Deloitte’s Innovation Predictions: Print Is Not Dead & Television Will Live On
In 2015 Deloitte predicts innovation to swing from consumer to company; the contactless mobile payments tipping point; and print to be alive and well.
Deloitte predicts the smartphone upgrade market to exceed one billion for the very first time in 2015, the in-store smartphone purchases worldwide to increase by more than 1,000 percent and three billion wireless Internet of Things devices to be shipped, with 95% of them paid for and used by enterprises.
While the mobile wallet won’t replace the traditional wallet yet, according to Deloitte’s 14th annual Technology, Media & Telecommunications (TMT) Predictions, 2015 will be a tipping point towards wider consumer adoption of in-store smartphone payments.
“Smartphones are already being used to check balances, transfer funds and transact online, although they have not yet reached ‘mobile wallet’ status globally,” said Stuart Johnston, Deloitte Australia TMT industry leader. However we believe 2015 will be the inflection year.
“This is the first year that all mainstream mobile requirements will be addressed, including user friendly security, making smartphone payment options much easier. Since 2009 mobile payments have been poised to take off, waiting for the multiple prerequisites to satisfy financial institutions, merchants, consumers and device vendors,” Johnston said.
“In Australia, the UK, Canada, and Asia Pac – and in particular early adopters Japan – Tap and Pay is becoming universally accepted. We expect this to encourage our ‘always on’ Australian consumers to move easily to mobile payment, particularly given Australians take-up of mobile banking is ahead of the US, UK and Germany.
“Our report predicts that some five percent of the 600 million NFC-enabled smartphones in the world, (30 million), will be used to make an in-store payment at least once a month,” Johnston said.
Smartphone upgrades continue
Also, counter to previous industry predictions that the smartphone market will plateau, Deloitte predicts a further one billion upgrades globally in 2015, signalling that the market has not yet matured or stagnated. Over one billion of the 1.35 billion smartphones predicted to sell worldwide in 2015, will be upgrades – new phones for those who already have one. The upgrade cycle may be lengthening, but battery capacity and age, screen size, speed, storage, software and design will continue to drive growth for smartphone refreshes.
“As in our inaugural Deloitte Australian survey of 2,000 mobile consumers where Australia was rated as the sixth most concentrated smartphone market in the world, battery life is the most important factor Australians will look for in their next smartphone purchase, followed by price,” Johnston said.
Short form video: a future, but not the future, of television
Australia’s national media lead partner Clare Harding says that the total time spent watching online short-form videos will represent less than three percent of all video seen in the year globally. Deloitte does not expect short-form online content to usurp long-form traditional television. It is a future, but not the future, of screen-based entertainment. “While there are some eye-watering statistics on the popularity of YouTube stars, with views in the billions, we believe that short form’s success should be respected but kept in context. We think it is unlikely ever to be the predominant video format, as measured by hours watched or revenues, both globally and in Australia” said Harding.
Print is not dead, at least for print books
One of the more surprising predictions of the 2015 Deloitte TMT report says Harding is that print books globally will continue to dominate the publishing industry, accounting for 80 percent of all book sales by dollars and units. In 2015 Deloitte predicts that sales from print books will be five times the sales of eBooks. In fact print will represent more than 80 per cent of book sales worldwide.
“eBooks have not substituted print books in the same way that sales of CDs, print newspapers and magazines have declined particularly for the younger cohort (aged 18-34), and specifically for young women. Apparently it is the ‘smell of books’, liking to collect them, and wanting ‘full bookshelves’ that is driving the appetite for printed books. It would seem that Millennials are as attached to print books as their elders and read at about the same rate. And they are willing to pay for them!” Harding said.
Millennials are also willing to pay for Pay TV, music, computer games, live sports, streaming videos, books and even print newspapers. “The ‘generation that won’t pay’ is spending on TMT and are being led by North American Millennials,” said Harding. “They will spend an average of US$750 per person in 2015 for content, both digital and traditional.”
Consumers don’t always lead the way: the pendulum swings back to enterprise innovation
TMT Risk Services Partner Dennis Moth pointed out that last year’s shifts from a decade-long trend of consumerisation of Information Technology (IT), with for example a modest consumer uptake of wearable technology like smart glasses, has set the trend for 2015.
“Although the noise is loudest around consumer use, we believe that in 2015 it is the enterprise that will drive adoption, drive spend and importantly reap value. We expect the pendulum of technology adoption to swing back to the enterprise with company led adoption of wearables, 3D printing, drones and the Internet of Things (IoT) meeting more needs and generating higher sales for business than consumers.”
The Internet of things really is things, not people
Deloitte predicts that in 2015, more than 60 percent of the one billion global wireless IoT devices will be bought, paid for and used by enterprises, with the IoT-specific hardware predicted to be worth $10 billion, and enterprise services enabled by the devices, about $70 billion. “Although the focus may well be on consumer take-up – think Bluetooth enabled roller-doors, white goods etc. – the real value will be in the savings made by industry and business, with smart factories, smart homes, eHealth and telematics,” Moth said.
Drones: high-profile and niche
Moth said: “In Australia for instance the takeup of drones will have multiple industrial, organisational and civil government applications. While we’ve initially seen drones used in the broadcasting of sport and events (e.g. Fox Copter and Telstra’s coverage of the Sydney NYE fireworks), in 2015 we’ll see further and multiple uses with Surf Life Saving Australia already using unmanned aerial drones to patrol some of Queensland beaches and the University of Wollongong awarding two of its PhD students an innovation award for their work on a lifesaving drone.”
Please login with linkedin to comment
ABC Dr Google JCDecaux NewsLifeMedia Programmatic Advertising Prostate Cancer Foundation of Australia vodafone warriorsLatest News
The Unapproved Climate Certification Allegedly Causing Mass Greenwashing
Are you left flummoxed in the canned tuna & free range eggs aisle? Just wait till this green certification gets up.
TV Ratings (22/04/2024): Fans Mock “Over The Top” Reaction To New MasterChef Judges
MasterChef returns for its 2024 season. B&T stands by putting peppercorns in Gravox & no one will be any the wiser.
Dentsu Restructure: Muddle, Harvey & Johnston Take Leadership Baton As Bass & Yurisich Exit
A large broom has swept through Dentsu's local ops this morning, taking with it some big names & the air con's cobwebs.
Industry Shares Trends Shaping The Industry This International Creators Day
B&T's asking adland creators to reveal their top trends. And it's not good news for your Jenny Kee cardigan collection.
Mable Extends HOYTS Sensory Screenings Partnership
Mable has extended its HOYTS sensory screening partnership. Vigorously defends its two-star Oppenheimer review.
Orphan Launches ‘They Need Our Help. We Need Yours’ For Children’s Cancer Institute
Anything to do with childhood cancers has B&T's 110% support. That said, we do ignore the red meat & alcohol warnings.
Smile Team Orthodontics & Keep Left Collaborate On Smile-Inducing Campaign
As parents would attest, given the cost of orthodontics you'd expect this campaign to be a lavish production indeed.
Opinion: How Video Calls Neglect Learning Diversity
Need an excuse to duck out of a video call this arvo? Show this to your boss.
DoubleVerify Achieves First-Of-Its-Kind Responsible AI Certification From TrustArc
DoubleVerify receives responsible AI certification. However, not its robotic vacuum that's been seen menacing the cat.
Smile For A Good Cause: The Social Media Campaign Giving Back To The Community
Are you known as the office Austin Powers? More for you teeth than shagability? Get snappy new fangs with this news.
Elon Musk Mocks Albo After ESafety Wins Court Injunction Against X
Albo's 2024 from hell continues - Rabbitohs in crisis, down in the polls and now feuding with world's richest man.
Real Estate Developer In Hot Water Over “Sexually Exploitative” OOH Campaign
Real estate agents again tops in the 'least trusted profession' polls, nudging used car salesmen & ad creatives.
Epsilon’s Shane Hanby: Post-Cookie Era Relies On “Teamwork” Between Brands, Marketers & Tech
This pro predicts more "teamwork" in a post-cookie era. Which spells bad news for the uncooperative or plain stubborn.
Entries For Five Decades Of Advertising Graduates Awards Close On Monday
Entries for the Five Decades of Advertising awards close Monday. And no extensions! Any bribery is open til Wednesday.
Cadbury Extends Commitment To Women’s Sport With Sweet New Wallaroos Deal
Rot your teeth, get fat and support women's sport all at the same time with this sweet new sponsorship arrangement.
Campfire X & Nando’s Partner To Acknowledge Traditional Land Owners Across Australia
Chicken chain unveils important First Nations initiative. The actual chickens more concerned with the Adani coal mine.
Lisa Ronson, Naysla Edwards & Ben Hill Join MFA Awards Signature Judging Panel
MFA Awards adds some serious clout to its judging panel. Still no confirmation Paulini will be performing on the night.
Connect Hearing ‘Sounds Good’ Platform Via Bread Agency
Every office has that one hard of hearing person that's oblivious to the fact. Ramp up their insecurities with this.
Ipsos Iris Data: Australians Prioritise Entertainment & Sports Over Serious News In March
Data shows Aussies prioritising light entertainment over hard news. And who can blame them if you've seen the hard news!
Fur Media Partners With Mad Paws To Support Advertisers
It's never good if your office smells like faeces & brine chunks in aspic. Not if you're pet-friendly agency Fur Media.
MAXIBON Drops Epic Flavour Collaboration Via SICKDOGWOLFMAN
There are few pluses to be had with global warming, except the extension of ice-cream eating season.
Sling & Stone Scrubs Up With Lush Account
Got friends at Sling & Stone? Expect the dreaded loofah and bath bomb for birthdays/Christmas this year.
SBS’s The Cook Up With Adam Liaw Produces ‘Fewer CO2 Emissions Than Industry Average’
SBS could go full vegan for Adam Liaw's seventh season and reduce its TV audience and emissions by 99 per cent.
GumGum & Playground xyz To Merge Media Portfolio, Creating “Powerhouse” Ad Suite
GumGum & Playground xyz tap into consumer mindset. B&T prefers tapping a keg, but whatever works.
All The Winners & Grinners From The TikTok Young Lions Awards Night!
Last week saw every part of the human experience: Exalted, devastated, exhausted & stuffing sausage rolls in the corner.
TV Ratings (21/4/24): Farmer Wants A Wife Wins Sunday Prime Time
Farmer Wants A Wife does make the country life seductive. Apart from the manure stench & the bleating roosters at 5am.
Australia’s Automotive Industry Shifts Gears With CTV
How much was CTV responsible for Australia's record car sales in 2023? Or those horrible oversized American utes?
Australia’s C7EVEN Communications Launches Services In Japan With New Tokyo Office
Aussie comms agency unveils its Tokyo plans. Confirms it's still getting the hang of the toilets over there.
Daniel Goldstein Promoted To Head Of PR At Example
Try as he may to surreptitiously blend in with the wall in his photo, this PR fellow still relatively easy to spot.
Marie Claire & Volvo Partner For The Planet: Nominees For The Inaugural Marie Claire Sustainability Awards Announced
Fashion bible Marie Claire unveils its Sustainability Awards. Yet still refusing to recycle 2023's maxi skirts trend.
Sefiani Unveils A Wave Of Promotions & Appointments
Life's good in PR/comms as Sefiani unveils new hires. Well, bad news for media sites obsessed with redundancy stories.
Yahoo Launches Identity Solutions For CTV
Connected TV just got a whole lot more exciting with this innovation. Bar the incessant Friends re-runs.
Infosum Launches Data Clean Room Solution With Samsung Ads Australia
Infosum & Samsung Ads launch a data clean room solution that's a lot more than a Wettex & squirt of Ajax.
Fast 10: Bread Agency’s Amaury Treguer On Its “Unrivalled” Social Commerce Focus
Bread Agency's Amaury Treguer takes B&T's Fast 10, as he reveals why he won't be sandwiched up against the opposition.
X And Elon Musk To Sue Australia’s eSafety Commissioner Over Sydney Stabbing Takedown Order
If this all wasn't traumatic enough, Elon weighs in to prove he's the world's richest man & world's biggest dickhead.
CRA Siren Award To Be Presented At B&T Awards 2024!
Often attend award nights & think "I wish this night would never end"? Well, B&T's just got that tiny bit longer.