Nearly 1.1 bn 5G connections by 2023, Technology Trends 2020

Published On June 9, 2020
In Technology, Blog Archives

The beginning of a new decade, 2020, is ushering many mind-blowing technology trends that will influence us and reshape the digital world once again. These emerging technology trends are also creating job opportunities as well as pushing the 21st century IT workers to constantly learn and upskill themselves.

Following are some of the technology trends that will change our lives in 2020 and the upcoming years:

#1. 5G and IoT

The successor of 4G/LTE, 5G, promises a new era of connectivity. The 5th generation wireless technology aims to deliver massive network capacity, ultra-low latency, and higher multi-Gbps data speed. According to IDC, nearly 1.01 billion 5G connections will exist in 2023. The advent of 5G is anticipated to accelerate the growth of connected devices and mainstream IoT applications. 5G coupled with IoT will further fuel growth in AI and Big data.

#2. Edge Computing

The distributed computing paradigm, Edge computing, which was initially developed to reduce bandwidth costs for long-range IoT, has come in handy to bridge the gap between computation and data storage. The abundance of data, the evolution of IoT, and the rise of real-time applications that marked the need for on-demand computing will drive the growth of edge computing in 2020. The global edge computing market is expected to reach $43.4 billion by 2027.

#3. Quantum Computing

Quantum computing pledges to create faster and more powerful computers than the ones that we have today by harnessing the power of quantum-level mechanics. While conventional computer processes bits, quantum computers will process quantum bits known as qubits. Tech giants like Microsoft, IBM, and Google are already in the process of building quantum computers. Though at present quantum computing is restricted to labs, the unimaginably fast computers should be available for commercial use in this decade itself.

George Rose, CTO at D-wave posits “intelligent machines that can do anything humans can do will exist by 2028 and quantum computers will have played a critical role in the creation of this type of intelligence.”

#4. Practical implementation of Blockchain

Though cryptocurrency and distributed ledgers have been around for a while now, technical issues like scalability and interoperability have caused a delay in putting the technology to commercial use. However, organizations have started evaluating blockchain to enable trusted and transparent transactions, improve cash flows, and mitigate identity thefts. Also, as per market research, by the end of 2024, corporations are expected to allocate nearly $20 billion per year for blockchain technical services (Forunly).

#5. Mass personalization & micro-moments

Mass personalization refers to the art of creating and offering highly-personalized digital experiences on a mass scale. Although technological advancements like AI, big data, and analytics are enabling companies to connect with customers through personalized messages, only 8% of buyers are willing to take action when they see their name in the personalized messages. Long story short – brands will be able to attract a consumer’s attention only when the offer actually resonates with their need and makes their lives easier.

Micro-moments, in other words, a game-changing moment, offers brands a chance to interact with customers and influence them at a key point in the buying cycle. In simple terms, responding to customer needs at the right moment is known as micro-moments. Once again, AI and Big data analytics are the enablers here.

#6. Digital Twins

Source: Job-wizards

The digital twin technology that was developed to virtually or digitally replicate actual physical assets, including people and places, has turned invaluable for various sectors. For example, digital twins can be a great deal for the manufacturing sector as they facilitate tracking and monitoring of daily operations, streamline manufacturing to reduce wear and tear in machinery, improve productivity, mitigate risks in product availability, etc. The digital twin market is forecasted to grow at a CAGR of nearly 28% between 2019 and 2025 (Gminsights).

#7. Technology to predict at the genome level

Advancements in computing and analytics have highly benefitted the healthcare industry, particularly in the understanding of the human genome. Predictions at the genome level is an incredible leap in understanding the DNA-binding proteins and experimenting with the gene expression. Altering the genetic structure of living organisms can help fight deadly diseases. For example, Cancer can be avoided or cured by correcting DNA mutations.

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SGA Digital Marketing Team
SGA Digital Marketing Team
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