Awareness of the latest technology developments through 2022 will be the top priority for many businesses and investors, But which areas require particular scrutiny?
There’s nothing better than the beginning of a new year to sharpen your company’s goals for the business, and with technology being the foundation of nearly every aspect of business management and is the most critical growth factor, investments in this area will be a significant focus for decision-makers in corporate. This is where the Investment Monitor looks at the tech trends to keep an eye on for 2022.
There has been a lot of discussion in the media about the possibilities that AI (AI) could disrupt our world. Global Data’s 2022 TMT Predictions report predicts an increased role for AI in the next year, with less hype and businesses focusing on practical applications that can help their core business. The AI market is expected to be worth $190 billion by 2025, up from $67bn in 2021, as per Global Data. Companies should be investing in all or some aspects of AI, including machine learning data science, chat platforms, computing vision AI chips, smart robots, intelligent robots, and contextual-aware computing.
Banking technology, healthcare, and banking sectors lead the implementation process. However, most businesses will experience disruptions from any or all technology, as per Global Data. Large Tech is leading the way in AI applications and has the distinct benefit of having vast amounts of computing and data, which is a requirement in AI development.
The metaverse is a virtual space where people share their experiences and interact with each other in real time in simulations. According to Bloomberg Intelligence, the investment in a global metaverse could be as high as $800 billion in 2024. Big Tech has already invested heavily, even though the creation of the entire worldwide metaverse is a long way away.
Meta (formerly Facebook) plans to invest $10 billion in 2021 within its Reality Labs division, demonstrating this field’s importance. Initial prototypes and use cases will be available in 2022, according to GlobalData and GlobalData, with gaming being the ideal place to begin and companies becoming the primary market for metaverse developers in 2022.
The coming year is one of the most important in quantum computing as a technology on the verge of becoming commercial. The most significant advances in this new technology are taking place. The ever-growing competition for a worldwide supply of software engineers is expected to be a considerable challenge over the coming year and beyond. Quantum computing will begin the phase that is consolidation by 2022.
As the shortage of skilled workers increases as the industry grows and expands, start-ups will become targets for acquisitions, specifically those already forming partnerships with larger technology companies, according to GlobalData. Some of them – PsiQuantum, to give an instance might even become public by 2022.
Globally, the cloud computing market is expected to reach $616 billion by 2022, as per GlobalData forecasting, an increase of 13% over 2021. Cloud computing is an essential tool for businesses in 2022 as they gradually outsource the management of their data and applications to third-party service providers. Security of data centers will be more crucial, as will their requirement to be upgraded to be cloud-based. Consequently, GlobalData expects cybersecurity investments to rise, especially the security-as-a-service approach to deterring cyberattacks economical-laptop for machine learning.
The Covid-19 disaster has been an intense learning curve that led to a greater focus on disaster recovery services, specifically for national infrastructures critical to the nation, such as energy and healthcare services. The most successful companies will safeguard their applications and data for accessibility for remote employees who use cloud-based applications. They will also ensure that their operations run with increased interruption risks, as per GlobalData.
The influx of capital into start-ups has raised the number of fintech unicorns to 116 with a total value of $529bn, according to GlobalData, whose analysis predicts at the very least ten new start-ups will join the unicorn club in the coming two years, which includes Atom Bank, Corvus Insurance and Navi Technologies. The rising number of highly-priced fintech start-ups demonstrates the magnitude of disruption they could bring to the financial services industry.
The notion that “if you don’t beat them, join them’ will be prevalent with traditional institutions like Goldman Sachs and Visa forming alliances with fintech unicorns.
It is estimated that the digital currency marketplace is worth $3 trillion and is expected to continue growing by 2022, according to GlobalData, regardless of its volatility. The industry is seeing widespread acceptance by businesses such as Visa and PayPal adopting crypto into their payment systems. The growth of cryptocurrency beyond the initial Bitcoin implies that there are over 14,000 varieties that exist. Global regulators are grappling with the issue of how to regulate this industry, and cryptocurrency has the potential to cause significant disruption to the global financial systems.
Batteries and electric vehicles
The annual electrical automobile (EV) production is expected to surpass ten million units in 2025, according to GlobalData. According to the analytics firm, the percentage of EVs in manufacturing new vehicles will increase from 5 percent in 2021 to 11% by 2025. The transition to EVs is primarily driven by legislative changes aimed at meeting environmental and corporate governance goals. Still, the pace is now also driven by demand. While Europe’s fleet of electric vehicles grew faster than China’s in 2020, China will continue to lead the field. In 2020 48% of all EVs on the road were from China, more than the total of both the US and Europe. For more details, you can read electric vehicles posts on edutechbuddy.com
In 2022, the gap between the demand and supply of lithium and other essential raw materials for batteries will become more complex. GlobalData estimates a growing likelihood of a worldwide battery shortage in 2025. As a result, battery miners who mine core raw materials are likely to see an increase in deals and investments. Additionally, many automakers, like Tesla, remain in the race to pressure the US government to ease tariffs on Chinese-dominated materials for batteries like graphite.
Cloud gaming is expected to increase. Cloud-based gaming market will be worth a total of $3 billion by 2022, rising 59% from 2021, as per GlobalData forecasts. Cloud gaming allows games to stream directly via the cloud and then play on any device with Internet access. Cloud gaming is a great way to shake up the video game industry, worth $221 billion, as companies decide on the best growth strategies. However, by 2022, cloud gaming services that offer exclusive games at a reasonable price will have a higher rate of adoption over other options.
5G usage will continue to grow steadily in 2022 and will be driven by growth in the Asia-Pacific market. North America will have the most widespread 5G coverage by 2022. The growth rate will be faster than any other area, up to 115 percent in 2025. However, it is Asia-Pacific will be the most popular region. The Asia-Pacific region will be the most popular for 5G-related subscriptions in 2022. Fixed wireless 5G will be offered gradually in 2022, primarily for those living in areas that are difficult to reach in the developing world; however, it is becoming increasingly popular for suburban and urban users who work from home more often.
The robotics sector will reach $568 billion in 2030, up from $45bn in 2020, as per GlobalData. The robotics industry comprises two primary segments: industrial robots and service robots. Industrial robots are utilized within factories to automate a portion of the manufacturing process. They include caged industrial robotics and cobots. Service robots support humans when they work in non-industrial environments or at home and comprise logistics, medical consumer, and field robots. While the market for service robots was higher in 2020 than that of the industrial robotics industry in the year 2020 but the demand for industrial robots is predicted to grow more rapidly in the coming decade.