Future Business Ideas – Which are incredible business opportunities for the 2024-2034 (next decade) and beyond?
You must be keen to know about new opportunities and future business trends before they pass by. To help you, I have shortlisted 22 Future Business Ideas of next decade. These business ideas are shortlisted based on earning potential, increasing popularity usage, and impact on the quality of life.
22 Future Business Ideas 2024 and beyond
#1 Fitness Technology
Fitness Technology is the most promising and evergreen future business idea. The market for fitness technology is growing rapidly. More and more people are making use of fitness gadgets and apps for tracking fitness. Fitness technology is advancing every day. Few examples where the future lies are –
- Fitness Trackers with built-in sensors and heart rate monitor
- Smart Scales for tracking weight reduction including activities
- Smart Gym Equipment’s
- App and devices for improving sleep
- Mirror with Augmented reality to become virtual exercise class
- Connected device for monitoring & recording health parameters
There are many upcoming products in fitness technology. You can either start trading fitness tech products or develop your unique product.
#2 Robotics & Automation
Robotics & Automation is the next big thing for the future. The readymade machine will be programmed to do the work of manpower. Robots will become part of our life. In many countries, robots are already being adopted for doing a fixed set of work. Alexa bot is one such example that learns and does some work as personal assistance.
Once robotics automation starts in full swing people may lose their jobs. But on the other hand, it will lead to a very good business opportunity for entrepreneurs. There are endless business opportunities. Few of them are –
- Develop Robot in Cleaning, construction, entertainment
- Programming of robots as per requirements
- Robot Repair & maintenance
#3 360 Degree Photo & Video
360 Degree in Photography & Videography is an upcoming business. It is an unexplored area with a lot of potential. 360 Degree Photograph is a video is taken by a special camera with multiple lenses or with multiple cameras. 360 Degree photos and videos are very useful as it gives a complete view of the place along with all object details. It has many applications in the business. You can use it for event planning, real estate, landscape designing, gaming, and entertainment. A few examples of business in this area would be –
- Selling of specialized camera and video equipment
- 360-degree photography and videography
- Repair and maintenance of cameras and equipment
- Digital image mixing and video making
#4 Micro Mobility
Micro Mobility is a new word for many of us. Micro Mobility means the use of lightweight vehicles operating at a lower speed for commutation. As we are aware that we are facing a lot of issues due to traffic. One of the solutions to growing traffic is Micro Mobility. In micro-mobility e-bikes, electrical scooters, skateboards, electrical pedal bicycles are used. It is a future for urban transportation. The business opportunities associated with Micro Mobility are given below.
- Micro Mobility Rental Business
- Micro Mobility vehicle development and sell
- App and platform development for sharing Micro-Mobility vehicle
- GPS based tracking of Micro Mobility vehicle
#5 Space Tourism
Space Tourism is one of the best future business ideas. Space Tourism means human space travel for recreational purposes. In countries like USA space tourism is already started. Only limited tourists are allowed for this. This business requires a lot of technical expertise. The business opportunities in space tourism are –
- Manufacturing of Space Shuttle
- Selling and manufacturing Fuel related to space equipment
- Risk assessment Insurance related work
#6 Electrical car
Electrical Car is about to become a reality. It will open up new business options for many. It is expected that an electric car will become the default vehicle of the future. The main reasons are longevity and environmental sustainability. Once the electrical car is launched we will have many new business opportunities. Examples are –
- Electrical Car Service Garage
- Charging station setup
- Spare Parts Manufacturing/sell
- Battery Swap and scrapping
#7 Car Charging Station
I believe that an electric car will be the default vehicle in the future. Once Electrical Car is launched it requires car charging stations. A charging station is a place where an electric car battery can be charged. The lack of a charging station will create a problem. In the future, we will see a charging station instead of a petrol pump and gas station.
Starting a charging station business is a very good business option. You can establish a car charging station in the limited cities and expand gradually.
#8 Cyber Security
Cyber Security is an evergreen field. Cyber Security is also known as information security. It is the practice of securing computers, servers, networks, and personal devices from hacking and malicious viruses. The malicious attacks are growing. You need an established process and security infrastructure is required to withstand growing attacks. Few new business ideas in the cybersecurity field are –
- Information security consultant
- Security Infrastructure deployment and maintenance
- IT Security Solutions design and sell
#9 Home Automation IoT
Home Automation is the future. All homes will be internet-connected and all home appliances will be operated remotely in the future. It requires the conversion of home appliances with IoT enablement. It also requires the integration & programming of all devices in a single place. The business ideas in the home automation area are –
- Converting traditional equipment in IoT enabled devices
- Selling complete home automation solution
- Repair maintenance of Home Automation IoT devices
#10 Home Solar Energy Setup
Solar Energy is a clean energy source. Solar power generation technology is advancing and getting better. Solar energy is becoming a choice for everyone due to tax breaks and savings of money. Once the solar panel setup is done you need not worry about the electricity bill.
Under Home Solar Energy setup you need to sell and install solar panels in the individual’s home. Once the setup is completed you can take the AMC contract.
#11 Virtual Medical Appointment
A virtual medical appointment is the next future business idea. People are not preferring to visit a doctor due to COVID-19. This gives birth to a new business option virtual medical appointments. You need to develop a reliable, interactive, and affordable online medical appointment and consultation system. It is one of the promising business ideas for the future.
#12 Cryobank and Stem Cell
Cryobank and Stem cell bank is an evergreen and upcoming business. Cryobank & stem cells collect human tissue for future usage. It includes donor sperm, eggs, umbilical cord, etc. It is an expensive affair to start Cryobank and Stem cells. If you have competency and money you should start cryobank. It is a promising business option.
#13 Virtual Call Center
Virtual Call Center is next on the list of future business ideas. The days are gone to establish a physical call center. A virtual call center is a call center where geographically dispersed teamwork is a single organization. It is a very good arrangement where cost can be saved. This business can be started from Home. However, you need to take care of time and resource management.
A wearable is the next technology. People have started using a wearable. For many people, it has become a status symbol. Wearables have various applications and they can collect user health data including heart rate, calories burned, blood pressure, time spent on exercising, etc. There are many other applications under development which include measuring blood alcohol content, monitoring sickness, health risk assessment, forecasting mood changes and stress levels. Few upcoming business ideas in wearable are –
- Selling wearable
- Developing new wearable with a unique application
- Repair of wearable
Chatbots are computer programs to simulate conversations with the user via messaging or voice commands. Chatbots are used for customer support, lead generation as well as issue resolution. The usage of Chatbots is growing. People prefer to talk with an application instead of a human. It saves time and adds value to the business. If you have the technical expertise you can develop customized chatbots and sell them in the market.
#16 VR Technology Business
VR means virtual reality. Virtual Reality is a computer technology that generates a simulated environment. It is used to get a virtual experience on screen. It gives a 3D and immersed experience. VR can be applied in various industries such as medical, real estate, defense, manufacturing, etc. The business suggested in this area would be selling VR equipment & designing systems for VR.
#17 Artificial Intelligence in Lead Generation
Artificial Intelligence is a future technology. You can use Artificial Intelligence for various industrial applications. One of the very good business options in the usage of AI is lead generation. You can use lead generation for understanding and predicting consumer behavior. You can convert more leads into a sale by using AI. AI can also be used for building a customer pipeline.
#18 BioFuel production
BioFuel is a future product. Biofuel is produced using biomass using chemical reactions. BioFuel is sustainable fuel. BioFuel can be used in the vehicle as bio-diesel as well as in industrial applications. BioFuel Production is a promising business option. If you have the expertise you can start a biofuel production business.
#19 Vertical Farming
Vertical Farming is next on the list of future businesses. It is an evergreen business. Due to a lack of space and an increase in population, it becomes essential to produce more crops. Vertical farming is one of the ways to address the same. Instead of growing crops on a flat surface, farmers can grow them on a vertical surface. Many cities have started using this technology. Additionally, vertical gardening is also another related field with a lot of potential.
#20 Food Vending
A Food Vending machine is used for the automatic dispensing of food based on swiping a card or inputting money. The food could be snacks, beverages, chips, etc. This concept is very common in western countries. However, it is at the preliminary stage in many countries. In a food vending business you need to manufacture or sell food vending machines.
#21 Online Gaming
Online Gaming is the most promising and among the best future business ideas. People are crazy about online gaming. As per the estimate, the online gaming industry is growing at @22% every year. There are more than 35% of online gamers across the world and the count of online gamers is growing every day.
The online gaming business is one of the lucrative business options. You can make a lot of money via online gaming. You can make your games. Alternatively, you can make sell games online as well as work as an affiliate marketer also.
#22 Co-working space
Co-working space culture is an upcoming trend. This is mainly due to changes in working culture and an increase in the rental cost of properties. New startup companies & SMEs are opting for co-working spaces for offices, especially in the metro cities. The main idea is to reduce rental expenses and share knowledge and expertise.
If you have free commercial space or if you can afford to invest in commercial properties, you can build co-working space business. It is the fastest-growing futuristic business in foreign countries as well as India.
All future business options are given on the list are with a lot of potential. Some of the business ideas may sound unrealistic as of now but you can’t ignore them as time will show the future of these businesses. You should invest your time, energy, and money in these business ideas to make your future secure.
The list is endless it can go further also. However, I have included the best future business ideas for the next decade 2022-2032. These ideas are country independent you can adopt these ideas in any country like India, USA, UK, Canada, Australia, Japan, and the Middle East.
If you have any suggestions, you can drop them in the Facebook comment section on our page.