Industries associated with emergent technologies represent some of the most exciting and innovative prospects for investors and consumers alike in the 21st century. The way we communicate, plan, seek entertainment and conduct business have all been irrevocably impacted by the rise of the smartphone, and the software and tech that is associated with it.
Now, as we move into the third decade since the millennium, new prospects lie on the horizon, with blockchain, VR, artificial intelligence and green industry all holding out the promise of hitherto untapped potential.
Into this speculative field come novel and pioneering startups, each of which are looking to realize their vision of the future. Below we’re going to take a look at two of the most compelling tech startup sectors to keep an eye on, both in 2023 and beyond.
Gaming is a market that has enjoyed impressive growth since the turn of the millennium. In fact, today the global gaming market is worth over 2.5 times the value of the film industry. This is impressive, especially when you consider that Hollywood is recording earnings that are higher today than at any point during its illustrious history, thanks in no small part to the MCU entering its so-called ‘Phase 5’.
Gaming startups across the globe accordingly represent an exciting growth area and one that is attracting a great deal of investment. What’s more, due to the sector’s compatibility with emergent tech trends such as NFTs and virtual reality, pioneering companies in this area sit at the forefront of what will soon become the major market currents of the 2020s.
This is keenly demonstrated by way of platforms operating within the iGaming space. This market is enjoying a period of notable expansion which some analysts attribute to the process of deregulation taking place in this sector in the world’s largest economy, the United States. Though in truth this is a side-effect, rather than a cause, of this sector’s rising profile.
More accurately, the extent of smartphone penetration in diverse markets across the globe is considered to be the key driver in iGaming’s greater relevance. New startups riding this wave of digital transformation are accordingly finding themselves outcompeting better established industry names.
A key example of this can be seen in the case of Rabona Casino, a new gaming provider that opened its doors to online trade in 2019. In this short time, this startup has managed to make itself relevant to the iGaming conversation leading it to top the rankings of the online casinos in Saudi Arabia and other crucial growth markets.
This attribution, at the hands of ArabianBetting – a leading comparison platform for gaming services in the Arabian gulf – should come as a wake-up call to legacy organizations that have thus far dragged their feet when it comes to pivoting towards online gaming.
Self-Driving and Automotive
One of the most intriguing emergent markets for tech startups is the field of self-driving and automotive tech. Several startups from various regions around the world are exploring the significant potential that self-driving technology represents, with each adopting a different approach and emphasis.
The Hungarian startup AImotive, for example, is considered to be the leading business in the field of retrofitting AI-enabled self-driving tech to conventional vehicles using off the shelf cameras. In the future, these kinds of conversions may well become commonplace and the work AImotive is doing in this space already is nothing short of remarkable.
In terms of ‘true’ self-driving vehicles, it’s possible to divide the approaches being taken by startups into two distinct directions. The first of these, exemplified by the San Francisco outfit AI taxi startup Cruise, teaches a vehicle a bounded map and lets it make decisions within this framework. For Cruise’s cars, this map is currently restricted to San Francisco.
The cars are fed real-time traffic information, and utilize route finding abilities to meet patrons requesting their use through the company’s app, and to convey them safely and efficiently to their destination.
The other approach, which is being undertaken by the startup TuSimple among others, is to build fully autonomous vehicles that make decisions based upon data they collect in real time.
This tech, which is being trialed in long distance shipping trucks, will hopefully one day automate much of the intercontinental lorry freight that is currently done by humans.