- May 24, 2022
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IT technologies have an increasing impact on day-to-day life and on business. Which ones are disrupting the market? Here are some trends for 2021 that will grow in the coming years.
1. Artificial
Intelligence and Machine Learning
AI is not new, it has been a buzzword for about a decade
now, but it’s still in the early babbling because the effects of this technology
on how we live, work and entertain can be phenomenal. AI applications already
include advanced web search engines (i.e. Google), recommendation systems (used
by YouTube, Amazon or Netflix), understanding human conversation (such as Siri
or Alexa), self-driving cars (e.g. Tesla), automated decision-making and
competing at the highest level in strategic game systems (such as chess and
Go), voice recognition, navigation apps, smartphone personal assistants,
ride-sharing apps…
The scope of these applications is set to expand further.
AI, fed by an ever-increasing amount of data, will play an increasingly
important role in the coming years in sectors as varied as supply chain,
healthcare, etc.
According to Marketsandmarkets, the AI market will grow to a
$190 billion industry by 2025 with global spending on cognitive and AI systems
reaching over $57 billion in 2021.
Machine learning (ML) is the study of computer algorithms
that can improve automatically through experience and by the use of data. It is
seen as a part of artificial intelligence. ML algorithms build a model based on
sample data, known as "training data", in order to make predictions
or decisions without being explicitly programmed to do so. ML algorithms are
used in a wide variety of applications, such as in medicine, email filtering,
speech recognition, and computer vision.
2. Blockchain
Blockchain is definitely one of the most important trends in
the IT industry. A blockchain is a growing list of records, called blocks, that
are linked together using cryptography. It's also described as a
"trustless and fully decentralized peer-to-peer immutable data
storage" that is spread over a network of participants often referred to
as nodes.
When you think blockchain technology, cryptocurrencies, such
as Bitcoin or Ethereum, are the first thing that comes to mind. But its
applications are uncountable, in the financial sector, supply chain, energy
trading, healthcare… According to Anne Connelly, co-author of “Bitcoin and the
Future of Fundraising”, this technology will lead to a real revolution in the
organization of societies, through increasing decentralisation. “99% of the
blockchain impact is about to come”, she declared at the tech conference ICT
Spring Europe in Luxembourg in September.
The global blockchain market size is expected to grow from
USD 3.0 billion in 2020 to USD 39.7 billion by 2025 (Marketsandmarkets).
3. Digital Health
Digital health includes digital care programs, technologies
with health, healthcare, living, and society to enhance the efficiency of
healthcare delivery and to make medicine more personalized and precise. Again,
fed by an increasing amount of data, Digital Health has literally boomed with
the Covid crisis. As patients became unable to visit doctor’s offices and hospitals,
digital health rose to fill the gap.
The global digital health market size was valued at
$145,884.3 million in 2020, and is projected to reach $767,718.9 million by
2030 (Allied Market Search).
4. Quantum Computing
Quantum computing is a type of computation that harnesses
the collective properties of quantum states, such as superposition,
interference, and entanglement, to perform calculations. The devices that
perform quantum computations are known as quantum computers. Qubits are the
performance indicators in quantum computing. The first quantum computer was
created in 1998 with a power of 2 qubits. Google wants to create a 1000 qubits
quantum computer by 2029. The effects of quantum computing are still ahead of
us.
For instance, quantum computing will totally change
cryptography, according to André Meyer, Security Practice Lead Luxembourg,
Accenture. But this technology can also be used to develop potential vaccines,
thanks to its ability to easily query, monitor, analyze and act on data, regardless
of the source. Another field where quantum computing is finding applications in
banking and finance, to manage credit risk, for high-frequency trading and
fraud detection.
John Preskill, an American theoretical physicist, has
introduced the term “quantum supremacy” to refer to the hypothetical speedup
advantage that a quantum computer would have over a classical computer in a
certain field. Many institutions and states are working on quantum computing
“without making any announcement”, Meyer informed at ICT Spring Europe, meaning
that it is still difficult to predict who will take the lead in this future
technology.
The revenues for the global quantum computing market are projected
to surpass $2.5 billion by 2029 (statista.com).
5. Robotic Process
Automation (RPA)
Robotic process automation (RPA) is a form of business
process automation technology based on metaphorical software robots (bots) or
on artificial intelligence (AI)/digital workers. It is sometimes referred to as
software robotics. Like AI and Machine Learning, RPA is another technology that
is automating jobs. Many businesses are embracing RPA to help achieve more
efficient workflows for rule-based tasks. RPA can be integrated into all areas
that require recurring tasks (updating CRM, processing customer requests or
online orders, managing human resources, implementing marketing campaigns,
etc.).
The global RPA market size was valued at USD 1.57 billion in
2020 and is expected to grow at a compound annual growth rate of 32.8% from
2021 to 2028 (Grand View Research).
6. Edge computing
Edge computing is a method of optimization used in cloud
computing that involves processing data at the edge of the network, close to
the source of the data. This is expected to improve response times and save
bandwidth. Edge application services reduce the volumes of data that must be
moved, the consequent traffic, and the distance that data must travel. That
provides lower latency and reduces transmission costs. Computation offloading
for real-time applications, such as facial recognition algorithms, showed
considerable improvements in response times.
The global edge computing market is expected to reach $6.72
billion in 2022.
7. Virtual reality
(VR) and augmented reality (AR)
VR is a computer-generated environment with scenes and
objects that appear to be real, making the user feel they are immersed in their
surroundings. AR is the superimposition of reality and elements (sounds, 2D or
3D images, videos, etc.) calculated by a computer system in real time. VR
immerses the user in an environment while AR enhances their environment.
AR and VR have enormous potential in training,
entertainment, education, marketing, and even rehabilitation after an injury.
Either could be used to train doctors to do surgery, offer museum-goers a
deeper experience, enhance theme parks. For instance, in 2017, Thomas Gregory
(Shoulder Elbow Wrist and Hand Surgeon, Professor at Paris Sorbonne University)
was one of the first surgeons to perform surgery in augmented reality.
In 2019, 14 million AR and VR devices were sold. The global
AR and VR market is expected to grow to $209.2 billion by 2022 (techjury.net).
This summer, Mark Zuckerberg laid out his vision to
transform Facebook from a social media network into a “metaverse company” in
the next five years. This project could be a milestone in the AR and VR market.
The metaverse is a collective virtual shared space, created by the convergence
of virtually enhanced physical reality and physically persistent virtual space,
including the sum of all virtual worlds, augmented reality, and the internet
(lien article ITOne).
8. Internet of
Things (IoT)
IoT describes physical objects that are embedded with
sensors, processing ability, software, and other technologies, and that connect
and exchange data with other devices and systems over the Internet or other
communications networks.
The field has evolved due to the convergence of multiple
technologies. In the consumer market, IoT technology is most synonymous with
products pertaining to the concept of the "smart home", including
devices and appliances (lighting fixtures, thermostats, home security systems,
cameras…) that support one or more common ecosystems, and can be controlled via
smartphones or smart speakers. The IoT can also be used in healthcare systems.
We are only at the beginning of the development of this
technology. Forecasts suggest that by 2030 around 50 billion of these IoT
devices will be in use around the world (statista.com). The global spending on
IoT is forecast to reach 1.1 trillion U.S. dollars in 2022 (statista.com).
9. 5G in everyday
life
The next technology trend that follows the IoT is 5G. 5G
networks offer the supporting foundation that businesses can leverage to
embrace many upcoming disruptive technologies. Where 3G and 4G technologies
have enabled us to browse the internet, use data driven services, increased
bandwidths for streaming, 5G services are expected to revolutionize our lives
by enabling services that rely on advanced technologies like AR and VR,
alongside cloud-based gaming services. It is expected to be used in factories,
HD cameras that help improve safety and traffic management, smart grid control
and smart retail too.
5G services are expected to launch worldwide in 2021 with
more than 50 operators offering services in about 30 countries by the end of
2021 (European 5G Observatory).
10. Cybersecurity
With the increasing digitalisation of society as a whole and
the proliferation of cyber-attacks, cyber security is undoubtedly set for a
bright future. Cyber security is constantly evolving, thanks to the constantly
new threats.
The number of cybersecurity jobs is growing three times
faster than other tech jobs, all the stakeholders pointing to the lack of
resources in this sector. The need for proper cybersecurity is so high that by
the end of 2021, $6 trillion will be spent globally on cybersecurity
(International Institute of Business Analysis).
As its name suggests, cyber security will be at the heart of the Cybersecurity Week Luxembourg (18-28 October) for which ITOne is a media partner.