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As the world around us keeps changing, with it comes unforeseen problems that need innovative modern solutions. Companies that come up with solutions that embrace and adapt to changing times are the ones that flourish and are worth investing in. Here are five fast-rising spaces for entrepreneurism and investment.
1. Education Technology
Education technology, or EdTech, is one of the fastest-growing industries globally. Grand View Research pointed out that the industry was worth approximately $89.49 billion in 2020 and is estimated to grow by 19.9% from 2021 to 2028. As education for all levels are transitioning from the classroom to an online forum, education entrepreneurs see this transformation as an opportunity to help improve the system, as well as make money.
Many organizations across the U.S are investing heavily in new technologies to make education easier for both teachers and students. While the industry may still be in its infant stage, there seems to be a lot of talk about further innovation and expansion.
2. Next-Gen NRT
Nicotine patches and gum are old, stale products and somewhat ‘un-cool’, whilst nicotine pouches are on the rise as appealing alternatives, making for a budding industry with significant growth potential. These nicotine replacement therapy (NRT) products are worth taking a deeper look into. A breakdown of the industry on Prilla points out that nicotine pouch sales in the U.S. reached about $216.89 million in 2020. The rise in popularity reflected extremely satisfied customers. Factors that stand out are the different flavors the pouches come in, such as mint or coffee, as well as a variety of nicotine strengths.
Other users appreciate the fact that these next-gen NRT products are not obvious when used, so they don’t feel the unwanted social stigma from blowing smoke. With about 57.3 million people using nicotine in the U.S. every day, this market is something to keep an eye out for.
Winning prizes is fun and crypto is seen as trendy, so the combination of the two is the next big thing in the world of cryptocurrency. GameFi is a new concept in cryptocurrency where players can trade, lend, or rent out their winnings or even borrow against them.
This sector is called blockchain gaming and is a space where players earn tokens in a game and the value of the tokens increase as the game gains popularity. It has already attracted over 6500 investors during the first few days of its launch. Based on the last decade’s growth of crypto, NFT and blockchain, this market has great potential for growth and development.
4. Non-Alcoholic Beer
Many times, social situations call for drinking — and no one wants to feel like an outsider standing there with a bottle of water. Therefore, many people opt for non-alcoholic beer to fit in with the crowd and still stay sober. In an article by Paste Magazine, non-alcoholic beer increased 38% in 2020, which is about $188 million, in total sales. As a result, big companies like Heineken and Brooklyn Brewery joined in on the movement and began brewing non-alcoholic beer. This cultural cache is a rising fad, especially with Millennials and Gen Z consuming less alcohol, showing that this market is certainly one to watch.
5. Patient-Monitoring Devices
Tele-consultations for healthcare are the new norm, and this has sparked a rising demand for remote patient monitoring devices. With these advanced technologies, doctors can monitor their patient’s health in real-time from anywhere. These solutions are ingenious, and investors wasted no time in showing support. According to Globe Newswire, the telehealth market was estimated to be worth $40.3 billion in 2020 and is projected to reach $224.8 billion by 2030. This market is obviously growing and is a great opportunity for any entrepreneur.
Opportunities for investments are always around us. If you do your due diligence and thorough research, there are companies out there that are worth the risk and investment. We’ve identified five opportunities for growth, and while exact predictions are impossible, if you can anticipate possibilities, you can jump on the wagon and cash in.