By Ankur Shah. Originally published at ValueWalk.
There are a lot of tech industries thriving right now, and others that are only just getting started. The ones that are just getting started are ripe for investment, allowing you to get in there early while the fire is hot. If you’re looking for tech industries to invest in, or create in, take a look at our top picks below.
Mobile Games
When you think of mobile games, you probably think of Candy Crush or Angry Birds. Simple games that capture your attention, making their money from a combination of advertisements and paid bonuses, but objectively you couldn’t say they’ve got much substance – not when compared to PC and console gaming.
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And yet, mobile games are leading the board as the most lucrative means of gaming, and big companies have taken notice.
There is a rising trend of console games creating a mobile alternative, where players can play on a mobile or tablet just as feverishly as they play on the PC, such as Grand Theft Auto and Call of Duty.
Alongside it is a trend of original indie developer games being released onto the mobile with great acclaim, such as games like That Dragon, Cancer, and others. Meanwhile, Netflix, of all people announced last year that they were getting into gaming. But not console gaming, not PC gaming, but mobile gaming. Since their announcement, they have released a variety of games with wildly mixed reception depending on the game, but their insistence on getting into the genre proves how lucrative mobile gaming is.
A mobile game takes less time and energy to make, and yet is bringing in more money. It is a market ripe for the taking.
Cryptocurrency
Cryptocurrency is very slowly inching its way mainstream. There is a lot of it that is still elusive to the public, and since it involves money, something that is scarce right now with the rising cost of living, a lot of people aren’t willing to go near it yet.
What is needed, in that case, is widespread information, and the first step of that is regulation. Regulation will give cryptocurrency validation, that the average Joe can trust the currency enough to make an investment. So, it’s good news then that Washington has stepped into the crypto market, looking to set regulations to avoid scammers and maintain healthy innovation.
To add to the promising idea of cryptocurrency, massive countries are starting to adopt it as their national currency. China and India have both banned crypto as a means of paving the way for their own national digital currency.
With more regulation, the less tech-savvy business owners will feel safe investing in this digital currency, leading to more people being educated on crypto and even more investments. Before you know it, you could be buying a pint of milk with your Dogecoin – or any other coin you’re interested in. Take a look at trading with Bybit to see what’s out there and how you could profit from the first new asset class in over a century.
Virtual Reality
VR has a lot of different ways it can expand. It’s more of a platform for innovation than it is an innovation in itself, though an innovation it is.
There aren’t just gamers and Zuckerberg excited about VR. A lot of industries are using it as a means of training staff. Employees with potentially dangerous jobs, like engineering or work in a dangerous environment like an oil rig, can train on VR and gain some hands-on experience. It has particularly become popular amongst surgeons, who don’t need to use cadavers and instead can gain some surgical experience in VR without risking a life.
Meanwhile, the tourism industry is allowing people to see parts of the globe they otherwise wouldn’t be able to get to or enticing new travelers to their country. There are a lot of ways VR can be used, prime for you to step in with your idea.
Smart Tech
Smart tech, or Self-Monitoring Analysis and Reporting Technology is a gadget defined by its ability to analyze the situation it’s in and present a solution, usually through a personal assistant or a smartphone. This creates an interconnected environment where your phone is the command center for a whole host of gadgets, including the TV, thermostat, security camera, kettle, fridge, blinds, lights, and more.
And they’re taking off. The market loves anything that makes life easier and making something controllable from your phone is a solution to a problem that can be applied to a lot of minor problems.
However, these problems aren’t so minor to those with mobility issues and suddenly a market opens up where people need these conveniences rather than simply want them. The disabled can live more independently, knowing that they can tell the blinds to open, the kettle will already be boiling with a timer, the TV will turn on, and the dishwasher will start.
This, coupled with the fact that the cost of living is going up and people are watching their energy usage, means there is a lot of space for more smart solutions to everyday problems, where the average homeowner will want them all.
As the use of these items expands and knowledge of who they can help becomes more known, there will be a high demand for something like a fridge that will dispense water at the command of your phone.
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