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Published On: Tue, Feb 11th, 2020

3 Business Trends In 2020 To Keep An Eye On

As the year begins, key insights as to what trends the next 365 days will bring are important to forecast because this knowledge will give you the tools moving forward in order to be ready for whatever comes up that horizon. Being prepared gives an edge and advantage over the competition. To best be up-to-date on the top three business trends this year, this is the article to be reading. 

The health industry continues to rise as more become enthralled with all it has, and promises, to offer. One of the latest health trends on the horizon comes in plant form. The vegan way of life has dominated the social and business landscape for a few years now, and it seems to grow stronger by the month. Docu-series on Netflix and countless news stories have covered the vegan movement, but what is all the hype about? Understanding the key elements as the trend continues to rise are more important to learning about this growing lifestyle.

photo/ Gerd Altmann

Veganism is popular for a number of reasons, including the fact that it could have health benefits for you. It limits the number of detrimental foods and drinks that you can consume on a daily basis, oftentimes replacing them with healthier options. Its popularity has grown to the point that businesses are beginning to roll out their own vegan products. Tyson Foods, a juggernaut in the meat industry, owns a 5% stake in Beyond Meat, which produces vegan options to the classic burger patty and other items. Chain and fast food restaurants are coming out with menu options that use Beyond Meat as a vegan alternative. More of these products are likely to appear in 2020, boding well for those invested in the vegan market.

Number two on this list comes with a new shift to the workplace: automation. This trend is projected to grow sizeably in upcoming years. Machine workforces are an enticing concept for many companies. The low cost and little margin for error drives owners’ desires to incorporate computerized minds in their own businesses. Machines aren’t able to bring their outside lives into work, resulting in a more uniform workflow that won’t see the negative impact of emotional holdups. Since they’re completely controlled by those hired to maintain them, there’s no need to worry about the types of errors and lackadaisical work that you might see with human workers. 

While a continuous work day is appealing for those who run businesses, it’s a serious risk for those in danger of losing their jobs to automation. For this reason, as automation continues to grow throughout multiple industries, so will resistance to it from unions and other organizations. Expect this trend to be a hot topic moving forward, with companies weighing the pros and cons of introducing more machines to their workforce.

photo/ Gerd Altmann

Lastly on this list is 5G technologies. 5G possesses a few key differences from 4G/LTE. For instance, 4G/LTE is unable to operate on a high-band spectrum. This spectrum offers greater interaction speeds and low latency rates than mid- and low-band spectrums, which are what 4G/LTE operate on. While high-band spectrum has its own flaws and isn’t ideal for coverage over a large area, it drastically improves your online experience by reducing the time in it takes to complete countless different tasks. 

Some companies, such as Sprint, are making a major 5G push that, if implemented properly, could have major effects on every corner of the communications market. 5G could replace 4G/LTE in many cases, or could be used to improve upon 4G without completely usurping it. At any rate, it’s clear that the increased prevalence of 5G is going to have a major impact on any company vying for dominance in the world of communication.

Trends wax and wane, but those that are able to stick around for long enough can alter the trajectories of entire industries. These three trends are set to continue to be a large aspect of the business world this year and for years to come. 

Author: Patrick Dales

About the writer:
Creative writing for five years; I have loved every step of the way. Business writing is a passion and the goal is to pass along valuable information so others can enjoy the business world as well!

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