The New Year is upon us, and we can all feel that change in the air. Businesses across the globe are looking forward to a fresh start and a chance to set their goals high for the coming year. However, those of us who have been around for a while know that trends don’t come out of anywhere—they’re born from many different factors and influences over time. In this post, we’ll take an in-depth look at five major business trends that will impact business this year:
The internet of things
The Internet of Things (IoT) is a network of devices connected to the internet. It’s predicted that this will grow exponentially in 2019 and beyond, with millions more devices being added every year. This will have a big impact on business, as we’ll see below:
There are already over 7 billion IoT devices in use today – up from just 2 billion in 2016! And the number is expected to increase dramatically over the next few years, reaching 25 billion by 2023 and 50 billion by 2025!
The increased connectivity means businesses can access data quicker than ever before – meaning they can respond quicker too! They can also collect information about customers’ needs much more easily than before which helps them create better products or services for their clients/customers.
Virtual reality and augmented reality
Virtual Reality (VR) and Augmented Reality (AR) are new technologies that are growing business trends. VR is a computer-generated simulation of a three-dimensional image or environment that can be interacted with in a seemingly real or physical way through your senses. Augmented reality blends the virtual world with the real world to create new experiences and possibilities.
In 2022, we saw many companies get on board with this business trend and begin to invest heavily in these technologies, including Google which announced its Daydream platform for mobile devices at Google I/O 2016; Facebook’s acquisition of Oculus Rift; Microsoft’s HoloLens development kit; and Magic Leap’s secretive augmented reality technology which has received over $1 billion from investors including Alibaba Group Holding Ltd., Qualcomm Inc., Legendary Entertainment chairman Thomas Tull and Warner Bros.’ Steven Spielberg among others
Video streaming
Video is the future and very much a part of growing business trends. It’s the most engaging content type, and it’s one of the best ways to reach millennials. Video also happens to be one of the most shareable types of content on social media–meaning that if you’re not using video in your marketing efforts this year, you’re missing out on a huge opportunity!
It’s no wonder that video streaming services like Netflix and Hulu are growing so quickly: they provide an easy way for people all over the world who don’t live near each other (or even speak each others’ languages) to share experiences through entertainment or education.
Non-traditional marketing channels
The use of non-traditional marketing channels is an easy way to stand out from the crowd. Social media, online marketing, email marketing, and affiliate marketing are some of the most popular methods of driving traffic to your site.
Content Marketing: Content amplification is another way to reach new customers without spending any money on advertising (or at least not much). You can amplify content by using influencer marketing or by repurposing it in different formats like video or Slideshare presentations.
The rise of fintech and fintechs
FinTech is the short form for “financial technology”. It refers to the use of technology in the financial sector, such as mobile payments and electronic currencies.
Fintech refers to companies that use Fintech to create innovative products or services. These companies can be startups, but they may also be established banks or other financial institutions that are looking for new ways to provide customers with better services and products using technology.
Business trends like FinTechs have been driven by several factors: technological advances like cloud computing; an explosion in data availability thanks to smartphones; increased competition from tech giants like Apple, Google, and Facebook; growing demand from millennials wanting greater control over their finances (and less reliance on traditional banks).
Here are business trends to look out for this year
The Internet of Things (IoT). This is the concept that all devices and machines can be connected to the internet and communicate with each other. It will allow businesses to collect data from multiple sources, analyze it and create actionable insights based on the analysis. This will help them make better decisions about their products or services, as well as improve customer experience by providing relevant information at the right time. For example, you could receive an alert when your car needs repair work done or even remotely start your car’s engine when there’s traffic congestion on your way home from work so that you don’t have to wait too long in line!
Virtual reality (VR) & augmented reality (AR). VR allows users to interact with computer-generated images in real time while wearing special headsets; whereas AR superimposes 3D graphics onto real-world objects using smartphones or tablets
I hope that this article has given you some insight into what business might look like in the future. As always, it’s important to keep up with the latest trends and see how they can be applied in your own company or industry. If you need any help with that, feel free to contact us!
