It’s no mystery that technology has changed everything. How we communicate, how we shop, and even how we travel, tech has disrupted it all. Check out this list of 10 industries being disrupted by tech.
1. Travel
The travel industry saw its first major disruption as soon as online hotel booking became available. The internet put many travel agents out of business and it is now looking to conquer the biggest fish in the travel industry. Hotels.
Airbnb has taken the travel industry by storm and is already making a huge impact. Airbnb boasts an average of 500,000 stays per night and wants to see 1 million by this summer. Those are huge numbers that will begin to start taking a toll on the hotel industry. Despite initial skepticism, Airbnb hasn’t slowed down for a second, which makes me believe that this disruption is here to stay.
2. Taxi
Perhaps the most famous tech disruptor on the list is Uber. When Uber was introduced it caused a lot of uproar among the taxi industry. Despite the initial backlash, Uber is still around and still growing. Other companies such as Lyft have also joined in to disrupt the taxi industry.
We are still waiting to see whether or not Uber’s business model is going to survive. Regardless, it’s safe to assume the taxi industry will never be the same. People love the service Uber provides and the demand will remain. Even if Uber doesn’t.
3. TV
The television industry is being disrupted by many different companies at many different angles. The biggest disruptors being Netflix and Hulu. But with the entrance of Amazon, Apple, and the birth of smart TVs. The days of traditional television as a major medium may be coming to an end.
I emphasize traditional because television as a medium will remain around for many years to come. Just a tad bit different than the television we know today. As more people begin buying smart tvs and devices such as Roku and Apple TV, the medium will begin to change. Regardless, people will still be watching their favorite TV shows. Plus, many of the apps on those devices require a subscription to some sort of TV provider, which means they’re still making money.
It will be very interesting to see what happens in the TV industry. How much longer will it last in its current form? Will it ever fully die? This is something I’ll definitely be keeping an eye on.
4. Newspaper
The way we consume news has changed dramatically. I was in a room full of people in their mid 20s when the question, “how many people pick up a newspaper on a somewhat consistent basis?” was asked. The answer? 2. When asked the question, “how many people consume the news?” the entire room raised their hands. So it isn’t that the younger generation has stopped consuming the news, it’s that they don’t pick up newspapers.
This is a trend that is not going to be reversed. Tech has forever disrupted and probably ended the newspaper industry. The younger generations see no point in picking up a newspaper and probably never will. And with personalized news on the rise, tech is only tightening their grip on the news industry.
5. Manufacturing
The disruption of the manufacturing industry is still in its earliest stages. Many people foresee 3D printing has the main source of disruption. While I believe 3D printing will eventually cause major disruption I believe it will be a few years before anything major takes place. This is one to definitely keep an eye on.
6. Education
Tech is making education more affordable and more widely available. People all over the world are learning more because of tools such as edX, which is a database of free online courses taught by real college professors. But that’s not the only way the industry in being shaken up by tech.
Virtual and Augmented reality are also starting to make waves within education. The Microsoft Hololens has placed a focus on education in many of their promotional videos. I foresee the VR and AR industries having a huge impact on education and the way students are taught. This is one of my favorite industries that is being disrupted by tech.
7. Payments
For the past year, Google and Apple have been trying very hard to disrupt the payments industry with Google Pay and Apple Pay. They both have bet huge money on NFC and the mobile wallet, and it may be starting to pay off.
While mobile payments have not disrupted the payment industry as fast as expected, they are picking up steam. NFC world shows that 94% are likely to save personalized mobile wallet offers and coupons while 59% say their opinion of a retailer would become more positive if they started to receive coupons and offers that could be saved on their smartphones. The payment industry may not be fully disrupted yet, the mobile wallet industry has begun to grow, which means the mobile payment industry is likely to follow.
8. Music
The music industry hasn’t stopped getting disrupted by tech since Steve Jobs convinced them to join the digital music revolution. First it was iTunes, then Pandora, then Spotify, and now Apple Music has joined the ranks among the music industry disruptors. Even with Taylor Swift creating backlash the disruption hasn’t slowed. Apple Music has continued to grow alongside Spotify. It’s crazy to think that not many years ago musicians were up in arms about the iTunes store and now their industry has been disrupted once again. Tech has taken the music industry by storm and hasn’t showed any signs of slowing down.
9. Advertising
Ever since the mobile screen has become the main screen, the advertising industry has been getting disrupted. Smartphones have changed nearly every form of traditional advertising such as radio, TV, and newspaper and brought it into the mobile world.
With the rise of beacon technology, we will see advertising change once again and gain a larger focus on personalization and contextual awareness. While this technology may be in its adolescence, it has already begun making huge waves among marketers and consumers. I expect this form of advertising to take off within the next three years and once again disrupt the advertising industry.
10. Auto
The auto industry is about to become one of the most disrupted industries on this list thanks to autonomous cars. Google has already had its autonomous cars drive over a million miles and it is looking as if Apple is going to join the game within the next few years. This disruption may be 5 to 10 years out, but it’s coming. The US government is on board and private industries are investing in it. Even Uber is reported to have invested in autonomous cars. While this disruption may be more than a few years away, it could easily be the biggest.
What other industries do you think are being disrupted by tech? Let me know in the comments below.
