Despite the world being fuelled by the fourth industrial revolution (4IR) Industry 4.0 for the project economy and Titanium economy transition. We continue to see a lot of new startups fail due to missing all the opportunities that are missed to capture along the accelerated change.
From capturing the next waves of big things, from being a pioneer is not enough, you need to be faster than others to act, before more me-too products are rolled into the market. Nokia from 55% of the market share in less than 5% shrink into less than 5% in the market during the world transition toward smartphones, it is one of the classic examples everyone should be aware of. Every big player underestimates the next way of big things that is really capable of completely wiping out the existing market, and creating a new market based on a completely different set of competition products category and standard. Apple at that time, seized the opportunity and wiping out the existing market and based on their better product to fit the market needs and wants. It did one more time ago with the ipad for position as a new market segment and space within smartphone and computer notebook. The same waves is happening in the industry, such as the traditional watches market by introducing the smart watches, providing health sensors and once again, wideout those traditional smartwatches that simply can not be caught by the value it offers. This is the power of the next wave of big things. It offers for those who have a clear vision for it before the rest of market players do.
Samsung is a traditional cellphone player, unlike Nokia, under the challenge of smartphones, it chose to adapt and replace their existing cell phone operating system with the android operating system. Just like all the China manufacturers who adopt it, the current market share for the android operating system installed and used on all the smartphones in the market is roughly 71%, and iOS by Apple is around 28% in 2022. When Apple iOS is expected to continue to shrink as more smartphones, all kinds of innovation continue to be released by various smartphone producers. From the first smartphone to use the digital pencil, to the first smartphone that can be flipped and folded. From that alone, Apple has been bypassed by Android based smartphone producers, a few generations of the smartphone technology.
Same next waves of big things is happen in the other sectors and industries, from the artificial intelligence (AI) and robotics, to smart factory, smart car that self drive and now can be fly on the sky, to restaurant backed robotics operation to provide precise same tasteful foods for mass consumption.
Do a quick check and review for each country’s top 10 largest corporations, what do you can observe and learn from it? Are they made up of the majority by the property company? Are they made by the majority of the bank? Majority by the traditional fuel based car producer? It will quickly provide you an understanding for the next five and ten years, how they can be?
The world is from seller market and transited to buyer market for a very long period of time. Market innovation and copy it, take less and less time than before, and the speed will go even faster. No one can have time you expect to enjoy unfair competitive advantage for long. If you are not able to seize that window of opportunities, slow to market or inertia for the change that needed, you are expected to be in extinction for soon. Do not get me wrong, simply acquired or take over legacy player in the market, does not make you a better player, since the new next wave of big things, continue to destroy existing legacy market, and the world is migrate over to new generation of products, where old generations is simply can not be catch in term of features and value.
The world in 2023 and beyond, we expect to keep see the next waves of big things continue to shape the world, despite for the current market and the global recession alarm due to hyperinflation and energy crisis that create from the Europe Ukraine-Russia conflict.
E-SPIN Group in the enterprise ICT solution supply, consultancy, project management, training and maintenance for corporation and government agencies did business across the region and via the channel. Feel free to contact E-SPIN for your project requirement and inquiry.
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