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Mar 04

The five biggest tech trends for millennials in 2016 | Articles | Home

You’ve read 10 lists of the top 10 tech trends this year. Many of these lists appealed to investors and CEOs; it’s also essential to consider what tech creatives are drumming up.

Millennials dominate digital, so it’s important to identify the trends that interest this audience. Here are five to watch in 2016:

News

Sixty-three percent of social media users rely on Twitter and Facebook for news , Pew Research reports. Social networks have already adapted to compete with independent news apps, such as Flipboard or Apple News.

Platforms like Facebook, Twitter, and Snapchat break news in real time and are beginning to shift how young consumers find trending stories.

Twitter Moments allows readers to see a feed of trending news and live events as they happen. If you’re logged in you can follow and share moments. Periscope is another Twitter acquisition that has helped audiences move to live events.

Facebook’s live coverage engine, Instant Articles. has 20 media companies publishing stories to the Facebook platform.

Snapchat’s news breaks straight from influencers but Snapchat Discover hosts a collection of 19 media channels that curate content for their Snapchat communities. It’s also worthy of note that Snapchat has been trying for live news coverage as well as news in its promoted stories.

I started Bando, a mobile news platform for the urban culture, because I found that social media was mostly used to discover news on a surface level. Bando delivers real-time news at the speed of a social network.

Major social platforms cover breaking news; media publishers can’t mimic the convenience.

Virtual Reality

Virtual reality is no longer our fascinating future, it’s happening now. In the past, stories about emerging VR products were only illustrated by concept images and speculation. Today, there are both developer and consumer models that have introduced products and software.

Since 2014, Google has offered an amateur VR viewer that uses your smartphone to create virtual environments. Premium VR headsets are opening avenues for software developers who want to expand beyond a product-focused industry.

Video Games

As new gaming consoles introduce more capabilities, video games have been quick to adapt.

SuperData Research suggests consumers will spend $5.1 billion on virtual-reality gaming this year—in both product and software. That’s a huge leap from the $660 million spent in 2015.

In an effort to maximize storage and create bigger games, many consoles are becoming cloud-based. Cloud-based games allow for boosted performance and new gaming effects.

Streaming Services

With the introduction of new technologies and platforms, quality content will still benefit. Battle has been joined between cord-cutting services and cable television.

Sling TV and Sony Vue earned their fair share of the market among cable streaming services. Sling TV–owned by DISH—offers an alternative to cable television.

In 2015, Sling TV was reportedly generating $5 million per month. Sling passed the 250,000-user milestone. Many online television providers are launching their own app to accommodate digital viewers who prefer watching TV online.

Products have ties in this race as well. The Apple TV 2, Roku, and Amazon Fire represent the hardware side of the streaming service market.

Even more big name players will partner with streaming services and the spending on digital ads will continue to compete with cable. As web TV services look to build revenue from subscriptions, content providers, and advertisements, they create a bigger market and wider reach for their partners and parent companies.

Fintech

Technology is making financial responsibility much easier and it’s giving banks a run for their money.

According to Goldman Sachs, financial startups expect to siphon $4.7 trillion worth of annual revenue from traditional financial services. Investors have recognized this trend as well; in 2014 they invested $12 billion in financial technology.

Fintech startups are capturing emerging markets and millennial audiences. Organizations like WePay, Affirm, and Betterment are simplifying services, and have addressed problems such as payment processing for online shopping, student debt and providing support for the 2.5 billion adults without access to a bank.

Source: The five biggest tech trends for millennials in 2016 | Articles | Home

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