Growing Markets in the Technology Industry
In the business world, the best way to make a splash is to get in on the ground floor of a growing industry. Sometimes that can be hard to do. In some cases, it’s hard to take notice that an industry is growing until after it is too late. The ability to notice when an industry is about to take off or is just a dying trend is what separate the great businesses from the bad ones. It’s also a trait that most companies look for in leaders for their companies.
Afghanistan Cellphone Market
One example of a market that could be worth billions to a company is the growing cellphone market in Afghanistan. Since 2007, this industry has been on the rise, and it shows no signs of slowing down as of 2015. Despite this being a relatively new industry for the country, around 150,000 people in Afghanistan subscribed to a monthly cellphone plan. Entrepreneurs, such as Ehsanollah Bayat, were able to take advantage of this with quick action. This resulted in getting in on the ground floor of an industry that has a lot of growth potential.
If there is one market that has stood up to the test of time, it’s the video game market. Around the world, video game sales continue to rise thanks to not only dedicated handheld devices but also the rise of smartphones. One reason why this market continues to thrive is because of the indie scene. Companies like Nintendo and platforms like Steam have made it increasingly easy for indie developers to get into the video game market. The result has been a steady flood of games that are made for much less than AAA titles Unlike other technologies that are booming in select countries, the video game industry is one of the few that is enjoying a worldwide increase in sales.
Countries all over the world are looking for ways to generate clean energy. Solar power has always been an option, but until around 2013, the technology to mass produce solar power was too expensive. This caused companies to shy away. However, as technology has improved, so has the manufacturing process of these panels. The result is cheaper solar panels that companies can mass produce. Noticing a downward trend in the price of these panels, some companies bought huge supplies to create their own solar energy farms. These farms provide them with a cheap way to produce clean energy for the masses. However, with millions of markets around the world looking for the same kind of energy, this is one market that will continue to grow for years to come.
Great leaders are the people who can spot a trend that will become more than just a fad. They can spot technology that will spark an economy and act quick enough to be part of the founding fathers of that idea. Doing this propels a company into greatness. Since technology is always advancing, companies have to stay vigilant to changing trends and have awareness to spot when it’s time to bring new technology to third-world countries.