One of today’s most profitable ventures is developing new tech. For newcomers, we list the top startup business ideas you can explore in 2022.
In the United States, the expected economic output of the tech industry is estimated to be $1.8 trillion. This number represents 9% of the entire national economy. Evidently so, this is an impact of the 500,000+ tech business establishments in the country that grows 5% yearly.
The tech market rapidly grows as each unicorn launches into the market, and that impacts it! With vast opportunities for business and disruption, strong-willed entrepreneurs test the tides as they build solutions to solve problems. And each solution starts with an idea.
In this entry, we will narrow down the top startup business ideas showing vast profitability in today’s industry landscape.
Top 15 Startup Business Ideas 2022
As previously mentioned, there are many options that your tech startup can explore in various industries. Here are our top 15 tech business ideas to consider this year and beyond.
1. Web design
If there is one tech business idea that will never become obsolete, it is web design and development. This activity includes UI/UX design, copywriting, SEO optimization, and graphic design.
Since many other businesses require professional websites, the opportunities for web design and development continue to sprout.
2. Artificial Intelligence
AI deals with the technology that computers and machines operate under to perform tasks that would otherwise require human intelligence. This domain covers other computer science disciplines, such as machine learning, data analytics, and deep learning.
Businesses can leverage AI to provide services that would make processes in many industries easier. This roaring trend is a good wave for businesses to ride and seek opportunities.
3. Extended Reality
To its core, Extended Reality (ER) covers both augmented reality (AR) and virtual reality (VR). This emerging tech allows opportunities for extended and virtual reality experiences used in multiple industries.
For example, the real estate industry utilizes ER in virtual tours for units or properties for their potential customers. This experience provides life-like images, and sometimes interactions, of their products to avoid actual site visits, saving time and cost.
4. Internet of Things
Another tech trend continuing to disrupt many industries is the Internet of Things (IoT). This technology deals with objects with sensory and processing abilities that communicate with other objects through the Internet.
With its powerful capabilities, IoT can help facilitate communications for multiple machines, sensors, and tools. For example, a factory tracks its inventory by using scanners on products to trigger appropriate notifications or actions.
Customers play an integral role in gaining profit. So, businesses are making efforts to build even better customer relationships and experiences.
Findstack found that the use of CRM is not slowing down in the coming years. They discovered in 2020 that the global CRM market would be valued at up to $52.64 billion. The pandemic even brought more emphasis to the need of having a customer relationship management system. In this sense, customer relationship and experience management software systems are gaining traction in the market.
Since 2020, there has been a recorded amount of 2.05 billion people who shop online, with 75% shopping at least once a month. That is more than a quarter of the entire global population.
We could attribute this feat to the rising number of businesses that also sell their products online. In this context, building e-commerce sites or platforms where sellers and buyers transact is more than just a viable idea. With e-commerce site frameworks like Shopify, it’s easier than ever to build online store platforms.
As e-commerce only continues to grow, and thereby more and more people are transacting online daily. Innovations modeled around fintech are positioned for intense growth. Fintech is a term that refers to software applications built to automate and digitize traditional ways of finance management.
For example, people use e-wallets to handle their online transactions. These e-wallets also have the capability to cash in from other accounts and perform fund transfers. Even more, most e-wallets nowadays have adopted cryptocurrency.
New market opportunities also mean new risks to counter. This challenge makes cybersecurity a top priority for many tech startups.
As a service provider, you can build cybersecurity solutions to address the biggest software security threats that loom around the interwebs. It could be in the form of antivirus software or SaaS that focuses on data protection and breach prevention.
9. Cloud-based services
Many industries are now adopting daily tasks through the internet, and it has skyrocketed to heights never before imagined. As a result, there is ongoing growth in cloud computing which fosters Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) products. These types of services cultivate new startup business ideas that technopreneurs can explore.
10. Mobile Apps
Currently, there are more than 6 billion mobile phone users globally. This gargantuan number is the primary reason the mobile app industry is thriving. Android still leads as the most used mobile OS, with iOS taking second place.
With these figures in mobile device usage, you can build mobile-friendly versions of your products or services. This startup business idea grants your customers or clients more accessibility to your business offers.
Speaking of making your products more accessible to your customers, one way to do that is to develop Chatbots. Chatbots use the power of artificial intelligence, deep learning, and natural language processing to respond to various customer queries online.
This service type allows your customers to ask FAQs and receive support 24/7.
12. Food tech
For the following items, we will explore startup business ideas applicable in other industries outside software development. To start, food tech startups are rising in number. And there are various ways to do this. Here are some examples:
- Build an online platform to market or sell your food products
- Create software applications that could track one person’s daily calorie intake
- Build a food delivery service for restaurants in your locality
- Provide an inventory and supply chain software service for restaurants and cafes
13. Fitness tech
Like the food tech industry, fitness apps are also taking over the market. From calorie trackers to workout instructions, today’s digital natives depend on apps to monitor their health and wellness.
14. Streaming service
Today, streaming services like Netflix and Disney+ have become behemoths in this lane. However, it would be wise to pick up this tech business idea and start with more niche content. In that way, it is easier to capture a market and begin disrupting from there.
15. Educational service
During the peak of the COVID-19 pandemic, schools began using online classrooms to facilitate daily academic activities. This also rippled a trend for different kinds of classrooms to transpire online. Some examples include training, conferences, live events, and even fitness classes.
Turn Your Idea into a Reality!
Found something worth trying? Or do you have an idea that’s keeping you up at night? Why not start turning that idea into a reality?
In this tech-driven world, technology is leading the way. It could be intimidating at first when you decide to launch your startup. But don’t fret; all you need to do is start right. That means having a solid idea with market potential and a dependable tech team.
Unfortunately, the software development talent pool in the United States is experiencing a shortage in supply. There are simply too many job seats but too little talent to fill them.
Luckily, one low-risk trend in tech startups is partnering with offshore software development companies like Full Scale.
Build a Software Development Team with Full Scale
In terms of offshore software development, Full Scale has got you covered! We are a software development company from Kansas City. Our offshore arm is in the Philippines, where there is a vast pool of incredibly talented tech experts.
Our entire talent roster goes through a meticulous recruitment process to ensure we only hire the creme de la creme. We qualify the developers through interviews, technical tests, background checks, and skills assessments.
Besides our software developers, we also provide services in project management, QA testing, and digital marketing.