30 Best Tech Startup Ideas for Beginners in 2024

At this point, everybody knows: tech startup ideas have high earning potential if you do things right.

But just in case you doubt it, consider that the average startup exit since 2007 has been $242.9 million. Also, consider that the tech industry is responsible for 9% of economic output in the US alone, generating a whopping $1.8 trillion.

That said, there are thousands of failed tech companies for every successful business. To increase your chances of success, you must start with a great tech startup idea because, as the saying goes, “the market always wins.”

Moreover, the tech industry has progressed beyond just software and app ideas, which means tech startup ideas are now a dime a dozen. These days, you can create a successful tech startup by combining digital savvy with knowledge of any industry at all. And the best thing: entrepreneurs are made, not born.

At the very core, tech startup ideas are like every other business idea: identify a commercial problem and develop a tech-based solution. But some tech business ideas will always be superior to others.

To help you choose the right idea for your startup, we've compiled a list of the 30 best profitable tech startup ideas for beginners in 2022.

Onward!

What are the Best Tech Startup Ideas to Watch for in 2022?

1. Virtual Reality Company

There seems to be no apparent end in sight for the growth of the Virtual Reality (VR) industry, despite the leap in market size from $6.2 billion in 2019 to $16 billion in 2022.

And as if that weren't enough, the International Data Corporation forecasts a CAGR of 77% in the overall global spending on Virtual Reality (and Augmented Reality) from 2019 to 2023. In absolute terms, this is expected to take the market to $120 billion by 2026.

If this sounds exciting, get to work brainstorming a concept for your VR startup.

There are three main categories of VR companies: VR product companies, VR experiences, and other community-centered models. To decide the right one for you, evaluate the interest in each category in your location, find your would-be competitors in the space, and figure out a way to create a unique VR offering.

While the first thing that comes to most people's mind when they think of VR is gaming, thinking that way will only tether you to one facet of the VR industry, ignoring the several other aspects of this massive ecosystem with tremendous revenue potential.

2. Augmented Reality

AR (Augmented Reality) is a growing trend in mobile computing and business applications. AR uses technology to deliver an enhanced version of the physical world through sound, visuals, or other sensations.

The companies behind AR products offer products that allow users to virtually ‘alter' their surroundings for functional or recreational purposes.

The AR industry is quite speculative and generates a lot of buzz. Popular AR projects include National Geographic AR installations, Lacoste AR shoes, Heineken AR bottles, PokemonGO, and AR hazard mapping (commonly used in the energy and utilities industries).

Like most people, you might wonder whether anyone uses AI every day or be skeptical about its potential as a viable long-term tech startup idea. To address those fears, consider that in 2019, 68.7 million people used AR at least once daily, and this number grows with each passing day.

There's undoubtedly a massive market for AR products. To truly understand the potential in this market, simply consider the number of people who have a hard time visualizing structures, procedures, objects, and processes.

Potential users that come to mind here include medical practitioners, urban planners, architects, eLearning platforms & education, interior designers, engineers, physics, game developers, game publishers, museums, and several others.

3. Telehealth and Virtual Medical Services

One of the most significant changes in the health industry in recent years has been the heavy involvement of technology in the distribution of medical services. Many companies are streamlining their service offerings for the medical industry.

Telehealth technology has been instrumental in our gradual but sure transition from live medical appointments to virtual ones. And as more and more health appointments are carried out virtually every day, the telehealth industry will continue to overflow with untapped potential that savvy entrepreneurs can take advantage of.

You might be skeptical about the market potential or effectiveness of telehealth. But research has shown that telecalling patients can resolve as much as 80% of all primary healthcare attention.

Furthermore, overwhelming evidence suggests that telehealth is just as effective—if not more effective—than traditional care across all disciplines.

Other benefits of telehealth services include:

• cost reductions.
• shorter waiting times.
• bringing much-needed healthcare to rural or remote areas.
• quick check-ins for at-risk patients.

The hallmarks of a successful startup in the telehealth space include:

• excellent cybersecurity.
• an easy-to-use platform.
• communication channels that allow seamless, stress-free correspondence between healthcare industry professionals and their patients.

4. E-commerce

While e-commerce has been around for quite a while now, it still has much growth potential. Shopify reports that e-commerce sales are projected to hit an incredible $7.391 trillion globally by 2025. 

Naturally, this bears far-reaching positive implications for enterprising individuals who want to launch their own tech startups. It means that e-commerce is here to stay and is well worth considering as one of the best tech startup ideas.

One thing that makes e-commerce such an attractive option is the low barrier to entry. You can start an e-commerce business quite easily from the comfort of your home with just a laptop, an internet connection, and products to sell.

But what if you don't have a product to sell? No worries; there's always dropshipping, an e-commerce fulfillment model that allows you to sell products you don't own or ever have to handle yourself.

Moreover, e-commerce platforms like Shopify, Squarespace, and Bigcommerce make it easy to build your e-commerce website without writing code. And marketplaces such as Amazon make it so that you don't need a website to start your own e-commerce business.

To snag a larger piece of the market for yourself, you can invest the time and effort to create your own e-commerce platform or marketplace—although this business model will mean competing directly with deep-pocketed online shopping giants such as Shopify, BigCommerce, and Amazon.

To avoid such competition, you can focus on a niche market rather than a broad one.

In all, no matter how many e-commerce tech startups emerge today, there are still a lot of opportunities in the space.

5. Edtech Startup

Off the back of an educational revolution spurred by the need for self-paced, hyper-focused learning materials designed to get busy professionals up to speed with specific skills in record time, online learning platforms have seen a recent boom in profitability, even though the industry has existed for quite a while now.

From full-time students to employed professionals, many look for adaptable educational solutions that suit their peculiar lifestyles. Edtech startups are stepping up to the plate and taking ownership of the problem, and the VCs are taking notice.

In 2021 alone, VC investment (venture and equity financing) in edtech startups reached a whopping all-time high of $20 billion, indicating strong faith in the potential of this major growth industry.

Besides institutions, schools, and other academic establishments taking their entire business online, many other organizations have already begun to design their own online training curriculums.

Another contributing factor is the boom in demand for online coaching services, demonstrating the vast opportunities for edtech as a tech startup idea.

There are several valid approaches to launching an edtech startup, including using AI, big data, and blockchain to make learning more accessible and enhance the overall experience.

6. Biotech

The Norwegian University of Science and Technology defines biotechnology as “technology that utilizes biological systems, living organisms or parts of this to develop or create different products.”

One reason biotechnology startups gain such wide acclaim, publicity, and support from investors and governments is their focus on improving the quality of our lives as humans.

This technology startup idea is more specialized as the strict governance policies of anything related to medicine make entering and navigating the biotechnology space challenging. So, while you surely don't need to have it, a background in the medical industry will make it a lot easier for you.

When a startup makes a breakthrough, its investors, entrepreneurs, and executives reap massive payoffs. And for many, the massive upside potential is worth the immense challenge they face along the way.

One thing about this industry is the need to be hyper-solution-focused. This must be your first consideration before getting into this startup niche.

7. Cybersecurity

If you've ever wondered how cybersecurity firms make money or why they even exist in the first place, consider this: everything we do these days—from hiring handypersons to banking—can be done online, and cybersecurity firms work behind the scenes to ensure our safety online.

The cybersecurity market is projected to hit $352.25 billion by 2026. This should help you understand just how important and potentially profitable this tech business idea is.

Cyberattacks are a real and present threat, and recent times have seen privacy concerns becoming top of mind for many organizations and individuals.

In the technology-driven era in which we live, all our information is in digital form, and there's pervasive concern about personal data falling into the hands of bad actors.

Moreover, we've seen an increase in the number of scams, ransomware, and malware all over the globe, further calling for more foolproof data protection measures.

As a cybersecurity consultant, your role is to evaluate your customers' security systems, run tests to verify their integrity, and offer advice on improving their defense against cyberattacks.

Trust is an essential ingredient for success as a cybersecurity startup. You need customers to trust you not just with access to their data and private information but also to choose you over the competition to safeguard their data.

This can be especially difficult for a cybersecurity startup since incumbents dominate the space.

8. Drone Company

Next up on the list of the best tech startup ideas is starting a drone company. From launching a drone photography and videography service to building custom drones, this industry presents diverse opportunities that any savvy tech entrepreneur can take advantage of.

Of course, the right business model for you will depend on available investment capital, your particular skill set, and the demand in your locale.

If you're handy with a camera and own a drone, then a drone photography service might be the way to go. There's an installed base of customers who regularly require such a service, from residential real estate agents who require aerial shots of properties to events and agriculture.

You can get on real estate platforms like Zillow and Redfin to find real estate agents in your area. Then reach out and pitch your services to them.

Drones are also now widely used in surveillance, and these days, there are even professional drone racing competitions with large cash prizes up for grabs.

9. Cloud Technology

As more people work remotely, there's an increase in the demand for cloud services, which makes starting a cloud technology company one of the smartest technology business ideas.

To start a cloud technology company, you'll need to invest in hardware—that is, servers—and software—that is, a hosting control panel. You'll also need to invest in marketing to find new customers and get them to trust you enough to store their valuable data.

This is only natural as data has become increasingly valuable, and rampant breaches have increased privacy concerns and regulatory scrutiny of data management practices. Companies must be careful about data handling and ensure the security of the data entrusted in their care.

10. Artificial Intelligence Company

Artificial intelligence (AI) encompasses technologies such as natural language processing, machine learning, computer vision, and many more.

In recent times, AI has moved from being the stuff of imaginative sci-fi stories to becoming an important part of our day-to-day lives, with the technology becoming increasingly sophisticated as its market potential grows.

As a rapidly growing industry in the tech ecosystem—the sector grew by 154% in 2019 alone—this tech idea offers myriad opportunities for tech-savvy entrepreneurs.

As AI becomes more common, you must develop innovative offers and ideas that challenge the status quo and set you apart. Consider the daily problems individuals and organizations face and develop unique solutions to them using AI.

11. Video Games

Did you know that the global game industry is larger than the Hollywood and music industries combined, with a whopping 2021 revenue of $108 billion?

It's safe to say that there is a massive market ready to buy your product, but the catch is that your game must be unique enough to stand out in the crowded marketplace.

Even if you only have an idea and no development skills, you can partner with a game developer to bring your idea to life.

Virtual Reality (VR) offers a whole new world of massive opportunities for the gaming industry. And as we enter the age of the metaverse, the collaboration between the gaming and VR industries will produce even more incredible opportunities.

12. Fitness Technology and Smart Accessories

It's no secret that technology has applications in practically every industry, and the fitness industry is not left out. Startups such as Strava, Peloton, and FitBit have already disrupted the way people exercise, and as time goes on, we're bound to see more innovation.

The fitness tech and smart accessories spaces show promise of continued rapid growth in the future. The market constantly needs new gear and technology, from wireless earbuds to fitness trackers and smartwatches with extensive functionality.

Especially in recent times, this niche has expanded beyond physical products to include digital products such as apps, media, and data that combine physical and digital products in creative ways. If you can marry a high-tech physical product with an app or other media relevant to your product, you'll set yourself up for massive success.

To succeed with a smart accessories startup, you must pay special attention to user experience.

13. Robotics Company

Robotics is a vast field that includes elements of computer science, mechanical engineering, electronics engineering, information engineering, and several other disciplines.

This field aims to create machines that move and react to sensory input, possibly even autonomously. The industry is projected to grow at a CAGR of 10% to hit annual revenues of $40.56 billion by 2028, all the way from $42.92 billion in 2018.

This isn't the kind of business you can start without a fair amount of personal experience or a Rolodex of seasoned engineers. But starting a robotics company can be a promising opportunity if you have these things going for you.

Start by assessing the problems that you could solve with robotics, then design products that meet these needs and fulfill those wants.

14. Autonomous Transportation

A subset of robotics, autonomous transportation was once the stuff of sci-fi books and movies.

But as the day wears on, we're getting closer and closer to true self-driving cars. We see them in our daily lives, and several city governments are already working to incorporate this technology into the public transportation systems.

A startup in this niche will require some experience or access to a network of experienced engineers. If you can somehow make it work, this tech startup idea has massive potential for profits.

15. Smart Home Technology

The market for smart home technology has seen a massive boom as people look for tools and ways to streamline their lives.

Smart home technology startups provide their customers with products that simplify everything from listening to music to charging their phones.

The key to success in this industry is to find the most innovative ways to automate everyday tasks at home and pursue automation to the point where your system requires next to no human interaction.

16. Streaming Service

Get this: as of May 2020, 62% of adults subscribed to streaming services. In 2022, music streaming services recorded 524 million users, while video streaming services recorded some 1.8 billion users, a total of over 2.3 billion users.

That's a huge market you could be tapping into by establishing your very own streaming service. If you're skilled at curating content around a specific genre of media, film, or music, you can find a niche whose needs are currently not being met and create a streaming service startup to meet those needs.

17. Legal Tech Startup

The legal system should be one of the easiest spaces to navigate when it comes to finding information, but that's often not the case. This is where legal tech startups come in. They seek to make policies, case law, and regulations easier to access.

With the various branches of law practiced today, this space is open to anyone with a keen enough interest to start a company.

18. Content Automation

Content is king. Most people create content regularly through social media platforms, whether they realize it or not.

Many seek ways to automate this content, but as soon as they find one way that works, technology changes, and they're right back where they started because the solution isn't viable anymore.

This is the problem that content automation startups aim to solve. Content automation startups seek to create viable, innovative solutions to the pains experienced by content creators.

As content and social media play an increasingly large role in many businesses' marketing plans, content automation software will continue to be a great opportunity for tech entrepreneurs.

Many businesses have accounts on several social media channels, from Instagram and Facebook to TikTok and Twitter. Each channel requires a different content planning, production, account management, and analytics approach.

Despite this glaring opportunity, there still isn't a widely accepted tool for omnichannel management, promotion, and analytics. You can create an all-in-one hub through which a social media marketer can manage and promote their accounts and analyze performance from a single dashboard more conveniently and efficiently.

19. 3D Printing

Here's another underrated tech startup idea: 3D printing. From applications in construction to human organs for transplantation, the 3D printing industry is steadily creeping into many sectors that require precision-crafted parts.

Now is a good time to get into this emerging industry as we've seen 3D printing costs go down in recent times. But having a 3D printer is not enough. You need to acquire expert knowledge before starting and be willing to advertise your services to attract customers to your tech company.

20. Portable charging devices

The portable phone charging industry has seen a boom in recent years as we've grown to be increasingly reliant on our mobile devices. Our mobile phones go everywhere with us, but it's still a far too common occurrence to have them die on us.

BCC Research published data that revealed that the portable phone charging industry is expected to grow by 6.6% annually from 2017 to 2022, going from $18.1 billion to $25 billion.

This rapid growth is driven by the fact that many newer phone models come with lower built-in battery capacity or higher power requirements without a corresponding increase in battery capacity.

With growing urbanization, increasing mobile phone penetration, and rising disposable income levels, the portable charging devices market will only grow larger as time passes.

Add to that the increased penetration of electronic gadgets that drain batteries faster, and you have a recipe for truly limitless market potential.

21. Health Tech

In recent times, there's been an increase in health awareness worldwide. Millennials and Gen Zs are more conscious of their health and are choosing to be intentional about leading healthier lives.

As a result, there are now many software products and mobile apps designed to help them on their journey. And you can also take advantage of this growing trend by launching your own health and wellness product.

With the right business plan, this area promises high scalability and bountiful profits for aspiring tech entrepreneurs.

22. Business Incubator

A business incubator provides everything tech startups need to grow, from funding to office space. If you have an ideal location and the ability to provide services to budding CEOs, you can start your own business incubator for tech startups.

You'll need to provide amenities such as electricity, office space, and internet connectivity. As with most other businesses, you can start small and grow along the way.

23. Natural Language Processing (NLP) Startup

NLP is a branch of artificial intelligence (AI) that aids machines in comprehending human language. It is frequently employed in tools like grammar and spelling checkers.

There has never been a better time to enter this field if you've ever thought about doing so. A wave of startups is emerging due to the availability of open-source NLP software.

NLP was developed over several years, but it wasn't until 2018 that AI researchers demonstrated that you could train a neural network once on a significant amount of data and use it repeatedly for various tasks.

Last year, a veritable ‘Cambrian explosion' of NLP startups and Large Language Models occurred. Google unveiled LambDa this year, a big language model for chatbot programs.

Then Deepmind unveiled Flamingo, a language model with visual comprehension, and later Alpha Code.

Just in July of this year, Meta announced that they had trained a single language model capable of translation between 200 languages, and the Big Science project released Bloom, a sizable open-source language model.

We are now at a point where many more commercial applications of NLP will start to appear.

Some of these applications will use open-source, publicly accessible platforms. It's almost like a startup gold rush to capitalize on this technology, and the major language model providers are getting into an arms race.

24. Non-Fungible Tokens

The emergence of non-fungible tokens (NFTs) has given those working in the startup sector a significant opportunity to access new revenue streams.

NFTs can be used to develop new business models, increase the utility of current goods and services, expand their market reach, and gain access to completely untapped potential customer markets.

NFTs are now being used by contemporary businesses in their marketing strategies, and the results are impressive.

Charmin, an American manufacturer of toilet paper, released several NFTs on the NFT marketplace Rarible in March 2021. In the same month, the highest bidder bid over $2000 for one of the artworks.

The entire “Transformative Taco” NFT collection from the fast food chain Taco Bell was quickly gone on Rarible.

Knowing how to make an NFT is now a requirement rather than a nice-to-have for the modern business as other major brands like Asics, Adidas, Team GB, Coca-Cola, and Nike have entered the NFT space.

25. Remote Work Software

The massive explosion of remote work in recent years is no secret.

With so many individuals and businesses now working away from a structured office environment, solutions to some of the attendant problems of remote work are required.

Software for work-from-home situations can come in various shapes and sizes, including video conferencing and communication platforms.

Whatever issue you point out, remote employees and their employers will be appreciative of any solutions you provide.

26. Online Job Boards

The process of looking for jobs has moved online. According to a Pew Research Center survey from 2015, 79 percent of job seekers had done online job searches, and that number has probably gone up since then.

Job boards are frequently consulted when people conduct online job searches. Employers who have open positions post them on online job boards.

Unlike job search engines, job boards don't typically gather listings by looking through other websites. Instead, a manager or employer enters listings themselves. By doing this, listings are made to be precise, pertinent, and short (i.e., no duplicates).

IBISWorld estimates that online job boards generate $4 billion annually and are expanding at an average rate of 14.6 percent in the United States. Online job boards that identify profitable niches have a lot of potential.

27. Internet of Things (IoT)

There are many names for the rise of the Internet of Things (IoT), including The Next Industrial Revolution, Industry 4.0, and The IoT Apocalypse.

The startups in this field are diverse and concentrate on tying together different products from various industries.

You might have an idea for an IoT startup if there is an application of IoT that will solve a problem in your industry.

No matter how you feel about the IoT's future, most people agree that it will be a disruptor in every sense. This isn't just true for Silicon Valley and tech companies.

Entrepreneurs are eager to start their own Internet of Things businesses. But in terms of comprehending the implications, if IoT were Mount Everest, we're still at base camp. Future IoT product offerings from each startup will vary, but there are some fundamental issues that need to be addressed.

First, apply design thinking when developing products. Using design thinking, you can identify a need that justifies an IoT product rather than hoping your product will create a need.

Second, understand that scaling an IoT business differs from scaling any other business. An IoT company's engineering for prototypes is very different from engineering for scale. People assume that if a tiny ant could lift 50 times its own weight, a human-sized ant would be able to do the same. But this is simply untrue.

Third, don't underestimate the importance of security. A Gemalto report shows that only 33 percent of survey respondents believe they have complete control over the data their IoT products collect. Each connected device represents a new “door” a hacker could break down. You must make security a priority from the beginning, even in early development.

28. Blockchain Startup

Blockchain technology facilitates the quick and easy exchange of data and transactions between individuals, businesses, and applications. A blockchain-based tech startup could essentially target any sector.

What do blockchain statistics indicate: which industry uses this tech the most?

The financial industry has the largest share of 46%, followed by manufacturing (12%), utilities (12%), healthcare (11%), government (8%), and retail and consumer (4%).

(Source: comparecamp.com)

The greater use may indicate better startup opportunities or, conversely, oversaturation.

Companies that want a better way to manage their projects, finances, and information can use blockchain services, which offer a public ledger. The blockchain is a technology that can be used for virtually any type of business transaction, despite being most frequently associated with cryptocurrencies.

In essence, the blockchain makes it nearly impossible to hack into a company's information, which is becoming increasingly important as virtual fraud grows.

But, more importantly, the blockchain enables unprecedented levels of communication through the use of smart contracts. These unique if/then statements are so adaptable that they can be used in industry projects in ways we can't even imagine.

If you are starting out independently, you should only need the cost of computers and internet access to develop your initial prototype. You'll also need liability insurance, which will vary in price depending on the limits you choose and the services you provide.

Finally, you should probably invest in advisors who can provide accurate information about how the blockchain is changing in the legal and public spheres.

Labor is typically the highest cost for blockchains because the business requires skilled individuals to design and sell the platform. You'll also need to factor in electricity, insurance, and the direct cost of renting office space.

Blockchains typically charge a one-time project fee or set up a SaaS model. They may also charge for transaction verification across their network.

One of the most significant advantages of blockchains is their ability to handle micropayments. These fees are typically paid in cryptocurrencies like Bitcoin or Ethereum.

29. Real Estate Tech

These days, it is not uncommon to find people living in one part of the world while working in another. As a result, the local real estate agents' ‘sold' signs on lawns no longer suffice.

Consumers looking for real estate, whether for rental or purchase, want to complete the entire process smoothly and preferably online, so any real estate tech startup that solves a problem along this continuum has a chance of success.

Regarding market opportunity, the potential for technology to transform the multi-trillion-dollar real estate industry has barely been scratched. This is especially true for commercial real estate, which has historically lagged behind residential in terms of technology adoption.

30. Data Analytics Startup

Starting a data analytics business could be a wonderful tech business idea if you have experience working with numbers and identifying patterns that indicate trends. The data industry is rapidly expanding, so get in early to stay ahead of the game.

Data is a commodity in almost every industry, and how that data is used often determines the difference between mediocre and massively successful businesses. Effective data analysis is an art that requires a combination of technology and human participation. Startups in this space can focus on various industries, as each has requirements for what they want to achieve with data analytics.

A data analytics firm converts raw data into meaningful information. This procedure is frequently referred to as “storytelling.” Data is organized to tell a specific story about a problem, process, or campaign. The analyst's job is to translate this story compellingly and clearly.

Data analysis startups frequently collaborate with entities and individuals who already track data. They must determine what the numbers mean once they have them. (Why do winter sales always fall? Will a decrease in tourism affect our bottom line? Do employees perform better when they get more vacation time?).

Data analysts help organizations better understand what's working, what's not, and where there are opportunities to improve by taking raw data and identifying patterns.

You'll need a dependable laptop as well as data analytics software. Tableau is a popular option that starts at $70 per month, whereas Zoho Analytics starts at just $22 per month. Other platforms, such as Looker and InsightSquared, provide customized quotes based on your specific needs and situation.

While you could certainly use a program such as Adobe Illustrator to create your data visualization sets, programs such as those listed above are designed to help organize, mine, and interpret data, in addition to visualizing it.

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