Ready to launch a business in 2022? Here are three industries that are poised for growth this year.
The past two years have shown us that entrepreneurship can thrive even during challenging times. If you are an entrepreneur at heart and are ready to launch a business in 2022, here we examine three industries that are poised for major growth this year.
Sustainability, environmentally friendly and eco conscious are at the forefront of consumer minds. Now, more than ever, consumers are looking for green alternatives to products already on the market. Consumers are also willing to spend more on products that are sustainably manufactured and have a very specific eco focused mission.
“According to NYU Stern’s 2020 market research, “sustainability-marketed products grew 7.1x faster than products not marketed as sustainable.” More people than ever are aware of the impact of their actions on the environment, and this is reflected in their shopping behavior. According to GWI’s research, 52% of consumers want products with less or recycled packaging, 48% want more affordable eco-friendly products, and 44% want products with more natural ingredients.” (Webflow)
Digital Events and Conferences
With the pandemic still disrupting many facets of life, businesses, conferences, and everyday meetings have all gone digital.
“Companies have discovered that moving events to a fully virtual or hybrid model opens up participation to many more people than would otherwise have access. Lawrence Coburn, co-founder of video-chat startup Twine, noted that event planners were seeing four to five times the participation in virtual events over their in-person counterparts.” (Webflow)
Along with this emerging industry, there is opportunity. Whether you are able to provide a service, or have a product idea that could simplify aspects of online life, now is your chance to grow within this field.
With supply chain bottlenecks causing global shortages, it is clear that the entire transportation industry is in need of modernization. Driver shortages, staffing shortages and just the overall stagnation of the industry means that it is ripe for innovation. If you have experience in the transportation industry and an idea on how you can streamline it for businesses and stakeholders, it’s time to get going.
The American Trucking Association underlines the industry growth in its US Freight Transportation Forecast to 2022. The primary insight in this report predicts that the U.S. will see a 24 percent increase in freight tonnage in 2022, producing a 66 percent increase in revenue for the industry. The bulk of that increase for next year, and the next decade, is occurring in the trucking segment.
Licensing an Invention
Often when we talk about entrepreneurship, the thought of licensing an invention isn’t at the forefront of people’s minds. However, this is a great way to bring your product idea to life while leveraging the experience of a seasoned manufacturer.
For many inventors a licensing agreement is often a great option since it lets them develop a product, but then puts the expenses associated with commercialization on a more experienced manufacturer.
A licensing agreement is a deal between the owner of a patent, brand, or trademark and someone who wants to use the patented or trademarked goods and services. (Upcounsel)
With a licensing agreement, an inventor (the licensor) develops an invention and then protects that invention through a patent, copyright, trademark, or trade secret, and thus creates intellectual property (IP). The inventor—the owner of the intellectual property—then licenses the invention to a second party (the licensee) whose responsibility is to commercialize the invention. As compensation for allowing another party to use its intellectual property, the licensor will receive a royalty.
There are many types of licensing agreements: trademark licensing, copyright licensing, patent licensing, software licensing and merchandise licensing. Intellectual property licensors use three main types of licensing agreements: exclusive license, non-exclusive license and sole license. (Read about each type on Upcounsel)
- Read our Case Study that details how our team worked on turning a consumer product idea into a manufacturable product for licensing to a large international retailer.
- Read more about licensing your invention in our blog post, Licensing Agreement Basics for Startups.
Make 2022 the year you launch a business and go after your dreams.
Have additional questions about product development? Send us an email at email@example.com
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.