Tech Industry Predictions for 2019
It has become a tradition for me to look at the year ahead and predict where the industry is going. Part of that process involves looking back at the trends that shined last year and looking to see how much of that momentum will continue into the upcoming year.
Companies like Amazon and Netflix continued to assert their supremacy, while others hesitated in the face of intensified examination. On top of that, artificial intelligence, augmented and virtual realities have continued to develop quickly, to the point where voice assistants and other smart gadgets have become extremely common.
It can be hard to keep up in the face of this kind of innovation, but here’s what I consider to be the top issues and trends facing the tech industry in 2019.
2019 is the year of the consumer
My favorite tech movement of 2018 has to be the steady growth of companies focusing on direct-to-consumer products. Allbirds, Casper, Dollar Shave Club, Warby Parker, Netflix, Peloton – the list is doesn't end. So many of the best brands nowadays are choosing to go straight to the consumer, instead of having to rely on middlemen and third parties. What these brands all have in common is that they all know how to talk and listen to their consumers, and they don’t depend on suspect adtech to do it.
In 2019, consumers will take back the control of their data, and start becoming pickier about the brands they connect with. People will start engaging more with the brands they love in a personalized way, which in turn, will allow them to get more value out of the interaction.
Personalized animation will captivate the public imagination
What text chain would be complete without at least one gif, emoji, or meme? I’ll add one component to the mix: personalized animation. As we continue to absorb visuals into our written communications, it’s only fair to want to include more dynamic forms of creative – including animated forms of ourselves. Apple’s Animoji and Memoji are just a few examples of this.
Fintech will continue to eat financial institutions’ lunches
Fintech is no longer a small concept that banks can ignore or laugh at. Instead, it’s quickly taking over every element of the financial industry, from credit cards to savings accounts to payments to determining credit scores. Fintech is THE sector to invest in 2019 – so consumers, take notice.
The wellness craze will continue
People want to live long lives and feel good while doing so. The global wellness industry is currently worth a massive $3.7 trillion, so companies that help people on their voyage, whether by providing an app that helps you meditate, or giving you flexible access to a variety of fitness classes in your area, will absolutely dominate in the next year.
Services and software that support SMBs will win
While larger retailers struggle to hold their data effectively, smaller businesses will get smarter about their customers through software, CRM tools, and pricing. This will make SMBs better at being able to respond to shifts in consumer point of view.
Consumer tech products will stage a comeback
After a long dark winter of believing that consumer products are impossible to win, new consumer-shaped businesses will advance. Long live the consumer – but maybe this time, do more than just build an app.
More industries will embrace dynamic pricing
Dynamic pricing isn’t just for airlines anymore. Other industries, such as auto and real estate, will also depend on the model so that they can better control available inventory and decrease production costs. It could also have involvement in the customer journey, as it allows users to get better deals depending on when they purchase and how much stock is available.
AI and machine learning (ML) will break past the block-chain
Let’s face it, the paradise that block-chain promised has failed to happen. Instead of continuing to spend resources on a technology that has not paid their percentage, both investors and entrepreneurs should focus on how to use AI and ML to grow and develop companies. Not only has AI been shown to provide worth to businesses, but it’s also much less of an inconvenience to implement.
April 4, 2019