The pandemic has not been easy on anyone businesses have been scrambling around trying to make money, adapting to the current situation as we fight the covid-19 pandemic.
While some entrepreneurs have struggled during the pandemic many other new businesses have emerged according to the situation and are running smoothly making a good profit.
Companies have to alter their working style and adapt to the environment accordingly to sustain themselves in the market. When work school and every other aspect of life shifted to home many technologies and tools were created and this was a trend in 2020 so how will business work in 2021 what are the business trends in 2021?
With 2020 being a closed chapter now businesses are looking forward to creating an optimistic opportunity to grow.
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Wave Of Innovation And New Faces Of Entrepreneurs
During covid-19 one sector consistently saw a rise that is digitization. From online services, IT solutions, work-from-home tools to streaming services all have grown significantly.
e-commerce companies have found new ways of reaching out to customers even during the pandemic, IT sectors have grown tremendously Tata Consultancy Service an Indian MNC was named the biggest IT Company in the world in May 2021 with a market capitalization of 169.2 Billion Dollars.
More than 12 startups joined the unicorn club after various funding rounds, work from home, school from home gave rise to the use of apps like zoom, google meet, skype, WebEx, etc.
And if we come to the streaming services, they have really seen a boom, the regular serials and programs were all shut down gradually and people stuck at home needed a source of entertainment to lighten up, streaming services bought various originals and latest movies to their platforms, new subscribers all increased significantly by 300% overall the streaming companies have had a great year and this is only going to increase in 2021.
Marketing
The digital marketing sector really crawled through the tough period heroically, the number of businesses going online, creating online stores, using SEO, paid Ads, social media all increased. The last year had changed social media completely most businesses have now found it a safe haven to promote and sell their products and services.
The money on social media promotion will keep on increasing and even small businesses are no exception many students and young ambitious people have started their small business online and are promoting it through social media making good money.
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Virtual Reality, IoT, and AI
Virtual Reality, Augmented Reality, IoT, AI, and Big data are all going to scale high with more and more innovation. Every business needs big data, AI, and other technological aspects to run its business smoothly without any interference.
This year is a groundbreaker for all these technologies VR and AR will emerge powerful than ever before, IoT is driving forces of creating smart cities, and innovating businesses with the help of 5. AI and big data will be personalized and embedded than ever before helping businesses to create a better business by collecting mass data and targeting the right audience to increase the inflow.
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