This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.

Most Innovative Mobile App Ideas for Startups and SMEs in 2020

Most Innovative Mobile App Ideas for Startups and SMEs in 2020

Friday August 30, 2019,

4 min Read

In the year 2020, mobile apps are expected to generate around $188.9 billion in revenues globally through app store purchases and in-app advertising. Mobile apps are central to the modern digital environment with 90% of a user’s mobile time being spent on apps. For startups and SMEs, focusing on the most promising mobile app trends may help them creating sustainable apps that capture the user’s imagination.

Some Promising Mobile App Ideas for 2020

Modern companies can leverage technology such as blockchain, artificial intelligence, internet of things etc to expand the capability of the mobile phone for the end user. In fact, new age technology can not only help startups create new apps but also refine existing app ideas, quite like the way iPhone’s virtual assistant Siri is a much better version of the PDA (personal digital assistant).

Let us look at some innovative mobile app ideas for startups and SMEs in the upcoming year 2020:

IoT based apps

IoT (Internet of Things) is a technology that creates a system of interconnected devices,  with the ability to transfer data or ‘talk to each other’ over a network without requiring any human intervention. An IoT based app on the phone will offer its users the ease and convenience of automating their work and home devices. For instance, an IoT app can provide smart car parking solutions to a user through his mobile phone.

In essence, IoT apps can help users talk to their smart devices and instruct them to perform tasks. For example, an app that lets you manage your security arrangements at home or a water quality monitoring app that alerts you when the water quality is not up to the mark for drinking purposes.

Blockchain technology-based app

Blockchain is an immutable and incorruptible technology that can carry out low-cost and verifiable digital transactions. It is managed by a cluster of computers and hence is not owned by any single organization, government or person. These features make blockchain an extremely democratic and safe technology for any transactions or contracts. Mobile apps based on this technology could ride the next wave of startup success.

Imagine a ‘smart contract’ app that can carry out the terms of a contract. Or an app that can transfer funds securely at a specified time once a pre-condition is met. Blockchain can be used for creating an app for generating legal agreements or managing payroll for small startups. It can reduce fraud by securing the digital identity of businesses who transact through incorruptible blockchain wallets.

VR technology-based app

Virtual reality (VR) is the simulated experience generated by tech applications for entertainment or educational purposes. VR needs an additional device like glasses or headsets which with the help of VR mobile apps can be used to give a simulated experience to a user. An example of a VR app is one which allows users to experience a cinematic experience with life like audio and visual cues.

AI based app

Artificial intelligence (AI) powered devices are already being lapped up by people for work and entertainment. Smart home devices like Google Assistant or Amazon Alexa are perfect examples of how AI based tools are enabling a smarter way of living life. AI based mobile apps can work across domains. For example, an AI app may remember your food preferences or your favourite restaurants. It can also keep track of your preferred events happening in and around you.

The above four segments showcase some interesting mobile app ideas for the next year. Based on some frontrunner technologies, these ideas can catapult startups and SMEs into the major league if executed well. In a sea of mobile apps and the associated conundrum, an innovative and formidable idea will shine through and bag the necessary eyeballs from venture capitalists and also attract consumers.

Mobile Apps 2020

Image Courtesy.