The previous year saw a lot of challenges in market research. The year being as far enormous with trade wars and tariffs, also represented acquisition and merger. With the current recession going ahead, the big thing in the industry in terms of market research in tough.
Tensions with China’s trade is not likely to settle down soon. Additionally, there is the United Nation’s climate report which is propelling every factor on the environmental ground. These include mostly that of LED and electric vehicles.
The whole of 2019 is still under grasp but analysts point on having a profound vision of market research. There is a constant work scouring the data which can further put forward the clarity of the fastest growing industries globally. These industries will have an impact on the year’s future decisions.
Use of IoT.
The use of IoT has been pretty dominant for now. This is more prominent in adding new value to old products. Also, the network of automated devices which have been working from over a while now, have been turning the normal houses into pretty smart ones. Market research domains have even forecast the heavy annual growth happening with some of the most advent technology. This includes smart lightning, thermostat, and at times even security segments of home.
IoT has been catching most of the public domain and the result looks smart enough. The further result is that small startups can now get the best of industry-leading technologies and even improvement in customer satisfaction. Previously all of these were just normal technologies without any future advent.
Cannabis Products have future dominance.
Marijuana has not been accepted totally as it is in the west coast legalized event. The industry has far been thriving and accepting investment from many companies. These include heavyweight companies such as Scotts Miracles Gro. It consecutively spent on over a billion dollars for the growth of the business.
The thriving of the project has also attracted a widespread consumer interest in creating forms of marijuana such as medical marijuana. Consequently, it has led to a revolution in which many lawmakers are going ahead of regulations as cited by market research reports.
LEDs lead the way, shining bright!
Across the globe, there has been a transition of technologies mostly in the light market. Several consumers have been trading in incandescent bulbs which result in friendly LEDs, because of the fact of savings in energy dominance. Additionally, regulatory factors are also having a major role in the process. Further, phase two of 2007 Energy Dependence has been giving most of the Security Act to incandescent bulbs. These aren’t acceptable for sale starting from January 2020.
California has been implementing the EISA ban which started from January 2018. This ban did help in the rise of LED sales on a wide scale. Further, the Freedonia Group had a LED lamp valued at a demand growth of 12 percent in the coming years till 2022.