In 2021, business boomed in these 5 Industries

For most of these industries, technological innovations have been influential in business progression

In 2021, Business boomed in these 5 industries

Every year there are certain industries that see more rapid growth than others. Nowadays, the technological innovations we have access to make it easier for online businesses to move forward.

While the list is long, in this article we point out a few of the top sectors that managed to secure higher revenue numbers, enlarge their target audiences, and increase their overall market influence this year thanks to modern technology.

E-commerce

It’s no secret that the e-commerce industry is one of the world’s leading sectors, but in 2021 the market saw an exponential growth in revenue, and with a current CAGR of 6.53% worldwide, the industry’s global future is bright.

Not only does e-commerce dramatically reduce operation costs for retailers, but it provides customers with a much easier way of shopping that is becoming increasingly prioritized in the modern world.

The leading e-commerce movers and shakers such as Amazon (which actually started out as an online bookstore), Walmart, and Alibaba are always upping the ante with quality selections and great customer service experiences.

As virtual consumers continue to invest in these companies and their products, the monetary benefits for the industry are far-reaching.

iGaming

Another industry that has flourished this year is iGaming, or those businesses that operate online casinos, platforms for skill-based games like poker, and sports betting sites.

One of the biggest reasons for their growth lies in the invaluable convenience factor that each platform provides. Instead of traveling to a land-based casino establishment, players can click a few buttons on their PC, mobile, or tablet device and enter a gaming universe filled with all their favorite casino games and themed slot titles.

Additionally, because variants of nearly every game are also available, there is no shortage of options.

For example, popular table games like roulette often come in versions that differ slightly from the classic French 'little wheel'. In the same way, sports fans enjoy great variety in betting options, with wagers available on live events, game outcomes, and much more. With all these exciting remote entertainment opportunities, it’s no wonder the industry is a multi-billion-dollar machine.

Edtech

Companies in the Edtech industry are doing quite well of late, as their services are being used by learners and teachers all around the world.

The U.S. market, for example, is predicted to reach approximately $218 billion by 2027, with a future that is forecast to include more innovations and enhanced user experiences.

The benefits of Edtech are plentiful, from broadening the tools available to educational professionals, to improving students’ technological aptitude, creativity, and overall learning experience.

Not to mention Edtech has managed to greatly boost levels of engagement among learners and save teachers time when it comes to lesson planning and facilitating testing.

Telehealth

In the same way that education is enhanced with tech tools, so is healthcare. Nowadays, both patients and medical practitioners are enjoying the remote services that the industry is continously churning out. For example, in today’s highly digitisied world, it isn’t uncommon to visit with your doctor through your mobile screen, receive diagnosis and treatment plans by e-mail, and plan future checkups with the help of an online calendar. The accessibility of consultations has made patients actually want to see their doctor more, which can only be a good thing for health monitoring.

Cybersecurity services are needed to provide a layer of defense for online businesses worldwide

Cybersecurity

Because each of the above industries rely so heavily on technology, it makes sense that the cybersecurity industry, not to be confused with information security, is also growing as a result.

Cybersecurity firms help to keep their client’s networks and devices safe from unwanted hacks, breaches, and malware attacks, among a wide variety of other tasks. As tech innovations continue, cybersecurity solutions will always be needed to provide businesses with digital defense mechanisms.

After all, one of the biggest consequences of cyber-attacks is loss in revenue and customer engagement which happens almost instantly.

Therefore, whether big or small, most businesses are investing heavily in cybersecurity solutions in one way or another.

#FeatureByIBusMedia

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke