What is a 'megatrend'? It's a trend or fad that has incredible potential - more so than your average phase. In the modern age, and concerning startups, 'megatrend' refers to those technologies at the precipice of going viral. But what are some of the more intriguing spheres and trends capturing interest on a global scale?
Key Example of Megatrends
So we can understand precisely what the power and prominence of a megatrend equate to in 2021, we need to look at a few examples. Some megatrends have already broken through into the mainstream. However, these are movements that many businesses and investors are still yet to seize upon.
A great example is cloud computing. It's thought that despite the leap into off-site servers, some businesses are still waiting to move to the cloud. For all its endless scalability and cross-platform functionality, this is surprising. Cloud computing remains fairly new, could be an excuse.
However, spending in the cloud for business is growing. It's said to demand more than $1 trillion in global spending this year alone. That's growth and interest that's hard to ignore. In a world that requires greater flexibility and efficiency, cloud shifts are all but a given for the years to come.
We also need to consider startups working with the Internet of Things, or IoT. IoT concerns programs and devices communicating with one another beyond human interference. This means that offices and factory floors can effectively monitor themselves, providing they have data connections.
IoT spending across the planet is set to explode beyond $1 trillion, too, by 2023. That's a clear indication of a megatrend 'going nuclear'. Interestingly, we've looked at both of the critical examples here so far are efficient, hands-off technological pivots.
What Other Trends are Startups Keen to Latch onto?
Megatrends are those that have the potential to change the world or society at large. They are not always easy to spot, but key indicators include sheer convenience. Will this product or service change our way of living for the better? Could we imagine life without it in the decade to come?
Let's consider driverless cars. Automated vehicular technology is booming, and ventures are working with larger car firms to push non-driver units onto the road. Google, of course, is leading the way here - but aren't they the ultimate venture?
Data as a commodity is another interesting megatrend to keep an eye out for. Apps and services are increasing 'crowd-sharing' data to ensure that we have access to the bigger picture. It won't be a large surprise to see more programs and apps sharing data - with consent - to improve service quality.
Will These Trends Become Easier to Invest in?
Investors, angels, and VCs keen to seize on megatrends likely won't need to look too far. Some of the biggest movers in our list above are wide open to take advantage of via Fundz, for example. What will innovative startups do next to change the global experience?