If you have been following current trends, you will notice that we have entered into an exponential decade. Industries will blow up in 2021. Some have called it “the Fourth industrial revolution.” A phenomenal shift is happening. In this exclusive analysis, you will discover the digital transformation’s juicy details that have started to materialize.
1. Gaming
Here is a fantastic fact. The gaming industry admires passion. The present generation would prefer to watch Ninja or Shroud play than go to see the Superbowl. Video-game lovers enjoy the concept that they can get paid to play. You can see the excitement all over them. Do what you love and love what you do, right?
In essence, the pandemic has been a blessing in disguise for organizations like esports. Many enthusiasts flocked to gaming because live sports and entertainment were shut down. They gained momentum in their leagues, such as the Call of Duty League. The league follows traditional North American professional sporting leagues with points rating, play-offs, and lots more excitement.
The Gaming industry is becoming a strong player in entertainment and technology. The video game industry is worth about $140 billion right now, and many of the predictions speculate that it would reach about $300 billion by 2025. Big companies are seeing huge gains and predict that there are now more than 2.5 billion gamers worldwide. In combination, they spent over $150 billion on games in 2020.
2. Automation and Bots
Hollywood movie directors have long aspired to create human-like robots. Analysis of recent trends shows that Robots would soon become mainstream. The only difference is that there might have been an exaggeration in the way Hollywood presents it. For instance, a smile from a robot will never be as soothing as one from your mother.
From a financial perspective, it is cheaper to assign mundane, repetitive work to machines. This means that humans who had roles that involved data entry and other simple routine work would have to find something else to do. In a manual labor environment, a robot can work in extreme temperatures. They don’t need to go on launch breaks or tea breaks. A robot doesn’t need to use the restroom, and if programmed correctly, it won’t make mistakes.
Even though they may have some human characteristics, robots only exist to support our basic human needs. Already manufacturing plants have started using robots for automated tasks. This would be on the rise as the cost and complexity of automating dangerous tasks with robots has reduced greatly.
3. Entertainment
Entertainment as a whole is a multibillion-dollar industry. First of all, streaming makes up 80% of the music industry’s revenue. The rest is in shows driven by the wave of festivals happening all over the world. Music subscriptions have become the norm. Also, companies that were formerly small tech companies, such as Netflix, now dominate the industry. Disney, Amazon, and Netflix are fighting their streaming wars. Other players are joining the fray to take part in the market share. YouTube viewing is at an all-time high.
Social media is intertwined with everything, we play video games more than ever, and we have an appetite for anything that makes us escape the boring side of life. Entertainment is here to stay, but maybe it’s a bit broad and a safe bet. So, let’s get more specific.
4. Streaming Real Life
We feel that soon, everyone would have one form of a reality tv show or the other. Already, on Instagram, Facebook, WhatsApp, and other platforms, to an extent, this is existent. Vlogging is also on the increase. The contactless culture fostered by COVID-19 has helped hasten the process.
On the other hand, broadcasting in the business world has taken a different dimension in the past few years. The main aim of streaming platforms in business is to broadcast live meetings and allow employees and business partners worldwide to participate. IBM Cloud, Diecast, Vimeo live, and others are some players delivering this service. We have this feeling that very soon, everyone would have their own reality tv show.
People crave connection. The social gatherings and community events have given way due to social distancing rules. Streaming offers the missing link that we long for. But now it’s here. 5G will be the stepping stone, and you’ll get access to someone’s life 24/7 if they allow it.
Everything that has to do with people pushing live video in front of people would be the best. Personal live streaming will become mainstream. Get ready; a new breed of unconventional influencers and celebrities are about to spring up.
5. Travel
Because the economy is going through turbulent times, few people can afford a home. However, almost everyone has enough money to travel. The increase in the middle-class is responsible for the upsurge in traveling. The tourism industry is at an all-time high, and businesses connected to it are going to thrive.
And you can already see it in the growth of companies like Booking and Airbnb. Not only do people travel to see landmarks, but they also want to be immersed; they want the local experience. This is great news for anybody who’s just planning to profit from it, but not so much for the people who are just going about their day.
The goal is to have tourists embrace the local culture instead of internationalizing it for just a little more income. But also, you can’t go anywhere in Europe without bumping into the sea of Chinese tourists. They can be seen strolling around with their mobiles in hand, ready to take selfies.
6. Online Education
For some time now, we have been worrying about how many of our jobs robots would take. After a decade of profound change, professionals are taking stock and questioning the world we built and the values that drive us.
Due to a changing job environment, new skills would be needed. Another of the industries that will blow up in 2021 is online education. Professionals who want to keep their jobs would need to learn new skills and learn fast. There are changes in behavior and individual preferences. A new economy is set to arise. To support the new economy, specialized skills are needed. To prepare for the industrial age, countries developed education infrastructure. A similar situation is going to happen. Thankfully, with many online platforms, people can acquire the necessary skills to handle the work needed to support the digital economy. Simply because of the industries that will blow up in 2021, positioning is key. Machine learning, data science, data analytics, and programming are skills that are on the rise.
A look at the skills mentioned above would give you an idea that focusing would be the most important skill. This is because the skills involve deep thinking. If you’ve found yourself going through your social media feed at work, you are not alone.
7. Mental Health
The loss in productivity every year due to depression and anxiety is estimated at $1 trillion. This is according to a report from the World Health Organization. This problem is real and requires urgent attention. For employers, it is a natural talent retention issue, and for employees, a growing need.
There’s a real fear from large companies that they are not set up to handle the rise of the mental health conversation in a safe way for the company and safe for the employee. Mental health is going to be one of the topics on the front burner of many board meetings.
8. Battery Industry
The battery market has been given a jump by electric vehicles and power tools. The discovery of new uses for batteries — coupled with rapid price decreases over the past decade — has shaken an otherwise mature market. The market is expected to see a 5.4% annual growth in the US alone. In particular, a sharp drop in the cost of large, high-powered lithium-ion (Li-ion) batteries have increased their use among high-value automotive and industrial product markets. This mostly comprises electric vehicles (EVs).
9. Facial Recognition Technology
Facial recognition tech seems to be everywhere you go. Another of the industries that will blow up in 2021 is Facial Recognition. This technology is being used to uncover the intention of buyers in a show home in Australia. It is also used in the attendance register for office workers in Indonesia to know if school children are paying attention. A facial recognition system has become the gatekeeper to jobs at some of the biggest firms in America. Facial recognition is being used in at least 17 U.S. airports. Therefore, it is one of the industries that will blow up in 2021. In France, the government is preparing an app that will require citizens to log in with their face to use public services.
10. Cannabis
Legal marijuana is a booming industry that has been attracting huge investment in recent times. This trend is not about to stop with many states passing bills to legalize marijuana. This is one of the industries that will blow up in 2021. As it becomes more widely accepted for recreational uses, major players are cashing in. For instance, Scotts Miracle-Gro has spent more than $1.0 billion growing this line of business.
11. Cleaning and maintenance industry
This industry has been estimated at $117 billion. This is one of the industries that will blow up in 2021. It encompasses essential janitorial services, pest control, and other building maintenance. It is huge but very competitive. It comprises mainly small operators, including 36,000 franchised outlets. Janitors, pest control workers, tree trimmers, and others would be needed as industries attempt to take environmental health seriously.
MORE:
