Major Digital Business Trends in 2021

Digital technology has had a huge impact on business since the turn of the century, and this trend will undoubtedly continue over the coming years.

Tech has transformed the way that virtually every industry in the world operates, helping to make their various processes run far more efficiently.

The organisations that have fully embraced tech advancements have benefited the most, giving themselves a competitive edge against rivals who were slower to adapt.

The old adage of ‘time doesn’t wait for anyone’ certainly applies where business is concerned, so read on as we look at some of the major trends to follow in 2021.

Digital Marketing

Whether you use the services of a top agency such as SportsHabit or an in-house marketing team, it is imperative that they keep themselves abreast of the latest digital trends.

One area where businesses are expected to explore new opportunities in 2021 is connected televisions (CTVs), particularly in European markets.

An initiative launched by Google, IPONWEB Roku and Fincons Group will explore advertising opportunities in the sector, and this should have a massive impact moving forward.

With analysts predicting that more marketing budgets will be aimed at CTVs, this trend could explode over the next 12 months.

Payment Processing

Digital tech has driven significant changes in the payment processing industry in recent times, and that trend will continue throughout 2021.

While credit/debit cards and e-Wallets still remain popular with consumers and organisations, open banking payments and cryptocurrencies may well come to the fore next year.

Open banking services such as Trustly have already made considerable inroads in Europe and the United Kingdom is now expected to jump on the bandwagon.

Cryptocurrencies also look ready to make their mark, with an increasing number of industries becoming switched on to their benefits from a security perspective.

Live Music Streaming

The landscape in the music industry has evolved at a rapid rate during the 21st century, and 2021 is likely to see even more developments.

With streaming services such as Spotify making it difficult for artists to make a living from selling albums, touring and merchandise sales have become increasingly important.

However, staging live events can be extremely costly, driving many musicians to explore whether they can effectively monetise live-streamed concerts.

The likes of Tom Grennan and Joe Carnall Jr have had already had success in this area, and many other artists will follow suit in 2021.

5G Connectivity

Improvements in internet technology have revolutionised numerous industries, and the rollout of 5G connectivity will ramp things up another notch.

The sport will be amongst the sectors where 5G will have the most significant effect, with live betting, in-stadium experiences and data analysis all likely to be positively impacted.

Major leagues such as the NHL and NBA have already been exploring the possibilities of 5G tech, and many others will soon follow in their footsteps.

Education, public sector, healthcare and banking are amongst a plethora of other areas where 5G will have a significant impact.

Artificial Intelligence

Artificial intelligence (AI) has been a buzzphrase in business for a while now, but it is anticipated that its prevalence will explode in 2021.

The retail sector has already leveraged elements of AI to great effect, using it to improve processes such as logistics and stock management.

AI will become more prominent in customer service during 2021, with organisations increasingly using chatbots and virtual assistants to support these functions.

With the possibilities offered by AI still not fully unlocked, it is highly likely that retail will not be the only industry to benefit during the next year.