Venturing into a tech business is about one of the best investment to your financial security and sustainability for an ever dynamic world and unstable economy like ours.
In 2019, according to statistics from CompTIA, the estimated economic output of the technology industry was $1.8 trillion, comprising over 10% of the national economy, What’s more, the average successful startup exit (via either acquisition or IPO) has sat at $242.9 million since 2007.
Though, this is not to blur the sad reality that there are many startup businesses even in the tech fields that couldn’t survive past 24 months but the goodnews and courage is that ten of thousands more are also presently available today, which had previously succeeded and currently standing.
Yes, some of which have in the shortest time possible amassed a lot of wealth, expanded and built more businesses at new locations. Now, that is the hope of many techpreneur and achieving this comes as we may know, comes with it a substantial sacrifice, dedication, doggedness and hard work.
Here, are means to reduce the frustration of watching your tech business sitting on the bench for too long. A strong tech idea and strategy is the first approach to moving into the limelight.
What are tech business ideas for startup?
Tech startup ideas refer to businesses that are tech inclined and operated on a digital platform. This includes the products and services offered are all technology based. They also involve innovations, researches, development and distribution of digital goods, example include: Web designs, app creations etc.
29 Profitable Tech Business Ideas for Startups
#1. Web design
Website designing is an evergreen tech business idea that anyone can venture into, and earn an incredible lot in a space as short as 3 months, for one who is just getting started with learning web designing skills. But, less than that for one who already have a professional knowledge on how to design a website for a business.
Though, web designing require a range of different services and skills particularly, programming, graphic and interface design, UX design, and Technical SEO knowledge.
Web designing is utilized today by almost all businesses both already made businesses and startups, every business needs an online presence to make even more profit and stay ahead of their competitors learning the nitty-gritty of staying literally on top of their customers preference.
According to IBISWorld, the web design business has grown at a rate of 6.6% over the last five years, and generated $38 billion in revenue in 2019. This means choosing this as your tech startup idea, will keep you on the market for a long time.
#2. Content Creators
For every website and digital presence a content is needed to function properly and the website considered valid. Therefore, since it is an important part for businesses’ to grow and gain new customers as well as maintain existing customers.
Content creators are highly on demand, to come up with creative text, video and animated contents to help promote a business marketing plans. This is a valid field that if ventured into and properly grounded on its intricacies will stay valid for as long as they are humans that read and products or services by businesses that needs to be sold.
“Businesses today have accounts on all different social media channels like Instagram, Facebook, TikTok etc. All of these channels require different approaches to content planning, content production and account management and analytics,” says Myrk.
#3. SEO Consultant
SEO (Search Engine Optimization) is a main tool and traffic source for most businesses who need an everyday digital transaction. This is because they need to stay on top of SERPs to gain visibility.
These companies will constantly need someone who is skilled in search engine optimization, to help them and pay very attractive amounts for their services.
Another, good part of this tech business is that it can be comfortably done remotely. Yes, you can work from anywhere and still get paid by the organizations who hired you. Though, you will need to implement an SEO strategy that keep the companies ranking high for their niches and it cost nothing to start up than having sufficient SEO knowledge and how to apply them.
#4. Food Tech
Needless to ask if you have heard of KFC, Beyond Meat, Mcbite, PizzaInn etc. All these are example of food tech companies who make millions of dollar just selling their goods and services to the public. They are trusted brands and have become an household name, you too can start a similar food tech business.
Food is an ever consuming commodity for all living beings and even more interesting many people do not know how to make some type of meals and would gladly patronize a decent preparation of such delicacy. Those who may know how to might be too occupied with work etc., to have time to fix them.
Here again, is your market, do you have high culinary skills on certain type of dishes, depending on your locality inter-continental cuisines might be an added advantage. All you need do is “START” with small quantities. Make highly observed hygienic pictures of your personally cooked meals and upload them to your websites, creatively explaining the procedures and how to order including the nutritional value of these meals.
Your success story begins with one satisfied customer after another, brand, rebrand and learn new strategies to expand your service audience, get registered and have a license for trust, and yes food tech grows just as quickly as the world’s population.”
#5. Artificial Intelligence
The term “Artificial Intelligence” is used to describe technologies that places their focus on machine learning, computer visuals, natural language processing and more. It has been around for a while and it becomes increasingly advanced on a daily basis, this makes its market potential to grow too. Statista reports that the industry grew by 154% in 2019 alone—making it a great tech sector to build a business around.
#6. Podcasting
Podcast is becoming alarmingly popular from a few hundreds to a whooping million and counting. Everyday people are gradually going live, voice recording or video recording something about their business, social lives and any topic of interest that appeals to the masses, and gaining numerous subscribers to relatable contents as well as downloads. Today, 51% of the U.S. population has listened to a podcast, and podcaster Dre Baldwin says podcastings prospects can only increase in the coming years.
#7. Extended Reality
Extended reality technology marries both augmented reality simply referred to as AR, and virtual reality called VR, technologies. These two together are changing views of people, business and even learning patterns in schools. Hence, it can only be appreciated as a good tech business idea for 2023.
#8. Cybersecurity or IT consulting
Businesses today are increasingly threatened by cyberattacks, making the need for IT consultants greater than ever. As an IT consultant, you can help businesses evaluate their security systems, run tests and offer advice on how they can better protect themselves from cyberhackers.
#9. E-books Publications
An e-book is simply an electronic book that you can read by just flipping through your smartphone or personal computer. If you are a writer, you should harness this power since there is a growing market for ebooks. Many people find it flexible and convenient than the traditional books.
Businesses are creating e-books as a way to market their brand, and aspiring authors of fiction and nonfiction publish e-books as a means to reach more readers across the world. In 2019, Statista reported that the revenue generated from e-books topped $1.3 billion, and that number will rise to $1.6 billion by 2024.
#10. Fitness Tech
Technology has applications in nearly every industry — including the fitness industry. We’ve already seen new technologies like FitBit, Strava etc., change how people exercise, and more innovation is on the horizon. “Fitness technology is an area of continued growth.
Whether it is creating products like fitness trackers, wireless earbuds or smartwatches that have multiple functions, the market is constantly seeking new gear and technology,” Weitz says. “This niche is expanding from tangible fitness products to the apps and data that marry the physical and digital together.
Combine a high-tech device with an app related to exercise or diet and you will be setting yourself up for success in 2023 and beyond.”
#11. CXM (Customer Experience Management)
Customer experience management, or (CXM) assist customers through the introduction of stratified plans that enable multi-disciplined approach to guarantee customers satisfaction.
A CXM has the ability to merge conveniently all the components of marketing and customer services into a single unit and yet still delivers priority to customers needs and satisfaction. This is a simplified business format that can serve any company, and you an asset to these businesses once you understand how it works.
#12. Digital Business Analysts
They organizations to make the right choices by providing an independent and objective mind set and applying a range of proven analysis techniques to make a convincing business case for investment in a digital solution.
As digital transformation is central to all organizations in the digital economy, digital business analysis skills have become the hottest skills to have on your CV in the 21st Century.
Digital Business Analysts are at the epicenter of digital transformation projects. They help organizations develop a digital ecosystem of technologies that will help drive digital transformation and business growth.
#13. Influencer Marketing
Influencer marketing is an industry enabled by social media platforms like Instagram involving endorsements and product placements from individuals or organizations who possess a certain level of expertise or social influence in their respective fields.
While not just anyone can be an influencer, if you possess some level of unique knowledge or a lot of charisma, you can launch a business by gathering a social media following and hiring an influencer marketing agency to connect you with brands.
#14. Social Media Consultant
Social media had long gone beyond personal pleasure or pictures and video uploads, today is a huge mart for businesses, products are shared via jpeg formats, png, video clips etc and the increasing audience shown by number of likes, shares, retweets, comments, clicks and comments shows how many people get to know about that business.
As a social media marketer, you may need to consult with companies and help them manage their social profiles, often times they advertise such vacancies which you can conveniently jump on and market their products with across the web helping them build their brand.
An added advantage is that, it cost almost absolutely nothing to be a social media marketer and you can work from your home as long as your social media skills are top notch and you keep up with the latest trends and platforms.
#15. Robotics
Robotics is a bit of a catch-all term that encompasses mechanical engineering, electronic engineering, information engineering, computer science and other related disciplines. The goal of robotics is to create machines that can move and react to sensory input. According to Statista, this industry is expected to grow from $80 billion in annual revenue in 2019 to over $200 billion in annual revenue by 2025.
#16. Streaming Service
Services like Netflix and Disney+ get most of the attention when it comes to streaming services, but there is plenty of opportunity to start a streaming service for more niche content. For example, you can create a streaming service where users can upload instructional videos or a streaming service designed specifically for children’s content.
The global outlook on the streaming service industry is overwhelmingly positive. In 2019, streaming services generated $25 billion in revenue. By 2025, that number is expected to rise to $30 billion, according to Statista.
#17. E-commerce
E-commerce is another technology that has been around for a while, but still has growth potential. Over the last year, Statista reports that e-commerce sales grew from $500 billion to nearly $550 billion.
If you have a unique idea for an e-commerce store, you can launch your own e-commerce business from the comfort of your home. No product in mind? Not to worry; dropshipping allows you to start an e-commerce business with products you are not responsible for warehousing or shipping.
#18. Antivirus Developer
An antivirus developer is a highly specific sort of tech business idea that pertains to the creation of antivirus software that can help businesses protect critical data. Antivirus software can be created using a variety of different programming languages.
The overall goal of an antivirus is to detect and remove malware before it impacts a computer’s systems. Start networking with local businesses in your area to find out if there’s a need for this service.
#19. Affiliate Marketer
Affiliate marketer is an advertising model in which a company pays others (e.g., bloggers) to advertise their products and services and generate sales. Affiliates place ads or market the products or services on their website, app, or blog.
#20. Portable Charging Devices
Mobile devices go with us everywhere nowadays, but having your phone battery die on you while you’re out is still a far too common problem. That’s what’s driving the growth of the portable phone charging industry.
According to data published by BCC Research, the portable charging device market is expected to grow by 6.6% year over year from 2017 to 2022. Growth is driven by the fact that many newer phone models have lower battery capacity.
#21. Data Science and Data Analyst
Companies gather huge amounts of data that can be immensely valuable to them making them in constant need of a data analyst who can help make sense of it all at short notice and high speed. In addition to Data Scientists being an excellent career path in this digital age, the demand far outweighs supply, making Data analysts highly employable and very well paid.
A recent McKinsey report showed that “The United States alone faces a shortage of 140,000 to 190,000 people with analytical expertise and 1.5 million managers with skills to make decisions based on the analysis of big data.” So, picture that with the need of Data analysts on a world scale.
#22. Online Teaching
Do you know a foreign language? Can you build a treehouse? Do you cook really good soup? Then you can make money sharing your knowledge and expertise online.
If you’re a good teacher and know how to market your class, you can earn a livable wage by teaching your skills to others through the internet.
#23. 3D Printing
3D printing is an exciting technology developed during the 2010s, which allows and it allow users to build a three-dimensional object from a computer-aided design model.
#24. Cryptocurrency Trading
Cryptocurrency Trading has for a while now been standing and has faced many dynamics, above all owners of crypto assets have seen transformed financial experience in spite the setbacks. Today, cryptocurrency have been legalized by some countries as a valid means of exchange.
This is a tech business that you can venture in but with awareness that it could get rough sometimes. Besides, many people have realized the importance of owning crypto assets and wants to learn, this is another opportunity where you can render your expertise in the field and earn additionally while still trading the crypto market.
#25. Mobile Application Development
From the way technology is going every business might soon need their own mobile app. This presents an exciting opportunity for individuals skilled in app development.
Successful companies like Braze and Leanplum have built their entire business around developing apps for others. There is really an endless supply of app ideas. There were 194 billion app downloads in 2018 alone, and that number is only expected to climb. So strike while the iron is hot.
#26. Domain Name Broker
Being a domain name broker is similar to being a stockbroker, except instead of stocks, you sell domain names. To get started you need a little capital to buy some domain names.
You’ll then need to educate yourself so that you’ll be able to predict domain name requirements in the future.
So like most of the businesses on this list, it will take some work to get started. But everyone needs a domain name, so there will always be a market for this service.
#27. Drone Videography
If you own a drone and know how to use a camera, there’s a market for your services. Commercial and residential real estate agents are increasingly using aerial shots as a way to market their buildings and property.
You can find real estate agents in your area using platforms like Zillow. Then reach out and offer up your services. Other industries, such as agriculture, events and more have uses for drones, as well.
#28. Startup Incubator
Another way to get involved in the tech world without having a lot of technical experience is to create your own startup incubator. The job of an incubator is to help startups plan and launch their business successfully. Services provided may include management training, office space and mentorship opportunities.
#29. Venture Capitalist
A vast majority of tech startups are backed by venture funding. If you have an interest in the tech space, but don’t have any technical knowledge yourself, you can try raising some money and becoming a venture capitalist or angel investor.
Similar to being an influencer, a venture capitalist isn’t something you can simply become overnight. That’s because being a venture capitalist requires allowing others to trust you with their money.
Final thoughts
Now that you know the most profitable tech business ideas for startups, I hope you can choose one and scale your way to success. We will keep updating this page, so feel free to back more often to see what’s new.
