Emerging Tech & Business Trends That Will Shape 2023
As we welcome 2023, it's important to take a moment to reflect on the emerging tech and business trends that will shape the coming year. From cleantech to the continued opportunity for housing solutions, the next 12 months are sure to bring a host of exciting developments. In this blog post, we'll take a closer look at some of the key trends that are set to shape the business landscape in 2023.
1. Clean Energy & Sustainability
Clean energy technologies will be a primary priority as companies have clear incentives to track their carbon footprint and minimize emissions. Businesses and governments all across the world are pursuing renewable energy-generating options such as solar, wind, and hydropower. To store this energy, battery technology will become increasingly crucial.
Businesses will prioritize sustainability, which will lead to the development and usage of ecologically friendly, recyclable, and biodegradable goods. Key industry heavyweights including Apple, Amazon, Google, and Tesla are striving to become more sustainable to minimize CO2 emissions.
2. Health Care Will Remain Strong
The healthcare industry is constantly evolving and expanding, with telehealth being just one of many subsectors that will continue to see growth. This may include implementing new technologies, streamlining processes, and providing more personalized care.
Indonesia's Government through its Health Ministry recently launched SATUSEHAT, a platform that integrates individual health data between health facilities in the form of electronic medical records (RME) to support health data interoperability through standardization and digitization. This also opens opportunity for businesses to accelerate the implementation of this program
3. Travel Industry Rebound
The ease of international and domestic travel by governments worldwide is vital for economic growth post-Covid. More travel means more transactions, which means more prospects for socioeconomic progress.
According to the WTTC report, the Asia-Pacific tourism sector will continue to rise in 2023. It projects that by 2025, travel revenue will contribute 32% more to the area's GDP than it did before the outbreak.
In addition, China's decision to eliminate quarantine requirements for international travelers starting January 8th has sparked optimism for a recovery in the global hospitality industry.
According to data from a Chinese travel website, reservations for overseas travel during the upcoming Lunar New Year holiday, which runs from January 21st to January 27th, have increased by 540% compared to last year, and average spending per booking has risen by 32%.
4. Opportunity in Housing Solution
Housing plays a crucial role in our society. However, housing affordability has become a major issue for the majority of urban residents in developing Asia. A recent study indicates that around 80% of cities globally do not offer affordable housing options to half of their population.
McKinsey estimated a significant gap in the demand and supply of affordable housing finance products at $16 trillion. This creates a large opportunity for financial service providers to create new products and services that provide housing finance for low-income families. Traditional financial service providers have not had the means to effectively evaluate and monitor borrowers in the informal sector, but this will start to change.