Newer technologies are coming up, and their market sizes are increasing steadily. Many dreams of building software, and translating it into a business. Gone are the days of a boom in social media services and Instant Messaging.
Such fields are saturated and should be best left to the already existing giants. Newer trends are coming up, and now is the best time to take a look. Do you want to build a piece of software? Here are some categories to consider:
We’re seeing chatbots almost everywhere now. Messaging apps are at the top of the list. Granted, the first chatbot was created way back in 1994, but it is just recently that the chatbot market began to rise, as enterprises began to realize their interacting capabilities and the ability to boost B2C services, marketing, and sales. Voice virtual assistants are increasing in demand.
According to studies, 80% of businesses intend to employ some sort of chatbots in their businesses by 2020. The chatbot market is expected to rise to 1.23 billion by 2025. That’s big business and it is worth the investment. Chatbots are the future, and if you want to make money, get involved.
Nowadays, everything is getting streamed. Music is streamed on platforms like Spotify. The Amazon-owned platform, Twitch is a popular place to stream video games. Facebook Live supports streaming too. Coders are now even live streaming while they code. The buzz about streaming is something so recent, and it is at a rise. We need more streaming platforms.
Building streaming software is guaranteed to make you money, as long as it is unique and brings something new to the table. The streaming market was worth about $30 billion in 2016. By 2024, it is expected to grow to $123 billion. If you want of share of such billions, consider building a streaming service while the trend is still booming.
Progressive Web Apps (PWAs)
Progressive web apps are cross-platform software, which are built like websites but mean to work like mobile applications. They are progressive, fresh, responsive, linkable, lighter and installable. What makes them so impressive is that one PWA can be built to work on numerous browsers and platforms.
The market size for individual app development and websites is already very huge. The ability to mix both of this into one is, therefore, more lucrative, as one capture a bigger part of the market.
Also, Read: 3 Top Tech Skills in High Demand That Can Change the Future
Virtual Reality (VR) and Augmented Reality (AR)
VR has been around for quite some time. Since the 1950s. Mass commercialization of VR began in the recent years, as the technology improved and became more affordable. Same can be said about AR. Predictions have already been made, and the VR and AR market is forecasted to hit $162 as soon as 2021.
Other trends have been excluded