AUCKLAND, New Zealand, July
30, 2014 /PRNewswire/ -- Mega trends are defined as
transformative, global forces that define the future world with
their far reaching impact on business, societies, economies,
cultures and personal lives.
Photo - http://photos.prnewswire.com/prnh/20140730/130937
Frost & Sullivan's report, 'World's Top Global Mega Trends
To 2025 and Implications to Business, Society and Cultures'
identifies 12 of these trends that will drive growth and innovation
in the world; Urbanisation Bricks & Clicks, Future
Infrastructure Development, Smart is the New Green, Innovating to
Zero, Health, Wellness and Wellbeing, Social Trends, New Business
Models: Value for Many, Future of Mobility, Connectivity and
Convergence, Beyond BRIC :The Next Game Changers, Future of
Energy.
Manoj Menon, Senior Partner and
Asia Pacific Managing Director, Frost & Sullivan says, "Society
as the centre of all businesses, and how the society in turn is a
driving force in shaping businesses today. Mega Trends have diverse
meanings and impacts for different industries, companies, and
individuals. Analysis of these mega trends and their implications
forms an important component of a company's future strategy,
development, and innovation process, and impacts product and
technology planning. It is important for any company or stakeholder
in the market to understand and perceive changes that would arise
from these futuristic forces of development and identify
opportunities."
Urbanisation and economic development are pushing the growth of
megacities, particularly in developing economies. The top 25 cities
in the world today account for half of the world's wealth. By 2020,
we will see the vast development of 'Mega Cities', 'Mega Regions'
and 'Mega Corridors'. Over 60% of world's population is will live
in cities that are networked and integrated. Smart Cities will
create huge business opportunities with a market value of
USD1.5 trillion by 2020. Smart city
market participants will assume one or more of the four main roles
in the ecosystem: integrators (the end-to-end service provider);
network operators (the M2M and connectivity providers); product
vendors (hardware and asset providers); and managed service
providers (overseeing management/operation).
The 'Bricks and Clicks' concept will change the face of the
retail industry by compelling retailers to transition from having a
single/multiple channel to an integrated cross-channel model,
merging the digital, virtual and physical into a single model.
Menon elaborates, "This integrated channel will become the norm of
the future, likely to be deployed by every retailer by 2025. Brick
and mortar retailers are already enhancing IT infrastructure and
logistics to widen their online presence to tap this growing
market. Frost & Sullivan forecasts that online retail revenues
will account for nearly 20% of total retail and reach a value of
$4.3 trillion by 2025."
Future Infrastructure Development examines areas such as high
speed rail, deep sea mining, water and transport infrastructure,
whilst 'Green" will be replaced with "Smart" concepts that bring
together smart cities, products and technologies.
Innovating to Zero is a radical future concept where the focus
and development will shift toward products and technologies with a
vision and target of "Innovate to Zero"; bringing social innovation
to the forefront. This "Zero Concept" world will have cars with
zero emissions, zero accidents and zero fatalities. Cities and
buildings will want to be carbon neutral, whilst emerging
technologies will strive toward innovating to zero beaches of
security, zero accidents, zero fatalities.
Health, wellness and wellbeing are a vital mega trend as public
health is becoming unaffordable. "The definition of healthcare will
change as economies struggle to afford healthcare costs, which will
affect 20 percent of a nation's GDP in a developed world. Focus
will shift to mass prevention and diagnoses and to wellness aspects
of the mind, body and soul. The age-old model of treating symptoms
will give way to more holistic solutions that involve early
diagnosis of disease, methods that can predict future ailments,
efforts to prevent disease in the first place and ongoing
monitoring of patients to ensure medical intervention takes place
at an early stage when it is generally cheaper to do so. Private
health insurance schemes will change to reward individuals who stay
healthy, and the private sector will increasingly sell gadgets,
drugs and services that help them do so," explains Menon.
Social trends that are anticipated to effect deep socioeconomic
changes in our future society include a heterogeneous society,
Generation-Y, women's empowerment in for a She-economy, the rise of
the middle class, an aging population and reverse brain drain.
The emergence of a global middle class of 5 billion people by
2020, interconnected via the internet is resulting in the creation
of new "value for many" (VFM) business models. Entrepreneurs and
businesses will be able allowed a "make one, sell many," concept
that will help drive economic growth in the coming decade. The
concept implies that businesses can produce and sell the same
product or service to the masses in both the developing and
developed worlds using either a platform like the internet or
through developing an affordable products strategy. The "value for
many" business model drives innovation across a whole spectrum of
industries, from low-cost flights to low-cost affordable healthcare
products for the masses, to selling and scaling your business to
the global market from day one.
The future of mobility will see city planning, energy and ICT
coming together to define the future. "By 2020, over 90% of cars
sold will be connected, car sharing will have 26.2 million members
globally and 44 million users will subscribe to telematics based
insurance worldwide, states Menon.
By 2020, there will be over 5 billion internet users, with over
half of them accessing the internet over handheld tablet devices
and 80 billion connected devices worldwide. This connectivity will
spread to our daily lives bringing the three silos of work, home
and our surrounding environment into one seamless experience termed
as 'connected living'. Through the 'Internet of things' in the
home, work, and city environments, this Connectivity and
Convergence brings about huge opportunities for growth in an
eco-system estimated to be worth $731.70
billion by 2020. This market potential offers immense
opportunities to telecom, M2M and software vendors; and existing
player and new competitors alike will be experimenting with
different types of New Business Models to capture a piece of this
lucrative pie.
The future of energy will see the energy industry converge with
several related industries to develop efficient and environment
friendly solutions. Key trends will be the Smart Grid, the future
'Energy Internet', the contribution of shale gas in the U.S. gas
supply to surpass 40 percent in the 2030s, deep sea drilling for
oil to account for 20 percent of global oil production and
technology for deep sea exploration to expand to deep sea mining.
Micro grids and energy storage technologies will leverage second
life from electric car batteries, and space-based solar power
satellites may beam electricity to earth for the first time
ever.
"Mega Trends are transformative global forces that will define
our future world and its increasing pace of change with their
far-reaching impact on business, economy, society, cultures, and
personal lives. A critical element of Frost & Sullivan's
programme is the 'Macro to Micro' exercise, which entails taking
each Mega Trend, creating scenarios, analysing impact to your
business, and designing your future strategy for product and
technology planning. In this way, the entire ecosystem of the Mega
Trend can be understood, and the most important segment of your
value chain can be identified, which will redefine businesses'
competitive position in the market" finishes Menon.
Manoj Menon presents these
visionary insights showcasing the impact of these new Mega Trends
as well as highlighting case studies of companies and a roadmap of
global opportunities to 2025 in his GIL Keynote session on at
GIL 2014 New Zealand
(http://gil-events.gilcommunity.com/events/new-zealand/agenda/)
at Villa Maria, Auckland on
28th August, 2014. To enquire or register, please
email djeremiah@frost.com directly with your full
name, designation and company details.
Globally Frost & Sullivan conducts the Growth, Innovation
& Leadership Congress (GIL) across more than 15 countries. More
information about our global community is found here:
http://gil-events.gilcommunity.com
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in
collaboration with clients to leverage visionary innovation that
addresses the global challenges and related growth opportunities
that will make or break today's market participants. For more than
50 years, we have been developing growth strategies for the global
1000, emerging businesses, the public sector and the investment
community. Is your organization prepared for the next profound wave
of industry convergence, disruptive technologies, increasing
competitive intensity, Mega Trends, breakthrough best practices,
changing customer dynamics and emerging economies? Contact us:
Start the discussion
Contact:
Donna Jeremiah
Corporate Communications – Asia
Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com
http://www.frost.com