Megatrends: Opportunities for Growth
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