Wednesday 15th of November 2023
Technology is under the spotlight in the digital age. With generative AI taking the world by stor
...m, customers across the globe have become consciou...
Technology is under the spotlight in the digital age. With generative AI taking the world by storm, customers across the globe have become conscious of tech advancements. They want products with innovative features and futuristic specifications to enjoy the benefits of evolving technology. The biggest global businesses are leveraging scientific and technical knowledge to build new devices and tools that simplify lives. A lot of manual work is now being done through automation processes, making deliveries faster and error free.
Whether it is Apple, Alphabet, Meta or Amazon, the biggest brands in the world have built their empires through tech based products. These businesses are performing exceptionally in the current tech savvy world filled with smart devices and high internet penetration. It is the perfect business category for new players to make their mark and gain quick success. Here is a list of promising tech business ideas for aspiring entrepreneurs to enjoy high profits and consistent growth.
Cyber attacks have been on the rise in South Africa, with the number of spyware attacks reaching 17 million in 2024. Many businesses have been affected by similar threats and the numbers are growing with increased hacking attacks due to low security levels. Most entities lack a cyber security policy and employees are not trained to identify malware and threats. Consequently, the demand for cyber security services is soaring, and the market is expected to showcase significant growth in the next few years.
The need for cyber security services for banking, professional services and healthcare businesses will rise and create a massive opportunity for entrepreneurs planning to enter the industry. A start up in this space can help fill the skill shortage gap and help entities comply with data protection guidelines and the Protection of Personal Information Act.
Artificial intelligence, or AI, has become the most talked about tech in the last year. Entrepreneurs can establish a tech start up in the AI segment or acquire an existing business for sale in South Africa in the domain. These entities can solve problems by developing AI-powered software and applications for different industries to help them navigate challenges in the digitally connected world. They can develop innovative products with the help of technology that can make repetitive tasks obsolete and increase efficiency.
The Internet of Things, or IoT, is a linking technology that builds a network of connected devices to allow data sharing. The devices that can be included in the network cover appliances, vehicles, machines, etc. IoT enables the network to use the data to perform tasks autonomously in homes, workplaces and the transportation industry.
Some of the everyday devices that can become a part of the network are smart watches, smart speakers, RFID clothing, etc. The technology is helping various industries become efficient, such as manufacturing, healthcare, retail, transportation, etc. With revenue from the IoT market predicted to soar, it is an excellent time to start this venture and capture a big market share.
Robotics is another technological field that is helping with automation of repetitive, time consuming and hazardous tasks. The manufacturing industry has been using this tech for a long time to reduce manual labour and keep workers safe from dangerous working conditions. Thus, individuals looking for business opportunities in South Africa can opt for a robotics entity.
These businesses are involved in designing, manufacturing, programming and controlling robots that can replace humans employed in taxing job roles. The sector is gaining momentum in the country and is paving the way for industrial automation. In addition, there is a growing need for robotics process automation services across industries. So, it is the best time to jump on the bandwagon.
Software is the most used digital tool for making business processes and daily lives easier. It is necessary in the digital world connected by computers and smartphones to allow users to perform various tasks, such as accounting, shopping, graphic designing, video editing, emailing, communication, etc. From project management and time tracking to creativity and database management, software is everywhere.
Thus, there is a pressing need for designing, building and maintaining software. Tech savvy individuals can use their knowledge and expertise to start a business in this domain and gain market leadership with a tool that solves problems. Software development is a highly sought-after service that is here to stay and will continue to generate demand.
Many aspiring entrepreneurs prefer buying businesses for sale in South Africa to start with an established customer base and brand awareness. However, they get confused about choosing the right industry or category. Those looking for tech businesses can divert their attention to 3D printing services. It involves the designing and construction of a three-dimensional object with the help of computers that process the designing and solidifying of the material. These businesses are becoming highly popular in the country, and several tech start-ups are investing in the technology to make their presence felt. These businesses can also cater to the global audience and fulfil the demand for prototyping and on-demand manufacturing across industries.
Immersive technology is a common term used for augmented and virtual reality. AR displays digital information over the real world, creating a stunning visual experience that includes sounds and images. Virtual reality requires wearing a device over the eyes to view a computer generated environment, such as video games. Immersive tech is used to improve customer experiences in various sectors, including retail, marketing, tourism, healthcare, real estate and ecommerce businesses.
The use of this tech is increasing and will continue to rise, and entrepreneurs can take advantage of this new trend. They can provide immersive tech solutions to businesses intending to offer exceptional customer services or become tech forward. Thus, new entrepreneurs can start a new entity or purchase a South African business for sale with the required infrastructure to get started and enjoy success.
Wrapping Up
Technology is an ever evolving sector that keeps disrupting industries with path breaking innovations. Setting up a business in this category can help budding entrepreneurs become a part of a dynamic industry and pioneer creative solutions. The opportunities mentioned above can help them carve a niche in the competitive marketplace.
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