Five Tech Markets to Watch Out For

By | February 28, 2017

Technology is without a doubt the most important part of societal and humanitarian advancement. It evolves each and every day. Some of the biggest technological developments are changing the way we communicate, think, and play. Whether we like it or not, we live in a world of technology.

 

In 2017, we will continue to see incredible tech expansion in global markets and industries. We’ve found some of the major themes to look out for:

 

Smartphones

When the smartphone was first introduced, the idea of a mobile device that could do more than send and receive a text or make a call was absurd. Nowadays, it is estimated that there are 2-billion smartphone users in the world. We take our smartphones for granted, and that’s because we have had them for over a decade now. However, the advances that have been made since the first smartphone launched are mind-blowing: from cameras, accelerometers, maps, thermometers to waterproof and bendable screens. It’s astounding how far technology has come.

Apps control almost 90% of all time spent on our devices, so it’s no wonder then that people are sending 1.8 hours a day glued to their screens. The mobile industry is expected to generate $3.7 trillion by 2020.

 

Renewable Energy

As a true genius, Elon Musk has embraced solar power in an attempt to create a cleaner, greener world, while expanding his Tesla brand from cars to homes and even to entire transportation revolutions such as the much anticipated Hyperloop that will travel between San Francisco and Los Angeles at speeds of over 700mph. While solar power has been around for decades, it is being embraced and treated as a serious replacement for fossil fuels and gases. Musk has seen that our future world can depend on solar power to run just as efficiently – if not more – than it currently does. However, recently elected President Of The United States, Donald Trump has advanced policies to freeze a $200 billion-a-year renewable energy industry… so that’s definitely something to look out for in 2017.

 

Exponential Technologies

The concept of exponential technologies refers to augmented reality and virtual reality. There has been an influx in the entertainment world, with games, movies and retail experiences like Avenue Imperial, at the forefront of these innovations. The real growth lies in the hospitality, customer experience and also in the live interactions with friends and family as we make use of these two realities. Imagine meeting your mother-in-law for the first time, but you don’t have to actually stay for dinner. Win!

 

Gaming

This is a big one; A $65 billion one to be exact. Generation Y and Z are stuck to their screens and attached to their phones as technology improves and advances. 10 Billion dollars is spent on mobile, $12 Billion dollars spent on PC, while console gaming surges with almost 30 billion dollars in annual sales.

These devices open a door to an entire world of online activities, including high end gaming franchises, educational apps, social media advertising and some pointless games that just help pass time.

This is the market that will continue to grow as long as there are Angry Birds in the sky.

 

Cognitive Technologies

This is a somewhat daunting area of technology; one that threatens 47% of US employment. Cognitive technologies make use of artificial intelligence to allow machines to successfully complete tasks that only humans were once able to do. This includes speech recognition in Audi cars, machine learning, computer vision and robotics, to name a few. Consider big data, as consumer usage can be measured and tracked. This is one market we’re keeping two eyes on, as it is sure to change the world as we currently know it.

 

The world of technology is vast and exciting. These are only some of the impressive markets to watch out for. Technology is impressive and ever-

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