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trends - Coggle Diagram
trends
Digitization
Technological development is perhaps the most fundamental and influential driving force of the 21st century. Technologies and digitization create new opportunities and businesses, as well as new ways to handle existing challenges. It has also fundamentally shifted the ways in which we operate and communicate with each other, for example, mobile technology has grown exponentially in the past decade. Digitization creates data, and data enables another mega trend; personalization.
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Urbanization
This urbanization is strongly connected to growing middle class. Today 1,8 billion people is considered middle class, in 2030, the number will be 4,9 billion.
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Sustainable solutions
Another consequence of the growing middle class is the need for sustainable solutions, products and services, as the rapid population growth on earth will require a major reshuffle of all kinds of production. As consumers’ expectations evolve, an increasing importance is placed on measuring not only a company’s profits, but its impact on people and the planet as well. This means a bigger focus on CSR as well as other commitments to society.
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Demographic shifts
We are also going to experience some other big demographic shifts; ageing population in Europe and parts of Asia, population growth in parts of the Americas, EMEA and Asia and population decline in Europe and parts of Asia. Connected to these changes in demographics, family structures will change, and we will also see a diversification of behaviour connected to different generations.
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New Powers
The third trend touches upon power. As strength was once exhibited by a strong militia and weaponry, strength today is becoming synonymous with countries that display the greatest technological infrastructure and capabilities. Connected to this, access to information and communication technologies together with growing wealth inequalities are dramatically questioning as well as changing the status quo.
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Personalization
We now have the possibility to get products and services tailored to our individual needs, and this area is predicted to grow during the coming decade. This is said to be connected to the aforementioned trend of the growing middle class. As a middle-class citizen has the possibility to want and acquire personalized products.