Whether you’re a new entrepreneur or you’ve been in business for a while, you’ll need to know which trends are on the rise for the coming year. When you can anticipate how marketing and business trends will fluctuate, you can better use those resources to your advantage. Here are a few rising trends that will affect your business in the upcoming year.
The Integration of AI and IoT
Artificial intelligence has come a long way in recent years, and it will continue to evolve well into 2021. One thing we’re already seeing is how AI is being used to improve IoT or the Internet of Things. In the office, these two technologies are being brought together to improve smart technology that can control everything from the temperature to the lighting. You can even use smart technology to monitor your inventory and order supplies as needed, so there’s no telling where AI and IoT will take us next in the new year.
5G Presents New Opportunities
Everyone is excited to see new 5G devices roll out in 2021. They offer higher bandwidth capabilities and reduced lag time, so using mobile devices will become even more convenient. However, 5G isn’t without its problems. In particular, there are renewed concerns with security issues and data protection, raising doubts about how this new technology will stand up against cybersecurity threats. Entrepreneurs with interest in tech can use these concerns to their advantage if they can develop new security technology that will make 5G devices safer.
Expect More Subscriptions
Offering subscription services is a trend you’re likely to see much more of in 2021 because it offers entrepreneurs and business owners a steady stream of income. Even if you sell a physical product, finding a way to use that to develop a subscription service will help your business earn a steady stream of passive income. As long as you can continue offering subscribers something of value, there’s no reason you can’t use a subscription-style service indefinitely.
There’s no denying we’re all looking forward to a new year. You can make 2021 a better year all around by using the trends mentioned here to help you market and manage your business. It’s also important to keep your ear to the ground. There will likely be more rising trends than those mentioned above and, by recognizing them early enough, you can use each of them to your advantage.