As useful as it would be, nobody can predict the future. But market insight may hold the key when it comes to understanding which businesses could grow this year.
Of course, it comes as no surprise that geopolitical, social and economic factors will underpin success rates in 2019.
But many agencies continue to thrive and trade through reliable markets like OANDA – and its largely because of the industry that they are based in.
So, which markets should we be looking out for over the next 11 and a half months?
The Property Market
Whilst Brexit uncertainties still abound, one thing helps industry experts remain optimistic about its future: technology. PropTech Start-Ups like AskPorter appear to be transforming the industry – and look to influence its continued growth, too. Whilst small property firms typically use these services to increase inventory, larger ones look to these sources to enhance brand awareness and maximise savings.
A trend that has seen huge growth the property market, for example, is the acquisition of smaller estate agencies by bigger ones. If specialists’ predictions are anything to go by, investment in PropTech by the latter could propel acquisition rates and company growth even further.
With this in mind, it may be that the property market is worth looking out for this year – and not just because of our departure from the EU.
The Cloud Industry
The cloud industry continues to grow at a fast pace – but why is this? Well, according to experts, companies offering cloud services – like Microsoft – can continue to charge high rates because the industry as a whole is yet to be “commoditized”.
And because of their positive influence on business performance and organisation across the world, experts anticipate heavier usage of these sources in 2019.
If this prediction comes true, which it is likely to, the cloud market will remain one of the main industries to watch.
Mobile Food Businesses
The world seems to become busier with each day – it seems that few of us actually have time to sit down and eat these days. That’s why the mobile food industry is growing at a rapid pace.
In fact, revenues for mobile and restaurant services are predicted to increase next year from $45,022 to $46, 816. This is especially promising for emerging businesses in the catering industry.
Therefore, owners of alternative food shops, online subscriptions services and street vendors could benefit from keeping a close eye on trends and changes in this industry area.
Identifying emerging markets can be tricky. With this guide, however, you can locate which areas to seek for business growth.