Investment Monitor has cited data from a report by GlobalData, stating that in 2023, the top technology trends receiving investments will focus on AI, Metaverse, Cloud Computing, Cybersecurity, Blockchain and Cryptocurrency, Internet of Things, Robotics, and Quantum Computing. These trends are expected to contribute positively to the development of various industrial and economic sectors, while also creating attractive investment potential for investors and businesses in the future.
Artificial Intelligence (AI)
According to the GlobalData report, the field of Artificial Intelligence (AI) will become one of the most valuable technology trends in 2023, with an estimated value of $93 billion, a 12% increase from 2022. This is considered a positive signal for the future development of AI technology.
AI technology is regarded as an advanced and crucial technology that has the ability to accelerate and enhance the performance of other technology trends such as robotics, quantum computing, and IoT. It is widely used in various fields, including manufacturing, healthcare, finance, and many others.
According to a survey conducted by GlobalData in the third quarter of 2022, 57% of respondents believed that AI will deliver on all its promises and bring significant improvements to society and industries. However, there are still many challenges to overcome to achieve sustainable development and continued growth in the AI industry.
The Metaverse is a sophisticated virtual world system that allows users to interact and share real-time experiences. It is projected that by 2024, investments in the Metaverse could reach up to $800 billion, making it a new technology trend that attracts significant investor interest. Meta, formerly known as Facebook, has invested billions of dollars in developing this system and believes it will be a crucial direction for the future, opening up new opportunities for the entertainment and business industries.
According to GlobalData’s forecast, the global cloud computing technology trend is expected to reach a value of $734 billion by the end of 2023, a 15% increase compared to the previous year. Playing a significant role in business operations, cloud computing, along with artificial intelligence, will continue to hold a crucial position and serve as the main driving force for the development of emerging technology trends such as robotics and IoT, which rely heavily on continuous data usage.
The global cybersecurity market is continuing to grow, with a projected compound annual growth rate (CAGR) of 9.5%, reaching a value of $198 billion by 2025 compared to $125.5 billion in 2020, as stated in the GlobalData report. However, 2023 is forecasted to be a challenging year with an increase in cyber-attacks from criminal activities, while the reliance on cybersecurity experts is also growing. This poses challenges for businesses in finding highly skilled professionals in the field of cybersecurity.
However, 2023 is also predicted to witness a significant increase in the use of artificial intelligence (AI) in cybersecurity. AI technologies can be utilized to prevent cyber-attacks and provide more precise recommendations for affected parties. This highlights AI’s importance as a critical tool in protecting enterprise cybersecurity systems.
Blockchain and Cryptocurrency
The FTX incident in November 2022 led to a challenging year for the cryptocurrency industry, valued at $840 billion, causing global disruption to the financial system. However, this issue also creates opportunities for significant progress in the U.S. regulatory framework for cryptocurrencies in 2023, helping the country catch up with the EU market in terms of cryptocurrency asset regulations.
In 2023, regulations in the cryptocurrency industry will focus on protecting customers’ funds by requiring them to report documentation on reserves and segregated assets. The final regulations on cryptocurrency assets have been implemented, ensuring the growth of the cryptocurrency market and the increasing enforcement of regulatory standards.
Internet of Things (IoT)
According to the latest report from GlobalData, the enterprise Internet of Things (IoT) technology trend is expected to reach a significant growth value of $650 billion by 2023. Smart cities will account for around $315 billion of that value, while industrial IoT will contribute $335 billion. Despite the current economic challenges, the enterprise IoT market is expected to continue its robust development in 2023.
However, businesses will need to evaluate the investment costs of IoT devices reasonably to ensure they deliver the maximum return on investment.
According to GlobalData’s research, the robotics technology trend was valued at $45.3 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 29% to reach $568 billion by 2030. Increasing inflation and supply chain disruptions are factors driving the automation revolution, leading to the continuous advancement of the robotics industry.
Service Robotics market is forecasted to grow with revenues reaching $55.2 billion by 2023. Meanwhile, the global unmanned aerial vehicle (UAV) market is projected to reach $24.5 billion at the same time, thanks to regulations, advancements in technologies like AI, and the increasing adoption of non-line-of-sight operations.
However, the industry will face challenges including rising energy costs and supply chain fragility as production targets start to increase.
GlobalData predicts that the quantum computing technology trend will become a $5 billion industry by 2025. According to experts at GlobalData, quantum computing will begin to be applied in commercial fields by 2027, as technology standards gradually take shape and quantum computing technology experiences significant development from 2023 onwards.
However, with significant investment costs, many companies that cannot afford to purchase quantum computers will have to rely on Quantum-as-a-Service (QaaS) models being developed to access this technology.
Read more about the latest technology trends in 2023 here!