1. 5G technology to set the ball rolling within the commercial market scenario
5G technology started its initial journey in 2008, with colossal research and investments by both public and private companies, reaching a state of full utilization within 2021. It is estimated that 5G technology would have over 2 billion subscribers globally by 2025 (Source: GSM Association). With various countries set to commercialize the 5G technology in 2021, overall technology growth is set to follow a positively correlated path in the future. For instance, Reliance Jio, one of the major telecom players in India, announced its decision of rolling out 5G services in India in 2021. Similarly, the heat of colossal investment for 5G within Asia-Pacific is on the rise, which is estimated to put a major upthrust for the overall market growth, thereby taking the region to a skyrocketed level. In July 2020, Asia-Pacific mobile operators announced investments of around $ 400 billion on their networks, out of which around $ 330 billion would be spent on 5G deployments.
2. Internet of behaviors (IoB) – A new branch of Internet of Things (IoT) technology
In simpler terms, this technology can be regarded as a process that garners data and interprets it for gaining new insights/ promote products, primarily from a human psychology perspective. With a rise in the adoption of behavioral targeting as one of the major marketing strategies, the overall market scope of the internet of behaviors is estimated to catch a higher elevated state.
Below are some of the major areas, where IoB is set to create a huge revolution,
• Big data
• Colossal scope for marketing research
• Improved SEO
• Access to consumer lifestyle data
3. Hyper automation has laid its framework for optimizing overall business processes
Globally, all businesses are focusing to reduce operational costs to improve efficiency. Around 70% of organizations are on the path of automating their business process. Hyper automation is estimated to emerge as a key gamechanger, thereby turning out as a priority for various enterprises. Hyper automation primarily comprises process automation and integrating technologies such as Robotic Process Automation (RPA), serving as the base for artificial intelligence (AI), machine learning, process mining, data analytics, and other advanced automation tools. Pandemic era being majorly a workforce independent scenario, specifically within manufacturing and industrial areas, the scope of automation has increased by double-fold. An automation technology leader, UiPath launched an end-to-end hyper-automation platform in May 2020, which primarily supports every phase of the automation lifecycle and deployment options that give organizations immediate management of their robots from the UiPath Automation Cloud.
4. Cybersecurity mesh to expand its presence within the digital world
5. Anywhere operations to act as a gamechanger technology within the digital era
As the name suggests, the term anywhere operations primarily refers to an IT business model for supporting customers everywhere, enabling employees to deliver their functions irrespective of any place, and managing the deployment of business services across distributed infrastructures. Work-from-home policy, owing to the COVID-19 scenario has led to a rise in the use of various technologies, as this concept offers advantages over the five core areas: collaboration and productivity, secure remote access, cloud, and edge infrastructure, quantification of digital experience, and automation to support remote operations. With this trend on the rise, by the end of 2023 around 40 to 50% of organizations are expected to apply anywhere operations to deliver optimized and blended virtual and physical customer and employee experiences.
6. AI engineering holds an immense potential to revolutionize the industrial sector
AI engineering technology primarily stands on three basic pillars, namely, DataOps, ModelOps, and DevOps, with all these pillars providing utmost performance, scalability, interpretability, and reliability, garnering a colossal investment ratio. One of the major challenges with respect to AI is that only 40% of projects are converted into production. Lack of adequate tools for creating an agile based AI structure has been a key issue that is lowering system scalability.
7. Distributed cloud to reshape the future of storage market scenario
With rise of IoT and sensor network, demand for on-demand cloud computing has increased, thereby providing a strong base for data computation and technology. Distributed cloud computing has acted as a boon for work-from-home scenario, where resources are distributed irregularly over multiple locations, which has created a double fold growth for the overall technology. In November 2019, Volterra launched comprehensive SaaS-based platform that enables organizations to centrally deploy and manage applications distributed across multiple clouds and edge locations. It is estimated that by 2025, major cloud service providers would integrate this distributed functionality with their services, which would increase overall cloud adoption rate, thereby creating a high year on year growth for the market.
8. Integration of total experience structure to create a profitable business scenario
With the COVID pandemic, there has been a rise within the online working environment, creating a demand for virtual marketing space in the form of e-commerce, retail, and trade. With major users relying on online channels for purchasing goods on a daily basis, both in the B2B and B2C sectors, there has been a rise in demand for customer experience solutions. As this trend would continue its dominance in the future, the demand for total experience solutions is on rise. The total-experience solution primarily focuses on all major personalization factors such as UX Design, Unified Commerce, and Search Experience Optimization (SXO), which is anticipated to create a high lucrative profitable scenario for the overall business structure.
9. Privacy enhancing computation to resolve issues within the digital era
As the term suggests, privacy-enhancing computation primarily focuses on providing trusted environment in which data can be processed through third-party and hardware-trusted execution environments. As organizations are primarily adopting data for strategy analysis and manufacturing optimization, with a high reliance on analytics division, the scope of data security and privacy widens, which, in turn, is set to create a strong foundation for privacy-enhancing computation technology.