The first six New Mega Trends are; Connectivity and Convergence, Bricks and Clicks, Urbanization, Smart Is The New Green (smart meters, smart mobility, etc.), Social Trends, and Health, Wellness and Wellbeing. Frost & Sullivan will unveil the others at the conference.
In the future 81 percent of us in the UK will be living in urban areas.
There will be 200 million connected devices and one in four British citizens will be shopping online – the highest number in the world, per capita.
The over 65s will represent one fifth of the population, becoming one of the largest consumer groups with increasing healthcare needs.
The country’s South East region will grow to become the second largest region after London, accounting for 15.3 percent of total GDP.
The UK will have 200 million connected devices (approximately six for every household) by 2020.
The country is on the path to becoming a digital economy with new business models and digital innovation hubs.
Retail in the UK, which has benefited from the proliferation of digital devices, is transitioning from brick and mortar supermarkets to virtual stores and online hypermarkets, which merge both bricks and clicks.
The Bricks and Clicks Mega Trend is influencing most British retailers to transition from having a single/multiple channel to an integrated cross-channel model, merging physical and virtual forms of retailing.
The UK will have the largest online retail penetration in the world as 26 percent of all retail sales will be online by 2025.
Over 80 percent of entertainment products will be sold online by 2025.
The new retailing business models in the UK have opened up new commercial opportunities for allied industries such as logistics.
The introduction of innovative options such as click and collect are addressing challenges associated with making urban deliveries.
The UK will follow the global pattern of cities – not countries – driving wealth creation in the future.
London accounted for 20 percent of UK’s GDP in 2011 and could contribute about 25 percent in 2020.
This rapid rate of urbanization will compel companies to target cities as their growth markets, with most UK cities also expected to become the micro manufacturing hubs or digital hubs of the country by 2025.
Urbanization will also influence companies to become more rational and optimal in their operations, creating a new ‘smarter’ UK.
Smart Is The New Green Mega Trend will see smart initiatives replacing green concepts in many parts of the UK.
Smart technology will find its way into most homes, with nearly five million broadband homes expected to have at least one smart home system by 2017, generating £1 billion in digital revenues.
Smart Mobility will save millions of pounds from reduced congestion as more door-to-door integrated mobility solutions are introduced.
Smart grids are expected to increase energy efficiency by 30 percent.
Nearly 43 million Smart Meters are expected to be installed in 30 million UK homes by 2019 generating £14 billion to Britain by 2020.
One out of five people in the UK will be aged over 65 by 2020.
The 65+ group is expected to contribute £77 billion to the British economy by 2030 (from £42 billion in 2011), with spending power to increase to £130 billion in 2030 (£78 billion in 2011).
Future opportunities from Social Trends include new services and solutions in Healthcare, and neighborhoods for aging citizens with new technologies such as robotic care for the elderly.
Health, Wellness and Wellbeing in fact would become a key Mega Trend for the UK as preventive care becomes more important and relevant to its aging society.
The future of Healthcare will be focussed more on wellness and well-being that define mind, body and soul. This will create new opportunities in e-health, regenerative medicine, personalized medicine, health kiosks, tissue engineering, nutraceuticals, healthcare tourism, cybernetics, and non-invasive surgery.