What Small Tech Businesses Are Most Successful in 2022?

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It has been some time since the last big tech boom and we are all set for another one. It��s time for small business owners to get their game plan ready to take on the world once again. Small businesses have always been in trend and will continue to be so in the future too. Small businesses that leverage technology and digital tools tend to have higher productivity, great efficiency, and lower costs than their competitors.

The fields of small tech business include developing software, hardware, mobile apps, artificial intelligence, and virtual reality products. These businesses are also nimbler, allowing them to change and pivot quickly as market conditions shift.

This blog post will tell you 5 of the most successful businesses that are most likely to succeed in 2022 (and beyond) and how you can capitalize on this opportunity to build a profitable company.

1. Internet of Things (IoT)

The Internet of Things (IoT) is one of the hottest small tech business ideas for 2022. IoT is the idea that all devices, including smart appliances, computers, sensors, and more are connected to each other through the Internet. This connectivity allows devices to share data with each other and with their users, IoT devices can be programmed to act autonomously or they can be manually controlled by their users.

Examples of IoT products include:

smart home devices (i.e., smart thermostats)
virtual assistants
smart sensors that can track inventory levels or monitor traffic
smart farming equipment, and more

Since IoT devices collect and transmit data, they have the potential to generate a lot of revenue for their owners. It is estimated that by 2025, IoT will add $6.2 trillion to the global economy.

Outlook: The Internet of Things is still in its early stages, but it��s definitely a growing industry. IoT is expected to grow to $19 trillion by the year 2030.

2. Remote Working and Collaboration Tools (Best Video Conferencing Camera)

As remote and hybrid working becomes more and more common, businesses will look for tools that make it easier to stay connected with their team members. Communication tools like videoconferencing, virtual whiteboards, and online collaboration software are great for keeping all members of a team connected and, in the loop, so that nothing falls through the cracks. These tools also make it easier for team members to work from home, which will increase as the remote work trend continues to expand.

Examples of best video conferencing cameras:

Coolpo AI Huddle Pana
Coolpo AI Huddle Mini

Coolpo��s video conference cameras are designed to leverage online collaboration and video conferences. The Pana is an all-in-one 360 conference camera that has a dual positioning technology that can track the voice and gestures of meeting participants and also has a Meeting Flex? System that allows it to operate in Zoom, CISCO WebEx, and other video conferencing software.

Meanwhile, the Mini is ideal for hybrid meetings that involve one or more presenters. It has a six-microphone array system that allows beam forming, echo cancellation, and noise reduction.

Outlook: Remote work is expected to increase as the economy grows and tech advances, so there��s definitely room for growth in this market. Read more about remote work here.

3. Cloud Computing and Data Storage

The use of cloud computing services, like cloud data storage, web hosting, and serverless computing, is expected to grow exponentially in the next few years. This growth is due in part to an increase in the use of AI and machine learning software, which requires lots of processing power. Cloud computing services are designed to provide access to additional computing power when needed, so they��re a natural fit for AI solutions. As more companies use AI, they��ll look to use cloud computing services to help offload some of the processing power required by AI.

Examples of Cloud Computing and Data Storage:

iCloud- used for videos, documents, photos, and more.

Google Drive - an advantage of using GDrive is that it provides encrypted and secure access to your uploaded files which you can share safely.

Dropbox- is a secure, private, and reliable choice for data storage.

Salesforce- one of the pioneers of cloud computing using their CRM software

DigitalOcean- provides various solutions such as website hosting, cloud VPN, big data computing, cloud hosting for Blockchain, and so much more.

Cloud Computing and Data Storage have a lot of benefits that outshine disadvantages. Some of those are flexibility and efficiency.

Outlook: The cloud computing industry is expected to experience significant growth over the next few years. Cloud computing is still a relatively new market, so there are lots of opportunities for entrepreneurs to get in early and build a competitive advantage.

4. Artificial Intelligence (AI) and Machine Learning (Conference Camera for Teams)

As businesses implement their AI-based solutions, they��ll need to invest in the infrastructure needed to maintain and scale these systems. In addition, they��ll also need to ensure that their data is properly formatted and ready to be used by their AI systems. Ready-to-use data sets can be found within the expanding category of data services known as data feeds. These data feeds are offered by a wide range of providers, including websites, social media platforms, and other organizations.

Example of a conference camera for teams that have Artificial Intelligence (AI) and Machine Learning:

Coolpo AI Huddle Mini

This video conferencing tool automatically recognizes participants who enter and leave the video conferencing room and camera range. Remote participants see the faces of everybody onsite as it offers a 110-degree wide-angle view with individual headshots with real-time video feeds. Moreover, it has an AI-powered gesture recognition that permits meeting participants through their gestures. When a participant raises his/her hand, presenter mode will activate where the Mini automatically focuses on him/her.

Outlook: AI technology is expected to see significant growth over the next few years as businesses look for new ways to increase their productivity and efficiency. The global AI market is expected to reach $38.9 billion by 2022 and grow at a compounded annual growth rate of 42.2%.

5. Virtual and Augmented Reality (VR/AR)

VR and AR technologies are still in their early stages, but they can potentially become one of the largest tech sectors in the near future. VR and AR technologies allow users to interact with digital content in a way that feels real and in which they can physically move around and interact with their surroundings. VR and AR are still being developed, but as they become more advanced and accessible, more companies will implement these technologies.

Examples of Virtual and Augmented Reality products are:

PlayStation VR
Valve Index
HTC Vive Cosmos
Microsoft HoloLens.
Also, AR extends to smartphones through apps and games like Pokemon Go and Snapchat.

Outlook: The VR and AR market is expected to grow quickly as these technologies become more common. By 2022, the AR/VR market is expected to reach $80 billion.

Conclusion

As new technologies come to market, they often create entirely new industries and many of these industries also create new types of small businesses that are much easier to start than traditional businesses. For example, as the Internet of Things (IoT) grows, it will create a huge demand for software developers who can create apps for all the new IoT devices being built. In fact, many small tech businesses are already hiring software developers to create their new products.
Would you like to schedule a demo with our Brand Ambassadors? Contact us today so we can tell you more about our AI-integrated devices for your everyday business.