80% of executives think their current business models are at risk to be disrupted in the near future and 84% say their future success is extremely dependent on innovation. So, what are the five top innovation trends that will mark 2019, and where should businesses be placing their bets?
5 Corporate Innovation Trends
9 in 10 retailers are planning to adopt gamification strategies within the next five years. Gamification to-date has focused on technology and game-design but is now evolving into a science backed by rigorous research, theory, and frameworks. This is a shift in focus from short-term tactical solutions to long-term strategic development. With 200 million people registered on the world’s most popular video game and an estimated gamification market of $12 billion (up 143% from 2017), it is clear that gamification is #trending.
Gamification is built upon 10 primary game mechanics proven to motivate and engage users, and may use any combination of these techniques to accomplish business goals:
Source: Bunchball, 2018
The autonomous vehicle (AV) market is estimated to hit $54.23 billion and is a key trend that will mark 2019 (and is anticipated to grow to $556.67 billion in 2026). Waymo, a current trailblazer launched its self-driving taxi service in the Phoenix area at the end of last year. The UK government anticipates fully autonomous vehicles on the road by 2021. And when we say autonomous, we aren’t only referring to cars —drones (for last-mile delivery) and ships are right at the heels.
Check out this Ted Talk on how AVs will transform our cities:
3. Immersive Experiences
The buzz with augmented reality (AR) glasses came and went, but then the likes of games, such as Pokémon Go, brought AR glasses back from the dead. They are predicted to have a 228% increase worldwide by 2022. It is happening with apps as well with a 400% revenue increase from 2019 to 2022. Immersive experiences aren’t limited to just games. These technological applications also allow emergency responders to be able to detect where danger is and which individuals need assistance. Other companies, such as XYZ Reality, are revolutionizing the construction industry by delivering a 3D view of a construction site reducing disputes and tolerance errors. A final example is Your Home Made Perfect, featured on BBC2, where they use virtual reality to remodel a home. Sounds like a dream, right?
4. Smart Spaces
It is no longer just about condensing but specificity — from workspaces that gather like-minded individuals to smart factories that are more efficient. This is all building up to the impending next stage we’re all working towards: smart cities. Check out what a work place can look like in 2019:
From the circular economy in our products to watching what we eat, sustainability is a required trend across industries and the planet. There is no denying we are moving in the right direction with 14% of Brits now identifying as flexitarians and the UK parliament declaring climate change as a national emergency. However, change also needs to be driven by corporations of the world. If you’re in search of inspiration, here’s 24 innovative startups making climate change impact in 2019 and 15 food startups to watch.
From Trending to Innovating
Are you one of the 80% that understands your business model is at risk? Or, have you felt the sting of the 95% of product innovations that have failed? At RocketSpace, we work with corporates to understand the most opportunistic areas to innovate – not just to stay relevant but to disrupt. We do this based on industry trends, investments, academia, in-house tools, and, of course, our incredible ecosystem of startups (reviewing over 16,000 startups is not unfamiliar to us).
Are you and your organization ready to take your innovation delivery to the next step?
RocketSpace offers corporates proven methodologies to drive delivery to hit critical growth milestones, and does so in a way that inspires innovation – creating the best of both worlds.