Megatrends

It is widely recognised that both manufacturing practices and technologies, and the broader landscape and markets within which manufacturers do business, are going through a period of significant change.

In society and in the world we can see certain developments- political, social and environmental- which taken together can be described as ‘Megatrends’. A megatrend is a long-term change that affects governments, societies and economies permanently over a long period.

This research, conducted in partnership with Noventum Service Management identifies how five societal megatrends are driving growth opportunities for manufacturers. The research gathered opinions from a range of sources such as large Original Equipment Manufacturers (OEMs), small and medium sized manufacturers and opinion leaders.

The five megatrends studied are:

• Health and Aging: The aging society and increasing importance of healthy living and lifestyle

• Green and resource scarcity: The increasing demand for environmentally friendly products and services

• Value change towards transparency, diversity, individualisation and freedom of choice, as well as demand for meaning and connectedness

• Inequality and Social Exclusion: The increasing market share of poor customers, the demand for ‘frugal innovations’ and ‘micro-provision’

• Globalisation and the need for community: The increasing emphasis on communities, localities, etc. to foster identity in a globalised world