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Top 6 Tech Business Ideas for 2022

Man’s desire to know everything, disrupt the world and make life simpler has put him on the quest to observe and document new events. These observations are analyzed, and later, when scientific principles are applied to them, they give birth to innovation hence a new technology.

The idea behind a new technology can be found in either of the two ways:

  1. Identifying a problem and developing a solution for it, OR
  2. Reinventing existing technology to be more effective and efficient.

And in the 21st century, new startups are emerging every day, changing the way we live, transact and interreact with each other. As the American writer Stewart Brand said, “Once a new technology rolls over you, if you’re not part of a steamroller, you are part of the road.” Find that business that can give you a head start in the competitive yet lucrative tech space.

TECH BUSINESS IDEAS:

1. WEB AND MOBILE APPLICATION DEVELOPMENT

If you’ve ever noticed, every product or service we are using is possibly having a website or a mobile application. It not only helps in marketing but also helps the customers have a higher level of satisfaction. Hence every business is looking forward to having a well-crafted and user-friendly online presence.

An online presence can be gained through having a website or a mobile application, or both.

How to turn this into business?

  1. You can create applications or websites for other businesses and charge a fee for development and maintenance.
  2. If you have a unique idea, you can create an application for it, turning it into a startup for yourself.

Business prospects:

  1. It requires low investment.
  2. It has high growth potential.

2. E-COMMERCE

Recent covid19 pandemic has highlighted the importance of online business with brick-and-mortar or ecommerce business and how easy we can shop while sitting comfortably in our room. 

How to turn this into business?

  1. Create a platform where sellers can upload their products and services and list them for sale.
  2. You create an online shop (website) or sell your products or services through existing tech giants like Amazon, eBay, AliExpress, etc.
  3. Dropshipping business

Business prospects:

  1. It requires low investment.
  2. It has high growth potential.

3. 3-D PRINTING

3-D printing, also known as Additive Manufacturing (AM), is a process that creates three-dimensional objects by depositing materials in layers. With its increasing recognition, this technology is now being used from building houses to human organs. Its demand is set to grow exponentially, and you can turn it into a lucrative business.

How to turn this into business?

  1. You can own a 3-D printer, take orders for clients and print the desired product or part, i.e., offer customized 3-D printing.
  2. Sell pre-made 3-D prints on eCommerce stores.
  3. Start a 3-D printing course
  4. Sell 3-D printers.
  5. Rent your 3-D printer

Business prospects:

  1. It requires heavy investment. 
  2. It has a very high growth potential.

4. EXTENDED REALITY

Extended reality (ER) comprises of both Augmented Reality (AR) and Virtual reality (VR) technologies. This industry sees no sign of slowing down, and according to Statista, it is expected to grow from $6.2 billion in 2019 to $16 billion by 2022. From healthcare to fashion, workforce development to manufacturing, almost every industry is influenced by its increasing adoption. 

How to turn this into business?

  1. You can partner with gaming and real estate companies as these are some of the clients facing industries that are adopting VR into their business.
  2. Developing education and training stages
  3. Product design and product assembly- Help companies design their product through VR technology

Business prospects:

  1. It requires heavy business financing.
  2. It has high growth potential.

5. DRONE SERVICES

Drones have started to become famous, and they provide a lot more utility than it seems. If you own a drone and know how to use a camera, there’s a very lucrative market for you. Its services extend from commercial to residential industries, agriculture to recreational, etc.

How to turn this into business?

  1. Offer professional aerial surveying and inspection services

    Drone surveys are popularly used by roofing and construction companies as it helps in saving cost and time compared to traditional scaffolding.

    Inspecting a remote substation, electrical lines, complex structures, weak buildings is hazardous and expensive. Drones are more suitable for this job.

  2. Wedding videography and photography
  3. Selling aerial photos and footage
  4. Drone deliveries and precision agriculture
  5. Private investigation and video monitoring services
  6. Drone racing 
  7. Renting your drone
  8. Selling drones

Business prospects:

  1. It requires low investment.
  2. It has high growth potential.

6. CYBERSECURITY AND IT CONSULTING

We live in a fast-moving environment where only we are responsible for keeping ourselves safe. And with the internet engulfing everything in its way, protecting ourselves from cyber-attacks, unauthorized exploitation, digital theft, etc., has become more critical than ever.

New products and applications are made daily to keep our system, networks, device, and data safe. If you understand IT, you can tap into this profitable market.

How to turn this into business?

  1. Be an independent consultant or a security auditor. You can evaluate a business security system and offer advice on how they can better protect themselves.
  2. Develop a new product to make the lives of homeowners easier and safe—for example, Google nest video doorbell.
  3. You can develop an antivirus or similar software to protect electronic devices and programs.
  4. Be an ethical hacker.

Business prospects:

  1. It can range from low to very high investment, depending upon the product or service you are willing to offer.
  2. It has high growth potential.

BOTTOM LINE

Man's relationship with technology isn't new, from primitive troglodytes inventing the wheel, fire, and spear to modern-day internet, decentralized technology, and electronic vehicle. Technology has evolved, and in the words of Godrey Reggio, "It's not that we use technology. We live technology."

Apart from the Tech Business Ideasmentioned above, you can work on numerous budding and lucrative business spheres, like online-educating, blogging, podcasts, SEO services, Fintech, Blockchain, etc. But in the end, everything boils down to hard work, consistency, and your will to accept the result.


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