Renewable

Energy

The share of renewables in meeting global energy demand is expected to grow by one-fifth in the next five years to reach 12.4% 

Renewables will have the fastest growth in the electricity sector, providing almost 30% of power demand . During this period, renewables are forecast to meet more than 70% of global electricity generation growth, led by solar PV and followed by wind, hydropower, and bioenergy. Hydropower remains the largest renewable source, meeting 16% of global electricity, followed by wind (6%), solar PV (4%), and bioenergy (3%).

While growing more slowly than the power sector, the heat sector – which includes heating for buildings or industry – will account for the biggest overall share of renewables in meeting energy demand in 2023. Renewable heat consumption is expected to increase by 20% over the forecast period to reach a share of 12% of the heating sector demand by 2023. However, a modest increase in the share of renewable heat is foreseen, as robust growth in total heat demand is expected to result from continuous economic and population growth.

Renewables in transport have the lowest contribution of all three sectors, with their share growing only minimally from 3.4% in 2017 to 3.8% in 2023. Although they expand by almost one-fifth over the forecast period, renewables cover only a small portion of all energy demand in transport because of ongoing petroleum product consumption. Renewables in transport mostly comes from biofuels, and although renewable electricity consumption in road (such as electric cars, two- and- three wheelers, and buses) and rail transport modes increases 65% over the forecast period, this is from a low base.

Industrial & Business

Services

Technology is driving rapid and sweeping change in social habits and personal and corporate behaviour. 

Customers are more informed and sophisticated, with unprecedented access to product and competitor information. 

Customer bases can change in a short space of time, as channels to market evolve and geographical barriers disappear.
Any business involved in Industrial Manufacturing & Services organisations will understand the need adapt to this new and evolving business landscape and face two big questions:
How will the trends – technological breakthroughs, changing demographics, resource scarcity, shifting economic power and rapid urbanisation – change the businesses operating in this sector?
What actions can these businesses do now be ready forchange in the future?
 

Aviation

The International Air Transport Association (IATA) expects 7.2 billion passengers to travel in 2035, a near doubling of the 3.8 billion air travelers in 2016. The prediction is based on a 3.7% annual Compound Average Growth Rate (CAGR) noted in the release of the latest update to the association’s 20-Year Air Passenger Forecast.

“People want to fly. Demand for air travel over the next two decades is set to double. Enabling people and nations to trade, explore, and share the benefits of innovation and economic prosperity makes our world a better place,” said Alexandre de Juniac, IATA’s Director General and CEO.  
The aviation sector is experiencing rapid growth worldwide, propelled by booming tourism industries,air fares and the push for greater connectivity in an increasingly globalised economy. Middle-class expansion has also spurred growth in air travel, as more people are able to afford flights for holidays or business-related travel. According to Boeing, commercial airlines experienced annual average passenger growth of 6.2% between 2012 and 2017. The manufacturer also estimated that by 2036 an additional 41,000 plane deliveries will need to be fulfilled in order to meet service needs for both passengers and cargo. To accommodate these developments, civil aviation authorities and airlines are investing in airport infrastructure, route expansion and fleet capacity, among other efforts. However, the speed at which the industry is growing poses challenges, particularly in regard to human resource needs, safety and congestion, leading to reasonable concern that the industry is expanding too rapidly. Significant investment will be needed in all areas of aviation to ensure it will be ready to meet long-term demands.lower

IATA is also looking to simplify booking records and ticketing and, eliminate payment complications by introducing the One Order standard, which will offer more continuous information on the passenger's booking that can be identified across airline systems and platforms.

While these systems will ultimately boost revenue and reduce airline costs, the ramp-up to adoption is requiring a significant investment of IT, marketing and revenue management resources at airlines, brick and mortar travel agents, online travel agents (OTAs), and other online and off-line travel service providers.

Airlines and airports are also investing heavily to accommodate the demands of present and future travelers by adopting technologies like biometric ID, automated check-in and bag drop systems, improved security screening equipment and digital passenger services.

The impetus for all of this investment is to ensure that the industry can support greater global connectivity.