Like most industries in Canada, startups have had a terrible 2020. Many promising startups fizzled once the COVID-19 pandemic surged across the globe, though some have managed to eke out small gains. However, only a select few that picked the right trends were able to adjust to the new normal and thrive.
Guest author from Canada Michelle Thomas looks at current market conditions and shares her views on what she thinks will be the biggest startup trends for 2021. Click here to find out more about Michelle.
As most of us around the world are in some form quarantined at home due to the pandemic, digital industries have become indispensable to our day to day lives. For instance, while the entertainment industry as a whole has struggled, gambling trends have migrated online, where digital casinos continue to rake in revenue. A large number of other industries are looking to their example and gearing up to face 2021, in anticipation of the COVID-19 vaccine.
We look at some of the startup trends that have risen to prominence in 2020, and what we believe will continue to be key drivers for new and emerging startups in 2021.
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Online Education
The education sector took a hit when COVID-19 forced schools and colleges around the world to shut down. Educational institutions were forced to innovate in order to continue to provide education to their students.
They were forced to go digital and look to teach students online and also carry out digital tests. Some schools in Canada tried to reopen quickly as they were not comfortable or did not have the tools to carry out online learning but due to the persistence of the pandemic, they had to make changes and provide digital learning.
In the end, online education emerged not only as the safest way to conduct classes, but also the least likely to have a negative impact on student outcomes. The online education boom covers not only K-12 and university classes.
Previous years also highlighted the steady growth of corporate education, which surged due to executives’ preference for online classes that allowed them to keep working. The COVID-19 pandemic has made the online option even more attractive to safety-conscious executives.
Due to these factors, many experts predict that online education technologies will continue to be one of the biggest product trends for 2021.
Online Gambling
The land-based casino industry took a beating due to the pandemic as casinos across the world shutdown. However, the online gambling industry in Canada flourished as Canadian players turned online to get their gaming needs met at online casinos like 1xslots.
One of the predominant gambling trends in 2021 is going to be the rise of online casinos not only in Canada but around the world.
Working from Home
Startups have found that the enforced remote working arrangements have, in fact, been beneficial to their growth. With less costs for office space, maintenance, and utility bills, startups are able to operate with a much leaner profile.
In Canada many of us are now gone used to working from home. Some even prefer this option now over working at the office.
However, there are still many question marks about the future of remote working. Security is a primary concern, as well as the difficulty of completing projects that require coordination between multiple office departments.
As remote working becomes a more accepted form of office work, more improvements will be needed to bring the experience up to par with the standards of the traditional office.
Several startups in the remote working industry are poised to boom in 2021 in response.
For instance, Abodoo, a freelance job platform that matches remote employers with employees has made steady gains as more qualified individuals are submitting their profiles. Bluescape, an SaaS company, has also made waves for the intuitive platform that allows for visual collaboration between remote workgroups.
Remote working is one of the biggest trends this year. Startups that focus on improving the field’s efficiency are set to become the one of the biggest technology trends 2021 will bring.
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Telehealth Care
COVID-19 spreads most rapidly in large crowds in unventilated indoor spaces. As more hospitals and other healthcare institutions fill up with COVID-19 patients, other patients may feel safer with telehealth care, where they can speak to their primary care physicians over the internet.
Most health problems do not require a personal meeting between patient and physician. Telehealth care rates are surging in 2020 due to increasing awareness of this. As with the previously highlighted trends, the greater public’s resistance to these innovations has eroded with the pandemic.
More people are finding that telehealth care is more convenient for them, without any significant compromise in terms of care.
In just a few years, projections of American telehealth users have risen from around 70 million during initial estimates, to almost one billion in recent estimates.
Startups geared toward the telehealth industry are widely expected to take advantage of this trend in 2021. Some of the more notable telehealth trends experts predict will surge next year are the use of Artificial Intelligence and Machine Learning to assist healthcare staff and hospital administrators improve medical care and billing procedures.
Conclusion
If you are looking to start a business in 2021 in Canada, pick any of the above trends, and you are bound to increase your chances of success.
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