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Table of Contents
Here’s how the various industries will change in 2020 in India:
Marketing: Digital Marketing Strategies: Google Ads, Yahoo, Bing Adwords and other search engine optimization techniques for better SERP results.
Mobile Advertising:
No ads but only mobile apps. Personalization – How you show your products to people, this is now possible with AI tools.
Ecommerce Platform:
You do not need any website and it will be one click away. There is no requirement of infrastructure nor huge investment anymore as there is cloud computing now.
Data Scientist Solutions:
People will be working remotely these days and that too they will start to work online as well. This requires access to data analytics tools.
Web Designers:
People will also start using WordPress theme builder, developers will have to keep up that as well. They will hire graphic designers, programmers to create and maintain websites.
Internet Developer Tools:
All big tech corporations like Microsoft, Facebook will invest in designing social networking websites, social network APIs, hosting, servers etc. These websites will require HTML coding knowledge, programming skills etc.
Artificial Intelligence:
Bots, machine learning, artificial intelligence will rule the world. The key factors for these changes are technological advancement, changing consumer behavior and new marketplaces.
Read more: How importance of social media marketing for business
So how does each industry change? Let me share a few examples at different levels. What may become part of your day to day life.
Let’s discuss 10 profitable upcoming business ideas in India.
Here is the list of what business is most profitable
1. Marketing
The best upcoming business is marketing, because marketing is going to take a new form. As per the above scenario, marketing experts should develop digital marketing strategies along with SEO tools and strategies as well as look for opportunities in blogging and affiliate marketing if possible.
The most important thing to remember is to understand what works for your brand and stick with it, don’t try anything else once and don’t give up easily.
2. Public relations industry (PR)
Public relations industry is just getting started and this industry is already doing wonders with its campaigns and promotional activities. Nowadays, more than ever, organizations pay attention to public relation.
And for that, they need competent media. Today, social networks are helping these companies connect directly with their audience and generate relevant leads.
Organizations that can use these social network platforms must adapt to these channels as well.
They need great awareness about them as well as great communication skills by effective PR professionals.
3. Education
SEO is getting even more popular these times, so students are taking over the job of finding suitable courses, tutorials and resources that can help them succeed in academics business and career path.
As per the latest survey, 88% of Indian students are looking for good course offerings while 72% of them believe that higher education will be the future. Hence, colleges, schools and teachers’ board are investing in teaching and developing online education.
By 2022, more than 60.6 million people will be living in cities, the majority is educated by self-learning methods. With this, education sector will see major growth.
From self-learning to formal education, there are numerous ways to go. So why are universities and colleges reluctant to push forward? Here comes technology that makes things very convenient and affordable.
Students are able to study anytime, anywhere and learn from home or from office, they can also seek expert advice and guidance from experts.
Yes, this is true. For those seeking online education from their homes, online university courses can provide the flexibility of schedule while remaining connected to your school’s system through video conferencing software.
However, it’s only beneficial to select one course as this will suit the student’s requirements. Most importantly, find the right course to fulfill your individual needs and desires.
4. Healthcare
Healthcare has evolved into something much broader and complex. It’s a combination of doctor, nurse, pharmacist, dietitian, fitness coach, therapist, psychologist and many more.
But healthcare in general is becoming much simpler and cheaper as there are advanced devices and technologies to help in treating all conditions.
According to the WHO, medical expenses accounted for 43% out of total GDP in 2015. The rising health costs are affecting personal budgets.
Hence, organizations will shift towards cost-effective strategies and ensure that patients remain healthy. That’ll eventually lead to healthier lifestyles and reduced medical expenses.
5. BFSI (Banking & Financial Sector)
BFSI is booming like never before. Banks have been increasing their number of branches across the country.
Almost all banks have ventured into online banking as well. Banking industry in the post COVID period might be quite challenging but it will still be worthwhile as the bank sector is one of the fastest growing sectors globally.
After some time, things will sort out and we can move forward. If yes, then, the financial institutions will be affected. And here’s when things will shake out.
6. Insurance
Insurance companies have been improving their product offerings. But it seems a bit more expensive now. Moreover, they are focusing on personalization. Even the name itself suggests personalized insurance products.
So now, insurance companies will start focusing more on lifestyle wellness and customer service, rather than just personal insurance policies.
7. Agriculture
The agriculture sector is also on fire nowadays. Apart from agro-companies, farmers are now looking for organic farming techniques.
The importance of soil to farm productivity has increased manifold in the past year. Farmers are increasingly targeting biodynamic agriculture, where soil is used to sustain crops on farms without relying on chemical fertilizers.
Other crops such as wheat, rice, sugarcane, paddy and cotton are being grown in large numbers. This further enhances the agricultural sector and shows that organic farming is gaining ground.
8. Transport
As per the current situation, road transport is suffering in the country. Though there are many initiatives for transportation revival, such as “Swachh Bharat Mission”, unfortunately, it is still nowhere near achieving its target in terms of traffic congestion.
Some countries have developed autonomous electric trains. Others like Norway have established an underground metro.
China did the same. At present, several nations are looking for hybrid electric trains, buses, taxis as well as vans that can carry passengers without making them sit on the tracks. On this front, international airport is having issues with airports in India.
However, commercial vehicles (commercial planes) are expected to improve a lot as countries are moving ahead to replace legacy carriers like Boeing Company, Airbus Company, General Electric Company, Toyota Group, Mitsubishi Motors Corp., United Airlines,etc.
9. Medical Devices and Equipment
Medical devices and equipment industry was another player who got impacted dramatically due to Covid-19 pandemic and lockdown restrictions in many states, especially North America and Europe regions.
First, hospital wards were full but now hospitals are gradually reducing the number of ICU beds. Hospitals will start hiring more doctors and technicians and the demand for healthcare products will increase manifold.
Also, manufacturing companies will soon invest in producing surgical masks and other protective gear, while they are thinking long term in these fields.
A few years ago, there was news of Moderna Inc. testing a vaccine in the US. Another company called Johnson and Johnson is in talks with Pfizer about production of CoronaVac.
One common topic these two firms, in recent days, is the development of vaccines and treatments for Covid-19. This will definitely play a major role in creating positive outlook on travel.
10. Travel Agencies
The tourism industry was hit hard but in the long-term, the sector will revive and travel agencies will look forward to it.
When borders reopen, there will be enough tourists coming to visit places like Goa, Kerala, Dubai, Kolkata, Jaisalmer, Rajasthan and many more places.
There will be a massive influx. Many hotels and resorts will open their doors and bookings will go up at a rapid pace.
Due to this, travel agencies will hire people to facilitate tourist arrival with low-cost facilities as well.
11. Entertainment
After the cancellation of sporting events due to Coronavirus virus outbreak, entertainment industry is trying hard to re-open sports arenas and stadiums. Especially football clubs are planning to play again.
There are plenty of upcoming and established sports arenas and stadiums in India where tournaments can take place. Such venues will certainly bring fans back to the stadium with thrill of the game and cheer him up because of his favorite teams cheering him up in a competitive atmosphere.