By Jocelyn Bell
April 7th, 2021
BURLINGTON, ON
What industries were some of the most profitable in 2020, and how are they achieving this? We took a closer look at three here!
The world of business is filled with so many interesting sectors nowadays, but there are still some that stand heads and shoulders above the rest. Let’s take a look at some of the most profitable industries operating this year.
Profits come from growth and growth is the result of wise investing and patience. Image Source: Pixabay
The gaming industry that attracts a younger crowd has events that involves thousands of people from around the world.
Gaming
Without a doubt, gaming is proving to be one of the biggest industries of the moment. Brands like Mr Green as a prime example are leading the expansion of safe betting and casino options across the USA and Canada. What’s more, there has been a massive boom in esports growth. It is slowly moving from being a niche hobby into a more mainstream business. With that will come bigger sponsorships and more opportunities for people in the industry.
Gaming at casinos is also growing – especially for the on-line locations that put a gambler right at the table.
The marketplace has so far exceeded $1 billion and this is just set to get bigger. Top matches are also pulling in figures akin to major sports events like a FIFA World Cup Final.
Even in the wider industry there are massive strides forward being made. Sony is lining up to release the PlayStation 5. Though we currently have little idea about when this release will be, it will hopefully be as innovative a release as its previous incarnations. Gaming as a whole is on the rise. Though many dismiss it as “just playing games”, this then leads to them missing out on some of the incredible opportunities available in this exciting development in the gaming universe.
Development in the software field has sky-rocketed with public companies registering big price increases. The opportunities with private companies ready to go public are immense.
Software Development
As we move towards a world that becomes more and more reliant on technology, we are going to need more software developers to help us achieve our goals. There have been many moves to introduce coding and other digital-based skills to young children in the classroom, so they can begin to pick up things that might help them when they are ready to enter the workplace later in life.
Not only have there been calls for software that covers a variety of new tasks within a workplace or home, but there have also been calls to make many more multi-purpose software hubs. Business owners don’t want to transfer data between multiple programs to get the results they need. They want to be able to plug everything into the one portal, so that they can get back results that have already been parsed and analyzed into a format they understand. Software developers are keen to meet these demands, and it makes for an incredibly profitable industry.
Property
Homes in many markets are selling well above the asking price. Major gains are being made.
With property prices moving up at an incredible rate, there is no better time to be involved in the real-estate business. In the Burlington area alone, sale prices are up 17% compared to the beginning of 2019. There are lots of opportunities at both ends of the market here. Developers who want to focus on the high-end, luxury market will find plenty of things to play with. There are always new property trends and new tech that you can introduce to the right property.
At the other end of the scale, you could choose to work in the affordable housing markets. There is and always will be a need for affordable property. This sector will help to create homes and houses for those who need them the most. Choosing to get involved with this area of the real estate sector is incredibly charitable, and it could result in some brilliant business dealings for anyone brave enough to try.
These are just three of the many industries proving to be profitable in 2020. No matter where you look, there is a way to make money in a sector. It will take a lot of hard work, and a great business idea, but it is more than possible. Start thinking about a business you could launch in one of the above sectors now.
