If you have been paying attention to the stock market and some of the newer businesses gaining a lot of momentum recently, you may have noticed that some sectors were growing faster than others. For anyone hoping to invest in a new business or industry in 2021, looking at the recent results is a crucial step to determine the validity of their investment.
Below, we’ll look at some of the fastest growing sectors last year.
Cryptocurrencies
For many people, cryptocurrencies are still a bit of a mystery. Of course, there are lots of people around the world making a lot of money from their investments in this growing industry and this isn’t expected to stop anytime soon. According to Beauhurst, the cryptocurrency industry experienced 1,533% growth in deal value between 2019 and 2020. With huge investments from the likes of Crowdcube and Seedrs, this industry is quickly growing. Currently, the biggest name in this market is Revolut.
Digital security
Digital security is more important now than ever before with more people shopping online over the past year. Users want to be sure that their payments are secure and that hackers are not going to be able to easily access their private details. Digital security is a priority for anyone accepting payments online from the casino NetBet to larger retailers like Amazon. There was around £976m deployed over 75 rounds in this industry over the course of 2020. Digital security is growing fast and will be for quite some time.
Quantum
How much do you know about quantum computing and how it really works? Essentially, devices that use quantum computing are typically less energy-intensive and will operate much more quickly. With this in mind, the quantum industry has been quickly growing with many investing in the sector over the past few years. In the UK alone, there has been around £90.2m deployed across the Quantum sector since 2011 so this is certainly one to watch.
Fintech
Finally, we should all be aware of the Fintech sector which has been growing rapidly for quite some time now. This is the UK’s best performing start-up sector with tons of businesses popping up all of the time. Within Fintech, you’ll find contactless payments, alongside e-wallets and these can be extremely profitable. Between 2019 and 2020, the amount invested in this sector increased by 35% to £3.29b so it is clear just how profitable it can be.
Final verdict
We have only touched on some of the fastest growing industries as there truly are so many that you should be aware of. If you are thinking about investing in tech this year, we recommend looking into quantum or fintech as these can help to bring in a large ROI. Just make sure that you do your due diligence before you make any kind of investment and this should help you to make the right decision in the end.