SAN FRANCISCO, June 19, 2024 /PRNewswire/ — Explore the top technology trends from Horizon’s Databook powered by Grand View Research Inc., featuring insights on over 5,000 markets driving transformative changes across industries. Here are the top technology trends of 2024
1- Artificial Intelligence (AI)
The AI market, valued at USD 196.6 billion in 2023, is poised to witness significant growth at a CAGR of 36.6% from 2024 to 2030, driven by advances in machine learning, natural language processing, and computer vision.
- Generative AI: Generative AI is advancing to produce content, transforming applications into more interactive and intelligent platforms. This evolution, exemplified by tools like Gemini, Claude AI, and ChatGPT, shifts AI from passive data retrieval to active conversational advisors. This enhancement not only improves data accessibility but also significantly boosts user engagement, marking a paradigm shift in how AI interacts with and assists users in various domains.
- AI Gadgets: AI gadgets are increasingly incorporating natural language processing, enhancing user interactions beyond traditional touch interfaces. Devices such as the Rabbit R1 showcase this trend by offering seamless and intuitive controls. This integration improves user experience by enabling more efficient and user-friendly interactions with technology, setting the stage for broader adoption of AI-driven gadgets in daily life.
2- Edge Computing
The edge computing market is expected to increase from USD 16.45 billion in 2023 to USD 155.90 billion by 2030, at a CAGR of 37.9%. This growth is driven by the need for faster data processing, reduced latency, and the rise of IoT devices, particularly in manufacturing and telecommunications.
3- Quantum Computing
Quantum computing is anticipated to create up to USD 1.3 trillion in value by 2035. Its growth is fueled by the ability to solve complex problems in automotive, chemicals, financial services, and life sciences, which traditional computers find challenging.
4- Blockchain Technology
The blockchain technology market is projected to reach USD 1.43 trillion by 2030, propelled by increased venture capital investments and applications in finance, supply chain, and healthcare. Blockchain enhances transparency, security, and efficiency in transactions and data management.
5- Metaverse
The metaverse market is projected to exceed USD 936 billion by 2030, driven by the integration of AR, VR, and blockchain. It offers immersive virtual experiences for gaming, social interactions, and virtual commerce, attracting significant investments from major tech companies.
6- 5G Technology
The global 5G services market is expected to grow at a CAGR of 59.4% from 2023 to 2030. Key drivers include the deployment of 5G networks enhancing mobile connectivity, supporting IoT applications, and enabling smart cities and autonomous vehicles.
7- Cybersecurity
The cybersecurity market is projected to reach over USD 500 billion by 2030. Growth drivers include the increasing prevalence of cyber threats, data breaches, and the adoption of cloud services, prompting investments in advanced security solutions like zero-trust architecture and AI-driven threat detection.
8- Sustainable Tech and Green Computing
Sustainable technology focuses on reducing environmental impact through energy-efficient solutions and renewable energy sources. Growth is driven by increased awareness of climate change, regulatory pressures, and the push for corporate social responsibility.
9- Robotics and Automation
Robotics and automation are transforming industries by improving efficiency and reducing costs. Growth is driven by advancements in AI, machine vision, and robotics hardware, enabling applications from manufacturing to healthcare and service robots.
10- Digital Twins
Digital twins, virtual replicas of physical systems, are enhancing operations and maintenance in industries like manufacturing, healthcare, and urban planning. Growth is driven by IoT integration, advanced simulation tools, and the need for predictive maintenance and optimization.
About Horizon Databook – The most extensive market research database
Horizon Databook is the largest market research database, with over one million data points across 20,000+ markets. The platform is first-in-class and is designed to service a full suite of market research clients. It is a one platform offering five solutions that include the following:
- Over one million market statistics: Global, regional and country (25+) statistics focusing on revenue, volume and growth spanning across a timeline of 10 years form the core of this platform.
- The platform hosts over 25,000 market reports ready to be downloaded or viewed online in an HTML format. These reports are a comprehensive analysis of a market and cover everything from market statistics, drivers and restraints to detailed company analyses.
- 5 million+ companies: Detailed financial performance, deals and latest news are all an integral part of Horizon. We have partnered with industry pioneers to provide accurate and latest competitive data.
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SOURCE Grand View Research, Inc.
