Do you know that there are around 295,200,000 companies in the world!!!
And if we talk about the startups then this quote is perfect ‘startups are everywhere’ and the number is increasing at a faster pace than ever.
Building a sustainable business in this era tales more than a good idea, an unbeatable business strategy.
If we talk about numbers approximately 472 million entrepreneurs worldwide, 305 million total startups annually and 1.35 million tech startups are there till now.
Yeah!! The latest and trending technologies can become your perfect friend to lift up the standard of your business in this world of competition.
So, thrive up your business by summing these technologies into your business strategy model:
Merge these magical words and make Virtual the Reality: Virtual Reality and Augmented Reality
I hope you are aware of the game Pokemon Go which is a fine example of Augmented Reality and Google Glasses or Oculus Rift which refers to Virtual Reality. Yes, the AR and VR technologies are not only constrained in the gaming world.
They are now transforming every field of the market be it healthcare, gaming or real estate.
Implementing AR and VR is not restricted only to play. These tools are magnifying all aspects of business, from raising the capabilities of the workforce to the customer experience and many more
With these emerging technologies, companies can take advantage of classic experiences and groundbreaking tech apps that will intensify their business in every way.
Being an early adopter of these technologies will surely take you to the heights of success.
According to the market survey, the market size of AR and VR from 2016 to 2021 will reach 215 billion U.S dollars.
Let me explain to you how these latest trends can take you up with an example of a small business success story:
Have you heard about Lenskart, the largest online eyewear in India? The company is funded by IDG Venture and in the last 3 years raised its profit by 300%.
The daily sale of this company maps as 5000 spectacles. This makes it one of the top eyewear firms and the turning point for this company was when it adopted 3D to try.
This technology is the finest example of Virtual Reality into the business.
From flame to fire: Blockchain everywhere
The blockchain is at the boom in the market right now. When you hear about blockchain what hits in your mind? Bitcoin? Secure transactions?
But it is more than what you think. You just know the 1/4th about it, the rest is underwater.
At present, blockchain is helping to reshape industries in various domains such as finance, healthcare, government, and manufacturing. But it doesn’t end here, the technology will continue to evolve and be used in more innovative ways.
It is forecasted that in upcoming years Blockchain will cover every sector of the market.
Blockchain offers you to transact very smoothly, efficiently, securely and almost every industry contains payment options.
For startups, the problem of raising funds is pervasive. This technology somehow helps you to overcome this issue and let you enjoy your business’s accelerated growth. It also provides you access to the needed funds which facilitate the speedy execution of your solutions.
The privacy and strict adherence ensures security and helps you to make the process seamless as possible.
According to the survey, the market for Blockchain will reach 2.3 billion U.S dollars by 2021.
Let your system be intelligent: Enter into the world of Artificial Intelligence
Whether you are aware of it or not, AI plays a massive role in your day to day life.
AI is all around us!!
Chatbots are the finest example of AI technology which is widely used in the market now. This software communicates with humans through text messages, answers their questions and even performs the action when asked to.
It is an excellent usage of AI for great customer engagement and enables 24*7 customer support.
From chasing down costs and improving customer focus to include AI in products and services, AI technologies will continue to gain importance in stimulating future growth and competitive position.
Evolution of AI is no doubt a transformation, from Siri to auto-driving cars, it appears to replicate human nature, intellect, and behavior. AI technologies can deliver solutions that infer customer loyalty, engagement, consumption and satisfaction.
It’s just a matter of time, soon companies worldwide and all sectors will realize the potential of AI.
It is estimated that the next big trend in the market will be AI, as it will cover 75% of the market.
According to the survey, AI will reach $16 billion by 2025.
Get everything on your screen: Mobile Apps
Today, Mobile comes under a basic and important requirement. Do you know that there are 4.93 billion people in the world who use a mobile phone!! In this world of mobility, mobile applications are playing a vital role in business.
Mobile apps are for the ease of customers. It provides you access to the services in a go. If you have small business still you need to get a mobile app for your services.
It gives you a larger customer base as well as a workforce relying on the convenience of access on-demand to information and solutions.
Usually, people spend 80% of their time on mobile phones. So, no matter what your business is, a mobile app can help you get and retain customers.
By adding the mobile app to your business technique not only your business will have benefits, but your customers will also appreciate the ease of doing business with you.
It is estimated that by the year 2020, the revenue through mobile apps will reach to 188.9 billion U.S. dollars.
Mobile apps have been always the center of innovation. While wearable apps have already started increasing influence across the globe. Tech titans like Google have started encouraging the adoption of wearable apps. With smartphones being the most widely used device on the planet, mobile app development would unquestionably reach the heights in the upcoming years.
The choice you make today is going to set the foundation for the future of your business. It’s up to you to decide whether you would like to be one of the first. Now, you can create your choice of mobile app for your business with the help of top mobile app development company.
Talk to the world personally- Video Interaction
Due to the tough competition in the market, many businesses find it difficult to come up with business strategies that can boost their market share or their presence in the market.
Truth is the video is already a big thing and if you haven’t welcomed it yet then you are seriously lagging behind.
In a recent survey, it is noted that 82% of people prefer live video over other types of social posts.
Now, you can create your own video with some editing platforms, allowing you to stand out from your competitors who haven’t evolved into the video while staying within your budget.
It also helps in finding the customer queries that consumers are likely to have about the company’s products.
- It will raise customer engagement
- Will improve your Brand’s image
Passive consumption is now a thing of the past. We are racing towards interactivity at a breakneck pace. Interactive videos will be your secret weapon towards the competition of the market.
Adopting the latest trends in technology will give your business the advantages needed to effectively innovate and stay ahead of the game.
Small-scale businesses are able to be more agile and effective, the credit goes to technology across a wide range of industries.
Knowing what’s up and coming will allow your business to use the latest technology trends to succeed in an increasingly competitive space.
Keep these trends in mind and you will receive the reward of staying on the top of the trends.