As per Investopedia, a tech business is a business that focuses on research, development or distribution of technologically based goods and services to the market. The technology sector offers the manufacturing of electronics, software development, computers, or products and services relating to information technology.
Over the years, technology has transformed our daily lives. Anything can be done with only a few clicks on smartphones or laptops like shopping, learning, healthcare, holiday planning, etc. It is impossible to live without technology in today’s dynamic world. Technology has made our lives easier, faster, better, and more enjoyable.
With technological advancement, tech business ideas have started to pop up across markets. Technology has provided lucrative business opportunities for entrepreneurs like Elon Musk, Steve Jobs, Mark Zuckerberg, Jeff Bezos who are considered to be among the world’s biggest tech entrepreneurs whose imaginations and innovations have contributed to the advancement of technology. They have started their businesses from scratch.
The best part of the tech business is that you can start with a small investment and can grow over time. However, you will require some technical skills to start a business in this industry along with commitment, persistence, courage and consistency. There are no shortcuts.
In this article, I would provide 15 profitable tech business ideas which can be started with low investment.
Profitable Tech Business Ideas:
- Artificial Intelligence
- Mobile Application Development
- Mobile Gaming
- Big Data Analytics
- 3D Printing
- Drone Videography
- Gadgets Repair
- Web Design
- Tech Blog
- SEO Consulting
- Publishing EBook
- Affiliate Marketing
1) Artificial Intelligence:-
This sector has been tremendously increased for the past several years. Artificial intelligence is the ability of a system or a program to think like humans and mimic their actions. Technologies like machine learning, natural language processing, computer vision, statistics are all part of the AI landscape. AI has found its applications in almost every business sector such as Alexa and Siri- Amazon and Apple’s digital voice assistants, travel and navigation, social media feeds, smart cars, music and video streaming. They are now being implemented in a variety of industries, including manufacturing, healthcare, apparel, agriculture and real estate.
According to Statista, the global AI Market is expected to grow around US$ 126 billion by 2025. Before getting started with an AI business, you should have a sound understanding of programming, software engineering, and data science.
Success Story: “BigThinx” is founded by Shivang Desai and Chandralika Hazarika in Bangalore in 2015. “Bigthinx” is specialized in Artificial Intelligence for fashion, retail and fitness. “Bigthinx’s Lyflike” software uses AI to create personalized virtual 3D avatars that look, measure, and move like you by taking just three photos.
Robotics is going to be a booming field in the future. In our minds, a robot is a machine that looks and behaves like a person. According to the Robot Institute of America, Robots are defined as reprogrammable multifunctional manipulators designed to move materials, parts or specialized devices through various programmed motions for the performance of a variety of tasks. A robot can assist you, interact with you and even take your place if necessary. Robotics is a science of designing or building applications of robots with the help of artificial intelligence, machine learning, computing and the right software implementation.
According to Statista, the robotics industry is expected to grow around US$ 210 billion by 2025. Thus, it will create more golden opportunities for techpreneurs. Before getting started with this business, you should have a sound knowledge of programming languages such as C, C++, Java and Python along with skills in science and applied mathematics.
Success Story: “Grey Orange” was launched in February 2011. It offers a range of robotic systems and solutions for warehouses, distribution, and fulfillment centers. It is founded by BITS Pilani alumni Samay Kohli and Akash Gupta. Samay Kohli had been part of the team that created one of India’s first humanoid robots – AcYut.
3) Mobile Application Development:-
“Mobile is the future of everything”- Forbes.
The growing popularity of smartphones is perhaps the most significant technological development in recent years. Smartphones allow us to do stuff with just a single tap through mobile apps like shopping, reading, searching, etc. And the way the market is trending, it could prove to be very profitable business ideas.
Mobile app development refers to the process of writing software that is designed to run on various smartphones, tablets and computer tablets. It is beyond the coding which includes the strategic process of defining, designing, building and launching a successful mobile product. You can also make a mobile app for small and medium enterprises.
Success Story: “CRED”established in 2018, provides its users with amazing rewards for paying their credit card bills. Your data are very safe and secure in this “CRED” app. It is founded by Kunal Shah. He holds a bachelor’s degree in philosophy from Wilson College in Mumbai and MBA dropout from Narsee Monjee Institute of Management Studies, Mumbai.
4) Mobile Gaming:-
The Mobile Gaming industry is the fastest growing industry in India. It is a great option for entrepreneurs who love to play games and sound knowledge of programming language. Gaming is the most common way of entertainment for everyone. You must have played popular snake games on Nokia phones in the past. This iconic game was played by 350 million people around the world. Mobile Games are more popular nowadays, as they can be easily accessible to customers through the play store and most of the games are free to download or cheap to buy. That’s why the growth of mobile gaming is incredible.
According to Statista, the global gaming market is expected to grow US$ 100 billion by 2023. Before getting started with this business, you should have a sound knowledge of programming languages such as Java, C#, Objective C and Swift. You also need creativity, artistic ability and some more technical skills to make interesting games.
Success Story: “Ludo King”, India’s No.1 gaming app during Coronavirus Lockdown which is developed by Mumbai-based Gametion Technologies. With 10.3 million downloads in September 2020, “Ludo King” is the most downloaded mobile game in India. Vikash Jaiswal is the Founder and CEO of Gametion Technologies, the parent company of “Ludo King”. He was very fond of digital games right from his childhood.
5) Big Data Analytics:-
In recent years, the market for big data analytics has grown significantly. The use of data analytics is enhancing every year by the organization. Big data is a term that refers to the large number of data sets that may be structured or unstructured. A huge amount of data is generated every day by businesses and users due to the rapid growth of mobile data traffic, cloud computing traffic, and the rapid development of technologies such as artificial intelligence (AI) and the Internet of Things (IoT). Hence, big data analytics is required for the process of interpreting large data sets and get accurate results in a short duration of time. These massive data sets are extracted, prepared and blended to provide analysis for the business that leads to better strategic decisions and increases the sales of the company. Retail and E-commerce is an industry that can have the maximum benefit of big data analytics.
It involves different analytics techniques like machine learning, data mining, natural language processing and statistics. A background in IT, analysis or industry knowledge are prerequisites to start a business in this sector. According to Statista, the global big data industry is expected to grow around US$ 274 billion by 2022.
Success Story: “SynctacticAI” is an end-to-end data science platform started by Chethan KR and Ashish in February 2019 that handles the entire data life cycle management of a company. Their platform links with multiple storage systems and providing services like cleaning the data set, structuring it, and building machine learning models.
The agricultural sector has been the backbone of the Indian economy for many years. The word “agri-tech” refers to the fusion of agriculture and technology. It is the use of technology in agriculture to maximize output and efficiency. It can be achieved by the use of robotics, big data, artificial intelligence, or some other approach that is needed to resolve the challenges that the agricultural industry faces from soil issues, climate, and irrigation to the supply chain gap.
According to Inc42 Plus analysis, the global agritech market is expected to grow around US$24.1 billion by 2025.
Success Story: “KrishiHub”, a Bangalore-based Agri solution firm, was founded in 2016 to empower farmers through technology, design, and data science. Fresh vegetables are procured directly from farmers and delivered to businesses such as restaurants, canteens, and hostels through “KrishiHub.” It is founded by Jyotiska Khasnabish. He did his master’s from IIIT Bangalore with a Data Science specialization.
7) 3D Printing:-
3D printing technology offers huge growth opportunities in the coming years. 3D printing, also known as additive manufacturing, is the method of creating three-dimensional solid objects from a computer-aided design model. In comparison to a conventional method, a manufacturer can create a working prototype in just a few hours using this new technology. Today, Industries including Engineering & Design, aerospace, medical, education, architecture and fashion all are actively using 3D printing technologies.
According to Statista, the global 3D printing market is expected to grow around US$ 63.46 billion by 2026. Before getting started with the 3D printing business, you should require 3D CAD software, a 3D printer, expert training, and reliable service.
Success Story: “Simpliforge Creations” provides 3D prototyping and manufacturing solutions for products from the FMCG sector to niche domains such as dentistry, prosthetics, jewelry and construction. It was founded by Amit Ghule in 2018 in Mumbai. They also started the partnership with Hyderabad Institute of Technology and Management (HITAM), which aims to promote and support entrepreneurship, innovation, and research in the city.
8) Drone Videography:-
In recent years, it has been one of the most rapidly growing fields of photography. It can give media access to that place with unique perspectives and compositions that would normally be impossible to achieve for the photographer. A drone is a flying device with multiple propellers that can be used to hover or fly in any direction. Drones make aerial photography much easier with high-quality, while also making it affordable than in the past.
There has been an increase in the demand for drone photography from the infrastructure, architecture, civil engineering, agriculture, and event industry around the world. Before getting started with a drone videography business, you need to get certified to fly a drone and check local regulations on commercial use. According to Statista, the global Drone videography market is expected to grow around US$ 63.3 billion by 2025.
Success Story: “Gravodrone” is founded by Priya Iyengar and Raakesh Ramaswamy in 2015 in Bengaluru. It is a tech startup providing services of Aerial Photography / Drone Photography, Aerial Videography, Aerial Inspection, Wind-turbine Inspection / Windmill Inspection, Structural Inspection, Civil Engineering Inspection, Aerial Survey, Aerial Mapping and many more.
9) Gadgets Repair:-
Nowadays, the gadgets repair industry is growing rapidly due to the increasing use of tech devices. This is one of the most profitable business ideas in today’s technology-driven world. Although several manufacturers have a one-year warranty on their products, it’s very costly to get it repaired after the warranty period. So, it has caused a corresponding rise in the demand for maintenance and repair services of electronics items. This business repairs damaged equipment such as televisions, stereos, computers, mobile phones, tablets and gaming devices. You can also provide door-to-door services to your customers to avoid the hassle of going to the service center and stop them from paying extra money.
Before you start working as a gadgets repairer, it’s recommended to get some training and learn all internal parts of gadgets. According to Statista, the Gadgets repair industry is expected to grow around US$ 139 billion by 2024.
Success Story: “Phixman Technologies Pvt. Ltd”, launched in 2015 which is the largest mobile phone repairing chain in India, also the biggest electronic service provider. It was founded by Mr. Shaad Rehman. He is a mechanical engineer. He worked as a Senior Manager with Asahi India Glass Ltd, a glass manufacturing and Supplier Company in India. He was very passionate about technology and gadgets. So, he decided to focus on a “gadget repair startup”.
Cybersecurity is one of the most in-demand fields for IT professionals. You are at risk for a cyber attack at any time if you have a website, online accounts, or other web-based frameworks. The term “cybersecurity” refers to the security offered through online services to protect your online data. Cybersecurity is important because it protects from cyber risks like data breaches, cyber-attacks, malware, phishing scams, and other digital threats. Cyber threats and privacy issues can have a significant effect on your enterprise. As a result, the government, companies, and individuals are all searching for ways to avoid cyber-attacks. That’s why there is a huge demand for cybersecurity services in the market.
According to Statista, the cybersecurity industry is expected to grow around US$ 224.48 billion by 2022.
Success Story: “Lucideus Tech”(Safe Security), founded in 2012 in Delhi by Saket Modi, Rahul Tyagi, and Vidit Baxi, allows organizations to measure and mitigate cyber risks in real-time. It also recently launched the SAFE Me app.
11) Web Design:-
It is one of the most profitable tech business ideas that are always in demand as every business needs a professional website to create their brand. A web designer is responsible for creating the design and layout of a website. It also encompasses many different skills and disciplines including graphic design, copywriting, UI/UX design and SEO.
This business has immense opportunities as it is expected to grow around US$ 13.6 billion by 2026. Before getting started with the web design business, you should have a sound knowledge of HTML and CSS. You can also create multiple themes and sell them online using a different platform.
Successful Story: Sreelakshmi Suresh was awarded as the youngest web designer at age of 6 and the World’s youngest CEO. She was born in Kozhikode in Kerala. When she was 8 years old, she designed a website for her school, Presentation High Secondary school. She launched her own start-up “eDesign” in 2009. Sreelakshmi Suresh has received several awards and other recognition.
12) Tech Blog:-
If you are from a technical background and you want to share your expertise, another simplest idea is starting a tech blog. Along with expertise, writing skills are also required for this business. The idea is to provide quality content consistently about various technologies such as Mobiles, Computers, Home Automation, Robotics, Gadgets, Tech News, Product Reviews, and other related topics. Eventually, your blog will become more popular as you provide more valuable information on that. After getting popular, you can also monetize your blog through various sources. This idea can be implemented with very low investment.
It requires patience, passion, dedication, smart work and discipline to be a successful blogger. You can make a few hundred dollars on ads and affiliate marketing depending upon content strategy and monetization method.
Success Story: Amit Agarwal started writing a Tech blog in the year 2004. Amit worked in Hyderabad for a few years after graduating from IIT Roorkee with a degree in computer science. Amit quit his corporate job to become India’s first professional Tech blogger after moving to his hometown Agra. He was awarded by Google recently with the “Google Developer Expert” title for GSuite and Google Apps Script.
13) SEO Consulting:-
SEO is search engine optimization. Every day, 90% of people spend time on Google, searching for various types of information, websites, and services. SEO is one of the digital marketing techniques which can be helpful for the better optimization of a website and rank their website to appear on the first page of search engines like Google, Bing, Yahoo and Baidu. So, this industry is growing very quickly and has a very bright future for techpreneurs. You can easily start this business as an individual SEO services provider with a small investment.
Before getting started with the SEO business, it’s recommended to have certified training on SEO. According to Statista, the global SEO market is expected to grow around US$ 77.6 billion by 2023.
Success Story: “Webnamaste” was launched in 2009 in Calicut, India. It is a full-service web marketing company that helps customers to reach their audience using a combination of Search engine optimization (SEO), Social media marketing (SMM) and Paid search marketing (SEM & PPC). It is founded by Radhakrishnan. Today, he has a team of about thirty young, bright and smart professionals.
14) Publishing EBook:-
If you are passionate about writing, publishing eBooks are one of the most effective ways to transform your passion into a business and produce a passive income. EBook is an electronic book that is published in digital forms. It can be easily accessible by downloading it over the internet. It can be read on the computer, e-reader (the Amazon Kindle), smart-phone or tablet. You can start writing eBooks on any topic that you are expertise on.
Amazon (Kindle Direct Publishing) is one of the best eBook publishing companies. You can choose other eBook publishers like Apple’s iBooks, Barnes & Noble Press, Kobo, Smashwords, Lulu and Draft2Digital. You can also sell your eBooks directly from your website or blog.
According to Statista, this industry is expected to grow around US$ 1.6 billion by 2024.
Success Story: Sudha Nair started writing her first novel “The Wedding Tamasha” in 2015 after working as a software engineer for eight years. After getting rejection from traditional publishers, she decided to self-publish with KDP (Kindle Direct Publishing). Sudha is now a well-known author who has published nine books on KDP so far.
15) Affiliate Marketing:-
It’s one of the quickest and simplest way to earn money online through digital technology. According to Pat Flynn, Affiliate marketing is the process of earning a commission by promoting another’s company product or services. For example, if you’re an Amazon affiliate and you suggest home décor items, and people buy it through your affiliate link, Amazon will pay you a commission. Traditionally, a salesperson can only sell products from one company. As an affiliate marketer, you can sell products from various companies and earn commissions from all of them.
You can promote products like eBooks, phone accessories, wearable devices, fashions, gym equipment, baby care and many more through your blog, social media platform or community. It’s a great way for anyone to make passive income with affiliate marketing. According to Statista, the global affiliate marketing industry is expected to grow around US$ 835 million by 2025.
Success Story: Kulwant Nagi, belongs to a small town Fatehabad in Haryana who started affiliate marketing in 2012. He promotes his affiliate products on many platforms and was getting an income of $500 -$800 every single day.
If you are interested to read more about the success stories of tech businesses, kindly refer to the following website.
Read More: https://yourstory.com/
Do you know any Tech business ideas with low investment? Please feel free to share your thoughts and experience in comment section.
Thank you so much for your kind support.