Which businesses will succeed in the future?

Businesses with the most growth potential and success in the future will be those that solve problems sustainably and affordably while making the most of cutting edge technologies. Some of the fields we can expect to prosper in the coming decade include:

  1. Outsourcing

As work environments continue to evolve, outsourcing won’t go away any time soon. The outsourcing of customer service duties and creative works will continue to grow.

  1. Internet of Things (IoT)

As life becomes increasingly automated and more activities shift online, there will be no shortage of business opportunities involving mobile apps, e-commerce and smart building technologies.

  1. 3D Printing

The 3D printing industry has revolutionised prototype manufacturing and is becoming quite lucrative. The demand is expected to grow in the coming years, making this a field worth considering for entrepreneurship.

  1. Real Estate

As long as people need housing, there will be a demand for real estate services. While people worldwide are forced to migrate to urban areas to find work, urbanisation will continue to increase and so will the demand for housing.

  1. Consumer Goods and Services

Experts predict the middle-class segment will grow to 3 billion by 2030. This translates to a greater demand for goods and services and a plethora of opportunities to set up businesses in this sector.

  1. Healthcare

The development of preventative medicines will quickly increase, while personalised services will replace general healthcare practices. As the population increases, so will the demand for healthcare services.

  1. Collaborative Economy Business

Businesses based on collaborative economy models are expected to thrive in the coming years. Some examples are Uber, Lyft and AirBnB. These models help both the customer and service provider. The success of such businesses depends on sound planning and investment.

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