Assignment No.

Topic: Trends and It’s Types with explanation & Examples

Submission Date (November 2, 2020)

BY

Muhammad Abu-Bakr

18321519-013

Course Code (MGT-303)

BS. Computer Science Section (A)

Submitted To

Ma’am Asba Arshad

Department of Computer Sciences

University of Gujrat
 TRENDS
Definition: -
A Trend often provides one of the greatest opportunities for starting a new
venture. OR A Trend is the general direction of a market or of the price of an asset.
Trends can vary in length from short, to intermediate, to long term. If entrepreneur
can identify a trend, it can be highly profitable, because you will be able to trade
with the trend.

Types of Trends: -
 Wearable trend
 Green trend
 Payments
 Maker trend
 Mobile trend
 Health trends
 The Internet of things

1. Wearable trend: -
Wearable trend is that integrates wearable things to the daily activities and
fits into the changing lifestyles. It can be worn on any part of the body, but it is
usually used as an accessory. 
It can be

 suitable to be worn
  wearable art
 a wearable fitness tracker
 These were clothes that were fun to look at, and even more fun to
wear.

Example: -
GPS technology
Navigation is another sector where there will be significant developments in
the year ahead. A combination of wearables and real-time tracking can detect
locations efficiently. Advanced wearable devices and smartphones today come with
gyroscopes, compasses, accelerometers and motion trackers. With all this collected
data, smartwatches and apps can determine cadence, speed, distance travelled and
total calories burnt.
Accelerometers, compasses and gyroscopes can combine to build a joint
motion sensor. Apple has already added motion-tracking coprocessors to its
smartphone series. 2018 may be a crucial year for the revolutionary use of GPS
technology.

2. Green Trends: -
The Green sector is filled with opportunities for entrepreneurs around the
world. Today consumers are willing to pay more for green products. The green
sector continues to provide a wealth of inspiration for entrepreneurs around the
world.
One aspect of green trend is water that provides opportunities in the area of:

 Irrigation
Such as reclamation of parks and golf courses
 Smart irrigation system
 Consulting firms that increase water efficiency.
 Recycling

Example: -
Oil and natural gas get more expensive
The price of oil has plunged to around $40 a barrel because of decreased
demand during the economic crisis, but the long-term trend toward higher oil prices
still holds. The price will go up again as the economy improves and consumption
goes back up. As oil prices continue to rise, alternatives such as electric vehicles
become more cost competitive. We will switch from oil before we run out because
oil will be the expensive option, as well as the polluting one.
 Taking advantage of this trend
The more expensive oil gets, the more fuel efficiency becomes a vogue. Small
cars will rule the roads when the economy recovers and oil prices rise again. Electric
cars will do better when they start to market gas as more expensive. We will start to
see the fuel conservation trends of the summer of 2008 with gas at $4.50 a gallon
again. There will also be a big increase in car sharing and ridesharing, and higher
interest in alternative fuels.

3. Payments: -
Money and the way we manage and exchange it continues to be an industry
undergoing a massive transformation. This industry includes services for lending
money (LendingTree.com) to products that allow anyone to accept credit cards
(Square), as well as billing and accounting services.
The popularity of new forms of currency designed to reduce fraud such as
Bitcoin and the entire ecosystem around financial fraud detection and mitigation will
also be interesting to monitor over the next several years.

Example: -
Biometric authentication
Biometric authentication is a trend that you’ll see quickly emerging in the
year 2020. Biometric authentication is a verification method which involves
biological and structural characteristics of a person. These verification methods
include fingerprinting scanners, facial recognition, iris recognition, heartbeat
analysis, and vein mapping.
With the rise in the problems of identity theft and fraud, biometric
authentication can become a reliable and secure option for all the digital payments
that takes place in the year 2020. Even the stats suggest the same thing. According
to the industry data, by the year 2021 there will be more than 18 billion biometric
transactions taking place every year.
Biometric authentication is a unique and important payment method as it
incorporates and provides accuracy, efficiency, and security under a single package.
Biometric authentication is a highly-secured method since it involves an individual’s
unique characteristics.
4. Maker trend
The maker movement differs from other forms of entrepreneurship in its use
of engineering heuristics and focus on collaborative interactions around specific
technological tools and practices fostering innovative outcomes
The maker movement is an umbrella term commonly used to capture a
variety of formal and informal activities, firms and actors, including do-it-yourself
(DIY) hobbyists, artists, students and educators, self-employed small business
owners, prototyping entrepreneurs, technology inventors and disruptors, corporate
innovators, and a new breed of manufacturers.
As a movement, it has benefitted from technologically driven
transformations that have facilitated small-scale but high-quality production and
have thus steadily eroded barriers to production, increasing the potential for
innovation and entrepreneurship.

Example: -
Meet the new consumer demand for customization
Customers today increasingly demand solutions that are customized just for
them. Hobbyists and craftsmen have made custom solutions for a very long time, but
companies have resisted this requirement to keep costs down. Maker tools are
changing these economies of scale.

Accelerate the trend to higher purpose start-ups

The new do-it-yourself capabilities and low entry costs mean that you don’t
have to be Bill Gates to offer solutions that have an impact on society. The Maker
Movement is already poised to transform learning in our schools, and offer low-cost
solutions to solve environmental and third-world problems.

5. Mobile trend
The mobile phone continues to revolutionize the way we consume content,
make purchases, and interact with each other. Consumers are increasingly short on
time so activities once confined to a desktop are now being done on the go with
their tablet or phone.
You probably own a portable device, such as a smartphone or a tablet – or
perhaps both. Just like billions of people around the world, you use your mobile
device every day, looking at products and services online.
This represents a great opportunity for your business to generate new sales. It also
offers easier ways of managing your day-to-day operations. The value of venture
 capital deals for those companies defined as being in the mobile industry exceeded
$7.8 billion in 2014, according to data from CBInsights.

Example: -
Artificial intelligence (AI)
Artificial intelligence has penetrated our mobile world. While that day has yet to
come, we are seeing advancements in mobile AI. You may be familiar with some of
these:

 Alexa
 Siri
 Cortana
 Google Assistant
All of these are examples of AI that may even be installed on your mobile devices
right now. In addition to these popular forms of AI, mobile apps are now using
software such as voice recognition to encourage hands-free use and
ultimately optimize the customer experience.
AI software is used to help developers and marketers learn more about the user.
Businesses are trying to get more revenue by using this information to create
relevant advertisements that target specific audiences.

6. Health trends
Health maintenance and concerns about health-care provisions together are
one of the biggest trends today that will continue in the next decade as the world
population ages.
This provides many opportunities for entrepreneurs, including:

 cosmetic procedure,
 mind expansion such as the “brain gym” of Vibrant Brains
 personal health portals
 point-of-care testing facilities
 fitness centres
 fitness toys such as the latest Fit Flops and Wii Fit peripherals
 fit food, convenient care clinics, and wellness coaches.

Example: -
Sleep tracking
Sleep tracking and optimization will be another booming market as more and
more people are becoming insomniacs due to stressful lifestyles and habits. It is
 imperative to sleep for good 7-8 hours every day, and we should ensure that we get
it every single day.
Interestingly, the points mentioned above are not unbeknown to health-
conscious folks. The new year and beyond is going to be the start of us realizing that
our bodies cannot, and should not be allowed to take toll of daily stresses of our
lives. The future is not only about treating our planet better, but also about how we
are going to focus more on treating our internal bodies much better to prolong our
thriving existence.

7. The Internet of things

The Internet of Things (IoT) is actively shaping both the industrial and
consumer worlds. Smart tech finds its way to every business and consumer domain
there is—from retail to healthcare, from finances to logistics—and a missed
opportunity strategically employed by a competitor can easily qualify as a long-term
failure for companies who don’t innovate.
By 2020, the Internet of Things (IoT) is predicted to generate an additional
$344B in revenues, as well as to drive $177B in cost reductions. IoT and smart
devices are already increasing the performance metrics of major US-based factories.
They are in the hands of employees, covering routine management issues and
boosting their productivity by 40-60%.

Example: -
VUI: VOICE USER INTERFACE WILL BE A REALITY 
It’s a battle among industry leaders who would like to dominate the market
of IoT at an early stage. Digital assistant devices, including HomePod, Alexa, Siri, and
Google Assistant, are the future hubs for the next phase of smart devices, and
companies are trying to establish “their hubs” with consumers, to make it easier for
them to keep adding devices with less struggle and no frustrations [1]. 
Voice represents 80% of our daily communications, taking a chapter from Sci-
Fi movies, talking to robots is the common way of communications, R2D2, C-3PO,
and Jarvis to name a few. The use of voice in setting up the devices, change that
setups, giving commands and receiving results will be the norm not only in smart
houses, factories but in between like cars, wearables for example.