Five Online Industries Going for Growth

Posted: 16th March 2015 09:09

For any businessman or entrepreneur wanting to either expand their portfolio or start a new business, the choice of which sector to venture in to is perhaps the most important decision to make. With the spread of the internet continuing at a brisk pace, online industries are a good choice; huge customer bases and a vast array of potential niches both make for positive upside potential, after all. With so many online industries out there though, which are the true boomers?
Online Gaming
EU figures show that the online gambling industry is the fastest growing service activity within the online sector in the region, annual growth rates nearly exceeding 13%. Online casino sites such as Betsafe that offer casino games such as poker, roulette and slots have been quick to take advantage of the loosening of national and international gambling rules, and with the enormous number of mobile device-owning consumers that now exist, the possibility of making large sums of money via gaming apps is great.
Online Consulting
As businesses and consumers swiftly adopting internet-enabled services, the need for consulting services is ever-growing. Companies want to know how they can best take advantage of eCommerce, data mining, payment processing and approaches to online marketing, and moving towards providing these services could be a savvy move.
Fantasy Sports
Currently estimated to be worth $1.4 billion, the fantasy sports market is booming. Mobile devices have very much been behind this huge figure, as sports fans wanting to indulge in a social, relaxing game take advantage of their new-fangled devices. Fantasy site FanDuel recently raised a staggering $70 million in investments from venture capital and private equity firms, proving the appetite for these sites and apps.
Food-Based eCommerce
The days of fast foods and ready meals are very much numbered as consumers adopt a more natural, holistic approach to their food habits, and as such many are turning to the net for their superfoods. Buying food over the net, often via subscription services, is proving popular among customers wanting to discover new and interesting products.
Discount Travel
Secret Escapes, a London based travel site, allows customers to take advantage of exclusive discounted accommodation and travel rates, seeing its membership double between 2013 and 2014. As the recession subsides and the average person sees their paycheque grow, travel is going to be back in vogue, and prospective tourists are going to be going online to find the top deals.