Tech Booms of the New Decade?
18160
post-template-default,single,single-post,postid-18160,single-format-standard,bridge-core-2.1.3,ajax_fade,page_not_loaded,,qode-title-hidden,qode-theme-ver-20.0,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-5.5.2,vc_responsive,elementor-default

Tech Booms of the New Decade?

First the bad news – you’re already a little late to the party if you wanted to get in on the ground floor with the tech featured in this chart. Artificial intelligence, Internet of Things (IoT) and electric mobility are hardly insider tips any more, but looking ahead to the next decade, these tech teenagers are set for massive growth spurts, projected to really find their stride.

IDC forecasts have global annual AI revenue growing to $98.4 billion by 2023, representing a CAGR of 28.5 percent from 2019 to 2023. The future of electric vehicles also seems very safe going into the twenties. BloombergNEF predicts there will be 10 million sold in 2025. By 2030, even this healthy figure is set to look like peanuts with a projection of 28 million.

Elsewhere, the number of things connected to the internet is due to more than double from 2018 to 2030. Strategy Analytics projects 50 million devices will have joined the growing IoT population. Speaking of the internet, the global rollout of 5G is set to be one of the largest tech projects of the new decade. In 2020, Ericsson says 1.1 percent of smartphones will have a 5G mobile subscription and by 2025 this will have shot up to 30.1 percent.

Portions of the above content have been reprinted with permission.
Copyright © 2018 RSW Publishing. All rights reserved.
Distributed by Financial Media Exchange