Overview of start-up market in 2021
The start-up market has been showing huge growth in the last years and even pandemic couldn’t stop it. Some industries are being disrupted more intensively than others. At Radency we’ve recently analyzed 503 startups in Europe and the USA with open positions of software engineers (which indicates active development phase) to determine which domains are booming in 2021.
Among all startups we analyzed, 11.5% (58 start-ups) were connected with the financial sector. Fintech “miracle” didn’t really come as a surprise. Due to lockdown restrictions, billions of financial operations had to be done remotely which strengthened fintech positions on the market. Moreover, many people that traditionally used offline bank services had to shift to online consequently the number of users increased significantly. The interest to fitech keeps rising making it the most appealing industry for entrepreneurs.
RETAIL & ECOMMERCE
A very logical second place with 8.9% (45 start-ups) share belongs to retail and ecommerce. Lockdown for the whole world meant adjusting our buying habits toward online. Already existing online marketplaces grew exponentially, retail business digitized, and new retail and delivery startups popped up like mushrooms.
2021 pushed healthcare to new heights with 7% (35 start-ups) share in our sample. More and more healthcare apps and platforms highlight the variety of challenges facing the healthcare sector and how rapidly emerging technologies can be applied.
If you were wondering, what other domains are popular with entrepreneurs, here are a few more:
Collaboration & HR have their 6.6% (33),
Marketing & Advertising 6% (30),
Media and Entertainment took 5.8% (29),
Real estate - 3.4% (17),
Transport & Logistics - 3.4% (17),
Travel & Hospitality - 3.2% (16).
It’s worth mentioning that a big chunk of startups (~9%) were about AI and Data, not necessarily connected to a specific traditional domain. Which is an interesting trend worth exploring further.