I was recently at a seminar in California and one of the main topics was about web 2.0, so naturally we began discussing what we thought were some of the emerging markets online, and what opportunities we see that lie in the future. In other words, what's on the "cutting edge", and of course, how do we capitalize. Some of the topics that we discussed were mobile media, social media, video and domaining. Although a couple of these have already shown tremendous growth, they're far from being peaked-out. I think that the buzz surrounding domaining is pretty interesting. It's definitely not a new concept, but it seems that more and more people are realizing the potential in this virtual real estate. Also, with Google's interest in the mobile market, I'm excited to see where we stand in the mobile world within 5 years. As a newer marketer, I'm still in the process of choosing my expertise or specific niche. I found that I have that in common with quite a few online entrepreneurs in our industry. With the internet, things move so fast that it seems the guys who get in early are usually the ones that see the best chance at success. SEO for example is still a great field that is technical enough to have a bright future, so long as search, as we know it, remains relatively the same. However, I look at most of the experts in the field, and most of them have the same story. They began in the mid to late 90's doing it for themselves back when search was an emerging market. I think that I'm personally searching for a similar situation now, so I can best invest my time in something that is still in it's infancy and hasn't hit critical mass yet. The opportunities are endless, but I'm always interested in hearing others opinions on what they think will be the "next wave".
My best advice: get past the "next wave", "shiney object" syndrome that nearly everyone in IM has. Figure out what you're good at, something that no one else can do quite like you, something that brings value to others' lives. Follow a successful model and carve out a niche as the best in your field. i.e. Don't focus on the technology, focus on what people want and how you can help them. If it happens to become the next wave that's great, you'll be a pioneer, if not you'll have a solid business and be making a healthy living.
I agree with Kyle. The next wave doesn't matter nearly as much as people think it does. Go where you have an advantage over others. Go with areas that you really enjoy, or have specialized knowledge. Rob