Digital product investors are eager to get in on the ground floor of the digital revolution. If you're planning a new venture that involves building software, here are some industries on investors’ radar that you might consider targeting.
Fintech is a broad term for any financial technology company, and it's one of the biggest industries to watch right now. As we all know, traditional financial institutions are unable to satisfy all of our needs. They've been around for decades, but the industry is still experiencing growing pains. Fintech companies are looking for new ways to disrupt the sector and better serve their customers' needs—and investors are taking note.
Security and Privacy
Security and privacy are important in many industries, including healthcare and finance. The digital product space is no different. Security is important to protect personal data (which can lead to identity theft), business data (which can lead to financial loss or fraud) and government data (which could compromise national security). Privacy is also important in all of these areas: it protects individuals from having their private information exposed, prevents businesses from getting hacked or attacked by competitors, and makes sure governments don’t abuse their powers when they have access to social media profiles or healthcare records.
And as we know from recent news stories about industrial control systems at power plants being hacked, privacy is even more important for industrial applications than other industries because hackers could do serious physical harm if they gain access to sensitive systems like these.
Wireless and Networking
Wireless and networking are a huge part of the digital product space. These industries are growing very fast, with wireless alone being worth $1.3 trillion in 2017 and expected to reach $3.7 trillion by 2022. The industry is also highly competitive, with many companies competing for market share and investors putting money into different projects within this space as they try to gain an edge over their competitors.
Wireless has been called "the key technology [of] our time" by venture capitalist Steve Jurvetson because of its importance to digital products like smartphones, connected cars, wearables etc.—and it's only going to become more important as these devices evolve further into artificial intelligence-powered IoT devices that will change how we live our lives.
Communications and Collaboration
Communications and collaboration are two areas that investors are very interested in. This includes companies such as Slack, which has received over $1 billion in venture funding, Zoom, which has received over $300 million, and even Dropbox with its $500 million investment from Valor Equity Partners. These companies have all found success by providing platforms for work communication that bridge the gap between people and their data.
What does this mean for you? If your company is working in this space or something similar, it means there's room for growth, especially if your product offers more than just file storage. Investors want to see something unique. Be sure to demonstrate how your software helps users communicate with one another or collaborate on projects without having to worry about managing multiple applications or devices at once.
Automotive and Transportation
The automotive and transportation industry is a hot topic in the digital product space, with some of the biggest names in technology either currently or recently investing in it. Google, Tesla, and Uber are some of the most notable players here, but Apple, Amazon and even Facebook have also made investments into this area. In addition to these big names, there are also smaller companies that have been making waves in this area like Embark Trucks or the European logistics company Panalpina.
As digital products continue to disrupt industries, we’re likely to see more investment in these five areas.
If you need help preparing your digital prototype or putting together a pitch deck to prepare for raising a round of funding, reach out to our team at Camber Creative to get started.
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