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Holiday Tech Market

With Christmas around the corner, people all over the world will begin spending money on gifts for their loved ones. Both gift-givers and receivers hope to incorporate popular products. At the same time, companies are trying to gain an edge and display their flashiest products to increase revenue. The 21st century has been marked by the innovation of new technology. As expected, technology will lead the way in gifts. BusinessNewsDaily estimates that American shoppers will spend 97 billion dollars this holiday season. As some would expect, laptops and smartphones are projected to take the top spots. But what about the tech items flying under the radar? And what important benefits stem from all the tech frenzy?

Content products will comprise a large portion of sales. Items such as video games or subscription services keep their feeling of novelty. Everyone can remember at least once when they desired an item, and then after a while, it lost its charm. Nowadays, gifts with included content lead the way. According to Lesley Rohrbaugh, director of market research for the Consumer Technology Association, “We are in the golden age of content as more people consume more content across more devices.” Video game consoles or subscriptions such as Netflix or Spotify contain an array of options. Subscriptions allows a user to cycle through new content when their current choice gets too monotonous. The video game industry is now surpassing $100 Billion in valuation, with estimates of over 2 billion players worldwide (Business Insider). Nintendo’s Switch, Microsoft’s Xbox, and Playstation from Sony dominate the video game market. The categories for games to use with these systems are endless. In addition, Google released its platform, Stadia, in late November, and Apple will probably follow up soon with its own gaming network. In the video entertainment realm, Netflix may lose its monopoly hold, as Disney+ started in November, receiving positive feedback early on. Many other companies are also suspected to begin their own streaming service. The increased competition could drive down prices, in an attempt to snag bargain hunters; another circulating thought is that with all the individual platforms, users may become frustrated with not having one service contain all the content. Having multiple platforms could lead back to film piracy, a big problem in the early-mid 2000s. Because of the continual refreshment of content, streaming services will dominate the holiday market this year.

While many products are targeted for individual and entertainment purposes, they help propel major developments. According to Forbes, technological developments in 2020 will significantly advance the medical field. Artificial Intelligence and Robotics will help in a multitude of fields, including administration and statistics/data. A big test field for AI comes from products like Amazon’s Alexa or Google Home, which are bound to be popular gift options. People like having additional help, and they return the favor to the companies as AI capabilities grow with increased human interaction. Trendy items such as wearable tech, 3D printers, and virtual reality will also play an important role. Tech companies such as FitBit and Samsung are now including health trackers into their smartwatches, which can provide doctors with additional information. The ingenuity of 3D printing engineers and creators could offer cheaper and more efficient dentistry and prosthetic replacements. Even virtual reality, which has built off of the entertainment market, will help medical students and doctors practice for different operations and scenarios. While some companies are making products for common users, their products could advance medicine, and other fields, in the future.

Over the past few decades, technology has advanced thanks to some ingenious creators. However, as society continues pushing the bar higher, humans should not get prideful. God orchestrated all these inventions to happen. The tower of Babel was an interesting concept for its time, but the people relied on themselves and God reduced them to a confusing mess. Compared to God, we amount to nothing. We needed Him to send Jesus to rescue us from our impending death.

Sources:
https://www.businessnewsdaily.com/15315-holiday-tech-spending.html
https://www.forbes.com/sites/bernardmarr/2019/11/01/the-9-biggest-technology-trends-that-will-transform-medicine-and-healthcare-in-2020/#2ef2decc72cd
https://www.businessinsider.com/video-game-industry-120-billion-future-innovation-2019-9

2 Comments

  1. Great Job!!!