Technology has always had an impact on how we conduct business, interact, and go about our daily lives. That effect may never have been as strong as it has been in the past couple of years.
Technology started to provide answers to many challenging concerns as we all tried to manage a worldwide pandemic and its ramifications. Many of us were able to work remotely and keep in touch with individuals who were important to us. It kept us updated and helped us progress.
As a result, numerous technology areas experienced substantial growth. Some of these technologies were already becoming more prevalent, while the epidemic eliminated others.
For people looking to start a career in technology or simply change their area, this opened up a lot of opportunities. Thus, we are here to represent the top 7 tech verticals by capital invested globally.
Retail Health and Wellness Tech
The retail health and wellness tech sector is anticipated to benefit the most from the epidemic. It consists of:
- Online health
- Digital and mobile health
- Biometric clothing and equipment
- Nutritional supplements
- Personalized medicine and OMICS
Companies should invest in app development and revise their market estimations and market size estimates. Applications for physical activity, mental wellness, and retail health and wellness technology are all in high demand right now.
Technology in healthcare has countless applications. Healthcare technology is being used in everything from administrative procedures to more thorough and precise diagnoses.
This signifies an effort to increase business efficiency and make the patient experience as comfortable as possible. There are numerous advantages that healthcare technology trends bring to medicine. Those include programs that assist in recognizing potential health dangers and looking at digital data from test results and problem lists.
Cybersecurity
Since our world is going more digital, cybersecurity has become a growing concern. Since everything we do today is digital and online, any clever thief would refocus their efforts.
This explains why innovations like Blockchain have gained so much traction. The growth of remote work has increased the significance of cybersecurity.
Even though some businesses had robust protection in place, others were vulnerable once their staff left the network. This was exploited by cybercriminals, and as a result, many organizations realized the value of it.
Foodtech
Governments all across the world have ordered the closure of restaurants and consumer quarantining, which has significantly increased demand for grocery and meal delivery. After the COVID-19 problem, this demand might ease off a bit, but it is still anticipated to be significant.
FinTech
Since the beginning of 2020, financial technology has become incredibly profitable. $44 billion was invested in the sector globally, with the US accounting for half of that amount. This represented a 14% global rise over investments made in 2019, and a roughly 30% increase for the US.
This field of technology covers a number of things, including as banking, wealth management, and payment services. But it also includes cryptocurrency and Bitcoin, which were hot topics of discussion last year.
Even though there are significant participants in the sector, a lot of small- to medium-sized businesses are entering it and expanding quickly. Many will shortly be traded publicly.
Mobility Tech
This industry includes businesses that offer technology and services that are upending the shipping, but not the drop shipping, automotive, and transportation sectors, probably suffer the most.
Many autonomous vehicle manufacturers have stopped testing. Alongside that ridesharing services on some apps have witnessed a steep decline or perhaps been completely stopped. All of this has an additional impact on this vertical’s funding opportunities.
Workplace Technologies
An further effect of remote work was higher spending on office tools like Microsoft Teams and Zoom. As many people prefer to continue working remotely, long after the pandemic has ended, this trend does not appear to be slowing down.
Any industry’s business operations now require the use of workplace technologies. They can:
- Eliminate information silos by establishing a platform for all internal data and communication
- Boost business effectiveness
- Ensure that a company is culturally relevant
- Provide more exact and accurate data and digital marketing strategy to assist executives in making strategic decisions
- Promote collaboration across teams and boost creativity and output
IoT
The COVID-19 crisis’s effects on the IoT field significantly depend on how the technology is actually put to use. For instance, as industrial firms cut their IoT-related costs, widespread industrial IoT adoption is predicted to slow down.
However, it’s anticipated that demand for IoT-related services in areas like connected healthcare, which allows for remote patient monitoring, will expand in the coming quarters.
Wrapping Up
Which technological trends are most important to businesses and executives as the pace of everything digital continues to increase?
The most cutting-edge, hippest technologies might not be represented by these trends. However, they are the ones generating the most patent applications and attracting the most venture capital. Check these 7 tech verticals by capital invested globally and you might get an idea of starting a new business.
