Six digital markets that still have the potential to grow internationally

If you keep up to date with all the newest tech developments, you will know that there is a lot of development and innovation in every corner of the tech world. You might think that some digital markets have expanded as far as the modern economy will allow, as streaming services seem to offer every possibility under the sun, social media has hugely expanded the world of advertising, and e-commerce is now the usual, preferred way of shopping for many consumers. 

However, there are many areas that are still in the process of growing, maturing, and expanding internationally. Below are six of the most exciting digital markets that have the potential to expand even further and develop an international reach. 

Smart home technology and IoT

Smart home technology and the Internet of Things is one digital market that is set to continue expanding in the next few years. As of yet, very few people have had access to smart home technology like smart appliances and doorbells. Notably, some of the kinks in the systems still need to be worked out prior to mass adoption of the technology. However, you can rest assured that this sector will increase in visibility, popularity, and market attention in the next five years. 

The opportunities of fintech

Fintech has revolutionized the way that we spend, save and send money every day. Most of us enjoy the convenience of at least one online bank, such as Revolut, N26, or Chime, and understand just how much safer and easier our online transactions are, thanks to the development of the fintech industry. That being said, regulations surrounding fintech are slow to catch up and some regions are skeptical of online banking. As attitudes towards fintech become more trusting and accepting, the industry will be able to expand its reach and its offerings much more. 

E-commerce expansion and development

If you are like millions of other people in the world, you probably make the majority of your purchases using one form of e-commerce or another. Although it may feel as if e-commerce already dominates most of our spending habits, the truth is that other countries around the world have revolutionized e-commerce and we are just waiting to catch up. 

In Singapore, you can order fresh fish from your local farmer’s market during a livestream displaying the day’s catch, in Vietnam, you can use one app to book your taxi and also pay for your meal, and in China, you can watch a livestream of your favorite influencers trying on different clothes and buy those items as you watch. There is a lot of opportunity for the expansion of e-commerce – all that is required is creativity and an open mind. 

The next fronter: the online casino 

The last decade has witnessed an exponential expansion in the growth of the online casino industry. Online casinos have become increasingly popular and thousands of different online casinos have launched themselves onto the market in order to compete. A competitive market is good for consumers, and this holds true for the online gambling industry. 

Online casinos compete for the attention of consumers through offering different registration bonuses, seasonal promotions, and varying game libraries. As the interest of consumers in online gambling continues to increase and regulations around the world loosen, the market will keep expanding. Finding the right casino for your region can be difficult, as the competition is fierce, however, all of the relevant information for finding the right online casino is detailed on this worldwide online casinos page. 

Online gaming and streaming possibilities

Over the course of last year, many people who previously would not have played video games picked up consoles purchased the nostalgia-inducing Nintendo Switch or logged into old gaming accounts. There has been a rise in the popularity of video games for the last decade and the upward trend shows no sign of slowing. The market for games has diversified and now an entire genre of indie games featuring complex narratives and artistic aesthetics has captured a previously untapped market. 

More than that, however, has been the way in which the gaming industry has diversified. Subscription-based games and in-game purchases are now seen as the new frontier for monetizing gaming. Another way in which gaming is being monetized is through the popularity of streaming platforms. Streaming platforms such as Twitch have become so incredibly popular that politicians are joining in with other Twitch streamers to spread their messages. The popularity of streaming is likely to increase as previously unreached markets and audiences gain access.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)