As you all may know, 2020 has not been the best year so far for the global economy – especially the electronics industry. With COVID19 sweeping the globe, Australian bushfires, and US trade tariffs, we hope 2020 can only go up from here. Within the last decade we uncovered the most breath-taking electronic discoveries – some being 5G, the iPad and electronic-car charging stations. Within this article I am going to talk you though the trends which I believe will dominate the electronics industry within the up and coming years and how you can adapt to them.
Robotics Taking Over Workplaces
According to a new study from Oxford Economics, within the next 11 years there could be 14 million robots put to work in China alone. The benefits of robots within the workforce is constant, high speed production – compared to humans who are entitled to breaks, holiday and sick days. Within the next decade, low-skilled jobs in poor local economies have a greater chance of robotics taking over their jobs to reduce labour costs. Already, many jobs have been taken over by robots due to lower production costs and better efficiency. Some examples of jobs which have been lost to robotics would be switchboard operators, bridge toll collectors, factory workers and railway station ticket sellers. I think this trend in the next decade will increase unemployment and cause lower demand for human handled jobs. In my opinion, within this decade I can potentially see many jobs being undercut by robotics. Especially with COVID19 taking its toll on the economy. A strength of robotics working rather than humans, robotics are unable to catch or spread viruses such as coronavirus.
Is anyone else really intrigued about the purpose of driverless cars? The idea of autonomous vehicles means that mainstream driving will be reinvented, and the concept of being in a vehicle will be a service rather than a manual activity. Already, many well-known companies such as Ford, Audi and Tesla have reiterated that the future is driverless cars. The key benefits of autonomous vehicles are that they are less prone to accidents and are lighter than the conventional automobiles. Lightweight vehicles save on fuel consumption, which will lower emissions being released into the atmosphere. Not only this, it may reduce the risk of drink driving prone accidents and reckless driving. Within the next decade, I believe that autonomous vehicles will be categorized as mainstream and will contribute to greener transportation. However, I do think that autonomous vehicles will take over many jobs such as delivery drivers, taxis, and public transport drivers. For example, many people get taxis to and from places as they may want to drink – if autonomous vehicles meant that people wouldn’t have to physically drive, then there would be no need hop on public transport or taxis as the vehicle would drive solely.
Health wearables are not only a huge fashion trend right now, but also an educational movement. Us as a society has become a lot more aware of our body’s health and mental state – especially since COVID19 was first discovered. In my opinion, within the next few years will begin to see a new generation of fitness devices. The most popular health wearables on the market today are fitness tracking watches that measure movement and fitness habits. However, moving forward we can expect devices that display not only pulse and movement, but also blood oxygen levels and maybe even brain activity.
For many who may not know, 5G is the term used for wireless technology. The difference between 5G and 4G is that 5G is believed to be faster, smarter, and more efficient. With speeds of up to 100 gigabits per second, 5G is set to be as much as 100 times faster than 4G. According to 5G.com, 5G is set to open up a whole new set of use cases such as: superfast 5G broadband with no need for landlines, super smart factories, car to car and car to infrastructure communication, driverless cars, holographic technology, the arrival of 5G phones, 5G sim only and devices such as 5G TVs, and remote/ distance health care for patients. In my opinion, companies must consider the business implications of having stable and fast internet access everywhere. Data will be easier than ever to receive and transfer. Technology and data are a huge aspect of today’s world and the 5G trend will swoop in very quickly.
Artificial intelligence is the term used for machine intelligence. Artificial intelligence is demonstrated by machines which are in contrast with natural intelligence displayed by humans. I believe that AI in the automotive industry will be a huge trend within the next decade due to the way technology is improving year on year. Artificial intelligence in the automotive sector will result in applications constantly learning and adjusting to the rules of the road. However, there are many dangerous side effects to artificial intelligence. One being the fact that artificial intelligence cannot exhibit human emotions such as hate, sympathy and love. Autonomous Weapons are programmed to kill through artificial intelligence which can pose risks to many innocent people if they fall into the hands of the wrong people. There is lots of controversy regarding whether artificial intelligence is reliable and beneficial. Within the next decade, I think artificial intelligence will be a huge trend within marketing divisions along with the automotive industry. AI can be used in marketing by leveraging information from customers and delivering the right message back to them using their information. For example, if a customer were browsing for computers, AI would use this knowledge to present them computers in advertisements and popups. I think this will be a huge trend within the next decade as it is cost effective and is reliable.
The environment is a huge topic currently, with the planets average surface temperate increased by 2 degrees Fahrenheit, there is global concern about the fate of the planet. So far, large companies within the electronics industry such as Mouser Electronics are already doing their bit for the environment. Mouser’s new, smaller, lighter packaging has a significant environmental impact by reducing fuel consumption and emissions during transport. Also, by utilizing a material that is both biodegradable and recyclable, we are lowering the amount of waste. Within in the next decade, the environments wellbeing will be a huge trend due to the popularity it has seen already. Another company within the electronics industry who have already started with the environmental trend would be Dell. With an aim of limiting environmental impacts, Dell has promoted the safe disposal of their products by coming up with an effective and efficient recycling program. Dell allows customers to give back any Dell-branded equipment to the company for free which encourages safe disposal and reduces the overall e-waste count. Within the next decade I think that companies will produce and deliver assets in a greener manner. I believe that customers will prioritise organisations who do are environmentally friendly and contribute to the planet’s wellbeing. Out of all the trends I have listed, I personally believe this would be the most impacted movement.
By Amy Leary, Marketing Manager at eBOM.com