The vast array of technologies available to us in 2017 is astounding. Here are the major trends that offer huge opportunities for growth in the years to come. These tech disruptors are opening up new Blue Ocean markets that we are now only scratching the surface and beginning to explore:
Internet of Connected Things (IoT)
From smart homes to smart devices, every gadget is becoming “smart.”
At the recent IoT Conference in Dubai, experts believe that we will have anywhere from 50-100 billion physical devices connected on the internet by the year 2020, adding up to $2 trillion across industries.
Wearables and Renewables
From health tracking to self-driving electric cars, this year will see big leaps in the development of these technologies. How far are the industry leaders willing to collaborate and share knowledge? The more open-sourced the technology, the faster the rate of innovation.
Augmented Reality and Virtual Reality
Pokémon Go was only the beginning. Expect to see more AR and VR technology showing up in more widespread practical applications. According to an IDC forecast reported via BusinessWire, Worldwide revenues on virtual reality and augmented reality could reach $13.9 billion in 2017, an increase of 130.5% over the $6.1 billion spent in 2016. AR and VR spending is expected to accelerate over the next several years, totaling $143.3 billion in 2020. In another report by Global Market Insights, the global market for AR products could hit $165 billion by 2024. There is no slowing down in sight. Apple already has its team working hard on new AR products to connect to the iPhone.
AI and Machine Learning
Sophisticated Artificial Intelligence as we envisioned in movies may still be a little ways off (and I think that’s not necessarily a bad thing, as there are important issues around the implications of human-like robots that need to be defined and resolved first), but there are big opportunities happening now in these technologies. We’re already seeing this technology moving out from the manufacturing sector into the retail industry analytics applications. This trend will continue to evolve and play a prominent role in improving the user experience. Machine Learning has been leveraged to improve process efficiencies and other mission-critical tasks in diverse markets, including genetic engineering, targeted customer marketing in search and social media, detecting trading patterns in financial markets, and vision-guided robotics. Read more about it on Forbes Tech.
Migrating your critical systems to the cloud will continue to transform businesses. More companies will adopt cloud strategy to streamline operations, increase productivity, and reduce costs.
With the IoT on the rise, we also see the cybersecurity threat landscape shifting in parallel. The leadership team including the CTO, CMO, R&D, and product designers must incorporate security early in the development phase of applications, solutions, and solutions architectures. Blockchain applications and regulatory framework are also part of the cybersecurity landscape. Read more on blockchain trends on Forbes Tech.
This trend is becoming a mainstay. Advanced new technology in automation could entirely replace several jobs previously performed by the human hands. We will continue to see automation across various sectors, including marketing analytics, data centers, manufacturing, and robotics, among others.
Big Data and Analytics
For marketers, gathering and analyzing mass quantities of data is part of the job. Big data can help us in everything from planning better campaigns to improving the user experience. Data possibilities have expanded into other territories, including education and health care, enabling personalized learning and helping doctors provide better treatment for their patients. New development will continue to make data more qualitative, accessible, and applicable.
On-Demand; On-the Go Services
Smartphones have created the mobile lifestyle and on-demand services that we now come to expect in every aspect of our daily lives. From Amazon Prime to Uber to Favors, customers demand instant service and delivery of all things. Innovation in the mobile apps and the cross-over of the virtual digital technology to physical reality will continue to expand exponentially. Consumers have more choices and flexibility. Innovators will come up with new creative ways to cater to these demands.
For visionaries and entrepreneurs, the ocean of opportunities awaits. It’s exciting to look ahead and ponder how to leverage these technologies to add more value to the marketplace in new ways.