Technology change is a growth in the productivity of a process or a product that results in an increase in output, without any increases in input.
Technology has transformed the world since the Dot-com bubble burst in 2000. For example, introducing smartphones and telecommunications have changed the world. Furthermore, technology has altered climate action, media, and healthcare worldwide.
Here are some stats on technology change around the world
- 127 new devices connect to the internet every second
- 4.66 billion people were using the internet in Q1 of 2021
- Computers double their processing capacity every 18 months
- Experts estimate there will be 50 billion smart devices sharing data by 2030
- There were 4.88 billion phone users worldwide in 2021
- There will be 75 billion connected devices worldwide by 2025
As a result, businesses are now becoming more dependent on technology to operate. The COVID-19 pandemic heightened that, with companies using video technology to communicate virtually. New surveys have found that the COVID-19 pandemic grew the adoption of digital technologies by several years.
Technology change has also increased the opportunity to reskill employees. Reskilling is the process of teaching workers new skills or learning new skills. The impact of COVID-19 has meant companies needed to reskill their employees.
The World Economic Forum suggests that by 2022, 54% of employees will require significant reskilling. In addition, four out of five CEOs suggested their employee’s lack of essential skills is a threat to their business’s growth. Companies need to train their staff to work with new technology as time goes on.
Whichever way you look at it, the shift in global technology impacts the economy in profound ways. As a result, the job market is changing, and companies need excellent sales staff to sell their new technology products.
Here are some tech industries experiencing vast growth and why you should pursue a career in these industries.
1 – Education Technology
Education is something humans will always need, but the industry is transforming. The educational technology industry has an estimated market worth of almost $100 billion. The pandemic’s closure of schools and universities has increased the demand for education technology. Moreover, experts predict the educational technology industry will grow to $285.2 billion by 2027. The educational technology sector grew 72% in the U.K. during 2020, despite an 11% dip in the U.K.’s overall GDP.
According to Lisa Snell, the director of Stand Together, the growth of the educational technology market is because of the cultural shift in education. She states there’s a growing skepticism towards the rigidity of the American education system.
However, education technology is offering something new. Companies such as Skillshare, Course Hero, Masterclass, and Varsity have seen huge growth. Furthermore, experts believe educational technology will grow alongside artificial intelligence, virtual reality, and IoT. So, it’s safe to say that educational technology is part of the future.
If you work in the sales area of educational technology, you’ll be at the forefront of human learning for decades to come. Companies such as Course Hero, Unacademy, Duolingo, ApplyBoard, and Boxlight Corporation are spearheading the growth of educational technology.
Technology change has the ability to improve learning worldwide. Nonetheless, these products need skilled salespeople to bring them to market. That’s where highly-trained sales staff can change the world.
2 – City Planning
As the global economy grows, cities need to build infrastructure and buildings. Technology change has hugely influenced the way urban planners design and build cities. But that’s not necessarily a new thing.
In fact, the Roman Empire was magicians in using state-of-the-art technology to build their cities. However, the modern-day use of technology is critical for urban planners. For example, the development of 5G technology and smart roads is important to urban planners.
The European Commission believes that drones will account for 20,000 flights in Paris every single year by 2035. In addition, there has been a sharp increase in technological solutions, such as APIs, to create smart cities around the world. Furthermore, cities are now implementing smart grids and using heat pumps to cope with the increasing demand for technology. Amsterdam’s urban planners have a target of cutting off all-natural gas usage by 2030.
Therefore, if you work in technology sales in the city planning sector, you can truly shape the world’s future. You’ll be at the forefront of battling pollution and city congestion. You’ll also improve the daily lives of people all across America and the world. For example, 72% of Europeans live in cities today, but 80% will live in cities by 2050.
As cities grow around the world, you’ll be at the forefront of creating a better world.
3 – The Energy Sector
The energy sector is growing in the United States every year. Research suggests that the U.S. electronic power sector will create 2.1% more power in 2021 than in 2020. Concerns about climate change have encouraged people to consider their energy sources. People are leaning towards using sustainable options to help the environment. Many companies – including massive big tech companies – are heading towards a 100% renewable focus.
In 2019, Google bought enough renewable energy to match 100% of its global electricity consumption in a single year. However, it’s not just huge tech giants that are leaping renewable energy. For example, the Climate Group collaborates with 242 companies to create an eco-shift in the world. These companies include Ikea, Johnson & Johnson, and Starbucks. So, which technologies have genuinely changed the energy sector?
The growth of IoT, Big Data, Blockchain, and Digital Twin Technology has influenced the energy sector. That has led to the term “Energy 4.0”, a term used to describe the fourth industrial revolution.
Experts believe automation and data-influenced approaches are transforming the energy sector. If you work in energy sector sales, you can be at the forefront of the world’s fight for a more sustainable future.
4 – Medical Technology
Healthcare has always been at the forefront of technology change. That hasn’t changed in 2021, as MedTech grows hugely around the world. For example, the COVID-19 pandemic had a tremendous impact on MedTech worldwide. Research suggests 95% of physicians have used virtual technology to communicate with patients. COVID-19 has also encouraged increased robots in the hospital environment because of unprecedented demand on healthcare systems.
Software companies have also had to work alongside companies and the healthcare industry to build vaccine passports to open the world after the pandemic.
Furthermore, software as a medical device is increasing worldwide. The IMDRF defines SmAD as the software used for one or more medical purposes without being part of any hardware medical devices. For example, software as a medical device technology allows patients suffering from chronic illnesses to share data with health professionals. In addition, IoT has grown in the healthcare industry. As a result, the healthcare industry uses internet-based devices to transfer data via wireless networks.
Cybersecurity is one of the biggest problems for healthcare companies. There are various medical devices integrated with clinical cloud applications. Effective cybersecurity has become an essential part of medical technology.
Medical technology is a vast industry, and there are so many ways you can impact the med-tech space through sales. For example, you can sell cybersecurity products and healthcare robotics. You can also sell software to medical companies to improve the health and wellbeing of millions of people.
5 – Food Technology
As the famous saying goes, “we are what we eat.” Food technology change is changing the way we eat and the foods that we consume. The rise of robotics is a fantastic example of the growth of food technology. There are over 30,000 robots in the European food industry. The largest European market for robots is Germany, followed by Denmark, Italy, Sweden, and the Netherlands. Germany has 62 robots per 10,000 employees in the food industry.
There is also a growing demand for eco-friendly products. For example, 18% of consumers want eco-friendly products. Consumers want products with zero waste, and the food industry wants packaging with no waste or nanoparticles. Furthermore, drones are becoming an essential part of food technology.
The agriculture industry is using drones to observe their crops from above. That allows farmers to see their soil quality and worker productivity.
Sensors are also a fantastic way to gauge productivity and efficiency in the workplace. For example, many food & beverage factories are using sensors to monitor temperatures. Companies can place smart sensors in refrigerators and vehicles to get critical information.
As the demand for sustainable products and increased food safety continues, the number of sales jobs will grow. If you work in food technology sales, you’ll be at the forefront of increasing diet, health, and sustainability in the future.
Learn more about technological change
The world is changing, and technology change is at the forefront of the change. There are thousands of products and services in the technology industry that innovate and change the world forever.
You can be at the forefront of this change when you help bring these products to the market.
Uvaro has a 12-week sales course that gives salespeople the soft skills required to deliver incredible results. We have many graduates in various technology sectors. And our specialist career advisers can advise you about breaking into tech sales for these sectors.
Feel free to contact us to find out more.