What areas of the business require a lot of research and development?

One of the greatest desires of any entrepreneur is to find a profitable business idea in a profitable field of business. Admittedly, the recipe for miracle is hard to find, but with a bit of hindsight we realize that there are areas that are interesting even if they require a lot of research and development (R&D). These areas offer great prospects for long-term success. So it will be necessary to develop untiring perseverance to know a particular research day but it is absolutely necessary when it comes to health. Here are a few.

The field of connected things

Connected objects are designed to allow users to connect to Internet networks anywhere and in unimaginable conditions. Some are already available in the Health, Sports and Wellness, Equipment and Automotive sectors. The most famous of them are “smartwatches” (French connected watches) and “Google Glass”. In a study conducted by the International Federation of Mobile Operators (GSMA). Globally, there were 12.3 billion connected objects by the end of 2021, according to US market research firm IoT Analytics.

Cooperative consumption area

If you agree with those who believe that “use of possession controls,” you can take advantage of the field of cooperative consumption. It is the barter of services and products, and is the oldest form of sharing and exchange in the world. Today, almost all sectors are interested in barter, because it is considered more economical and more humane. Old sites for exchanging things (clothes, household appliances, vehicles, motorcycles, etc.) are increasingly being updated to meet the expectations of Internet users. We are also seeing the emergence of interpersonal leasing and crowdfunding platforms and systems based on the sharing economy of encouraging the borrowing of things between people (vehicles, appliances, etc.). To the extent that these exchanges of services or products are based on a technology platform, the planned investment in research and development remains significant.

The field of big data

This is the field of computer data that is collected daily in companies, cities, regions and countries. This data relates to websites, social networks, online transactions, GPS signals from smartphones, health information, etc. In the face of the large volume of this data, traditional information management or database management tools are unable to process it. The field of big data is undoubtedly the alternative that is needed to create tools capable of processing large amounts of computer data (text, videos, images, etc.) in record time. However, it requires significant research and development procedures.

Pharmaceutical industry

The pharmaceutical industry has undergone profound change since 2000. This industry dedicates about 12% of its turnover to research and development. In both emerging and developed countries, medical needs are not yet covered in the fight against certain diseases: diabetes, hypertension, cancer, AIDS, Alzheimer’s, which leaves room for new companies to position themselves in this field. By investing in this area, you can guarantee a large profit margin for yourself. COVID has taught us how important research is in this sector and made us realize how long it takes to bring a trusted product to market!

field of biotechnology

Biotechnology is the technology of transforming living and non-living things into other goods and services. Biotechnologies are applied in several ways: genetic engineering, microbiological engineering, protein engineering, etc. Each application requires significant resources in research and development.

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