A new decade is almost upon us. As we move into 2020, we’re taking a look at different technologies and a few consumer-facing industries that we believe may grow or continue to expand in the coming year.
Edge computing isn’t necessarily a brand new technology, but it has been pushed to the forefront by cloud computing and machine learning. Edge computing seeks to solve the issue of overloaded networks and insufficient bandwidth by moving the computing closer to the data source. This means that less data must be sent over the network, optimally resulting in better privacy, and less wait time for critical data (think autonomous cars).
Currently, a significant portion of the focus on edge computing remains with IoT systems in specific industries, like manufacturing. However, as edge computing becomes more sophisticated and specialized, the next few years may see more widespread adoption of this technology. The shift could be accelerated by the further adoption of devices such as drones, robots, and autonomous vehicles.
A Few of our Favorite Autonomous Things
Autonomous things, or the Internet of Autonomous Things (“IoAT”), use AI to perform functions traditionally done by humans. From drones and robots to autonomous vehicles and voice assistants, autonomous devices are rapidly changing and becoming better integrated and sophisticated in their capabilities. As regulations change and the technology matures, autonomous things are expected to become more embedded in our daily lives.
The weaponization of AI technology by cybercriminals and the rollout of 5G networks has and will continue to present challenges for cybersecurity. Cybersecurity threats are on the rise, and an estimated that 4.1 billion records were exposed in just the first six months of 2019.
It comes as no surprise then that global spending on cybersecurity is expected to hit $133.7 billion by 2022, as businesses seek to protect their data and avoid the regulatory consequences of over-exposed customer data.
FinTech is shaking things up in the financial services industry. In fact, it was recently reported that corporate VC deals hit a new record this year, as banks have invested in fintech competitors. More innovation, competition, efficiency, and greater accessibility have proven challenging to financial incumbents, and we’ve already seen the effects of this digital disruption. Earlier this year, Charles Schwab and Interactive Brokers each moved to a commission-free trading model, following in Robinhood’s footsteps. As FinTech companies continue to innovate, we expect incumbents to continue to follow their lead in 2020.
Since the passage of the U.S. Farm Bill in 2018, which made it legal to farm hemp nationwide, various consumer CBD products have proliferated, including beverages, snack foods, cosmetics, and other various wellness products. The anticipated, but not yet firmly established, wellness benefits associated with CBD products have driven significant consumer interest, and it comes as no surprise that the U.S. CBD market is expected to reach $1.2 billion by 2021, and nearly $2 billion by 2022.
Sustainable Consumer Goods
Consumer demand for sustainable, environmentally conscious alternatives is on the rise, likely as a result of growing public concern over the effects of climate change. From meat alternatives like Impossible Foods and Beyond Meat, to “slow fashion” brands like Everlane and Outdoor Voices, to legislation over single-use plastic, there has been a noticeable shift in the collective consumer conscious towards goods that make less of an environmental impact, particularly in younger generations. In fact, by 2021, Nielsen estimates that sustainably-minded shoppers will spend up to $150 billion on sustainable products.
While these are just speculations, tech trends and market indicators suggest that these technologies and industries are positioned to reach new heights in the coming years.
We’ve made our predictions, now we want to hear yours! Give us a shout on Instagram or Twitter and let us know what emerging technologies or growing industries you think will shape the next year or even the next decade.
This material is for informational purposes only and is not intended to cover every aspect of the industries mentioned. It is not intended as a recommendation nor an offer or solicitation for the purchase or sale of any particular security. An industry’s past performance is not a guarantee or predictor of future growth.