What emerging trends can we see in 2022

The COVID-19 outbreak has brought changes in the lifestyle of people’s lives that existed in the pre-COVID-19 era. Every person and business during the pandemic period was impacted at different levels. However, to sail through this challenging time, many companies took various alternatives to sustain themselves during this period.

The technology sector is one such sector that acted as a strong backbone for most other sectors during the pandemic period as many businesses were operating from remote locations. People started placing orders online, which reduced the footfall in the shopping centres and malls. These changes gave birth to new trends.

Other than this, people’s focus also changed towards saving the planet. Countries worldwide are looking at means to lessen carbon emission and global warming and safeguard the upcoming generation.

This article will look at three of these sectors gaining market attention and the emerging trends in these areas.

The technology sector played a crucial role during the pandemic period and supported many businesses to do work from home. This sector continues to evolve. At present, the Australian Government’s focus is on digitisation. In the coming time, how well Australian businesses, governments, and the workforce keep pace with the change in the technology and digital frontier will define the future prosperity of the country.

The Australian Government estimated that the potential benefits through digitisation would be AU$315 billion over the next 10 years. It has the potential to create a quarter of amillion jobs by 2025.

During the COVID-19 period, the demand for digital technology grew, and it also showed the role it can play to support other businesses across different sectors of the economy.

The Australian Government’s Digital Economy Strategy sets the way the country will safeguard its future as a modern & top digital economy and society by 2030. In this process, the Government recognised three main pillars. These are:

• To build a foundation that would support growth as a digital economy. It includes the policy setting which would help the digital economy to prosper.
• Building capability in emerging technologies.
• Setting digital growth priorities to lift the goals. For this, the Government has recognised 4 planned priorities across the economy. These strategic priorities include:
• Improving the digital skill of SMEs.
• Assisting modern & globally competitive industry sectors in areas like manufacturing, agriculture, mining, and construction.
• Developing a vibrant & developing technology sector.
• Providing simple and safe digital government services.

The Government aims to collaborate with the private sector to drive growth, jobs, and capability in these areas.

Trending technology trend in focus:

• Data sharing with others in a closed environment or value chain is giving birth to new business models.
• Cloud is going vertical. The focus of the businesses from this space has moved from meeting the IT requirements of the industry-agnostic organisation to meeting the unique strategic and operational requirements of each sector as well as subsectors. Hyperscalers as well as Software as a Service vendors are working with global system indicators & customers to deliver modularised vertical-specific business services & accelerators that can be accepted and built upon for exclusive differentiation.

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• Blockchain is another trending area gaining huge market attention.
• Automation at scale. With so much available data and the manual work involved, many businesses are trying to automate some monotonous and manual work.
• Cyber AI is another area that is trending. Many countries globally are experiencing huge losses due to cyber-attacks. Cyber AI is one such area that can be a force multiplier that allows organisations to respond quicker than their attackers can take action. 

The energy sector is undergoing many changes in the present times mainly because of the rising concerns related to the increase in carbon emissions. Further, the tight global gas markets have reinforced the significance of continuous investment in Australia’s gas resources. The Government is also planning to invest AU$6.1 million to accelerate JET Charge’s roll-out of electric vehicle (EV) charging infrastructure. Another area the Government is looking at is the recycling scheme for household batteries.

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Key areas that are in the spotlight in the Energy sector:

Hydrogen energy sector

Net zero-emission is one of the key areas of focus worldwide. Governments worldwide are making efforts to reduce carbon emissions.

Many countries are now focusing on green hydrogen. Green hydrogen is made of renewable energy sources. It has the potential to replace fossil fuels in the coming period. Presently trials are underway in Australia and many parts of the world concerning hydrogen-powered vehicles and buildings.

There is another concept of blue hydrogen produced from fossil fuel, but the carbon dioxide produced in the process would be caught and stored underground.

Investment in gas:

The tight global gas markets and rise in gas prices between March and August 2021 have drawn huge market attention. Australia’s southern states might depend on gas from the north to avoid a deficit on certain days in 2022. Because of a reduction in forecast production in the Gippsland and Cooper Basins. As per ACCC, the development of basins like the Beetaloo (NT), North Bowen (QLD), Galilee (QLD), and Gunnedah (Narrabri, NSW) would help to improve the deficit.

Further, government-led steps like the Energy Ministers’ pipeline reforms along with the voluntary Code of Conduct will benefit gas users.

Roll-out of electric vehicle charging infrastructure:

Through the Clean Energy Finance Corporation Innovation Fund, the Government is investing AU$6.1 million in JET Charge’s AU$25.5 million capital raise.

Recycling of Household Battery:

Most batteries in the present times are recyclable. Still, 90% of batteries are thrown, which impacts the environment. Because of the new B-cycle scheme, old batteries can enter the recycling loop. Australian people can drop off their used-up household batteries at thousands of supermarkets, shops, and community clubs around the country.

B-cycle presently accepts the smaller alkaline and lithium batteries from remote controls, toys, tools, torches, etc. The scheme aims to expand its intake to include larger batteries from EVs and energy storage systems.

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In the healthcare sector, the most discussed topic after COVID-19 is the rise in the number of cases related to depression, anxiety, post-traumatic stress, etc. There has been an increase in mental health conditions amongst the population and the healthcare workers.

A recent report published by Forbes highlighted that even people with slight COVID-19 symptoms had shown signs of mental disorder.

Considering these facts, one of the critical areas from the healthcare space that might be in the spotlight would be a mental disorder in the coming period.

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