Top 2020 Business Trends
It is true that the outbreak of the coronavirus has shaken the entire world but the show must go on as they say. Here are some of those top trends, which are like likely to have a big impact on businesses in 2020, as well as, beyond:
1. The competition in the streaming sector gets heated up.
Bloomberg Businessweek had reported that consumers are likely to subscribe to 3-5 streaming services on average. If the prediction becomes true, Netflix will not have much to rejoice about. While it had been the first player in the field, it now faces competition from other companies like Amazon, Apple, and Disney among others.
2. The war over supremacy of cloud computing will continue
It is a war in Silicon Valley for the supremacy of cloud computing. Experts have already predicted that data platforms in the form of a service i.e. PaaS, cloud platforms such as Saas or software as a service, as well as, IaaS or infrastructure as a service might be a 250 billion (USD) market in the current years. It also means that the top players such as Salesforce, Microsoft, and Amazon are all set to fight for gaining the top position. The good news is that prices might come down, particularly as organizations bundle applications.
3. Customers could be still spending
Although the global economy has been hit badly due to the recent pandemic, it is expected that customer sentiments will be strong. Pandits had earlier pointed out that companies indulged in business-to-consumer ventures would be doing well. It is also expected that online sales will experience further growth in the current year.
4. Artificial Intelligence will continue to play a significant role
Machine learning and Artificial Learning are being used to fight cyber crimes. Many businesses have admitted that they could not detect security or data breaches without using Artificial Intelligence. Experts have predicted that Artificial Intelligence as a service will come up with a product to be used by smaller businesses, which could not afford it previously.
5. Many tech giant stocks are under scrutiny
There was a time that tech stocks used to be the darlings of Wall Street but things may change soon as many of these stocks are under attack. For example, tech giants such as Google, Netflix, Apple, and Facebook are under fire by the regulators of the European Union over issues related to privacy. A few politicians have even come up with proposals related to antitrust actions.
6. The sufferings of European businesses could continue
Germany has been witnessing a drop in production, there have been strikes in France, as well as, Brexit has all managed to slump the European economy. If interest rates fall below zero, the global economy will go into a deep recession. As such, it is imperative for the business leaders to be proactive and identify certain predictive indicators which can correlate with proper demands in their respective sector.
It seems that it will be a wait and watch policy to see how businesses are being run in the current global scenario. However, as an entrepreneur, you need to ensure that your team takes leverage on the massive changes expected in the current year.