Check out the Future Market Predictions for New Age Technologies

It is clear from current patterns that technology will change how we interact, learn, share, and invent in the future. The futuristic disruption will have wide-ranging effects on businesses, employees, and clients. Leaders and inventors are being forced by such technology to reevaluate how they will develop and safeguard commercial value in the future. Even if this year is about to finish, we may anticipate that a number of cutting-edge technologies will expand their market and reach in 2024 and beyond. Here, we’ve produced a list of the top 7 new technologies, along with market projections for the ensuing ten years.

1. Artificial Intelligence

A survey projects that from 2019 to 2023, the size of the global artificial intelligence (AI) industry would increase by US$ 75.54 billion. According to McKinsey, AI will significantly increase productivity compared to what the steam engine could do in the 1800s. According to McKinsey, by 2030, AI will have had a US$13 trillion positive economic impact on the global economy. Additionally, it anticipates that until 2030, AI will contribute an additional 1.2 percent each year to GDP growth.

2. Massive Data Analysis

According to study analysis, the global market for big data analytics will reach US$ 275 billion by the end of 2023, expanding at a CAGR of 12% from 2017 to 2023. The leading companies in the worldwide analytics industry, according to the research, are IBM, Microsoft, Oracle, SAP, and SAS Institute Inc.

3. Drones

According to a survey, the size of the worldwide drone market is anticipated to increase to US$ 13.37 billion by the end of 2025, expanding at a CAGR of 13.70 percent. The report states that the ability to perform hazardous tasks more accurately and affordably than with conventional methods, such as inspecting utility pipelines, implementing commercial drone services, formulation of regulatory policies for the best use of drones, and growing public awareness of UAVs are the main factors driving growth.

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4. Robotics

According to research, the worldwide robotics industry would expand at a compound annual growth rate (CAGR) of around 26% and hit just under US$ 210 billion by 2025. The market is anticipated to reach the $100 billion milestone in the near future, in 2020. According to the research, over the next half-decade, the sector will see the emergence of cloud-based robot services for legions of installed robots as well as for robots hired on an as-needed basis, particularly by small and medium-sized businesses, which will result in new demand drivers.

5. RPA

According to research, the worldwide robotic process automation (RPA) industry would be worth US$3.97 billion by 2025, rising at a CAGR of 31.1% throughout that time.

6. Cybersecurity

According to a survey, the market for global cyber security is anticipated to reach US$ 345.42 billion by 2026, rising at a CAGR of 12.3 percent between 2018 and 2026. The cybersecurity market is expected to rise as a result of an increase in malware and phishing attacks, as well as increased IoT usage and the BYOD trend among businesses. Additionally, as the study shows, the encryption solutions sector may have considerable market development throughout the projection period based on the solution.

7. Utilizing the Cloud

The size of the worldwide cloud computing industry, which was estimated at US$ 36,700 million in 2018, is expected to increase by 29.2 percent by the end of 2025 to reach US$ 28,5300 million. Amazon Web Services, Microsoft Azure, IBM, Aliyun, Google Cloud Platform, Salesforce, Rackspace, SAP, Oracle, VMware Inc, Dell Inc, EMC, and GIANT are a few of the leading competitors in the market.