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Blooming of Booming Technology

Human Race with the evolution of Science since an era has seen a lot in the recent age of cutting edge technologies. Be it from Space, Military, IT, Data Science, Big Data Analytics, Mobility, Social Media, Machine learning, Coding and from AI to Robotics every round the world is plunging more into latest trends of technological governance over the traditional one. Gone are the days where the world waited to witness technological revolutions over years but is now on every setting where organisations are assimilating the vibrant technological components. Technology has been echoing all over by every now and then.

Amid COVID-19 pandemic cloud and internet technologies are keeping our world running. With social distancing in place businesses across sectors are working remotely and people are completely dependent on online services for their essential and non-essential needs. To make this virtual world as real, efficient, and impactful as possible, the demand for robust tech creeks is on a boom.

To flash at a few the emerging technologies paint a bright future, but they are still too expensive to develop and introduce for mass use. The bottom line is, technology doesn’t wait for you and if you are not keeping up with it, you will surely be left in the dust. Keeping up with the latest technologies will aggressively help organisations setting milestones.

Artificial Intelligence

Artificial Intelligence is diffusing at a lightning speed. It has continued to make its place in the list of top technology trends since quite some years now. With its present innovations that enables computers to read, see, listen, speak and even record emotions will help AI become a technology that no longer needs human intervention to aid its learning. By 2020, the innovation will be deeply entrenched in both business and consumer activities. Pundits predict that jobs in AI will be in a demand for 23 million by 2020.

The global AI market is expected to reach $35,870 million by 2025, at a compound annual growth rate of 57.2% from 2017 to 2025, according to a research report by Grand View Research.

Machine Learning

Machine Learning is a subset of AI. With Machine Learning, computers are programmed to learn to do something they are not programmed to do: they learn by discovering patterns and insights from data. In general, we have two types of learning, supervised and unsupervised.

Machine Learning jobs rank among the top emerging jobs on LinkedIn, with almost 2,000 job listings posted.

Cloud Computing

The future belongs to the Cloud Computing. With recent advancements in the technology sphere, cloud computing is poised to undergo a massive development and change by 2020. All you need is a device connected to the internet. Edge computing is designed to help solve some of those problems as a way to bypass the latency caused by cloud computing and getting data to a data centre for processing.

The global cloud services market is projected to reach $555 billion by 2020, growing at a compound annual growth rate of 17.6% from 2014 to 2020, according to a research article by Allied Market Research.

Cyber Security

As proof of the strong need for Cyber security professionals, the number of Cyber security jobs is growing three times faster than other tech jobs. However, we’re falling short when it comes to filling those jobs.

The Global Cyber Security Market predicted that there will be a demand of 3.5 million unfilled Cyber security jobs by 2021.

Internet of Things

Smart homes, smart cities, smart devices are concepts that are already in play today. It is evident that almost everything from TVs, water heaters, microwaves, refrigerator, etc will be smart and intelligent in the coming years. There will be a series of new entries in only a matter of time. It is projected by HIS that there will be over 75 billion connected devices by the year 2020. Undoubtedly, the future belongs to the Internet of Things devices.

The global spending on IoT is projected to reach $1.3 trillion by 2020, at a compound annual growth rate of 14.4% through 2017 to 2021, according to IDC.

Automation

From wrapping juice boxes to delivering juice cartons in self-driving cars, automation is climbing the food chain from doing routine tasks to a lot more complex, decision-making tasks. Amazon’s automated grocery store, Amazon Go, is designed with an aim to eliminate checkout lines faster and enhanced shopping experience. This has been the first major tech triumphs of the year.

Automation has moved ahead from its involvement in the production lines. This technology will have far-reaching implications as there are a number of ways automation will create its presence around us by 2020. AI is one part of what we refer to broadly as automation, and automation is a hot topic because of potential job loss. Experts say automation will eliminate 73 million more jobs by 2030.

The global home automation market is expected to reach $116.26 billion by 2026, at a compound annual growth rate of 6.8%, stated on a report published by Transparency Market Research.

Technologies leading to Digital Transformation: Nowadays built technologies are helping make nations cross both public and private enterprises, to deploy cloud and mobility-based applications.

  • Increased end-user satisfaction
  • Improved Efficiency
  • Customer Experience
  • Robust Decision Making
  • Enhanced Profitability
  • Better Market Penetration

To flash at a few the emerging technologies paint a bright future, but they are still too expensive to develop and introduce for mass use. The bottom line is, technology doesn’t wait for you and if you are not keeping up with it, you will surely be left in the dust. Keeping up with the latest technologies will aggressively help organisations setting milestones.

The global digital transformation market size is expected to grow from USD 469.8 billion in 2020 to USD 1009.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period. Although technologies are emerging and evolving all around us, these uptrend technologies are promising in foretelling the future.

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global digital transformation market, while Asia Pacific (APAC) is expected to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The region is becoming a new hotspot in the digital transformation market, due to rising investments in the process of digitalization across potential economies.

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