Many innovative technologies will
continue to be introduced as the world evolves, although some industries may
take longer to adapt and integrate new technologies into their products and
services. This year we expect massive results and innovations across different
sectors and industries.
Innovations unlocked by technology grows at a rapid rate yearly. Major disruptions like a pandemic, always reveal opportunities for technology to advance a society. In Nigeria, the pandemic forced many industries to adopt technology in nearly every facet of their operations. Taking a closer look at the technology trends that are likely to bring significant innovation and growth in the near future: food delivery, health, Agric and insurance. These industries appear to have a promising future.
Food Delivery Industries
The demand for food delivery was at an
all-time high during the pandemic. This gave rise to FoodTech. FoodTech
startups combine food science and technology to enhance the service delivery of
the industry by using Internet-based technologies for the preparation and
distribution of food. Foodtech like Jumia food, Chopnownow, ourEdenlife, and
boltfood have made food delivery easily accessible to anyone with a smartphone.
Health Industries
Nigeria’s health care system has gone
from being comparable to the rest of the world in the 70s and early 80s, to one
of the world’s most underfunded sectors. As the sector struggles to cater to
the health needs of nearly 200 million people, an innovative technology scene
has created a new wave of startups focused on combating challenges in Nigeria’s
health sector. An example is helium health which helps medical institutions
document and record their patients’ medical history. Med-plus has a platform in
which a patient can upload his prescription and also have it delivered to his
location. Health-plus runs one of West Africa’s largest integrated pharmacy
chains and also provides a platform where loyal customers are rewarded via a
scoring system.
Agricultural Industries
Agric-tech platforms have become the
new face of modern-day Agriculture. These platforms offer promising benefits
ranging from good dividends to high return on investments to promising
investors. The funds are then invested in agricultural projects that will yield
the required returns to pay all the stakeholders (farmers, investors, and
Agric-tech platform owners) at the end of a production cycle.
According to statistics, Agriculture accounts for over 20 percent of
Nigeria’s GDP with an arable land area of 34 million hectares: 6.5 million
hectares for permanent crops, and 30.3 million hectares on meadows and
pastures. Farmers need a productivity boost and technology is providing that
with the rise of Agric tech companies like Thrive Agric, Farm crowdy, among others.
Insurance Industries
The insurance industry started
experiencing a revolution with the adoption of Insur-Tech. InsurTech became the
major growth driver for industrial innovation throughout the insurance
industry. With the diverse range of wealth management products, everyone can
live without the worries of the future. There are innovative insurance products
for protection, savings, and reward systems. Insur-techs like Casava, Curacel, Tangerinelife are
rising to build products that cater and provide insurance to individuals and
corporate entities.
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