California, the wealthiest region & hottest real estate market, has always been a first choice for technology businesses. It is home to many famous companies like Apple, Google, HP, Intel, Adobe and several major tech giants. You may have heard or read about the journey of these companies, how they started and where they are now. That’s why startups are looking to start their technology business in California.
Why opt for California to start your technology based business? Here are some reasons:
But with so many tech-based business ideas out there, it can be hard to know where to start. Don’t worry, we’ve got you covered. In this blog, we have explored some of the great technology-based business ideas to start right now!
Below is a list of profitable tech-based business opportunities that can be started now.
As EVs become more prevalent on the road, you may want to start an electric vehicle charging station business on your property.
Installing electric vehicle charging stations can bring your company substantial financial benefits. Depending on various factors, such as your industry, charging fees can generate thousands of dollars in annual revenue.
“More people will be buying electric vehicles than gas cars by 2030”, Boston Consulting Group reported this year.
EV vehicles are now in trend and people are buying it at a large scale. That’s why installing EV chargers at your facility could be a great idea. In 2019, 2.1 million people purchased EV cars worldwide. The EV vehicle market will be $2.3 trillion by 2041. Now is the great time to invest in this business.
Installing EV chargers at your property has numerous benefits, including attracting people, especially with the rising popularity of electric vehicles. In 2019, global sales of electric cars reached an impressive 2.1 million units, marking a significant 40% increase compared to the previous year. Investing in electric vehicle charging stations is a wise decision considering the projected exponential growth of the electric vehicle market, which is estimated to reach $2.3 trillion by 2041. Suppose you are the owner or manager of a commercial, residential, or retail center. In that case, you can take advantage of the growing population of electric vehicle (EV) drivers and their positive impact on your establishment.
Whether you choose AC or DC (fast charging) stations, it will be a reflection of your brand, so it’s a good idea to pick something that’s reliable, accessible, and intelligent. Here are the main requirements for your charging equipment:
In today's fast-paced world, we have become accustomed to instant gratification through convenient ride-sharing and streaming media services. Delivery services are an extension of this cultural phenomenon and present a wide array of opportunities for those interested in carving out a space for themselves catering to the cravings, whims and needs of others. With the rise of various apps that enable online ordering, people can now conveniently have almost anything delivered to their doorstep. These apps offer various delivery services, from delicious french fries to essential medications.
Running a delivery service has become incredibly profitable in today's market. The US couriers and local delivery industry has experienced consistent growth of 5.5% annually since 2017, resulting in a current market value of $178 billion. Here is a selection of excellent delivery business ideas for you to consider if you're contemplating starting a delivery service but are having trouble deciding on a particular niche.
Grocery Delivery Business: If you own a local grocery store or a retail store, you can convert it into a grocery delivery business plan that can accommodate potential customers online. You can create a mobile app for grocery shoppers like Doordash and start selling your products.
Food Delivery Services: The food delivery services industry has witnessed a fanatical growth in the last few years due to upcoming trends. The primary reason is convenience. People can have their favourite dishes delivered from their favourite restaurants through a food delivery app. As a result, meal delivery apps such as DoorDash and SkipTheDishes have experienced unprecedented growth.
Pharmacy Delivery: If you own a pharmacy, you can include home delivery services for all orders to increase customer satisfaction and revenue. Investing in several delivery vans and hiring skilled drivers is an excellent strategy. In addition, pharmacy deliveries must utilize reliable delivery software that can effectively track the driver's location.
There are many other types of delivery business opportunities besides the above-mentioned examples including:
The VR industry is growing quickly and experts estimate it will reach a CAGR of 19.0 % over the next few years. Entrepreneurs globally are quite keen and interested in creating a business around virtual reality and offering valuable help to customers. Metaverse has created massive opportunities in the realm of virtual world enticing firms to gain maximum traction. There are numerous business ideas associated with VR right from gaming to interior design, training programs, art galleries, and much more.
Turn your VR business idea into reality by creating amazing events and marketing campaigns leveraging futuristic technologies.
VR therapy software uses state-of-the-art technologies that offer therapeutic interventions to patients suffering from health disorders. All these experiences take place in virtual settings. It includes features like interactive activities, biofeedback integration, immersive environments, therapist monitoring and control, progress tracking, cognitive behavioural therapy modules, guided narratives, etc.
The conventional fitting rooms are outdated and it's time to revolutionize the fashion game business with the virtual fitting room platform development. This business is surely going to attract customers big time by allowing users to try on clothes in real time while sitting in the comfort of their homes. There are different types of fitting rooms like virtual mirrors,3D avatar-based fitting rooms, ar virtual fitting rooms, etc
Another great business idea that has the potential to excel in the current scenario is the healthcare business. Most specifically, the most talked about category is the medical consultation services. It offers advantages like enhanced engagement, improved efficiency, education & training purposes, data-driven treatments, and much more.
With the ongoing technological advancements, the technology which is capturing the faith of businesses is "Blockchain". The reason behind its popularity is its application in various sectors like banking, travel, gaming, healthcare, voting systems, real estate, etc. By 2029, the blockchain industry is predicted to reach $163.83Mn with a CAGR of 56.3%. Also, by 2030, the market size is estimated to reach $469.49bn, which is huge.
Gaming is an evergreen business that is always in demand. Talking of blockchain games, there are phenomenal blockchain gaming solutions that can be explored by business ventures. These can be built on diverse blockchain platforms like Polygon, Ethereum, Solana etc. Various decentralized games like P2E, M2E, NFT games, decentralized betting games, crypto breeding, strategy-based, etc are a few options. Read our article about blockchain game development cost to know in detail the factors influencing the cost.
The popularity of cryptocurrencies and wallets is increasing with each passing day. So, crafting a business surrounding this is surely going to be a profitable one. Developing customized crypto wallets with advanced security features and interactive interfaces is enough to capture the user's attention. Some of the popular white label wallet ideas include DeFi wallet development, NFT, mobile, and custodial wallets.
Also Read: Blockchain Business Ideas
NFT as a business is picking up pace right now and soon will be a lucrative option for businesses worldwide. Developing creative, intuitive, and feature-rich marketplaces is the best thing possible where art of any form is traded. Moreover, it authorizes the artists to enjoy royalty and enjoy ownership of their work. By 2027, the revenue in the NFT market is predicted to reach $3282Mn and grow at a CAGR of 18.21% (from 2023-27)
By 2030, the NFT token market size is estimated to be $212bn and will grow at a CAGR of 34.2%. There is a wide scope of opportunities surrounding NFT token development services that include NFT smart contracts, exchange platforms, lending & borrowing platforms, support & maintenance, etc. There is an extensive scope of NFT token projects across different domains like art, music, fashion, real estate, photography, ebooks, etc, opening opportunities for all.
NFT ecommerce is also in the race to revolutionize business setups by instilling ultra-modern technologies like AR/VR, AI, blockchain,3D, etc. It offers retailers facilities like proof of ownership & transactions, loyalty programs, selling NFT collector’s items, pre-launch of physical products, and much more.
NFT minting business is a flourishing business that allows users to demonstrate and mint their digital collectibles in the virtual marketplace. It has captured the attention of users which leads the market towards fabulous financial growth, long-term perks, massive business traction, and so on.
NFT games have completely remodeled the gaming realm and resulted in tremendous engagement, monetization, and retention. These encompass PVP, P2E, M2E, RP, Web3, and crypto games that are absolutely 100% free from bugs and abnormalities. Also, by 2028 the NFT game market size is predicted to reach $820.78bn at a CAGR of 14.84%.
Artificial intelligence is the most trending technology that has pushed all other ultra-modern mechanisms. From 2023-2030, the AI market size is predicted to grow at a CAGR of 36.8%, which is insane. By 2030, the generative AI market is estimated to be around $207Mn. There is great potential surrounding this contemporary technology as it offers truly personalized, unbiased, smart, and automated responses. The application of AI has proved to be relevant and profitable in almost all industries like healthcare, logistics, insurance, banking, e-commerce, food, real estate, education, etc.
Businesses including startups and enterprises have adopted AI chatbots to provide superior customer support services, instant responses, personalized experience, resolving queries, etc. These are a great investment from a business point of view as they help generate leads, amplify customer engagement, help in cost savings, boost sales, promote faster response time, and much more.
Millennials and GenZ people are highly motivated to have adult-oriented conversations. For that NSFW AI chatbot development proves to be a wonderful business idea. It allows non-stop chatting capabilities 24*7 without any interruption and includes various NSFW chatbots like romantic, RPG, flirty, erotic emotional, unfiltered AI NSFW chatbots that satisfy human desires.
Also Read: How Much Does An NSFW Chatbot Cost
The scope of AI paralegal assistants has found its relevance in various sectors and the legal industry is no such exception. It's a phenomenal business idea as it manages legal tasks, drafts legal briefs, offers bill automation, case management, AI-generated summaries, case research, comprehending legal documents, etc. It's a superb business that saves time, allows collaborations, reduces workload, improves client relationships, etc.
AI CEO chatbots use NLP, DL, ML, and data-driven insights for a human-like conversational style leading to visionary leadership. It facilitates decision-making, reduces error, makes predictions, creates proposals, performs documentation, enhances responsiveness, etc. AI CEO is a new concept but will surely prove to be an effective one in the forthcoming times.
AI news anchor software development has a bright scope and offers numerous opportunities like multi-language support, gesture control, text-to-speech, customized content, live updates, visual content integration, tone adaptation, etc. It solves all the news-related incompetencies and offers advanced solutions to transform news broadcasting by offering live event updates, and authentic and updated information, all in real-time.
With decision-making software, various industries can use the power of AI to transform data into valuable insights to make better decisions. It facilitates businesses with characteristics like problem-solving, opinion mining, reduced biases, recommendations, pattern and trend analysis, decision automation, etc. It's time to explore new growth opportunities without facing any hassle.
AI facial recognition software development uses high-level algorithms and based on that analyzes patterns surrounding facial features. By 2025, the facial recognition market size is estimated to be around $3.8 bn at that too a CAGR of 17.2%. Its features include multi-verification methods, live facial recognition, multiple face readability, remote upgrade,cloud-db approach, multiple modes of facial recognition, repository database, etc.
IoT is holding a strong prominence in today's day and age and the IoT market size is estimated to be $6061 bn. Moreover, by 2050, it is expected that about 60% of the worldwide population is assumed to reside in smart cities. Looking at these statistics, it is quite clear that the upcoming times absolutely belong to the Internet of Things.
The IoT-based smart parking system offers a futuristic business opportunity. As per the UN report, by 2050, about 68% of the global population will start living in urban areas, which shows IoT is quite relevant in the future. so, crafting a solid idea and strategy around this business is just superb and will fetch billions of dollars.
The smart features of IoT-Based smart parking applications encompass parking navigation, sensor data collection, quick check-in and check-out, parking management, vehicle information, booking management, etc.
Web3 is the most innovative web3 business idea as it includes all the cutting-edge tools and technologies that lead to successful business ideas. It includes web3 wallet, web3 e-commerce platform, web3 game, web3 social media, web3 real estate, and web3 education platforms that aid in transforming businesses to the next level. The 3D models, latest tech stacks, innovative solutions, flexible and responsive platforms will amplify the business via increased sales and revenue.
By 2027, the market size of the fintech market is expected to be about $388.062 bn. Venturing into the fintech industry is one of the most profitable things. There are numerous ways of generating income i.e. subscription-based, lending, digital wallets, robo-advising, crowdfunding, etc.
The concept of launching virtual banks is quite popular among fintech institutions. Their main customers are millennials and GenZ who are the biggest admirers of banking services supported with top-notch management tools. By 2032, the global neobanking market size is expected to be around $775.48 Bn at a CAGR of 49.01%.
Crypto wallets are the talk of the town right now as they perfectly handle digital assets with top-level security. Some of the popular ones are DeFi, NFT, custodial, mobile wallets, etc which allow transactions to take place straightly between the concerned parties maintaining transparency. By 2028, the crypto wallet market size is expected to be $46.72 and from 2022-2030, the CAGR will grow at a significant 24.23%.
White label banking software enjoys an extensive reach when it comes to offering smart and secure payment solutions to the customers. By 2028, the white-label banking market size is expected to be around $5.1 bn and from 2021-28, the CAGR will expand at a rate of 10.6%. Such figures state a bankable and worthwhile investment option.
Crypto banking solutions apply to fintech startups, banking, consultancies, corporates etc. The fascination surrounding crypto wallets is huge due to the magnificent features they exhibit like real-time data analysis, fraud protection, sending remittances, loans and credits, trading desk, merchant payment gateway, and much more.
Metaverse is a virtual world with a combination of AR and VR and provides fascinating digital experiences via AR/VR headsets. By 2030, the metaverse market size is estimated to be around $678.80Mn and there are enormous opportunities such as organizing events/meetings/ conferences, digital twin development, urban planning, etc. Various startups/enterprises have moved their business to the metaverse for much wider public attention.
One of the best ways to attract customers is by building robust and responsive metaverse apps equipped with next-gen technologies. These apps are applicable to different industries/sectors like gaming, e-commerce, real estate, education, healthcare, etc. Metaverse as a business idea is somehow valuable in terms of money-making and gaining customers.
Metaverse NFT games are the desired choice of gamers because of the immersive experiences it offers. Also, the add-on features like cross-platform play, 3D reconstruction, and adaptable gaming ecosystem are the prime reasons that add up to the adoption. By 2032, the metaverse gaming market size is going to reach $563.8 bn, which is awesome.
E-commerce alone is already a well-set business, now with the integration of metaverse, its demand has reached new heights. With an e-commerce website in the virtual environment, customers are able to perform shopping and socialize in a much more effective manner. It offers AR-based shopping, product video, personalized experiences, gamification alternatives, virtual showrooms, etc.
Investing in an education platform is a great way to earn money but it also helps in imparting education in wider sections of society. The opening of e-learning platforms in the metaverse is a remarkable way of becoming a billionaire. It creates a supremely engaging learning experience while sharing innovative ideas. By 2030, the metaverse education market is estimated to have nearly 104.6 Mn users and the user penetration rate will grow by 1.6%. These stats clearly show that metaverse-based education platforms have a massive reach and will continue to be in the future.
Another stunning business idea that can help you rake in massive money is the cloud computing business. Venturing into cloud-based software, infrastructure, and platforms are among the top choices of entrepreneurs. Even offering cloud consulting services as a part of business is superimpressive. From cloud adoption plans to managed services, and security/migration consultation, there are outstanding options that will take your business to new heights.
Nowadays cyber threats are seen in every field, so big corporations are in dire need of securing their systems and eliminating cybersecurity risks. Providing consultations related to security assessment, cloud compliance, risk-aligned solutions, cloud security planning, etc. Opting for this idea is definitely going to accelerate the business to pinnacles of success.
The financial threats pertaining to banking activities are huge. So, helping fintech firms create a cloud-based banking system not only reduces fraud but facilitates infrastructure savings, security, scaling & agility. It's a stupendous business idea that has a broader spectrum and enticing mega-pool of people.
With the constant adoption of emerging technologies, the role of remote services is prevalent. The same goes for the healthcare realm, treating patients and offering telehealth services is a mindblowing business idea. Healthcare business in itself is a lucrative industry and to offer in-home services without traveling outside is just perfect. Moreover, as per reports, the telehealth market size is predicted to be $893.7 bn with a CAGR of 24.13%, making it an ideal business concept.
Developing custom home healthcare management software for healthcare agencies aids them in streamlining business operations, lowering operational costs, and expanding their reach. Also, building a homecare app acts as an additional tool in amplifying productivity and removing complexities, which is the biggest need of businesses today. By 2030, the market size of home healthcare software is predicted to be $11.8bn, projecting that it has an extensive scope.