Deloitte Global recently released its 2021 TMT Predictions report, which examines trends likely to change the way we work and live. Below are five that may particularly affect the consumer landscape.
Although data shows that consumer health will not be adversely affected by 5G radio waves, Deloitte predicts that up to a third of people around the world will worry about it anyway. To assuage consumer concerns, the telecom industry should communicate with legislators, be proactive on social media, and reach out to vertical sectors to explain how 5G works. For more on 5G, don’t miss the CES® panel “5G’s First Year: From Insight to Innovation.”
VR Comes to Education
Overall spending on augmented, virtual and mixed reality technology (collectively called XR) — headsets, software and services, including purchases by consumers, rose in 2020 to US$12 billion globally, and is expected to grow at 50% annually to 2024. Will we reach a tipping point for education? COVID-19 has forced multiple schools to use XR since in-person training wasn’t possible.
Virtual Doctor Visits
Five percent of all patient visits worldwide will be video calls in 2021, and the market for pure-play telehealth virtual visit solutions (both video and non-video) will reach US$8 billion. More than US$33 billion of medical-grade home health care technology — mainly therapeutic and monitoring solutions and including FDA-approved smartwatches — will be sold in 2021, up almost 20% over 2019. For additional insights, we encourage you to tune into Deloitte’s CES panel, “The Road to DIY Consumer Health.”
The Hyperquantified Athlete
By the end of 2021, multiple professional sports leagues will establish new formal policies around the collection, use and commercialization of player data. This can drive fan engagement and create new revenue streams from licensing the data, especially for gambling. One scenario is an app that would enable betting during games, based on data from player wearables.
In 2021, Deloitte Global predicts that more than one million 8K TVs will be sold, representing approximately $3.3 billion around the world and will almost double 2020 sales. Consumers will buy 8K TVs for four main reasons:
• Futureproofing. There’s little 8K content now, but when there is, buyers will be ready.
• Early adopter or the”cool factor.”
• To consumers, 8K just sounds better than 4K.
• Many cutting-edge TV sets happen to also be 8K.