Key Tech Trends in 2024
Across various industries, from generative AI to smart energy solutions and genomics, a diverse array of emerging technologies demand attention from IT professionals and managers globally.
Digital transformation remains an ongoing journey, prompting strategic reflection on the prominent tech trends shaping our digital future each year. In this article, Bocasay, our offshore IT agency headquartered in Vietnam, offers an insightful overview of the most impactful tech trends currently reshaping our digital landscape.
Key Tech Trends in 2024
Generative AI
Generative AI encompasses a class of artificial intelligence algorithms and models engineered to produce new content, be it text, images, audio, or other data forms, based on learned patterns and information from existing data sets. In 2023, we witnessed a rapid surge and widespread adoption of generative AI tools such as ChatGPT. Projections for 2024 are striking, with the global AI market poised to reach $407 billion by 2027. eMarketer forecasts that over half of individuals aged 12 to 44 in the U.S. will be monthly users of generative AI by 2025. Furthermore, research by Ipsos indicates that 66% of global adults anticipate significant changes in their daily lives due to AI-powered products and services within 3-5 years.
Datafication
Datafication involves the process of quantifying various aspects of life, business, and society into data points. It entails converting activities, behaviors, and interactions into analyzable data, facilitated by the exponential increase in data volumes generated through social media, IoT devices, and ongoing digital transformation efforts. By 2024, the global datafication market is projected to value $393.07 billion, expected to surpass $1.1 trillion by 2032. Datafication continues to empower businesses in optimizing products and services through real-time data utilization.
Extended Reality (XR)
Extended Reality (XR) encompasses immersive technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), aimed at enhancing human perception and interaction with the environment. Statista forecasts the global revenue of the AR and VR market to reach $53.71 billion by 2027. With applications spanning gaming, education, healthcare, architecture, and emergency services, XR is anticipated to create 1.2-2.4 million jobs in Europe by 2025.
Digital Trust
Digital trust entails the confidence and reliability individuals, organizations, and societies have in the use of digital technologies, emphasizing security, privacy, and integrity. PwC’s ‘2024 Global Digital Trust Insights’ survey highlights cybersecurity mitigation as a top priority for business executives worldwide in 2024, with CEOs increasingly adopting integrated cyber tech solutions.
Smart Energy Solutions
Smart energy solutions leverage advanced technologies and innovative approaches to enhance energy efficiency, reliability, and sustainability. By 2028, the global smart energy market size is expected to reach $253.0 billion, as communities, industries, and utility providers integrate smart solutions to create a more sustainable energy infrastructure.
Edge Computing
Edge computing, a distributed computing paradigm, processes data closer to the source of generation rather than relying solely on centralized cloud-based systems. Driven by factors including IoT proliferation and real-time processing needs, the global edge computing market is projected to reach $317 billion by 2026.
Quantum Computing
Quantum computing harnesses quantum mechanics principles to perform computations at exponentially faster rates than classical computers. While still in early developmental stages, the global quantum tech market is expected to reach approximately $3.1 billion by 2028, with potential disruptions across various industries.
Genomics
Genomics, focusing on an organism’s complete set of genes, has revolutionized biology, evolution, and human health understanding. With the global genomics market revenue forecast to reach $94.86 billion by 2030, the market continues to grow, driven by demand for gene therapy, personalized medicine, and drug discoveries.
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Author : Saigontech.io
