The past few months have been challenging for economies around the world, with the businesses operating across a diverse range of different sectors being forced to deal with a significant drop in demand, close their doors altogether, or work from home.
There are very few businesses that haven’t been affected by Covid-19 in some way. And, as we approach a new year, the business world is already looking ahead to how it will manoeuvre 2021.
And as we approach a new year, experts are predicting that a number of different industries are likely to boom in 2021. Let’s take a closer look at some of them:
Online meeting platforms
With more of us than ever before working from home, virtual meetings have become part and parcel of our everyday working lives. And, since the government encouraged all that could to work from home, online meeting platforms such as Zoom, have become incredibly popular – allowing businesses to remain connected with colleagues, business partners and customers. In fact, Zoom has seen its share price surge by as much as 100% in only two months.
And, as Covid-19 has continued to change the business landscape, and working from home becomes the norm, experts are predicting that online meeting platforms such as Google Hangouts and Microsoft Teams will continue to increase in popularity.
This not only opens up the opportunity for businesses to develop new online conferencing and communication tools and platforms but the normalisation of using these tools also provides new ways for businesses to engage and interact with their customers.
Personal protective equipment
As Covid cases continue to rise during the second wave of the virus, companies manufacturing and selling personal protective equipment are expected to experience a soar in sales, as a constant supply of fresh PPE is required as we move into next year.
From traditional PPE masks to high quality PPE equipment, global demand for all different types of PPE equipment is at unprecedented levels, resulting in several countries already placing export bans on the sale of PPE.
This means there are a whole host of opportunities for businesses to tap into this market, by diversifying their offering or adapting and re-targeting their existing products or services.
Dating apps
Over recent years, dating apps have continued to increase in popularity, as more singletons than ever before rely on them to find their perfect match.
And, as the world came to a halt during the peak of the virus, the industry recorded a rise in app downloads, with people having lots more time on their hands and no other way to search for their perfect partner. Of course, it’s likely that apps such as Tinder, Bumble and Hinge have also increased in popularity due to the number of break ups recorded during lock down!
Tinder, for example, has reporting seeing the number of conversations happening on the platform, as well as time spent online, increasing significantly during lockdown. In fact, on Sunday 29 March, the company set a new record, with 3 billion swipes worldwide – the most ever recorded in a single day.
This increased popularity and on-going demand is likely to pave the way for new apps to enter the market.
Online education and remote learning
Schools, universities, colleges, nurseries and other education institutions were all forced to close their doors during the pandemic, and many are continuing to initiate remote learning schemes using online education tools.
As a result, companies that offer online education and remote learning tools are currently enjoying a boom in users utilising their facilities and this is set to continue in 2021. At the same time, many companies are taking advantage of a demand for online education by launching e-learning tools and platforms, designed to provide a high standard of learning during the pandemic.
Entertainment (gaming and non-gaming)
Online entertainment platforms have also experienced a huge rise in users, especially online gaming sites, streaming platforms and gaming apps. In fact, UK bank account data has revealed a 71% rise in gaming spending during lock down, while sales of boardgames were up by 51%.
This is mainly due to local and national lockdowns, with people forced to stay home. As the new year fast approaches, experts have predicted that, once again, there will be an explosion of sales in online entertainment facilities, providing yet more opportunities for businesses to take advantage of this trend. From games developers through to manufacturers, there are set to be plenty of opportunities within this sector.
Digital marketing and advertising
There’s no denying that the digital marketing and advertising sector has grown massively in the last decade, as the digital world continues to advance at an unprecedented rate. And, in 2021, it shows no signs of slowing, as it is predicted that a demand for digital marketing and advertising is set to reach an all-time high!
Digital ad spend in 2020, for example, is expected to grow by 14.3% on last year, compared to growth of 13.2% in 2019. The biggest spend is expected to be by retailers, with the travel industry accounting for the lowest spend. This reflects the current restrictions on the travel industry, as well as the need for retailers to move online.
From paid advertising and social media management through to content marketing and design services, digital marketing companies can expect a high demand for their services as more and more businesses and consumers head online.
Cybersecurity
As technology continues to evolve, many businesses sell their products or services online, market their services online and connect and engage with their target market online. With this in mind, a whole host of digital tools have become a core component of many businesses day to say operations.
As a result, a demand for Cybersecurity is currently big business and is set to become even bigger next year. This is because Coronavirus has proven to be one of the biggest threats to cybersecurity, with sophisticated scammers taking advantage of the world’s vulnerability when it comes to dealing with a disease we are still learning from. For example, during the pandemic, many people have reported an increase in spam email campaigns, which have encouraged users to click on suspicious links.
There’s no denying that the global pandemic has changed consumer spending habits and priorities, with many businesses enjoying record sales. Although it remains a challenging time for many businesses, there are still opportunities to take advantage of.
Over the coming months, more sectors that are set to experience a surge in sales, including the food brands that now deliver to us in our own homes, health and fitness Apps due to the closure of gyms and leisure facilities, and the gifts and occasions sector.
