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There are a number of industries that have migrated to online services and grown exponentially in the US and even in states such as Pennsylvania. These industries include retail, healthcare, banking, gambling, and more. This is because online services offer several benefits over traditional methods. They are convenient, efficient, and affordable.
In this blog post, we will discuss some of the most booming industries that have switched to online services. We will also explore the reasons why they have been so successful!
Why have industries decided to migrate to online services?
Although we highlighted a couple of them to begin with at the beginning of this article, the reasons are numerous, although the most common one is convenience.
Online services offer a level of convenience that is unparalleled by traditional methods. They are available 24/7, 365 days a year. This means that people can access them at any time, from anywhere in the world. They are also much faster and more efficient than traditional methods.
Indeed, the number of people in Pennsylvania and across the US that have access to online services and the ability to connect to the internet will have played a significant role in the decision-making process for many industries and the companies that operate within the sector as it means they become even more accessible themselves.
According to figures, 78.9% of people living in PA have high-speed internet at home, with 99.7% of the state offering wireless internet connections to its residents, while 94.6% of the Keystone State can access wired connections.
With this in mind, it does not come as a surprise to learn that many of the companies and industries to have migrated to online platforms and offering their services digitally have been able to grow exponentially and achieve levels that would have been able to accomplish if they had not decided to convert operations, or at the very least, look to expand them virtually.
Which industries have been able to experience the benefits of migrating online?
Naturally, there are many different companies across a variety of different industries in Pennsylvania and across the US, to have been able to experience significant and exponential growth since migrating their operations online.
Let’s take a look at some of them below…
The first industry on our list is retail. Retailers have been some of the biggest beneficiaries of the switch to online services. The reason for this is that online shopping is highly convenient. Customers can shop from the comfort of their own homes and have their purchases delivered right to their doorstep. In addition, online retailers often offer lower prices than brick-and-mortar stores.
Online shopping has completely changed the way that consumers get the products and services that they require, and this is a trend that has continued to evolve as time passes by.
Gambling is another industry that has seen explosive growth thanks to online services, especially since the law was changed and amended. Following the ruling by the Supreme Court in 2018, Pennsylvania was one of the first states to decide to implement regulations to allow online casinos within its borders.
Online casinos allow gamblers to place bets from anywhere in the world. This has made gambling much more accessible and affordable for many people, while also potentially increasing the interest in one of the world’s most popular pastimes that residents of the Keystone State may never have been able to experience before.
Indeed, we have already seen a positive trend within this market, as the BetMGM launch in Pennsylvania proved that there is significant growth being experienced in the state, while the number of players and revenues that continue to be generated consistently increase year-on-year.
Recently, it was revealed that the state had managed to generate $1,232,309,138 from iGaming in the fiscal year of 2021/22; an increase of 37.35% on the year before which had generated $897,216,020 in revenues from internet wagering.
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Healthcare is another industry that has seen tremendous growth thanks to online services. Patients in the state of Pennsylvania can now book appointments, order prescriptions, and even consult with doctors remotely. This has made healthcare much more accessible and affordable for many people.
The move to migrate services to the internet has also benefited many firms operating within the industry. Healthcare providers now have greater access to patient records, allowing them to make better decisions about their health and prescribe the right type of medicines needed.
Banking is another industry that has benefited greatly from the switch to online services. Online banking allows customers to manage their finances from anywhere in the world. This is extremely convenient for people who travel frequently or have busy schedules. In addition, online banks often offer better interest rates than traditional banks.
As you can see, there are a number of industries that have migrated to online services and grown exponentially as a result.
Should there be any concerns regarding the migration of companies and industries online?
The growth of companies and industries that have moved online has been nothing short of impressive and it is clear to see the success that has been enjoyed. However, some experts have raised concerns about the long-term sustainability of this growth.
One of the main concerns is that many companies are relying too heavily on online services. If there is a major problem with the internet or a power outage, then these companies will be severely affected. In addition, many people who work in these industries may find themselves out of a job if the company decides to move its operations back offline.
Another concern is that the growth of online services may lead to less competition in certain markets. For example, if all retailers move their operations online, customers will have fewer choices and may pay higher prices.
Only time will tell whether these concerns are justified or not. In the meantime, it is clear that the growth of online services in the US – and in Pennsylvania in particular – shows no signs of slowing down.
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