Industries That Will Be Obsolete By 2020

BANGALORE:   Going obsolete by 2020? This is an interesting thought and an important question that needs to be considered by business owners from various industries to take a call or plan the future of their company. Noobpreneur.com asked members of the Young Entrepreneurs council to name the one industry they think will be obsolete by 2020 and their responses are listed below:

1. Metropolitan Taxi Systems

The centralized taxi industry has already suffered massive losses due to the rise of decentralized service applications like Uber and Lyft.

 In just a few years, Uber has expanded operations in several countries,    made a large chunk of profits, and will continue to do so. Also, revolutionary new technologies like self driving cars are expected to to be out by companies like Google and Apple bidding goodbye to traditional taxi services

2. The Postal Service

Today, the postal industry is on its last legs as almost all forms of communication processes are carried out via mail.

After reigning for a long time as one of the world’s largest communication provider, the usage of postal service today is restricted to companies to facilitate direct marketing owing to advantages such as low cost of postage, and government subsidies.

 If the governments stop doing this, and mail companies become privatized, the cost advantage will disappear and the size of the postal industry will shrink drastically.

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