Editor’s note: This article was first published in December 2014. Its forecasts for 2015 were written then and are now past, and Amazon’s expected 2014 e-commerce sales of 91 billion dollars is a 2014 figure.
It is practically impossible to predict which industry or sector will end up taking off in 2015, especially in the technology industry, where, as has happened before, the businesses of the future turn out to be things nobody had even mentioned when people tried to make predictions years earlier.
Nevertheless, we can see some sectors that have started to stand out and that, over the course of 2015, can only move forward. To that end, Ben Schachter of Macquarie Securities reviews the 10 things we should expect to boom imminently next year.
1. The Internet of Things
We devoted an entire article to the Internet of Things and how big this industry will become. Many entrepreneurs still have time to innovate in this area and grab a slice of the pie in an industry that will grow by billions.
We think this industry will be among the most profitable and fastest-growing.
(Read: probably the 9 most profitable businesses we will see in the short term)
2. Big data
Companies will keep increasing their use of data, and that massive amount of information can be turned into a lot of money if you know how to interpret the data and use it to grow the business. The companies that apply their own formulas and innovations will strike it rich, because data is “technology’s gold”.
3. Wearables
We should be ready to see major technological advances in devices that even monitor our own health. Highly intelligent watches that measure our vital signs, and even projects to measure our blood sugar with a simple wristband, as well as smart glasses and watches themselves, may seem like a big deal, but according to Schachter we are still only at the start of this huge industry.
4. Better internet access
Some companies will improve internet connections as we know them today, but these companies probably won’t be traditional telecoms operators like Telefónica (Spain’s former state telephone company). They will be Google and Facebook, which are working to bring the internet to places that don’t even have drinking water, and to make online connections much faster and more stable in developed countries, and probably even cheaper while they’re at it.
5. The cloud for business
Although cloud data storage has been in the spotlight over the last few years because of thefts of sensitive data, the commitment to the cloud is very clear: Amazon, Google and Microsoft are the companies leading this service, and it will reach businesses even more aggressively in 2015.
6. Mobile payments
Sooner or later, physical money will disappear and we will make payments from our own phones. That is probably inevitable. Although you may have heard Apple described as a pioneer in mobile payments, the truth is that Apple was not the first company to offer this solution, nor will it be the last.
In 2015 we will start to see exponential growth in the use of mobile payments, as more and more shops sign up to this alternative of the future.
7. Commerce will be electronic
Today Amazon has more e-commerce sales than any other company. In fact, Amazon is expected to reach 91 billion dollars in sales in 2014. But next year Amazon will go to war with other big players that also want a share of this market, including Google, Alibaba, eBay and some lesser-known brands that keep on growing.
So entrepreneurs looking for a product to sell should not forget to include selling online, and/or using these e-commerce giants, in their business plans.
8. New advertising platforms
Although I’d rather not name names, the truth is that some of the big advertising giants are starting to become obsolete. I imagine they are already noticing how their results no longer keep pace with their user growth. That is why in 2015 we will see better technologies and new, innovative advertising platforms.
9. Video ads
The advertising bet for 2015 seems clear: ads will be video, and we will see this kind of ad become much more tailored to our interests.
10. Virtual reality
There have been big moves in the last few years: on the one hand Facebook’s purchase of Oculus, and on the other Google Glass. But there are new companies too, such as a startup called Magic Leap, which recently received an investment of more than 500,000 dollars. And, it should be said, that investment was led by Google itself.
Perhaps one day you won’t just log on to Facebook, but literally step inside Facebook thanks to augmented reality.
The key companies leading the future of the internet and online services at the moment are still Facebook and Google. At least, their investments and acquisitions of innovative companies suggest that they still have big things they want to show us.
This article is based on the report by Ben Schachter of Macquarie Securities that originally appeared in Business Insider, adapted and modified.
Further reading
- 33 businesses of the future and the industries that will create jobs (2015–2025)
- The 7 leading technology trends
- The 20 best business ideas for 2015
Featured image: Evan-Amos, Public domain, via Wikimedia Commons.
