In 2018, the hottest emerging industries for startups and entrepreneurs would be cryptocurrency, cannabis, VR and “alternative travel”.
This was revealed in a research report prepared by online graphic design marketplace 99designs and was released this week.
The conclusion by 99designs was arrived at through a thorough comparison and analysis of the design projects that were launched on the site by the close of 2017 and those that were launched about four and two years ago. 99designgs is the world’s largest on-demand design marketplace.
“Escapism seems to be a central theme running through the types of businesses that have skyrocketed on our platform in the past two years,” noted 99designs CMO Pamela Webber. “In what many have seen as a tough year for natural disasters, tragedies and political strife, it may not come as a surprise that businesses offering consumers a break from daily life… or even a financial ‘plan B’ seem to be thriving.”
The trends for the four industries that are identified be the hottest going into 2018 were detailed in the report.
In the cryptocurrency businesses, bitcoin has been instrumental is creating an awareness about the virtual currency industry and attracting a lot of attention to this segment in general. The huge coverage that bitcoin has received in the last one year in the media is responsible for this. Here has been a 458 per cent increase in the number of projects in 2017 for projects that had the term “cryptocurrency” compared to 2016 and a whopping 821 per cent increase compared to the number more than 4 years ago.
The good news in the cannabis businesses is that marijuana is now legal in more than half of U.S. states irrespective of whether it is used for medical or recreational purposes. This has led to the creation of an industry that virtually has more or less “sprouted” overnight. The website saw a 55 per cent increase in projects that had terms “cannabis” or “marijuana” in the title compared to 2016 and an 833 per cent increase for the same since 2013.
There were many new players who entered the market of virtual reality and in 2018, this industry would become more a “reality” than “virtual”. There had been a 38 per cent increase in projects that had terms “augmented reality” or “virtual reality” compared to 2016 and a 514 per cent increase for the same since 2013.
The alternative travel businesses would also be a favorite for startups in 2018, according to the report. These would include services like boutique hotels, voluntourism, RVs, Airbnb rentals, etc. the 99desing report claims that there had been a 27 per cent increase in projects that had terms “boutique hotel”, “Airbnb”, “van rental” and “camper van” in the title in 2017 compared to the last two years compared and a 211 per cent increase for the same since 2013.
(Adapted form PRNewswire.com)