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Top Business Trends & Ideas 2020 for Startups & Budding Entrepreneurs
In this digital era, many entrepreneurs are stepping forward to start a business. But some are confused on choosing the perfect business idea. Just 10 days more to take a step into the new year. The past few years have been an awesome year for mobile applications. Today almost for everything we look for an app as they makes our job easy. Applications lets to connect with the customers instantly. This helps to find targeted customers for the business. Business models like Airbnb, Uber, Dream11, etc made use of this app technology to generate more money. For the budding entrepreneurs, mobile and webs are the perfect way to enter the market and create a niche for themselves.
Here are some of the trending and on-demand business idea which is going to boom like a volcano in the upcoming years. Continue reading to find the best business idea for you.
1. Food Delivery
It is one of the trending online business which gained a tremendous reach among people as they fulfill the daily need of an individual. Food is a very important one for everyone. Understanding the demand for food delivery among people, UberEats like food delivery services evolved and succeeded. As the revenue of the global market for online food delivery was estimated at $94 billion in the year 2019. Ans also experts predicted that in the future it is going to increase 9% per year reaching $134.5 billion in 2023. It is one of the businesses which is experiencing a boom.
2. Taxi Booking
Transportation is playing a major role in everyone’s day to day life. Everyone wants to have a safe and comfortable journey. An individual can easily start a business like UberTaxi and customize according to their needs. This taxi service industry is estimated to have a value of $183 billion as of 2019. It is also estimated to have a phenomenal growth of up to $318 billion by 2023.
3. Vacation Rental
Year by year the number of tourists is increasing. People are interested in exploring many new places. And also we all started expecting the place to stay in which the comforts like our homes. Taking this as a business concept Airbnb like business models had paved a way for entrepreneurs. As of 2017, the total revenue of Airbnb was 2.6 billion USD and expected to reach more heights.
4. On-Demand Multi-Services Application
The best example of this business is GoJek and handyman services. This is very much useful as it offers all the on-demand services in a single platform. It includes 30 + services like food delivery, taxi services, water, and flower delivery, beauty service, pet sitters, maid services, etc. One can able to earn more revenue by starting a business like gojek, as it has all the on-demand services into it. Users don’t need to install separate apps for each need.
5. Multi-Vendor E-Commerce
Everything became online nowadays even from shopping. People love to shop from sitting on their couch. This business idea allows people to purchase everything from smartphones to clothes online. Amazon-like apps took this business and succeed in life. As of 2018, the revenue of amazon is 232.9 billion USD. This is another booming business industry.
6. Fantasy Sports Application
Through the world, the love for sports among people has been increasing. Betting using the mind skills and predictions also became legal. So Dream11, the trendsetter has carved a way for entrepreneurs who love to start a fantasy sports app/web. Dream11 is the first Indian fantasy sports app to reach the unicorn club. Fantasy sports platform should include multiple games like cricket, basketball, football, etc.
7. Carpooling Services
Carpooling is one of the coolest business ideas. It helps mother earth from being over-polluted and also helps many people who don’t have a car by themself. BlaBlaCar is one of the successful business models in the carpooling industry. Uber also started Uberpool business by understanding the demand for carpool. To overcome the challenges of expensive ticket booking either in train, airplane or bus, the concept of sharing a ride came to existence. Now Slowly it had become a trendy business idea among the people.
8. Education Apps
We are entering the era of learning lessons on the internet instead of going to schools and colleges. Even now many schools and colleges take video lessons for a better understanding of the students. It is now a trend for doing online certifications and courses. It will surely grow in number in the future. The Internet also made easy for the students to understand the subject very clearly. One can easily now buy the Udemy Clone app and start an e-learning business.
9. Dating Apps
Not only the way of buying goods made online, but finding a calibrated love also became online in this digital world. Stepping out of the door to find someone to love is just replaced by swiping up and down of the profiles in dating apps. The digital world has made people find their love on online dating apps and the report says $6.4 billion has been reached through the use of Dating applications. Thus, making a clone of dating apps like Tinder can make you easily collect multi-billion revenue in a short span.
10. Medicine Delivery
The online medicine delivery applications and websites have reduced the difficulties of people from going to a medical shop and buying medicines to a few swipes and clicks on your smartphones. This online medicine delivery applications are quickly spreading like a wildfire. Statista says that the global e-pharmacy market in 2018 has been approximately USD 42.32 billion. And also it is predicted that it is going to generate around USD 107..53 billion by 2025, at a compound annual growth rate of 14.26% between 2019 and 2025.
11. Hotel Booking
Hotel Booking Apps like Oyo, Trivago, etc had made the hotel room reservations very easy. It lets people know the availability of rooms by days, months and hours, amount, etc. This maid the user to plan their trip according to the availability of the hotels. And also people can choose the best hotels by seeing the pictures of them on the platform. It is also an on-demand business idea for 2020.
12. Travel Booking Script
This is more useful for vacation lovers, As this offers car rental, flight bookings, hotels and tour packages in a single platform. This is a business idea that offers all the necessary services needed for an individual/family to make a comfortable vacation. As I already mentioned that the number of tourists is increasing day by day, this business will help you to get more income.
13. Image sharing apps
With the rise of smartphones, the use of photo-sharing apps like Instagram is constantly widening. It is achieved by engaging users of different age groups with its attractive and unique features. Instagram is being the most successful image-sharing app to date. The concept of sharing the videos/pictures of beautiful moments in life is loved by the users. That the reason behind the victory of Instagram. This is the perfect option for becoming successful and making money out of a mobile app.
14. Messaging Apps
In this fast-moving globe, people use messaging apps to connect with their loved ones who are at a long distance. The messaging apps offer the people a comfort feeling that they are always near with their dear ones. With technology development, the messaging app includes more enhanced features like video chatting, voice calls, group chatting, image and video sharing through which people share their feelings instantly. By making a clone of messaging apps like Whatsapp, you can grab more users’ attention and revenue.
Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is a form of crowd sourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding. So you can also start a crowdfunding business or if you running a similar type of business.
16. Rummy Game App Development
Since years rummy has been most loved and widely played card games by a huge group of people. In this busy running life, people started playing rummy online. Even in their hectic lifestyle, players cannot stop playing this game. It is being the best mind refreshing game for the people from their restless life. On keenly watching the demand for these games, the game app providing companies developed apps and started offering game apps for these game lovers all around the world.
17. Video Streaming Apps
It is now easy for people to watch their Tv shows and movie with these video streaming apps/webs. This market valued was at $43.9 billion in 2017 and with a CAGR of 9%, it is expected to reach $87.1 billion by the end of 2025. A Netflix Clone, youtube, etc can prove highly beneficial for an entrepreneur planning to enter this industry quickly and efficiently.
Nowadays business does not require a physical office to run the business. Simply buying an application or website, startup entrepreneurs can earn a billion dollars of money. Now you may get an idea of starting a business which perfectly suits you. Startupmart provides premium solutions for all the above businesses like Airbnb, UberEats, UberTaxi, BlaBlaCar, Dream11, etc. We offer the best clone apps/webs of all the on-demand business models for your business. Talk to experts and get a free demo. May 2020 make you reach more heights with our clone apps/web.
Disclaimer : Startupmart neither represents nor has command over the trademarks of Uber, GoJek, Airbnb, Dream11, etc. We are not doing any promotional activities for them and we use these terms only for understanding our products. Our motto is not to harm any organization or individual.
Muthu Priya is a enthusiastic Digital Marketing Executive who has strong background on-demand mobile app marketing, performance-driven habits and forward-thinking creativity to all programs she oversees. She writes about mobile app technologies, Startups, Industires. Stay in touch with the blog updates at Startupmart to know the trends of On-Demand Industry.