Explosive Markets For 2008 And Beyond
Being an entrepreneur, I am on the constant prowl for new opportunities and growing markets. Below is a list of the industries that I believe will explode within the next 3 years.
High Tech Ordering - Pizza companies have been doing this for a few years now but I’ve recently seen it in many restaurants, for reservations, delivery, or vending machines.
Social Network Widgets - Facebook has them, you see them on MySpace, download them with your iPhone. With the explosion of Social Networks during the past couple of years, many networks are allowing outside developers to create tools for existing websites. This benefits Social Networks since widgets offer more interaction and keep users on the site longer and benefits the outside developers by giving them instant access to millions of users. This one is huge in my opinion.
Online TV/Video - This market has been growing steeply since 2006. I believe it will continue to grow and morph until giants like Bright House and Cox offer TV over broadband.
Customized Services - This includes catering to a specific need or demographic. For instance, I have recently seen ads for fitness training specifically designed for children or senior citizens. In the city I live in, there is a place where you can go and they will get your exact foot measurements and perform statistical tests on you to see what kind of athletic shoes you need to wear. I also read an article about UJeans, a company that makes custom fit-to-order jeans. This industry will spread like a virus.
Niche Consulting - With all the gadgets and technologies in the market today, businesses are being created by people possessing specialized knowledge in something. This can even include retail stores like Best Buy and Dick’s Sporting Goods hiring people with specialized knowledge for specific departments. Some of the consulting niches that I have seen recently include, College Planning Consulting, Smart Phone Seminars, Technology Consulting, and Cooking Consulting.
Eco-Everything - From grocery bags to invoice paper to car washes to clothing (and more clothing), everything is going green. Within the next few years the federal government will start heavily regulating businesses green practices. Many heavily populated states, such as California, have already started regulating this industry and offering tax breaks to companies that go above and beyond the requirements. Since a large portion of innovation comes from California, I believe others will follow suit.
If you can think of any other industries that I missed, please feel free to add them in the comments.
-E
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