Top 7 Industries Anticipated To Expand In 2020
Top 7 Industries Anticipated To Expand In 2020
For a while now, the Indian economy has ranked among the fastest-growing in the world. Numerous businesses have prospered throughout time thanks to rising disposable income, favourable demographics, and cheap loan availability.
The expansion and development of several new and old sectors have also been aided by factors including the expansion of the internet, the focus on environmental problems, cost-cutting, and developing technology. It is anticipated that a wide range of industries will sustain strong levels of development in 2020.
Top 7 Industries Anticipated To Grow In 2020
- Franchise Industry
- Renewable Energy
- Augmented Reality (AR) and Virtual Reality (VR) (AR)
Let’s take a look at 7 sectors that will grow in the upcoming year:
One of the key factors influencing the expansion of an economy is infrastructure. Modern infrastructure is essential for the development of both existing and emerging enterprises.
The infrastructure sector is anticipated to increase significantly in the coming year as a consequence of the work done to modernise India’s ageing infrastructure. Large infrastructure and building companies, as well as residential developments, are all accelerating India’s infrastructure development.
To appeal to a younger consumer base, big banks are modernising and digitising their business processes. The focus of banks is anticipated to change in 2020 from being more product-centric to being more customer-centric. This new approach offers tailored financial services and will contribute to higher client satisfaction.
Fin-tech and cryptocurrencies are further trends that may have an impact on the financial sector in 2020. In 2020, the fintech sector in India is predicted to reach $31 billion, greatly expanding the reach of the its services into smaller cities.
India’s F&B sector provides both high-growth and high-profit business prospects. Particularly, the food-processing industry has seen a sharp rise in investment from abroad and a growing preference for Indian food products.
In addition to eateries, the Indian industry is seeing a growth in packaged food items, organic products, and meal delivery applications. Investigating F&B company opportunities in India is a great approach to get started in the sector.
The franchising sector is another bright sector that is anticipated to expand at a good rate in 2020. The franchise market in India is expanding quickly and is known as a low-risk business endeavour for first-time investors and a reasonably sure means to develop for seasoned investors. When you purchase a franchise, the franchisor sells you the right to utilise their brand, name, operational procedures, and assets. Usually, the franchisor offers the required networking support and direction. You may start a franchise business in India by choosing from a variety of options.
In India, a number of foreign franchisees have already established themselves, and by 2020, many more are anticipated. Start by doing some research on the industry you want to investigate. Create a list of every franchise in which you are interested after that. Start weighing your alternatives, then get in touch with the franchisors you believe share your business objectives. It is obvious that you should put your initial attention on raising the necessary investment funds. Hire a franchise expert in India and make sure to thoroughly go through the franchise agreement’s main provisions.
In the past several years, there has been a multiple-fold increase in the expansion of hospitals, medical gadgets, clinical trials, telemedicine, medical tourism, health insurance, and medical equipment.
Among Indians, the use of biotechnology, robotics, artificial intelligence, and data management in healthcare, mental health, and data management has emphasised the need for greater spiritual, psychological, and physical wellness. It would be a good decision to investigate a business possibility in the same if you have any expertise or understanding of the sector.
India’s ability to use renewable energy sources like solar and wind has greatly improved in recent years. Government policies that are supportive, falling costs, and significant investments have helped these sectors flourish. Growing awareness of environmental issues like global warming is what’s causing this business to expand. As a result, if you can establish a firm in this sector, you will undoubtedly see continuing development as the need will only expand over time.
Augmented reality (AR) and Virtual Reality (VR) (AR)
VR and AR are assisting established technologies and changing businesses while being a relatively new sector in India (like the video game industry). Every business, from property investment to automotive to advertising, is utilising these most recent technology to better connect its customers. The entertainment, education, medical, architectural, defence, and aerospace industries will all be affected by VR and AR in the upcoming year.
A franchise not only saves money but also carries less risk because it is based on a tried-and-true business strategy. Franchises might be a fantastic business venture for you to pursue if you want to experience instant success and are willing to take measured risks.
Both existing businesses like franchising and emerging ones like virtual reality and augmented reality will prosper in 2020. The aforementioned industries will continue to develop in India due to increased population affluence, improved entrepreneurial prospects, and global exposure.
Don’t forget to take into account the industries and business strategies listed if you intend to start your own firm. Fill out this form to get in touch with us if you’d like to learn more about how to launch your own franchise business.