2015 was a landmark year for the tech industry, setting the stage for even greater innovation in 2016. This article revisits the key technology trends that shaped 2016, from the continued dominance of streaming services to the rise of virtual reality.
Key Tech Trends of 2016
Here are some of the top trends that defined the technology landscape in 2016:
Streaming Services Take Over: Streaming services solidified their position as a dominant force in entertainment, challenging traditional cable and satellite TV.
Wearable Technology Evolves: The Apple Watch and other wearables continued to develop, paving the way for more sophisticated and affordable devices.
Virtual Reality Goes Mainstream: Virtual reality technology became more accessible, with major players like Sony and Oculus releasing VR gaming headsets.
Fintech and Digital Payments Expand: Digital payment options gained widespread adoption, transforming how people buy products and manage finances.
1. Streaming Services Continue to Dominate
Streaming services like Hulu, Netflix, and Amazon Instant Video offered a compelling alternative to expensive cable and satellite TV. By providing on-demand access to a vast library of content, these platforms addressed a key consumer pain point and disrupted the traditional television model. This trend saw streaming services grow even stronger in 2016.
2. The Apple Watch and the Rise of Wearables
While the initial Apple Watch had limitations, 2016 was expected to be a pivotal year for Apple to refine its wearable technology. This improvement was anticipated to spur further innovation and competition in the wearables market, leading to more diverse and affordable options for consumers.
3. Virtual Reality Becomes a Viable Product
2016 saw significant advancements in virtual reality, with companies like Sony and Oculus releasing highly anticipated gaming headsets. This marked a turning point for VR, transforming it from a niche technology into a mainstream entertainment medium. The growth of VR also had the potential to revitalize major gaming franchises.
4. Fintech and Digital Payment Options Continue to Boom
The expansion of digital payment options continued in 2016, offering increased convenience for online and mobile transactions. This trend challenged financial institutions to adopt more modern, digital approaches to their services, impacting banking, tax preparation, business planning, and related industries.
Looking Back at 2016 Tech Trends
2016 proved to be a year of significant technological advancement, building upon the foundation laid in 2015. These trends expanded the possibilities for consumers and businesses alike. Finally, sustainability will never not trend. Furthermore, we expect a significant societal and economic shift towards building and implementing circular processes across industries. And do you know what the easiest way to practice sustainable living is to minimize e-waste? Selling old electronics! Stay on trend, friends!
