Industries Set For A Strong 2021 – The Predictions:
Who could have predicted 2020 would shape up as it did? Yet it does mean we can have a good guess at the contenders for the strongest performances in 2021. Alongside the obvious retail giants and pharmaceutical companies, many industries are expected to see growth this year. And that will be as a direct result of the world adapting to the challenges of 2020. Digital transformation will undoubtedly be at the heart of most success stories. So, companies who have best adapted to the digital environment may well be the ones that thrive in 2021.
No one can have missed that the pandemic accelerated digital trends on a global scale. On the back of this, businesses who provide services in this arena have lots to look forward to in 2021. Also, the need to accelerate digitisation plans caught many businesses off-guard in 2020. This meant that some safety and best practice measures will have been overlooked – something that cybercriminals will be looking to take full advantage of. As a result of this, 2021 will likely be Cybersecurity’s biggest year yet. Its budgets have indeed seen steady growth year on year for some time now. But with the added emphasis upon GDPR compliance, 2021 is likely to see a spike in sales.
Few can deny that 2020 was a tumultuous year for our young people. The pandemic is something that has impacted us all. While most countries have tried to limit school closures, the world of education has faced enormous challenges. Parents have had to become school teachers at the drop of a hat. Social distancing put paid to any practical lessons, and that’s not even touching on the fiasco surrounding exams. So, it was only natural for tools which facilitated these priorities to experience growth. And that is a trend we can expect to see continue well into 2021, if not throughout.
While online learning tools are nothing new, educational institutions have traditionally been slow to adopt new technology. In an odd role-reversal, no doubt relished by young people everywhere, children are now in a position to teach the teacher! But it’s ok, this falls neatly into the National Curriculum’s liking for consolidating knowledge by teaching others – so it’s all good! The necessity of online learning tools throughout the pandemic cannot be underestimated. It has forced the normalisation of home-schooling and online classrooms, and it will be unlikely for this trend to disappear in a post-Covid world.
There has been much focus on the negative side of the pandemic. But, as this post shows, there are always winners as well as losers in any major crisis. A ‘winner’ with an incontrovertible positive is the rising start of eco-friendly technologies. Increasing awareness of the environmental impact of diesel and petrol cars, along with an urgency to act in the face of climate change, has been looming over the traditional car manufacturing industry for some time. As the pandemic ground travel to a halt, oil prices were greatly affected, and satellite imagery released by the European Space Agency showed that air pollution across the world had seen a dramatic reduction.
In November, Boris Johnson announced a new green plan for the UK. This included the pledge that from 2030 there would be no new cars or vans sold which are powered wholly by petrol or diesel. The plan also includes investment into off-shore wind, nuclear and hydrogen power as well as aiming for net-zero emission planes and maritime vehicles. Naturally then, there is likely to be great opportunity for growth for businesses with a focus on developing eco-friendly technologies in 2021. Tesla, the electric car producer, saw its stocks skyrocket by 492% in 2020. Audi too, is committed to bringing electric cars to market faster than they had originally anticipated. So, 2021 look to be a big year for eco-friendly tech!
Written by Steve Burns
Steve is a chartered financial planner who has been with Lewis Brownlee for over 20 years, who now heads up Lewis Brownlee Financial Services. Under his directorship, the firm has established itself as a specialist provider of professional, informed and impartial advice.