Frost & Sullivan: 9 global trends generating growth opportunities from COVID-19
- Connected Living: The increased adoption of contactless surfaces post-pandemic will power the home automation and security markets. Systems encompassing voice activation technology will become increasingly popular among consumers.
- Connected Work: Reformed connected work scenarios will accentuate the need for “cloud everything.” New subscription-based models will witness a growing demand for Unified Communications as a Service (UCaaS).
- Digital Health: Digital health driven by telemedicine and robotic care will become the new standard of care delivery. Standardization of service across the care continuum will require more service and technology providers.
- Geopolitical Balance: Countries should work together to keep trade flowing and ensure the supply of essential products, sending a signal of confidence to the global economy.
- Human Augmentation: The behavioral analytics market is expected to reach $3 billion in revenue in 2030, up from $230 million in 2019. Post-COVID-19, behavioral data will be used to enhance healthcare systems, financial services, and cybersecurity.
- Lights-out Operations: Autonomous “lights-out” operations will propel the demand for remote asset management solutions, and service providers will focus on data management strategies and data-driven business models.
- Smart Cities: Smart cities will create significant business opportunities with a market value of $2.46 trillion by 2025. Smart cities will prioritize more digitalized services and a strong data analytics infrastructure, leading to increased spending on technology.
- Supply Chain Optimisation: The supply chain industry is creating radical innovations with augmented reality, virtual reality, advanced robotics, real-time inventory tracking, and exploring how 3D printing could completely disrupt the supply chain in the next 10 years.
- Technology Advancements: Pandemic preparedness will speed up the deployment of artificial intelligence (AI) solutions and accelerate AI innovation. Beyond specific disease management, post-pandemic economies also will rely on AI and machine learning (ML) tools to expedite digital transformation across key business initiatives.