can also be printed. Getting a 3D printer isn’t enough for starting this business, you also require a few other skills such as 3D graphic designing, engineering skills, soft skills, etc. If these are embedded in you, you can start your 3D printing service.
Another way to get involved in the tech world without having a lot of technical experience is to create your startup incubator. The job of an incubator is to help startups plan and launch their business successfully. Services provided may include management training, office space, and mentorship opportunities.
Of course, you’ll need some background in business to be able to successfully launch an incubator. The cost of creating your incubator and attracting founders may also be difficult to muster. Many incubators start small and grow over time once they have successfully helped multiple startups enter the market.
The rise of technology has not only allowed us to make money by promoting your products but generate revenue by promoting that of others, too. Called affiliate marketing, you can promote the products or services of other companies on your digital medium like your blog or website and get paid for the leads that get generated from your source.
This could be a serious business opportunity if the right amount of time and energy is invested. Over 15% of the revenue generated from digital media is linked to affiliate marketing. While there are several niches you can venture into, fashion remains the most popular affiliate marketing category.
Renting of gadgets
People often want to try out a few things before buying them or they just need gadgets for one time use for a project or an occasion. This means they would like to rent the gadgets so that they do not need to pay the full price to buy it. You can buy a few gadgets and put them on rent. Few examples of such gadgets are projector for a presentation, a drone for aerial photos, fit bits, phones, gaming systems, etc. This idea involves a bit of investment along with the market research as to what people want to rent. It is one of the new innovative business ideas in India that are emerging now.
Fitness gears and wearable
If you still undermine the effectiveness of wearable, understand that an Apple Watch had saved the life of an individual by predicting a heart attack. Consistently keeping track of people’s heart rate, hydration levels, pulse, and other vitals, the device uses IoT (Internet of Things) and analytics to consistently find patterns from the data it generates. With this, it implements either prescriptive or predictive analytics to offer suggestions on your health or warn you about it.
You should not miss this: How to Make Money from Webinars.
Develop antivirus for smartphones and computers
An antivirus developer is a highly specific sort of tech business idea that pertains to the creation of antivirus software that can help businesses protect critical data. Antivirus software can be created using a variety of different programming languages. The overall goal of an antivirus is to detect and remove malware before it impacts a computer’s systems. Start networking with local businesses in your area to find out if there’s a need for this service. It is a thriving and profitable business a techie inclined entrepreneur should consider starting.
Start an online school
Another info tech-related business idea that an entrepreneur can successfully start is an online school. The concept of online learning is rapidly gaining ground; universities all over the world are beginning to create online learning platforms for students all over the world. Their several subjects someone can study via an online school; it could be obtaining technical skills and a diploma and it could be obtaining a degree or MBA.
If you are passionate about impacting knowledge, all you need to do is to secure the required license, permits, and accreditation from the government of your country.
Still seen as a major recreational medium, drones can pave the way for a very lucrative business opportunity. For those of you who didn’t know, drones can be used as tools for surveillance, inspecting agricultural farmlands, delivering of blood during an emergency, increasing safety and security protocols in construction sites, in event photography and security, and more.
However, a lot of countries are still deploying new protocols and rules for drones as they are also seen as threats. Apart from the skill to fly a drone, you also need to be aware of drone regulations of countries. You have to then work on defining your business and its purposes.
Services in cloud computing
Traditionally, information or data was stored in physical servers, hard discs, or desktops but now with business and organizations getting global, many people want their files or data to be accessible to different places at the same time. Cloud computing is a very popular area of technology where information is stored on the web. You can provide services of cloud computing to your clients. This is one of the top future technology business ideas to start in India.
Start an online library business (e-library)
An online library is another platform where people learn different subjects at a reasonable fee. The internet has made it possible for people from different parts of the world to be registered in the same library. E-library is a resource center where you can conduct thorough research and study from the comfort of your home no matter the part of the world you live in as long as you will have an internet-enabled device.
We hope our list has helped you figure out which tech business idea is the right fit for your skills and interests.
The conclusion of the best tech-related business ideas
It becomes really necessary that you have all the knowledge and skill required of you. Some of these skills and knowledge are such that you can acquire by sitting under the tutoring of an expert, whilst others might be acquired online via technology.
For passionate individuals who are well acquainted with the digital world, there are plenty of business opportunities for them. You just need to pounce on an idea, modify it to your needs, and work hard on it, success will follow.
In case if you are interested in Latest Agriculture Technologies in India.