Although many start-ups may be small, they often have one advantage over their larger competitors; innovation and inclusion in changing market conditions. Radical changes in the start-up ecosystem occurred in 2018.
Not surprisingly, the implementation of new technologies has driven many of those changes and start-up trends. In 2018, there were digital business plans in place for 95 percent of startups. Contrary to just 38 percent of traditional businesses, 55 percent of start-ups had already implemented a digital business strategy.
Naturally, in most industries, the technology itself is not the key disrupter. For example, several large companies have significant investments in artificial intelligence.
Rather, it’s how this innovation is implemented that turns upside down entire industries.
You’ll need to reflect on 5 start-up trends if you want to make an impact in 2019:
1. Artificial Intelligence
AI isn’t a theory anymore. AI will control a significant percentage of companies in 2020. It’s everywhere–in your analytics, marketing tools, channels for customer service, digital ads, and mobile.
Many people who are using AI consciously don’t even know they’re using it. That’s because AI isn’t what we once expected to look like. It works to make processes more effective, quicker, and accurate in the background. An AI can do various things that would normally require human intelligence, such as recognition of patterns, decision-making, and creative efforts.
Machine learning is not actually the same as artificial intelligence. Machine learning refers to algorithms that improve their performance as they are exposed to more information.
Startups finding AI applications will be successful in 2020, as will companies bringing AI study to new heights.
2. Remote Work
Remote work seems to be the solution for any geographically isolated start-up, and why not? There are almost no operating costs associated with the occupation of corporate real estates such as leases, mortgages and security deposits.
Remote teams also benefit from a more extensive and diverse pool of applicants as they can extend their search for qualified applicants beyond their physical location. Employees can incorporate work into their lifestyles and not necessarily the other way around, and this will certainly help increase employee happiness and reduce attrition.
A recent study of 8,000 global employees and employers reveals that many businesses are in agreement–3 out of 4 organizations are already implementing a remote model of work. But is remote work the next best thing in startup culture, and if so, the best move for your company is working remotely?
Certainly, the remote work phenomenon is expected to continue to grow alongside technological advances that make it easier for team members to communicate and work together from around the world.
The business should tap into this trend to gain a competitive advantage to help inspire staff and benefit from the international talent pool. You will be well-positioned to make this phenomenon work to the benefit of your company by structuring the remote work cycle!
3. Big Data Analytics
Big Data is a structured way of keeping knowledge on a vast scale, thus allowing startups to store all the important data in one place. More than half of the world’s companies are using Big Data, and by 2020, the size of Big Data will rise to 44 trillion gigabytes. Therefore, in order for Startups not to fall behind the trend, they need to include Big Data for sustained growth in their process.
Big Data Analytics will serve as your eyes and ears to the outside industry as it will keep you in charge of everything, allowing the Company to respond seamlessly to the situation.
Big Data’s most important effect on a company is its ability to churn out data in a higher proportion and rate by which it does it. It has all the ingredients to highlight the product’s not-so-known potential so that your Startup can actively work in that direction to get the best out of that quality. Coupled with the Internet of Things (IoT), Big Data will have a significant impact on all and many more business-related technology sectors. With high-quality data analytics at their fingertips, companies will take advantage of any potential growth opportunities that come their way.
Big Data is and will be a decisive factor in shaping the future of any international start-up. And as we know, the use of big data is not only limited to the market leaders, but also to the emerging start-ups. Knowledge is the most treasured possession that a startup can have on its journey, and indeed, Big Data will be the suitable ally in making the journey worthwhile and successful.
4. The Internet of Things
The Internet of Things (IoT), the revolutionary slogan for almost every business sector, can be called the new moneymaker in 2019 and years to come. That’s because IoT is creating a new revolution in which growing needs for a connected device environment from two viewpoints–one from comfort and the other from technology–are becoming important.
By the year 2021, the worldwide market share of this technology would add up to a whopping $1.13 Tn and that’s certainly a massive figure. With the growth of this technology over the past two years, every company has realized that it is real potential. Because of this, we could see a lot of IoT Technology-driven companies popping up.
By 2021, with a CAGR rate of 13 percent, the US will account for 24.2 percent of global market share in this technology.
Europe will have a market share of 20.3% at a 17% CAGR rate.
The Asia Pacific region with a 12.3 percent CAGR pace will account for 38.9 percent of the global market share.
Japan will have a market share of 9 percent and a CAGR pace of 16.7 percent.
IoT systems running any company usually consist of four key components–
So, what’s your major takeaway going to be?
In the next few years, IoT will spread into every major industry segment.
We will see significant segments of the industry becoming innovative dependent on IoT and solving users’ daily problems. Technology must rapidly consume industry with such massive spending in different regions of the world.
5. Voice Recognition Technology
If you are rubbing shoulders in the crowd of startups, you are likely to hear more and more often the word ‘ voice search.’ The truth is, this kind of search has arrived–and it’s bigger than many previously discovered forms of searching.
On the question of why this form of search is warm, we may conclude that recognition of voice is improving the technology. On another note, it is a customer-centered technology that has grown in popularity terms as a result.
For people on the go, its use cases are easy to use, fast and safer, in line with our fast-paced lifestyle. In 2020, customers will search for Google using their voices, and startups will adapt to these changes.
As a startup developer, you need to search the horizon for new app development solution in service, technology and finance to give your company the best chance of success. Understanding what’s going on right now and what things are likely to change in the future will help you run your company. You’re going to be better positioned to run a business that benefits from favorable trends.