5 New Billion-Dollar Opportunities in industries You Can Leverage Now
The advancement in technology in 2023, signals that more industries will generate billions of dollars by providing cutting-edge solutions to human challenges. These industries are inventing creative solutions and making life easy for humans across the world.
As technological solutions continue to advance, entrepreneurs are seeking billion-dollar industries, that will not just provide solutions for the world but will generate significant wealth for them. In this article, we will give you 5 new billion-dollar industries you can leverage now. Let’s dive in:
The COVID-19 pandemic which shook the economy of nations around the world, made them see the need to have a developed healthcare system. According to the International Finance Corporation (IFC), the size of Africa’s 21 billion healthcare market could double in a decade. You can invest in telemedicine, which facilitates the treatment of patients at their homes, without visiting the hospital. Telemedicine provides excellent healthcare accessibility to remote areas which are devoid of such facilities. So invest in it. We’ve had cases of missing files in hospitals and scenarios where the wrong results were given to patients you can design a solution that will solve the challenges.
According to the Group Next Move Strategy Consulting, the renewable market will reach over two trillion U.S. dollars by 2030. This projected market growth is attributed to environmental concerns regarding fossil fuels, rapid urbanization, and economic growth in emerging regions. As these concerns continue to soar, entrepreneurs can leverage this industry by developing renewable energy solutions or creating renewable energy infrastructure.
Like Elon Musk Tesla and SolarCity, you can get involved in the bottle and battery recycling. You can also go into battery waste collection or battery/bottle waste sorting and processing. If you don’t want to go that way can get involved in the distribution and export services. Investing in small startups that process renewable solutions can be a great way to benefit from this billion-dollar industry.
Software as a Service (SaaS)
This industry is generating billions for entrepreneurs. Developers can now create any SaaS product or design a website using Bubble or Flutterflow. For Bubble, founders can use the Customize UX feature to build a logic that gives users the best experience. Also, you can connect with any API using their no-code API connector and scale your app as your user base grows.
Furthermore, developers in Bubble’s plug-in marketplace can find a solution to any business problem, or create their own plugin for the no-code community. For Flutterflow, you can easily create beautiful mobile apps with the help of a drag-and-drop interface. Also, you can quickly and easily create custom app designs without having to write any code.
Dropshipping allows you to sell products online without having to own or operate the physical location where those products are stored and processed. This is another industry to explore because e-commerce sales are expected to reach $6.3 trillion worldwide in 2023. To get started with dropshipping, you will need to identify a niche, by conducting competitive research. After that choose a dropshipping supplier, build an e-commerce store and get your finances in order.
Closely related to dropshipping is Print-on-demand. All you need do is identify a niche of interest, decide what you want to sell, create designs, pick an e-commerce marketplace(Shopify, Etsy, eBay, or create your own platform. Having done this, pick a reliable supplier that will be able to fulfil all incoming orders, set a price and market your products.
The global e-learning market is projected to reach a total market size of $319.167 billion in 2025. This is because the internet is a catalyst for skill acquisition and global learning. Platforms like Coursera and Udemy are e-learning platforms that experienced spontaneous growth within a limited period. Also, Edutech provides learning solutions and services for academic institutions, companies and the government.
As individuals continue to skill up, platforms like these will continue to make billions of dollars. You can invest in this industry by exploring online learning solutions, tools and technology services for primary, secondary and corporate institutions.
Before entering any of these industries, it is important to analyse the market trends and understand your target audience. You will also need extensive research, resources, and hard work to achieve success.
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