Insights into a Shared and Connected Future: Predictions for 2021

By now, we’ve all recognized the irony in 2020. It was anything but the year of perfect vision. In fact, I think most of us would agree the start of the 2020 decade has been more “cataract-like”— our ability to view what's immediately in front of us became increasingly cloudy, dense and confusing. 

As we turn the corner to a new year and our “NOW Normal”, it appears some things are more predictable now, with the pandemic accelerating the long-awaited adoption of Internet of Things (IoT) technologies across nearly every industry. That said, I’ve got a few predictions of my own:

·       Remote work is here to stay

Safe to say, after almost a year in the experimental phase (for many companies), the ability to work from home has turned out to be a life saver for both businesses and employees forced out of the office as a result of lockdowns. That’s just one of the reasons it’s here to stay. With a dispersed workforce, organizations are bound to shift to more cloud-based business activities and use more IoT devices, tools and platforms—from video conferencing to remote monitoring—all of which will allow them to reduce business travel, office space, overhead and in-person events while increasing online training and recruiting from a global talent pool.

·       Streaming video will define the future of connected homes

While so many smart home technologies have struggled to gain traction with consumers, streaming video has taken off like a SpaceX rocket. Smart home technology has been hyped for years, and 2020 offered a massive opportunity to introduce new consumers to a connected home lifestyle. Yet, other than Zoom and Peloton, the biggest winners were streaming media players.

2020 was expected to be a year when a flood of new streaming video entrants would create an all-out battle for consumers’ time, money and attention. Instead, with movie theaters, sports stadiums & concert venues shut, media veterans and new players capitalized on a captive market excited to escape pandemic-mania. 

From Netflix to Disney+ to HBO Max, the largest streaming services are expected to end the year with 50% more US. subscribers. According to Kagan research, American households now subscribe to 3.1 streaming services on average—up from 2.7 last year. And, three out of four US households subscribe to at least one streaming service, per MoffettNathanson data.

While the smaller players may have challenges retaining customers after COVID lock-down ends, expect the larger streaming services to capitalize on their huge momentum. I predict Apple, Amazon, Google and others will launch new content in fitness, wellness, music, gaming, and education to create stickier subscription bundles so consumers become lifetime loyalists. 

·       Physical retail will fully embrace high tech

Long before COVID-19, physical stores had been struggling to increase foot traffic as consumers demonstrated a preference for the convenience and competitive pricing of online shopping. And while it is still too soon to tell the fate of physical retail, major brands are wasting no time launching new technologies, from smart sensors and contactless payments to autonomous delivery via drones and self-driving robots. In 2021, we can expect to see IoT power richer consumer experiences, with an increased level of personalization to enhance engagement, brand loyalty and satisfaction.

·       Telehealth—and mental health—will be integral to healthcare

Telehealth had been gaining momentum in recent years but, with the onset of COVID-19, it seemed telemedicine exploded almost overnight. Now, with cities and businesses across the U.S. facing the real possibility of more lockdowns, telemedicine will undoubtedly play an integral role in healthcare moving forward, as long as the changes made by the government to ease restrictions and regulations enabling telehealth are permanent. Beyond providing urgent care for coronavirus symptoms, telehealth will increasing respond to the everyday health needs of people who have been holding off on addressing other healthcare issues, as well as provide emotional and mental health support—something medicine has been circling for years but never quite corralling until now. 

·       More people will age in place

Promising applications and IoT devices will assist with everything from medication dispensing to monitoring glucose levels in order to enable people to age in place. With a range of wearable devices and apps allowing for more independent living among the elderly and chronically ill, continuous monitoring technologies will help families and caregivers track activity and share data with healthcare providers. Several pill bottles, for example, are now internet-enabled and contain sensors that send data to the cloud regarding time of cap opening, closing and medication removed to avoid errors. Some devices use changing colors to indicate when medication is to be taken and when it has been dispensed and send reminders via text message, email or automated phone calls. Patients at home will also be able to use devices that connect health professionals to their EMRs (electronic medical records) so that chronically ill patients can avoid visits to clinics and hospitals during the pandemic and after it is resolved.

·       The way people get around will never be the same

Pre-COVID-19, electric bikes, ride-sharing services and mass transportation ridership were on the rise, with smart mobility gaining attention as a revolutionary way of moving from destination to destination efficiently—one that is cleaner and safer. While the future of mobility has paused with the pandemic, one thing is for certain: the way we move people and things will never be the same unless we address the changing dynamics and uncertainties facing the present-day consumer. Air travel in particular, is likely to experience another evolution comparable to that of post 9-11, with temperature checks and improved sanitation measures to ensure a clean in-cabin environment essential to its survival.

·       Industrial IoT will ramp up adoption of connected technologies

More organizations will utilize robotics, drones, artificial intelligence, machine learning and data analytics to optimize productivity and harmonize workflows. By harnessing the value of data collected through distributed sensors and assets, they will incrementally improve outcomes for risk management, operational safety, maintenance, performance optimization and operational excellence, while at the same time collapsing cost and complexity and serving as a catalyst for new discoveries that will lead us to a healthier, more connected future.

·       The Smart City revolution will continue

While there is not yet a single blueprint for developing a smart city, many of the world’s best are already adopting new policies that will position them for efficient and sustainable growth. What the future holds depends only on how far we can stretch the imagination. As smarter cities become trailblazers, we can expect to see more automated city services, including smart kiosks, traffic lights, utilities and real-time monitoring for air quality, inclement weather, congestion and crime.

It is thrilling to realize where we are now, standing at the precipice of a new dawn. We have certainly taken great strides in the last five years, laying the foundation for digital transformation without realizing COVID would be the great accelerator.

Now, in the midst of a global pandemic, it will be more important than ever for companies to form industry partnerships and work together…even with competitors…to bring forth the kind of technology that not only solves problems but also provides enjoyment in our homes and in our lives—something we will certainly need in 2021.