Over the past few years, the following have been generated technology market niches thanks to the evolution of this science. Although there are already several tools to solve all kinds of problems, it is not always necessary to have a disruptive idea to achieve success. In fact, improving and taking advantage of an existing technology is necessary to gradually adapt to the new times. In this sense, we will talk about new business opportunities in some areas of the technology sector.
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The disruption, The creation of tools that change the way of understanding an environment, or the creation of tools that change the way of understanding an environment, is something difficult to achieve. That is why most organizations take advantage of technology niches to subtly enter the market. Before listing some potential technology niche markets, we will see how to identify them.
How to identify market niches?
A market niche is a gap in the market of a specific sector. It is a unmet consumer need of a product or service. Precisely for this reason, because there is not yet a tool to satisfy them, it is difficult to identify these niches, especially in the technology sector.
It should be noted that a niche market is made up of a small part of demand. The goal, then, is to grow this segment of the population to standardize what was once unusual.
The market sectors are extremely broad, but major suppliers tend not to take risks if a strategy is already working for them. Therefore, technology or niche services tend to be necessarily specialized.. Competition, in these cases, is a positive factor since it allows an in-depth analysis of what they offer and consumer demand. This makes it easier to identify what is not being offered in order to get down to work.
New market niches in technology
Although most of the aspects we discuss already exist, in your industry, not everything has been said yet. Therefore, following a specific strategy and focusing on a studied target should help us achieve success.
- The death of cash. In large cities, the young sector of the population hardly ever pays in cash. Without going any further, in Barcelona, people under 35 years of age make 80% of their purchases through credit cards. Although we can already pay with our smartphone and our weareables via NFC, this situation has yet to be exploited. Therefore, we can place here one of the great niche markets in technology.
- 3D Printing. Although 3D printing is no longer a novelty, few companies are dedicated exclusively to it. Thanks to this technology, it is possible to generate industrial parts, medicines and even prostheses. In this case, the possibilities are almost endless, so an in-depth analysis of the sector could generate new ideas.
- Renewable energies. With the repeal of the Sunshine Law in Spain, Now more than ever, it is easier than ever to work in this area. The progressive increase in the price of fossil fuels and the polluting emissions they involve have given rise to the development of this sector.
- Domotics and AI advisors. Devices like Amazon Alexa or Google Home are growing in popularity. Devising a similar device would be impractical, but leveraging their power to generate applications accessible through these tools is a good business idea.
- Support bots. Related to the previous point, Artificial Intelligence is also starting to be applied to provide customer service on the Internet. Some bots are capable of performing complex tasks, such as reconfiguring your router's Internet connection. Use Machine Learning and train a bot to do something new!
- eSports. We know that this is an already exploited market, but the vast majority of companies do not take it seriously. Digital Transformation has reached sports and there are even teams that are as popular as traditional soccer teams. This market has great opportunities, from the creation of new streaming platforms and new competitive video games to the management of a professional team.
These are just a few examples of niche markets that are not overexploited to generate business. However, there are many others that have yet to be discovered. The key, in these cases, is to give acreativity and empathy to find out what a certain sector of the population needs. If you manage to satisfy a need for which no one has yet proposed solutions, your success is guaranteed.