The world around us is quickly changing and one of the drivers of its transformations is technological progress.
Big organizations, mid-sized companies, and young startups all over the world are actively working on the introduction of new solutions that can help to facilitate various tasks for businesses and individuals.
It is interesting to mention that global IT spending, which includes investments in communication services, enterprise software, devices, and data centers, is around $4.7 trillion in 2023. In 2024, this figure is expected to hit the level of over $5 trillion.
Let’s have a look at the technologies that have the strongest impact on the market now and are forecasted to keep their positions in 2024.
Article Contents
The Internet of Things
IoT has won the status of one of the most appealing technologies for businesses that are interested in automating their processes, executing remote monitoring, and organizing efficient gathering and processing of their data.
Even if you are not sure how this technology can help your business, you can start by turning to IoT consulting services.
Seasoned experts who deeply understand the potential of IoT will closely study your business’s needs and the peculiarities of your activities and will offer you the best solution and approach to IoT implementation.
Already today IoT systems are highly demanded in such industries as manufacturing, logistics, healthcare, sports, retail, and many others.
The benefits of using such solutions for each of them fully reflect the peculiarities of their processes and activities.
While for some industries, IoT-powered asset management plays a crucial role, IoT projects for healthcare organizations are mainly focused on delivering solutions for remote continuous monitoring that allow medical staff to react timely to any critical changes in patients’ states.
At the same time, if we consider the logistics and transportation industry as the next example, we will see that here, the Internet of Things in combination with GPS tools plays a vital role in providing the required visibility of the delivery process.
Thanks to having access to the most relevant data regarding road conditions, locations of vehicles, and other factors, IoT systems can accurately predict the time of delivery as well as optimize routes in real time.
Artificial Intelligence
Speaking of technologies today, it is absolutely impossible to omit such an important point as AI.
The introduction of ChatGPT in November 2022 seems to have changed the world forever.
Of course, this AI chatbot wasn’t the first solution of this kind in the market. However, its presentation has become a booster for the growing popularity of such solutions.
It is too early to say that these chatbots that are available today, generative AI models, or virtual assistants can fully replace people at their workplaces.
Nevertheless, it is already a good time to say that AI can become an excellent supportive tool for many professionals from sales managers to teachers, designers, and developers.
Artificial Intelligence in general and Machine Learning (ML) in particular are known for their capability to evolve and “learn” on their own.
They get information from the interaction with users, study their reactions, and detect patterns in their behavior. Thanks to this, their performance is improving over time.
It is important to understand that AI is not only about language models or apps that can create images and videos based on your requests.
AI can also make a huge contribution to providing advanced analytics, making predictions, smart planning, process optimization, etc.
A good example of technology symbiosis is predictive maintenance solutions that are powered by IoT and AI.
While IoT sensors collect data on the tech state and functioning of vehicles, machinery, and equipment, AI is responsible for analyzing the received data and making predictions on possible tech issues based on ongoing parameters.
Cloud Computing
Though cloud apps are not considered to be the latest innovation, they still determine the tech landscape.
More and more businesses every year make decisions regarding the necessity to migrate their solutions to cloud platforms from on-premises environments. And it is obvious that this tendency will continue.
Moreover, we can also define a sub-trend related to cloud solutions. That’s the introduction of vertical and micro SaaS products.
Such solutions allow businesses to fully leverage all the benefits of cloud computing. These apps can be accessed via the internet from any device which eliminates their installation on each of your smartphone, laptop, or PC.
Those vendors who offer vertical and micro SaaS do not try to reach the widest target audience possible.
Vice versa, their solutions are targeted at particular groups. In the case of vertical SaaS, these are particular industries, and micro SaaS products are created for niche markets.
This approach helps to offer apps that deal with specific tasks in the most efficient way.
Conclusion
The global tech landscape is likely to experience a period of active growth and progress in 2024 and beyond.
A lot of businesses heavily invest in the creation of advanced solutions that are expected to change segments, industries, and even the world around us.
It is always inspiring to observe how technologies are being gradually adopted and what results this adoption can bring.
Given all the pre-conditions that we can determine now, 2024 will be an interesting year for the tech market.
