#MACRO TREND FULL#

Can be diversified by sectors and regions. We provide insights on how companies can prepare for the coming changes and thrive in the new global economy. They are beneficial because they are: Unbiased and data-driven. Macro Trends Demographics, automation and inequality could dramatically reshape our world in the 2020s and beyond. While a business alone may not be able to alter macro-environmental forces, understanding and responding effectively to these large-scale directional shifts will help businesses survive and even thrive, despite the challenging nature of the macro trend. Macro trends are a key tool for discovering long-term market opportunities. Some examples are the rise of ethical business models, the trend towards ethical consumption and the growing consumer preference for renewable energy sources. These climate-related challenges are also accompanied by emerging macro trends that create opportunities. While many forces are at work, pushing and pulling the horizons outline in at times conflicting directions, the 12 macro-trends we chart were chosen for. Other related trends might operate within a business sector, such as raw materials scarcity or interruption of delivery schedules due to severe weather events. Some operate regionally, such as the increased risk of flooding in coastal areas, or forest fires in mountainous regions. Within the umbrella of climate change, there are macro trends that operate on a smaller scale. For example, climate change is an ecological force, with worldwide implications that will undoubtedly last for decades, if not centuries. The DESTEP model describes these forces as Demographic, Economic, Political, Ecological, Socio-Cultural and Technological. The Macro EnvironmentĮvery business lives within an environment of forces beyond its control. This mega trend, in turn, produces such macro trends as crowd action, net culture and social software. Facebook, along with other social media platforms that have since developed, now propels the mega trend of global connectedness. Over time, the adoption of Facebook by a growing user base moved it to the level of a macro trend. With this small beginning, it may have been considered a fad, or at best a micro trend. For example, when Facebook originated in 2004, it was shared among a small group of students in the Cambridge, Massachusetts area. Using such innovative strategies, companies will be able to overcome challenges and secure the talent they need.A phenomenon can arise at one level of the hierarchy and expand or contract to encompass other levels.

This tech talent shortage in the electronics manufacturing sector further highlights companies’ challenges in finding and attracting qualified professionals.ĭomestic labor challenges will require a multifaceted approach, such as upskilling the current workforce to bridge skills gaps, collaborating with technical schools to cultivate future talent, embracing automation, and fostering a diverse workforce to draw from a wider pool of skilled candidates. China, too, faces an ongoing labor shortage as its workforce ages. Official estimates suggest that across industries in the US, there will be a shortfall of 300,000 engineers and 90,000 skilled technicians by 2030. However, the demand for specialized expertise is intensifying, driven by the rapid evolution of technology. The recruitment landscape has experienced improvement, with more companies reporting success in attracting skilled talent. The industry’s labor market presents a complex picture. While growth within the industry is still expected, electronics manufacturing expansion may be confined to specific regions or sectors rather than being experienced universally. Global growth is predicted to decelerate to below three percent over the next five years. However, this anticipated expansion in the global market should be approached cautiously, given the pessimistic global economic forecast recently released by the International Monetary Fund. Macro trends are directional shifts that involve large populations and last five to 10 years or more.

#MACRO TREND FULL#

Consequently, the EMS market, valued globally at $504 billion in 2022, is expected to reach $797.94 billion by 2029, with a compound annual growth rate (CAGR) of 6.8 percent. To know all the Macro-Trends that will have an impact in the future see our full Trend Forecast 2020. The enduring demand for electronic products and the rapid adoption of digitalization across various sectors drive the industry’s growth. Moreover, the upward trajectory continued through October 2022, with a 14.9 percent YoY increase. North American EMS shipments, for instance, grew by 9.4 percent YoY in May 2022, showcasing an impressive book-to-bill ratio of 1.35 (a ratio greater than 1.00 indicates that current demand exceeds supply). The electronics manufacturing industry has showcased remarkable resilience in the face of economic uncertainties.