Top Technology Predictions That Came True in 2020
Buzzwords, vaporware, and the hyped up “next big thing” will always circulate. But what technology predictions actually came true this year? And not just for fancy startups or the trillion-dollar market value club members.
We’ll review the technology predictions made by tech experts and look at which have come true in 2020. We’ll also recommend steps you can take to incorporate this new tech into your business model.
We’ll look exclusively at predictions made by Gartner and how your business can work these in your favor. Here are the predictions that came true:
Prediction #1: 100 million consumers will shop in augmented reality by 2020.
Prediction #2: More than 50% of online sellers will list their products on marketplaces by 2020.
Prediction 3: Mobile apps will have the most business impact for success by 2020.
Prediction #1: 100 million consumers will shop in augmented reality by 2020
By now, most people are familiar with the ability to see how a specific furniture item or wall paint will look in your room via a smartphone app, such as Home Depot’s. The app accesses your phone’s camera and then overlays the image of the product using augmented reality (AR) technology.
The consumer desire for an AR-enhanced shopping experience has grown immensely—the technology is getting less expensive, and the use cases are expanding. This means your next IT project to enhance your customer engagement numbers should include building an AR experience.
Gartner’s prediction:
“100 million consumers will shop in augmented reality by 2020.”
Source: “Gartner Predicts 2017: Marketers, Expect the Unexpected”
But what does an AR shopping experience mean in real life? I tried out some Maybelline lipstick colors on Amazon’s mobile app. For research. (But really.)
It was pretty straightforward. I selected a shade and then hit “try now.” From there, you can select to either view it on a model photo or do a live capture. Of course I wanted to see the live capture. You can switch colors and the AR applies the color to your lips, even as you smile and move around a little—get those angles.
Source: Amazon mobile app on Android device
Pretty cool. I really thought I wanted a deep berry lip color, but being able to see how it looks in a real-life situation—at my desk at work—I see it’s not for me. But since I could easily swipe to see another one, I found a color I really love and it will arrive at my door in two days. Thank you, Maybelline and Amazon.
Our recommendation: An AR-enabled mobile app is the entry point to this technology for small and midsize businesses. Your next project to enhance or update the shopping experience on your website should incorporate an AR experience, if applicable.
There are over 1,100 freelancers offering their services to build an AR mobile app as of February, 2020 on Freelancer.com. This is a low-risk, high-reward option for your first-time AR mobile app.
Prediction #2: More than 50% of online sellers will list their products on marketplaces by 2020
This prediction came true not only because of the ease of entry for small businesses into the world of ecommerce, but also in response to consumer habits.
Software Advice surveyed 613 shoppers in July 2019 about their shopping habits both in-store and online and 46% of respondents say they shop at online marketplaces and websites, most often on eBay and Amazon. Only 14% go directly to a retailer’s website. This trend won’t be slowing down any time soon as the digital native generation, Generation Z, continue to grow their spending power.
Gartner’s prediction:
“By 2020, more than 50% of online sellers will either list their products on marketplaces or sell third-party products on their core commerce sites.”
Source: “The Gartner Digital Commerce Vendor Guide, 2018” (content available only to Gartner clients)
Looking at Amazon alone, a survey of 500 brands from marketplace technology vendor Feedvisor finds that 54% of responding brands sold on Amazon and consider it critical to their sales. But this trend has gone beyond Amazon. Retail giant Target is joining the marketplace game. In February 2019 they announced the launch of their online marketplace for third-party sellers, Target+.
A major appeal to customers is they can get the perks from the big brand marketplaces, such as Amazon Prime delivery or the 5% Target RedCard discount, while buying products from smaller businesses such as yours.
Our recommendation: When launching a project to digitize, update, or expand sales, it’s important to strongly consider partnering with an online marketplace to sell items. This can be a low-cost way to increase the chance of exposure to a wider audience, let customers use perks from the larger company, and stay competitive with the online experience shoppers want.
Prediction #3: Mobile apps will have the most business impact on success by 2020
Smartphone ownership has grown phenomenally in the last decade. Businesses are seeing this trend and are learning how to meet their customers and employees where they are, on their smartphones.
And this trend isn’t going anywhere as mobile devices are the default tool of Generation Z—an up-and-coming workforce, which roughly accounts for 30% of the total U.S. population. Businesses stand to benefit from mobile applications if they want to effectively engage with and empower this generation as both employees and customers.
Gartner’s prediction:
“Mobile apps are projected to have the most impact on business success by 2020.”
Source: “Gartner Says the Future of App Development Is Multiexperience”
Our recommendation: Your business should consider mobile apps in order to support the new ways that employees want to collaborate and the way customers want to interact with your brand.
For employees, the mobile app version of core company systems encourages them to collaborate on work in a similar environment as they likely do with friends and family. Providing an app on their smartphone is a low-risk way to boost engagement and overall productivity. For example, your project team can use the mobile app of your project management software to update tasks and access documents quickly, wherever they are.
For customers, interacting with your business via a customized mobile app can increase engagement with your brand. Your app can send the shopper push notifications about sales or tracking updates, provide a more immersive experience such as the AR in prediction #1, and build brand loyalty by being the little logo they click when looking for an item you likely sell.
Additional resources to help you out
Interested in learning more about augmented reality for retailers? Click here for a detailed guide on everything you need to know about AR for the retail industry.
All mobile apps aren’t created equal. Check out this article on how to pick the best type based on your business model. Yes, it is aimed at supply chain management mobile apps, but the app types and strengths are the same across the software market.
If you’re looking for project management software that has a mobile app, or any other type of software that offers apps, you can start a live chat with one of our software experts to get a detailed understanding of different tools and their features. Or, you can schedule time for a phone call here. It’s all free to you. No sales pitch, just software advice.