This broad industry is undergoing an amazing transformation in part to technology, data analytics, the adoption of smart city solutions, increased demand for public safety and consumers desire to get products faster. Competition is fierce and complex, last mile transport is presents challenge and opportunities and technology startups (disruptors) are changing parts of this industry’s landscape. Innovation, data analytics and unique B2B/B2C operational solutions all remain paramount to company’s operating in this space. Moving forward, this industry will likely see a large number of mergers and acquisitions (M&A) that should help achieve scale through consolidation, improve supply chain/distribution and achieve greater operational efficiencies.
MEETINGS, INCENTIVE, CONFERENCES & EXHIBITIONS (MICE) This unique industry focuses largely on group tourism and the planning, booking and operation of conferences, seminars, tradeshows and other events. The direct spend for any MICE event includes travel, registration, planning, hotel, etc. for meeting attendees, organizers, exhibitors, and hosts. This vast, diverse yet little known industry provides unique opportunities for those currently operating in this space – an opportunity that requires data analytics, insight and innovative solutions to enhance guest experience and improve operational efficiencies.
Consumers across all demographics want “Experiences.” In order to create these unique adventures and activities, sports teams, hospitality venues and leisure activities have to embrace big data and tailor solutions to their clients. Unique and creative product offerings, venue operations, socio-economic impact and revenue maximization all must be considered as social media creates or breaks this unique industry. Technology has created unique business opportunities across this entire industry from security and operations (SECOPS) to sales and promotional efforts. In addition to this, the sports, hospitality and leisure industry creates millions of jobs and the opportunity to create both a winning strategy and establish an iconic brand.
Since the early 1990’s, many viewed technologies as a way to reduce costs, automate challenging deliverables and improve productivity. Although these remain core benefits to using technology, nowadays businesses are pushing the importance of cloud computing. Businesses of all sizes are now using artificial intelligence (AI) and Internet of Things (IoT)-based solutions hosted in the cloud to broaden their capabilities and innovate quicker. Moreover, emerging technologies like blockchain and biometrics should help manage user identities and improve customer confidence
The fall of big box retailers though innovative and tech-savvy “disrupters” continue to shape the consumer and retail industry. Data analytics and customer data security are paramount to the success of any business operating within this industry. In addition to this, brand loyalty can be challenged by senior managements’ opinions/actions so a transparent and proactive approach are the new norm. Supply chain management can reduce costs and improve delivery of products/services. Today, consumers value not only the quality of product/services delivered but the community culture created by a business.
The unique and global automotive industry offers companies an opportunity to benefit from “outside the car” thinking. Growth opportunities exist in everything from emerging markets and companies to distribution channels and technology enhancements. Vehicles are becoming more environmentally friendly and artificial intelligence will help shape different industry segments (trucks, taxi, rideshare, last mile, fixed route, non-emergency transportation and POVs) over the next ten years. Moreover, emerging technologies like block-chain and bio-metrics should help improve customer confidence in autonomous vehicles.
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