Despite geopolitical turmoil and economic uncertainty in 2023, technology investment continues to grow significantly. To this end, relevant research institutions have analyzed technology investment trends worthy of attention in 2024, and printing, packaging and related companies can also learn from this.
Artificial Intelligence (AI)
Artificial Intelligence (AI) is the most talked about technology investment trend in 2023 and will continue to attract investment in the coming year. Research firm GlobalData estimates that the total value of the artificial intelligence market will reach $908.7 billion by 2030. In particular, the rapid adoption of generative artificial intelligence (GenAI) will continue and impact every industry throughout 2023. According to GlobalData's Topic Intelligence 2024 TMT Forecast, the GenAI market will grow from US$1.8 billion in 2022 to US$33 billion by 2027, which represents a compound annual growth rate (CAGR) of 80% during this period. Among the five advanced artificial intelligence technologies, GlobalData believes that GenAI will grow the fastest and will account for 10.2% of the entire artificial intelligence market by 2027.
Cloud Computing
According to GlobalData, the value of the cloud computing market will reach US$1.4 trillion by 2027, with a compound annual growth rate of 17% from 2022 to 2027. Software as a service will continue to dominate, accounting for 63% of cloud services revenue by 2023. Platform as a service will be the fastest growing cloud service, with a compound annual growth rate of 21% between 2022 and 2027. Enterprises will continue to outsource IT infrastructure to the cloud to reduce costs and increase agility. In addition to its increasing importance to business operations, cloud computing will, along with artificial intelligence, be an important enabler of emerging technologies such as robotics and the Internet of Things, which require continuous access to large amounts of data.
Cyber Security
According to GlobalData’s predictions, in the context of the widening network skills gap and cyber attacks becoming more and more sophisticated, chief information security officers around the world will face extreme pressure in the next year. The ransomware business model has grown exponentially over the past decade and is expected to cost businesses more than $100 trillion by 2025, up from $3 trillion in 2015, according to the European Union's cybersecurity agency. Addressing this challenge requires increased investment, and GlobalData predicts that global cybersecurity revenue will reach $344 billion by 2030.
Robot
Artificial intelligence and cloud computing are both promoting the development and application of the robotics industry. According to GlobalData's forecast, the global robot market will be worth US$63 billion in 2022 and will reach US$218 billion at a compound annual growth rate of 17% by 2030. According to research firm GlobalData, the service robot market will reach $67.1 billion by 2024, a 28% increase from 2023, and will be the largest factor driving the growth of robotics in 2024. The drone market will play a key role, with commercial drone deliveries becoming more common in 2024. However, GlobalData expects the exoskeleton market to have the highest growth rate, followed by logistics. An exoskeleton is a wearable mobile machine that enhances strength and endurance for limb movement. The main use cases are healthcare, defense and manufacturing.
Enterprise Internet of Things (IOT)
According to GlobalData, the global enterprise IoT market will generate $1.2 trillion in revenue by 2027. The enterprise IoT market consists of two key segments: industrial Internet and smart cities. According to GlobalData's forecast, the industrial Internet market will grow at a compound annual growth rate of 15.1%, from US$374 billion in 2022 to US$756 billion in 2027. Smart cities refer to urban areas that use connected sensors to improve the quality and performance of city services such as energy, transportation and utilities. The smart city market is expected to grow from US$234 billion in 2022 to US$470 billion in 2027, with a compound annual growth rate of 15%.
Post time: Jan-31-2024
