Do you know which tech sectors performed the best in the EU last year? Find out more about this here in this article as we explore.
Within the tech industry, there are many individual sectors that are extremely profitable. Some sectors outperform others on an annual basis while others are slowly but surely starting to make their way to the top. Across the EU last year, we saw sectors such as e-commerce, artificial intelligence and big data experience a lot of growth.
Here, we are going to look at some of the highest-performing tech sectors in the EU last year. Find out more about these sectors below.
Big Data
If you are not familiar with big data, then you should know that this often refers to a large volume of structured and unstructured data. While this might not sound like a sector, you’ll find that big data is key to improving businesses and analysing how things work. Big data is used across many industries such as retail, healthcare and education. Last year, big data hit new heights and became one of the highest-performing sectors in the EU.
Artificial intelligence
Artificial intelligence has been improving more and more over recent years as additional industries start to implement this technology. Investor and philanthropist Tej Kohli is among many including IBM and Veritone who believe that AI will change the world. The reason for the growth of AI is that this technology is really starting to be understood. We use AI in many of the products and services we require every day and new start-ups are popping up everywhere. For those in the EU, AI is only getting started.
E-Commerce
Another extremely successful sector of the tech industry in 2020 was e-commerce. This is a very large sector due to the sheer number of e-commerce sites now available in the EU. As more people switch to online shopping and high street stores across the EU shut down, more customers are going online. This has had a direct impact on the success of the e-commerce sector, and this is set to grow even more in the future. Even Facebook is getting a slice of this with their latest Facebook shopping feature.
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Cyber Security
Finally, you’ll find that cyber-security was extremely profitable in the last year with many new businesses obtaining high profits. In 2020, more people are worried about hackers gaining access to their accounts and for big businesses, this threat is even more serious. With the introduction of GDPR, cyber security has never been more important. While this sector performed well in 2019, we expect to see even more growth in 2020.
Final Verdict
In the EU, there are some very profitable sectors and those mentioned in this article are just a few of these. If you are operating in the tech industry, you must carefully consider the performance of these sectors and get involved with them if you can. Many of these sectors have a cross-over so don’t ignore them as they could benefit your business in 2020.
