Any startup has a lot to do with its industry. An industry can have a safe and adverse impact on its startup. Today, only one startup out of a hundred is successful. The rest of the others fall sharply for some reason. You will get to see a plethora of industries in India and many other countries. According to the market, all industries rise and fall. Demand and supply have a significant role to play in market uncertainties. Many people today want to know about the best industries for this year. So in this article, I will tell you about the top 10 booming industries for startups in 2020.
Top 10 Booming Industries For Startups In 2020
1. Bottled Water
The business of selling water in bottles is quite old. But by 2020, it is one of the most discussed trends. Nowadays, this business is growing like wildfire in the largest cities of India. Getting clean water has been negligible at these places. Because of this, the demand for bottled water is increasing.
2. Self Improvement
Nowadays, this business is showing its strength because people feel very stressed. A person living a modern lifestyle has to deal with many issues. No matter how much money you earn, self-improvement will always be a concern for you. In the future, the industry will continue to grow.
In the software industry, demand has been in place since earlier times. People do jobs, and their companies need software. This year, the demand in the software industry has increased very rapidly. But this demand has increased only for some software. The other software tools are following the same pace.
The medical sector has seen a rapid boom this year. The demand for medicines has increased, and we have never seen such a rise in previous years. The truth is that this field can never see a decline. There are very few chances that we will see even a slight fall in this field.
5. Nutrition And Well Being
This industry is somewhat different from the medical field. The demand for nutrition and good health increased dramatically as the health concerns arose this year. Yoga and meditation also come in this field. The industry is hoped to boom in the coming years as we all will face new diseases in the future.
Education is an ever-green field, which has grown a lot this year. People love to learn about current issues and tech trends on the internet. Instead of going through the traditional book, they all love to download ebooks. With that trend on the rise, the education sector will also grow in the future.
7. Home Organizing
Everyone loves to organize the place where he or she lives. Home organizing includes all the interior designing, exterior designing in several formats. Gone are the days when people love to reside in old fashioned houses. Today, the home organizing industry is growing, and that too at a quick pace.
8. Personal Finance
Money has always been a human need. Nowadays, to fulfill every demand, we need money. The requirement for personal finance has also increased because people live a lot more sophisticated life. Also, due to the increase in demand for startup funding, this industry is growing very fast.
9. App Development
App development is a significant part of the software industry, but it is still a little different. People are getting attracted towards apps as smartphones have taken over this world. Now everyone spends most of the time in apps. Therefore, the demand for app development is increasing.
The internet industry is growing very fast. This industry is such that it has never seen a decline. All internet companies in India have shown their best performance in just a few years. If people want to progress, they will have to connect to the online world. This industry will also grow in the future.
This world faces recession from time to time. Some industries fall, while others arise. We have seen this happening from time to time. In this article, we have focused on the top 10 booming industries that can prove beneficial for your startup. After doing more research on these areas, you can now kickstart your project. These industries are going to spread rapidly. Your success depends on entering at the right time in the right field. The industries that have seen a significant drop this year are the hotel and travel industry. Apart from these, the food processing industry has also slipped from its way. But, we can expect that these industries will slowly recover in the next few years. Finally, I would like to say that you should start your business with the right decision so that you see excellent results in the next coming years.