Fast Forward by FSM - Summer 2024
Welcome to Fast Forward, Fast Slow Motion's newsletter for anyone who sells B2B. Each quarter we compile data and research from interviews with our clients, consultants, and our extensive network of industry experts to identify sales opportunities in industries including financial services, retail, consumer goods, healthcare, life sciences, and many more.
As the summer sun heats up, we’re excited to bring you the latest quarterly edition of Fast Forward! Dive into this season's edition for all the essentials to succeed this summer and seal more deals. Discover insights on uncovering B2B opportunities and gain valuable business growth tips you or your prospects can use in our brand-new podcast!
In this edition:
OUR BIG BETS
Smart home market
The global smart home market, valued at approximately $80.21 billion in 2022, is forecast to soar to $338.28 billion by 2030, achieving a CAGR of 20.1%. This robust growth is driven by an increase in internet users, rising disposable incomes in developing countries, and a heightened focus on energy efficiency and reduced carbon emissions. Smart homes, equipped with devices for smart lighting, home security, smart appliances, and entertainment systems, facilitate enhanced home monitoring even in remote areas. This integration of technology into daily living underscores the market's rapid expansion as more consumers adopt smart home solutions.
Travel insurance
The U.S. travel insurance market is currently valued at approximately $4.79 billion and is projected to surge to $21.15 billion by 2032, growing at a CAGR of 18.14%. This growth is fueled by Americans' increasing demand for financial and medical protection while traveling, especially internationally. With travel uncertainties like illness and natural disasters impacting trips, nearly half of Americans express heightened travel concerns, yet continue to plan an average of 2.4 domestic trips annually. The expanding coverage reflects the growing need for security, with sales rising by nearly 15% and over 148 million Americans now protected by travel insurance. Safety concerns now take precedence over health when choosing international destinations, highlighting a shift in priorities among travelers.
Pet food delivery
The U.S. pet food delivery industry is mirroring the personalization and convenience trends seen in human food services, with significant growth anticipated. In recent years, subscription and gourmet pet food have represented 16% of total pet food sales. Household spending on pets is projected to increase annually, driving demand for services like same-day delivery of fresh pet meals. Direct-to-consumer sales are thriving, bolstered by an increase in pet ownership and a growing preference for specialized pet diets. The sector is expected to see robust growth, with the personalized pet food delivery market projected to expand significantly by the end of the decade.
领英推荐
Concierge medicine
The U.S. concierge medicine market was valued at $6.7 billion in 2023 and is forecast to expand at a CAGR of 10.37% through 2030. Concierge medicine is a healthcare model where patients pay a retainer fee for enhanced access to their doctors, encompassing services like office visits, 24/7 physician access, lab tests, house calls, and care while traveling. This model is characterized by shorter wait times and higher physician compensation and satisfaction, contributing to its growth. Additionally, the increasing elderly population and rising demand for personalized healthcare services are expected to further propel the market's expansion.
THE FAST SLOW MOTION PODCAST
We recently launched The Fast Slow Motion Podcast, and the episodes include a ton of practical advice and real-world wisdom for your prospects on how to build a business they love while enjoying their life. Check out one of our recent episodes, “Give Your Business and Edge With A.I.,” for some timely tips on how businesses can make use of A.I.
You can find all the episodes, as well as links to the podcast on your favorite podcasting platform, at fastslowmotion.com/podcast.
THE CONSULTING PARTNER OF CHOICE
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Since we began in 2014, we’ve helped almost 1,000 SMB and Mid-Market clients implement and enhance the full spectrum of technology products across a wide array of industries. Chances are, if you have a client with a complex problem to solve, we’ve seen it before and we can help you close the deal efficiently. We’re great at coming alongside you, bringing our knowledge and experience to the table to scope even the toughest projects, and helping accelerate the sales process and close the deal. Looking for the right partner to help you close that next deal? Reach out to us via our website.
Or if you're a business owner or operator looking for a partner to help you grow the right way and regain freedom in your life, contact us to learn more.