What’s Next? 4 Startup Trends
Happy Tuesday startup world! If you’ve noticed the trend, our articles typically come out on Tuesdays. We like to miss your manic Monday mood and still deliver your week an early boost. Trends are interesting things. Those who follow trends too closely can be doomed to see-saw through life. Those who anticipate or predict trends tend to stay ahead of the curve and successfully navigate choppy future waters. Startup trends are no different.
As 2020 approaches and the world’s economies morph and change, so will the basis upon which new companies are started. Here are some startup trends to look for in the coming years.
The Continued Rise of IoT
Over 21 billion devices strong, the Internet of Things represents a massive, growing trend. A recent study revealed roughly 67% of domestic businesses currently utilize IoT in their business. Newly developed block chain infrastructure (currently utilized by Cannon companies DataGumbo and Paylight) provides reliability, security, stability, and seamless integration as it integrates with the IoT. A number of ventures have already sprung from the merger of the two. Expect more in the years to come.
Last year the number of gig workers grew by nearly 25% more than the previous year. Why? The “added flexibility of a non-traditional work style.” Whether this is true or individuals are merely responding to high-turnover in traditional job markets, this is forcing startups and larger companies alike to rely on part-term employees for more and more of their labor. Look for that trend to continue.
If you ask your friendly neighborhood goodie, a micro-moment is any moment that triggers a customer to use their mobile device on the fly. Customers have become conditioned to using their smartphones to do everything from learning new things to shopping (even when they don’t realize it). Micro-moments have accelerated the customer expectations for “right here, right now,” leading to the advent of such apps as IFTTT. 2017 saw an 80% increase in the mobile searches with the term “best,” a 35% increase in “product review” searches, and significant increase in “near me” searches. Look for micro-moments to continue to gain importance.
Internet User-Growth Slowing
Last year, 49% of the world’s population had internet access. That may seam like a lot, but user growth rate is slowing. Online users only grew 7% last year, down from the 12% growth in 2016. Smartphone users remained flat, further indicating market saturation. That may seem like a troubling statistic, but those who are online spent 5.9 hours per day on the internet in 2017, up from 5.4 hours in 2016. As internet user growth slows and existing users spend more time online, it will become increasingly important to monitor your demographic and their typical online behavior. Stay ahead of these trends and keep your startup ahead of the game.