Tech Business Ideas – Technology is touching human life every day. At every point in time, we are surrounded by technology. Technology is used to improve people life and solve business problems. Technology is ruling the world and will continue to do so in times to come. You might have observed that six out of the Top 10 richest people in the world are Tech Entrepreneurs. So it makes sense for an aspiring entrepreneur to look at Technology Business Ideas while starting a business.
To help you in starting own technology business here is a list of 10 Tech Business Ideas. All these technology business ideas are high potential, easy to start and require moderate investment. For example, if you are going to be running your business from home initially, you may wish to look into things like the various tv and internet packages out there to ensure that you will be connected and available at all times during your working day. You should have the technical expertise and competent team to start and run these businesses.
10 Tech Business Ideas with High Potential
#1 Software Development Services
Software Development Company works as a business partner and helps customers in software design and development. It is a very big field requires several people with knowledge of software development. Some of the most popular languages/platforms used nowadays are ASP.NET, PHP, and Android. In addition to programming knowledge, it is mandatory to get database-related knowledge for the development of software. It is an evergreen business with a lot of business potential. You require moderate investment to start your own software development company.
#2 Cloud Hosting Services
Cloud hosting service providers offers storage space and hosting services to customers over the Internet. A cloud hosting service enables organizations to efficiently manage their IT infrastructure by accessing computing power, storage, and other resources on demand.
To save IT capital costs most of the small and medium organizations go for a revenue-based model of hosting services. In this business, you need to establish a data center with redundant power and cooling solutions. You will need a team of IT people to manage IT Infrastructure. The investment required for this business is very high.
#3 Big Data Analytics
Data Analytics and Visualization are important for making a quick business decision. Data Analytics companies design and provide a dashboard to the business. You can design your analytic platform or use Power BI to design various dashboards required by the customer. It is a future business with a lot of business potential.
#4 Digital Manufacturing
Digital Manufacturing is an integrated approach to manufacturing by embracing digital technologies. All machinery in digital manufacturing will be smart, connected and controlled via computers. Digital manufacturing helps in enhancing productivity and saving cost. This concept is suitable for serialized production. This business requires a very good understanding of manufacturing, IT and sensor networks.
#5 Internet of Things (IoT)
The Internet of Things (IoT) is a future technology where all machinery and devices will be connected and talking to each other. There are three different areas where IoT business can be started. The first area is converting (IoTizing) old legacy machines into a smart connected machine. The second area is manufacturing your IoT product and third is import-export of IoT products.
#6 Digital Marketing Services
We are moving towards a digital economy where digital brand presence is becoming mandatory. Digital marketing service company helps customers in deciding and implementing the right digital marketing solution. The digital marketing solution revolves around search engine marketing, e-commerce marketing, e-mail marketing, and social media optimization. You require domain experts to start and run digital marketing services.
#7 Digital Consultancy
The world is moving towards digital and many companies are looking for a digital partner who can help them in defining and implementing a digital strategy. Apart from defining strategy digital consultants also help in implementing digital solutions. You require a lot of knowledge and experience to start your digital consultancy firm.
#8 Chatbot Creator
Chatbots use AI to communicate with people to automate tasks. The basic idea behind a chatbot is to reduce cost and improve service level and user experience. Many service-based companies offering service online are looking for Chatbot solutions. As a chatbot creator company, you need to create various Chatbots as per customer requirements. You can sell chatbot as a product or as a service.
#9 AI Services
AI stands for Artificial Intelligence. It is one of the most promising technologies nowadays. This technology empowers computers to replicate human intelligence into machines. AI can be used with virtual reality to create realistic simulations. AI and VR are widely used for business as well as the gaming industry. You can start your own business of offering AI services to customers and earn a lot of money.
#10 Robotics Process Automation
Robotic process automation is used to eliminate repetitive processes by machine learning or by using human instruction programs. RPA also uses Artificial Intelligence to complete the operation. As an RPA company, you can design your RPA platform. Alternatively, you can help companies to design and deploy RPA solutions.
Over to you
All technology business ideas mentioned above require technical knowledge and a deep understanding of business processes. You should gain technical expertise and experience before starting any of the tech businesses.
The business ideas mentioned above carry huge potential. You can even create disruptive innovation by using high-tech technologies and business ideas mentioned above.
