The technology industry is among the fastest growing industries, with tech giants like google fueling money into innovative cutting edge technology development start-ups. The worldwide spending on technology touched the market of 3,360 billion US dollars in 2019.
Emerging technologies are currently responsible for 50 percent of global tech growth including Robotics, AI, AR/VR and Big Data.
At an organizational level, the drivers of tech growth include improving sales/marketing efforts, boosting internal operations, picking-up of business from existing customers, and acquisition of new customers.
Top 11 trends that will impact our lives in 2020:
1. Distributed Cloud
The technology in which networking, storage, and computation are present outside the centralized cloud (in a separate micro-cloud) is referred to as a distributed cloud. The cloud has low latency, autonomy and security, is resilient and has network scalability.
Examples of current and emerging applications that benefit from a Distributed Cloud Infrastructure include: content delivery networks (CDNs), data storage with regulatory compliance, hybrid cloud platforms, IoT data processing, video processing, VR/AR, machine learning and control/decision systems.
2. 5G Network
5G is the fifth generation of mobile wireless communications technology — the upgrade to the 4G network. By using shorter, higher-frequency bands of the radio spectrum, 5G promises lower latency, faster speeds and greater load capacity.
It has the potential to reach a staggering 10 gigabits per second, which will surely be a major boon for many businesses across all industries and sectors as the amount of data that enterprises transfer every day, hour, even minute is growing rapidly.
3. Cyber-security
The growth of technology and the industry has advanced to cutting edge innovations like drones and the Internet of Things (IoT). This inturn has resulted in data breaches and other cyber threats. As reported by Norton, there were 3800 breaches that were publicly disclosed by 2019’s first half.
Next year, adoption of Internet Protocol Version 6 (IPv6), which is a network layer protocol, is going to be mainstream. The reasons include more efficient packet processing, more efficient routing, simplified network configuration and directed data flows.
4. AI as a Service
Artificial Intelligence as a service (or AIaaS) are solutions offered by third parties mainly in the form of cloud services. The companies and individuals can experiment with Artificial Intelligence without investing too much.
ALaaS provides business with some of the following perks:
- Opportunity for rapid growth
- Allows you to easily identify what your customer needs based data
- AI technology can adapt and learn based on your operations, data about user behavior patterns and useful trends
- Track performance more effectively
- Predicts future trends based on data analysis
5. Hyper-automation
With Robotic Process Automation (RPA) at its core, hyper-automation is a combination of process mining, Artificial Intelligence, analytics, and other such tools.
This can enable organizations to minimize wastage of resources – as robots, humans, and other resources start working in synergy, the processes will get more streamlined.
Other possible benefits include easy scaling up of the projects and more efficient ROI.
6. IoT as a Service
IoT services come with many benefits, where a business can connect their machinery, assets, vehicles and embed tags and sensors. However, with complex technology comes various challenges and involves a lot of money.
IoT will enable machines to convey to owners when a service or repair is required. It also allows business to take more proactive measures as they will be receiving performance reports of the performance of their product – using this, companies can develop and fix any problems more immediately.
7. Democratization
This is going to be a trend that may very well change the very fabric of how the technology sector will be shaped in the future. With technology being more accessible to more people via open-source resources and hence more probability for industry innovation. Furthermore, it allows products to be designed in more user-friendly ways and more importantly makes products more affordable.
Democratization will allow freelance software developers and hobbyists to get better opportunities to innovate and contribute to the technological sector without having to get into the battlefield of the giants like Google, Microsoft, IMB etc.
Final Word
Upcoming technological trends will allow businesses to at more rapid speeds and develop innovative products that could make life easy across various industries and various fronts.