The start of a new year is not just for resolutions anymore, it is also about predictions. Industry gurus release their thoughts on what is going to be successful and desirable for the year ahead. Sometimes these predictions follow on from careful analysis of trends and how consumers are behaving, like the emerging technology market, other times they seem to actively influence what follows, like within the fashion industry.
Analysing trends is a strong predictor of what the industries can expect in the coming year. If a particular product or service was increasing in demand at the end of the previous year, it is reasonable to assume it will continue to be popular. Therefore, it’s statistically possible to predict things like which sustainability trends will become more widespread or which businesses are on the up and up.
Having crunched the numbers, here are five industries set to make 2022 their year.
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Software and Technology
The technology industry is at the heart of everything we do and developments within this industry will power everything from healthcare to transport, tourism to banking, and everything in between. And with this new technology comes the need for software to operate in, or to function on it. Take contactless payments as an example; in the last two years major software upgrades were rolled out almost overnight to raise the limit of contactless software. Some high street banks also updated their apps to allow contactless deposits, with customers able to upload pictures of cheques and have the money credited to their accounts. It’s no wonder that the market has seen a 25% increase in demand for software developers.
The way that technology is adapting to fit our lives and widen people’s options is not going to take a step back, which is why this industry is going to continue to boom this year.
Artificial Intelligence has often been written as science fiction, but software advances in recent years have proven that aspects of AI are already available to assist in businesses today. With a global shift in the way that we work, AI is able to fill in the gaps and work in service jobs when its human counterparts cannot. Think chatbots and computer receptionists. Both these services function by recognising aspects of the customer’s conversation and selecting the appropriate way to help them. The sectors of the artificial intelligence industries is currently one of the fastest growing markets and AI-based jobs grew by 32% in 2020 alone. We’ve only just started to scrape the surface on how AI can be implemented in business and across our personal lives – even Netflix suggestions are a form of AI – and this year is set to bring even more refinements to the AI process, as well as more ways of using it across all sectors.
iGaming and Gambling
iGaming has been growing exponentially for years ever since smartphones dominated the mobile phone industry. These devices made gaming more affordable and were able to reach a wider audience than consoles and PCs combined. Digital entertainment is big business that also relies on developments in software and technology to power its ideas.
A significant subsector of the iGaming industry is the online gambling industry, and this has seen a huge boost in profits over the last couple of years. With the continuing digitalisation of our lives, it’s no wonder that the popularity of gambling has transferred from land-based venues to online operators. Now people can learn about poker hand rankings and roulette probabilities from the comfort of their own home, and put their new skills to practise immediately. The growth of the online gambling and igaming sectors shows no signs of slowing down, so expect 2022 to see even more developments in these areas.
Analytics and Data Science
It’s easier than ever for businesses to collect data about how their products and services are being used, who is accessing them, and where they could be improved. But there’s no point on having all this information without people to process it. As more and more marketplaces become saturated with competing businesses, it becomes vital for data scientists and analysts to find any ways to gain an advantage, and this is why analytics is one of the industries set to boom in 2022.
Cryptocurrency and Finance
Cryptocurrencies were laughed off as a passing fad, but they have proved they are here to stay. More and more retail sites are now updating their software to allow crypto payments and the digital money is reaching more people than ever before. Crypto blockchain economies are vastly becoming the centre stage of discussion for many forums as consumers are wanting to know more about the newly introduced currencies. Money makes the world go round and we are never going to be able to function without financial services, but the success of cryptocurrencies has driven the financial industry to consider alternatives to fiat currencies and the traditional ways of moving it. This is why fintech start-ups are exploding onto the scene from every direction. This is the year that banking and finance is reimagined, so expect big things from the finance industry.
2022 is set to be a growth year for many industries and it looks like trends from 2021 are set to continue. As the global economy continues to recover, we’re adapting to a new way of life and those businesses which can offer helpful services are those which are set to make the greatest gains this year.