The digital world is changing faster than ever. From application development to website development, we are now at a point where it’s about having an idea and also the execution.
Since each of these frameworks has similar uses, bearing all these questions in your mind is completely normal.
But, building a product is not a joke, and is much more expensive and time-intensive than ever before.
The investment required to build a successful startup has gone up exponentially due to the increased competition.
Digital products have become one way for startups to make their mark on the market without breaking the bank – if you can afford it!
Newer innovations are unveiled to transform industries and change how we live our lives. The future of business will be influenced by these trends in digital products.
In this blog post, we will cover the 9 most profitable digital product trends for future entrepreneurs.
These trends will provide an edge over your competitors and help ensure your company thrives in the future economy.
We will also give you an overview of each trend and some critical considerations before launching your own product.
Ready? Let’s dive in!
Table of Contents
Voice Activated Computing
Voice Activated Computing is a new and emerging technology that has the potential to change how we interact with our world. What does this mean? Well, you might be able to use your voice to dictate emails or play music on your smart speaker rather than having to type or tap.
Imagine walking into your office, and you’re greeted by the sound of Vivaldi, the sunlight shining through the windows, and your favorite coffee waiting for you on your desk. You walk up to your computer, say “Hello,” and it responds back in an instant.
Voice computing also helps people who struggle with reading, including those who are blind, dyslexic, illiterate, non-native English speakers, and those for whom English is their second language. Such people will have access to information in ways they never could before!
Voice recognition software will make it easier for all of us as we age by allowing users to speak more naturally without the need for scrolling through endless menus.
With voice-activated computing, you’ll be able to use different commands like “start meeting” and “turn off the lights.” This means you won’t have to stop what you’re doing to finish your day-to-day tasks. Not only does this technology seem futuristic, but it also seems practical considering all of its features.
Today, some popular Voice Computing digital products are – Google Assistant, Amazon Alexa, Siri, and Cortana.
Artificial Intelligence in digital products is a powerful and dynamic force that will change how we live, work, play.
A growing number of people are using artificial intelligence (AI) based programs to make decisions for them, such as selecting an outfit or what song should be played next on your playlist – but this isn’t just limited down to personal preferences!
Imagine if all those tech companies had access to user data too, like age range/gender, to tailor advertising messages accordingly? Or perhaps there’s some new gadget coming out which requires deep neural networks trained under supervised learning algorithms before it becomes commercially viable.
According to ETA Data scientist Steffen W Keller: “AI can get you into autopilot mode where you don’t have to get emotionally involved at all.”
Today, some popular Artificial Intelligent companies are – Open AI, Amazon AWS, Microsoft Azure, Alphabet, etc.
The scope of Biometric Identifications is becoming more and more popular in digital products. We can use biometrics for a wide variety of different things, such as authenticating users or securing transactions on mobile apps. Some banks also employ them to verify account ownership before payments go through!
Today, Biometric Identifications can identify people by their irises or facial features with a high degree of accuracy and speed that would have been unimaginable ten years ago. It has come about mainly because these technologies are becoming more affordable as time goes on.
These systems (like eye scanning) are becoming increasingly popular because there’s nothing more reliable than your own eyes when you’re trying to access an account against hackers who want free reign over everything.
The future holds great promise in using tech devices safely: instead of relying solely upon passwords without any additional layers of crypto encryption to keep the user data well protected.
Custom Mobile App Development
The scope of on-demand business apps is expanding. In just a few years, they have gone from being an idea to reality and already have so many different applications within the field that it would be impossible to list them all here!
One great example with some recent innovations in this area is Uber, which is indisputably an excellent taxi booking app, or Zomato, one of India’s top-grossing online food ordering apps.
On-demand business apps allow you to access all of your essential information at any time. It means that there’s no need for cumbersome paperwork and the hassle of finding what we need in person when it can just show up on our screens right away!
Especially after the Pandemic, these on-demand business apps have skyrocketed the market. With so many intuitive development frameworks and capable developers to play with them out there, mobile app development in 2022 will only create banks for your business.
IoT & Smart Home Devices
The internet of things and smart home devices are quickly becoming a part of our everyday lives. In just 10 years, we’ll be able to control our homes and cars through voice commands with the help of IoT devices that are already in use today.
These so-called “smart” technologies will make life easier by allowing us more freedom over when appliances such as lights or heating systems turn up automatically. They also mean you can get notifications about things happening at home without having to check on your phone first!
Effortlessly dimming downlights after sunset might not seem like much. But, if 100 million US households start doing this every night, then energy expenditure could drop significantly, which means less reliance upon fossil fuels for power generation.
In 2022, the Internet of Things (IoT) is projected to grow 8 times faster than any other technology. Over one billion devices will be equipped with IoT capabilities within a few years! In addition, these numbers are only expected to increase as new standards and technologies continue popping up monthly.
Bots for solacing & healthcare automation
According to Techopedia, bots will be a significant contributor in the future. They say that by 2028 there could be 50 billion of them!
The pandemic lockdowns and quiet desolation of cities have fostered anxiety, but this is no longer the case, thanks to bots who can solace people in their time of need.
AI Bots has even had a therapeutic effect on those with depression or other mental health issues. These future bots solace people with their company are just what the doctors ordered!
They’re not only entertaining but also inspirational as they motivate you on your own personal journey for healing from mental health issues or simply someone who needs an emotional boost in tough times.
AI has given us so much over recent years, including automated engagement tools that can help those suffering from chronic illnesses by providing personalized content at convenient times.
Bot creators are also taking advantage of AI in the healthcare sector by implementing apps that automate engagement for patients suffering from medical conditions, such as Covid-19.
Virtual Reality (VR Games & Virtual Tours)
Virtual Reality for games and tourism is an innovative idea that could take over the entertainment industry.
This technology will allow you to strap on a pair of VR goggles which let your computer render 3D graphics as if it were real life, letting people experience things from different perspectives they would never be able to see otherwise.
Imagine being in Paris or Rome in 3D. You can even wear your clothes and explore various destinations without ever having been there before.
It’s almost too good. We can’t wait until we have these kinds available everywhere, so everyone has access- even those without much money who still want something exciting to happen inside their home theater system.
Besides, there are many different types of virtual reality products. Still, the most popular one at this moment in time would be Oculus Rift, as it’s affordable for gamers who want to experience high-quality graphics without having to spend much money on their hobby!
Augmented reality is a term that refers to the use of computers in conjunction with real-world objects or realities. The workplace has been going through rapid changes because technology advances so quickly; there’s no time like now for you to take advantage.
Augmentation can be done via headsets such as Microsoft HoloLens, which projects 3D images onto our sight while wearing it at work. Finding misplaced items with just a few taps on an app or virtually walking through spaces that are hard for people in wheelchairs to navigate without any problems, AR has many benefits!
Augmented Reality also defines the future of marketing. It’s a low-cost, high-impact way to make your company stand out from competitors by providing customers with precisely what they want – information instantly!
Innovative businesses are quickly adopting Augmented Reality to help them market their products. M&S, for example, is using AR to increase engagement across all channels of communication with customers. It lets people view an item before buying and enables drop shipping without any upfront cost or inventory risk!
Imagine a world where anything, from transactions to contracts, could be recorded on an unchangeable public ledger. This would provide efficiencies for business operations and ensure nobody has their word doubted because all parties involved could see exactly how things played out at every step in time.
This transformative idea falls more broadly under what we call “blockchain” nowadays but was originally called something else entirely!
There are many ways to use Blockchain technology, the most common being is cybersecurity. The military, healthcare industry, and finance are interested in its security features that provide transparency for data transmission between parties involved during transactions and protection against tampering or hacking on both sides of the said transaction, ensuring no one can tamper remotely without detection.
Expert considerations before launching your own product
- Voice Activated Computing
- Artificial Intelligence
- Biometric Identification
- Custom Mobile Development
- IoT & Smart Home Devices
- Bots for Solacing & Health Care Automation
- Virtual Reality (Virtual Games & Virtual Tours)
- Augmented Reality
- Blockchain Technology
- Expert considerations before launching your own product
- Final Words
The future of business is digital. You can be a part of that future by creating your own product and launching it to the world through these 9 trends we’ve covered today.
If you want help, contact JS Panther for all your product development needs from start to finish.
Reach out today if you need an expert opinion on any aspect of developing a new online service or physical good before going forward! And to receive a 100% FREE roadmap of your vision.