Let’s briefly look at ample of jargons, terms, techniques, processes, scenarios, use-cases which would lead the technology transformation, at varying levels and pace in the next couple of years.
- Enhancing the Extended Reality (XR) experience using Metaverse & Web 3 platform – Timing seems nearly perfect to fast-develop and advance the use of technology based on AR (augmented reality), VR (virtual reality), MR (Mixed Reality) all which are components of XR (Cross or Extended Reality), by enhancing them with adoption of Metaverse technology platform. This would create demand for new range of devices (smart glasses, more wearables), new technologies as well as use-cases.
- WAWT expects development of a new product category partially substituting and mediating between the use of a smartphone and a smartwatch, in form of a XR glasses (Cross or Extended Reality using mobile computing platform). The content market related to this segment is also expected to witness rapid growth and transformation.
- Introduction of more and more new ‘smart/IoT-enabled’ wearable devices – In addition to the expected growth in adoption of AR/VR/MR and other smart glasses, we will see growth in other existing and new wearable/hearable devices such as smart rings, smart jewellery, smart footwear, smart clothing, smart sports gears, smart patches (medical), smart sleepwear, fitness equipment market.
- Disruption created by blockchain technology will start to speed up influencing and spreading beyond banking and financial sector (e.g., cryptocurrency – bitcoins, NFTs non-fungible tokens) to other distributed applications across multiple verticals such as media, communications, manufacturing, operations, supply-chain, which will further boost adoption and continuous development of ‘Metaverse’ and ‘Web 3’ platforms. This also include development of a virtual market to trade ‘virtual’ assets be it consumer goods, jewellery, art, realty, and other personal products.
- Expected growth in adoption of Artificial Intelligence (AI), Machine Learnings (ML), and Deep Learnings related technologies and applications across wider sectors. ‘Real-time’ data analysis and usage would be key attribute associated with such technologies.
- The integration of AI and Connectivity (and even robotic) technology has already proven to be of great combination, helping to address some key questions and pain-points of businesses, consumers, and wider society.
- New computing technologies – Cloud to Edge to Fog computing is facilitating gradual movement towards serverless/co-location computing which is developing as a new ‘need-based’ trend.
- Fog computing is expected to relieve pressure from the cloud as well as the device (edge), while continuing to enable real-time analysis, reducing operational costs, making our devices more efficient by reducing load on battery and processors, as well as taking care of an important aspect of ‘immediacy’ that is expected from an IoT device, as the processing is done at the local area network (LAN) level.
- Hopefully this should reduce our issues related to battery anxiety.
- Transformation of the age-old ‘automotive’ industry led by electrification of mode of transportation and introduction of ‘e-mobility solutions’ – In coming years, we will see a robust growth in adoption of electric vehicles be it e-cars, e-taxis, e-buses, e-trucks, e-trains, e-bikes, e-scooters, e-mobility vehicles, e-ferries, e-planes, and the like.
- Within this industry sector, WAWT also expects introduction of flying-taxis, flying people/robots (i.e., wingman) applications as well as development and growth of autonomous vehicle (AV) market much faster than earlier expected. This transformation would lead to vast development of EV charging (infrastructure) ecosystem.
- Most of these new emerging electrified application markets are expected to fast adopt wireless charging technology as we have started to see in EV cars, e-trucks, e-buses, e-bikes, e-scooters.
- Rise in adoption of robotic technology in form of robots, drones, AGVs, AMRs, e-forklifts, used across our factories, warehouses, offices, homes, hospitals, delivery, hospitality sector is also expected.
- While we witness more and more robots to replace humans and ‘static/non-smart’ machines partially or completely across some application sectors, the focus for robots would be towards applying artificial intelligence, while humans would be focusing on using emotional intelligence (an important connect).
- Continuous search and development of new battery ‘material’ technology. This would be driven by massive growth in adoption of electrification of automotive industry, and use of more and more power gulping devices, thus needing more energy efficient batteries which charges fast, drains slow, is lighter in weight, smaller in size (can be condensed), less impacts our climate and is environment friendly (more reusable-longer life, easily disposable, more natural, and greener-carbon neutral), also easily source-able (renewable), more sustainable, or using alternative material/technology solution compared to one used currently. This development is also important for industrial, robotics, and consumer applications such a smartphone.
- Review the risk management and accountability policies and strategies adopted by companies. Led by rapid and intense changes in market dynamics, be it related to business, economy, geo-political, regulatory, environment, natural calamities, pandemic, supply-chain, security and data privacy concerns, companies are challenged to review and assign role and responsibilities to their employees with accountability to optimise the risk-addressing capabilities. For example, the key task companies are currently challenged with these days relates to supply-chain management and optimisation, manage issues related to component shortages (chips and others), energy shortages, inventory management, transportation delays (port congestion, container movement), and growing prices (inflation). This is all about being less reliant on one supplier, one country, one region, one economy for undisrupted supplies of goods and workforce.
- GaN gaining ground. Backed by some key benefits associated with use of GaN (Gallium Nitrate), we see wider adoption of GaN-based solutions, be it consumer applications (with its faster adoption in external power adapters), EV charging technologies, power supplies, and other application sectors.
- Living in a truly and totally wireless world. Be it communication, data, or power transfer, we are all set to cut all the possible cords. We expect further enhancement and growth in adoption of existing communication technologies as well as development of new ones (WiFi6, 6G, UWB).
- From power perspective, WAWT expects further advancement of existing wireless power/charging technologies, as well as emergence of new wireless power technology solutions based on either low or high/ultra-high or mixed frequency technology solutions, energy-harvesting, MW or 5G based.
- More specifically, WAWT expects pace in development of the ‘distance’ wireless charging technology segment as well as introduction of new mono as well as hybrid (mixed frequency-based) solutions in existing or new application markets/devices. The wireless power market is only going to get more crowded, interesting, and exciting.
- ‘Tech In Everything (TiE)’ – The use of smart and digital technology has shown greater importance and proven its benefits across industry sectors, be it Fintech, Agritech, Digital Healthcare, Biotech, EdTech, FoodTech, Space Exploration and the like.
- This trend also implies the need for a mindset change – e.g. The automotive industry is set to evolve from being manufacturing-led to being technology-led – from being mechanical to being technological.
- Growth in the ‘Circular Economy’ – This relates more to ‘no-fixed ownership’ of assets such as cars, homes. For example, one does not need to permanently own a car, but share, hire or rent them as and when needed or want to use, thus releasing the spare/ideal time for optimal usage of that asset with a wider prospective user group. This has already started to disrupt the automotive industry.
- Emergence of a ‘Creator Economy’ would create a generational shift in global workforce, driven by aspiring GenZ – The recent COVID pandemic situation has driven the Creator Economy into this new era, fuelled by the upward trend of people (career aspirations of GenZ) trying to monetize their passion/s to make a living. Gone are the days these GenZ are opting for traditional occupation to be a banker, lawyer, engineer, doctor, then to aspire to become a creator in form of a venture capitalist.
- A new ‘digital and hybrid’ consumer who is now working (WFH), studying (SFH), entertaining (OTT platform), playing/gaming (Online), travelling, shopping, and conducting many tasks virtually as well.
- This would be more like burning the candle at both hands – growth trend in e-mobility market on one hand and growth in ‘immobility’ scenario on the other hand.
- Birth of a ‘CDO’ ‘Chief Disruptive Office’ – Above technology transformations would lead to necessarily increase the strength of C-suite board members, by adding another specific key responsibility and position on the company board, by virtue of appointing a CDO ‘Chief Disruptive Office’ to collaboratively work with CEO, CFO, CTO, CHRO, and COO.
- Companies who can learn to integrate and weave their business, community, and consumer engagement around these set of technologies would be a winner – sustainable winning formula.
While the above technology trends would be the talk of town in coming months, its impact would be felt in coming years, at differing levels across relevant industry sectors.
To further discuss the latest market trends and know more please be free to contact or Subject Matter Expert (SME), Dinesh Kithany, Founder & Chief Analyst, Wired & Wireless Technologies at firstname.lastname@example.org or write to us at WAWT.
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