The only constant in our world is change. And the speed of change has been accelerating significantly over the last years, fueled by massive investments in technology and science, easier access to truly global markets, and a general cultural shift towards innovation – among other key drivers.
Those who really understand these changes, who adapt to them and find solutions to changing customer needs based on innovative products and services, will benefit immensely. Those who lack understanding of those changes, who postpone key decisions, or who fail in launching and scaling innovations, will fall behind and vanish. The most prominent development of this accelerating war for innovations is the severe decline of the average lifespan of S&P 500 companies, which has been going down from 90 years in 1935 to currently only 18 years – with 75 percent of current S&P 500 companies expected to disappear until 2027, according to research by McKinsey.
This TrendCompass aims at providing facts necessary to understand these market dynamics and to capitalize on them, presenting the 12 global key trends that will shape our future over the next years.
Find out more about the TrendCompass 2020 in this short video.
This report is the first of two parts, examining how technological and economic drivers change customer behavior and challenge businesses. Trends examined in more detail include Human Enhancement, the Nomad Workforce, the Rurban Revolution, and the Avatar Employee.
We analyze each trend in terms of global economic potential in 2025 and assess it in terms of customer maturity. Overall, we expect a global economic potential, based on all 12 trends identified, of up to 2,700 billion U.S. dollars in 2025 - equivalent to 2.7 percent of global GDP in 2025.
All our 12 trends are also presented in the context of inspiring innovation snapshots from different industries and markets, accompanied by the most relevant and up-to-date data.