2019 was a year of substantial growth for the online market, with ecommerce sales surpassing an impressive £3 trillion – that’s a whopping 19.9% growth when compared with the previous year, which is no small feat. But while online shopping might account for a large proportion of the revenue generated annually online, it’s certainly not the full story, and a range of other industries that rely on the internet to conduct themselves are quickly overtaking the traditional money-makers to take centre stage.
From the latest and greatest apps to some of the most innovative food ordering and delivery platforms, the biggest fortune in the online world is often being made elsewhere, and from up-and-coming new entries to those that are experiencing burgeoning growth and are tipped for big things in 2020, we could see a further shift over the next twelve months.
If you’re looking to invest in a growing industry this year with the chance to secure a robust nest-egg for the future further down the line, then online is the only place to put your money. Unsure which industries are set to make the big bucks in 2020? Here, we round up some of the biggest players.
Online casinos
If you can’t get enough of the adrenaline rush of a night at the casino, you’re certainly not alone – and these days, you no longer have to get dressed up and head out for the evening to get your fix. Some of the best casinos you can find on the Internet make up for a £40 billion per year industry that is certain to continue its growth spurt in 2020. The only question is, to what extent?
Allowing players to immerse themselves in games such as roulette, baccarat and poker, anywhere, anytime, it’s little wonder the online gaming world is experiencing a boom – and is following fast in the footsteps of the digital nomad trend for working remotely from wherever, whenever, as the desire for time and location freedom grows.
One of the fastest growing industries in recent years, it’s one that only continues to gather momentum. In the United States in particular, we could see big things in 2020, thanks to the legalisation of sport betting in the country back in 2018.
And with artificial intelligence and machine learning having taken over the market, there is still plenty more to come from the world of online casinos. And, with set-up and running coming in at a much lower cost than bricks-and-mortar casinos, it could soon eclipse the more traditional way to play.
App development
App development grew 19.4% over the past year alone, and the outlook for the next five years is looking just as impressive. Research by IBISWorld has revealed that the industry is set to continue its rapid expansion in 2020 and beyond – though at a slightly lesser pace than in previous years due to the fact that, with smartphones now firmly established in the public psyche, saturation could be on the horizon.
Advances in app technology, such as Augmented Reality, could be next on the cards, and with it could come a whole new breed of innovative app and a new era for smartphone use, too. Both enterprise and establishment numbers are expected to grow in 2020 – but with no dominant players in the somewhat fragmented market to date, this could be about to change.
Online food ordering and delivery platforms
Online food delivery has been enjoying a huge popularity over the past couple of years, with delivery platforms such as Deliveroo and Uber Eats – allowing diners to enjoy all manner of cuisine from the comfort of their own homes – now operating far and wide across the UK. But fine dining delivery platforms such as Supper, which bring luxury fine dining into your home in London, have transformed the industry.
Luxury food delivery services are expected to experience substantial growth in 2020, expanding further outside of the capital and becoming more accessible than ever. It’s never been easier to host a fully catered dinner party from the comfort of your own home, and all at the click of a few buttons on your smartphone.
2020 holds plenty of promise for the online world – a space where trends are traditionally fast moving and growth can be rapid. And, with more businesses than ever moving to fully online, we could yet see a time where physical stores, entertainment venues and restaurants become a thing of the past. Let’s not rule them out just yet though, because at this moment in time, there is plenty of room for both. But it goes without saying that, even in this day and age, the internet is a place of huge untapped potential – where you can never quite predict what is going to be next.
