Top 20 Emerging Technologies in the Next 5-10 Years
The rapid pace of technological advancements continues to shape our world, and the next 5-10 years are poised to witness groundbreaking developments across various domains.
From artificial intelligence to genomics, these emerging technologies are set to redefine the way we live, work, and interact.
Let’s explore the top 20 technologies that are expected to play a pivotal role in shaping the future.
Artificial Intelligence
According to the Emerging Technology Community CompTIA, Artificial Intelligence (AI) is the most demanded technology among various industries around the globe.
The most popular AI use cases are big data analysis, implementation of cloud-based apps and services, and intelligent virtual assistants.
Moreover, AI development services are also implemented to enhance other systems like the Internet of Things (IoT) for supply chain management or voice recognition for running voice virtual assistants.
According to a report by Statista, the global AI market is expected to reach $511.33 billion by 2027, which showcases the widespread adoption and investment in AI technologies.
Internet of Things (IoT)
IoT is a system of sensors and devices that gather data and provide its analysis in real-time.
IoT solutions are commonly applied in various areas of life, such as smart homes that connect household appliances to the Internet for real-time data representation.
It’s also used in wearable devices to quickly gather health data from patients, and in smart supply chains to track goods from production to stores, offering detailed information on manufacturing.
The list of IoT use cases is quite extensive and is constantly enlarged. In fact, by 2030, it is estimated that there will be over 29 billion connected IoT devices globally, as per data from IoT analytics, illustrating the exponential growth of IoT.
5G Technology
5G technology has attracted much attention in 2020. Since then, a large number of countries have quickly started developing the infrastructure to adopt this modern technology.
5G promises a better cellular network and faster Internet connection with the ability to support a bigger number of mobile devices.
Moreover, 5G is expected to give a strong push to the development of IoT, such as autonomous cars and smart cities. It’ll improve cities’ efficiency, and more driverless vehicles will appear on the roads.
The global 5G market is projected to reach $797 billion by 2030, according to a study by Allied Market Research, showcasing the immense economic impact of this technology.
Practical Blockchain
We’re used to associating blockchain mainly with financial transactions. However, with full stack blockchain development services, you can get solutions that go far beyond cryptocurrency exchange.
For example, blockchain can be used for sharing medical data, voting systems, personal identity security, anti-money laundering systems, and much more.
On top of that, blockchain is an effective system for data security. With its smart contracts, it eliminates the necessity to refer to third parties for consummating business deals. As a result, it saves businesses time and money and ensures secure money and private document transfers.
Interestingly, the blockchain market is predicted to grow at a CAGR of 67.3% from 2021 to 2028, according to Grand View Research, indicating its increasing adoption across industries.
Autonomous Things (AuT)
Autonomous Things, also known as the Internet of Autonomous Things (IoAT), is one of the freshest technology trends that has Machine learning (ML), AI, and Robotic process automation (RPA) at its core.
This technology enables robots to analyze, measure, monitor the acquired data, and make their own decisions. Therefore, these devices will be able to work freely without human supervision.
As per a report by Allied Market Research, the autonomous vehicle market is expected to reach $556.67 billion by 2026.
Quantum Computing
Quantum computing is designed to perform more efficient data calculations using qubits than a classic computer that uses set values.
IBM Quantum System One, for example, can perform certain calculations 100 million times faster than conventional computers, as reported by IBM.
Quantum Computing grows quickly. There appear to be lots of startups that work on the design of quantum chips and software based on the technology.
Distributed Cloud
Developing cloud applications brings numerous advantages, and many businesses are moving to the cloud.
A new trend in cloud computing is moving to a distributed cloud, which allows smaller clouds to store, compute, and interconnect data in micro-clouds within a single data network.
So that businesses can use the data centers that have several locations. This decentralization helps to resolve technical issues such as data delivery latency, better bandwidth, minimizing the risk of data loss, improved data security, and others.
The distributed cloud market is anticipated to grow at a CAGR of 24.8% from 2021 to 2028, according to a study by Grand View Research, highlighting its increasing importance in the IT landscape.
Edge Computing
Edge computing is another disruptive technology that can help businesses maximize their efficiency. This technology allows the processing of sensitive and time-dependent data close to the location of the data sources.