Remember when you used to be skeptical about online shopping? After all, we’re still weary about where we enter our credit card info. But when did the internet-of-things start taking over our lives? Many people overlook the opportunities in technology that are presented to them due to the timeliness of it all. For example, although wearable tech and the IOT are very important, things like cyber security and counter-terrorism are more likely to be funded by government funding.
So lets discuss some potential up and coming markets.
Below is a list of niche technologies that will be dictating the market for the years to come:
“Smart homes” –
Smart home devices aren’t new. However, lingering consumer-concerns about the security of IOT devices hindered the adoption of such gadgets. As consumers have more widely adopted devices, including wearables, the connected home has become less of an issue. People want everything from their cars to their blender to connect to each other and monitor efficiency in the same way it has become common to track heartbeats and steps.
Cybersecurity Services –
As the adoption of smart home technology increases, consumer concern about what happens to the data their gadgets collect grows accordingly. As soon as new security solutions emerge, hackers find ways around them. Meaning, there’s always room for innovation. The security world will continue to transition away from on-premise security appliances, which can be too complex to maintain. Instead, a movement toward cloud-centric security offerings that simplify the network-architecture will manage security across increasingly distributed and mobile enterprise. However, with the recent global cyber attacks on major corporations, it seems that this may take time to adjust. Which could be a good thing for entrepreneurs looking to get into cyber-security.
Counterterrorism Technologies –
The 9/11 terrorist attacks in New York City led to more safety and evacuation technologies. The recent terrorist attacks in Paris and San Bernardino, Calif., similarly motivate startups to provide solutions for counterterrorism activities. Governments will be looking to support technology that can protect them from such attacks and startups poised to help with security will thrive in 2016. You can already see a trend with “smart cities that are looking for command control systems” to help prevent terror attacks.
Financial Tech –
Financial tech, a.k.a. “FinTech,” startups such as peer-to-peer money transfer service Transferwise changed how people move money across borders. Entrepreneurs in isolated geographies are rapidly building cutting-edge telecommunications networks from scratch, without having to work around legacy equipment because there’s no existing service provider. The innovations we’re seeing aren’t necessarily in the creation of new tools like the smartphone, but the creation of powerful new uses and applications for these tools.
Digital health –
The year 2016 brought more services and innovations designed to improve digital health record storage and access, provide online mental healthcare services, and create or further develop health diagnostic tools.
Did we miss any prevalent niche technologies that you think will be BOOMIN’ in 2017 and years to come?