As we close on another decade, Creditplus looks at how technology, finance and mobility will change between 2020 and 2040, stopping en route to highlight milestone developments and objectives from across the world.
The last ten years have heralded in a new era of technology. At the start of the decade, the iPhone was only an infant and the iPad had just been released – reinventing the way people used phones and tablets for millions of people. In February 2010, Facebook celebrated having 400 million users on their platform, today they have 2.9 billion (and 2.1 billion visit every day). Every aspect of communication, education and entertainment has been changed in the last ten years and they’re expected to shift once again in the next decade.
As Apple introduced the iPad in 2010, Nissan brought the Leaf into the world – winning multiple awards from the outset and changing public perception around electric vehicles. In 2011, the UK population bought just over 1,000 fully electric cars and according to recent data this surpassed 30,000 year-to-date in November 2019. Electric cars, and hybrid vehicles, are now a common sight on the road and this trend is only likely to increase as more investment is poured into charging infrastructure.
But it’s not just the internet and cars that have seen enormous change in recent years. Incremental changes to daily life have compounded to shift how we bank, work and spend. The introduction of Open Banking will continue to proliferate the lending market, meaning customers can access loans which are truly affordable and receive better rates whilst being able to manage their money in a single app. Cashless payments are also due to account for 80% of in-store transactions by 2030 – compounding the demise of high-street branches. Flexible working is also slated to increase, as is the number of self-employed workers, which will dramatically affect how far people travel – whether they need a privately-owned car at all – and traffic flows in major conurbations.
The future is undeniably going to be very different from life today and the infographic compiled by Creditplus highlights the research into technology, finance and mobility.