However, as the challenges for organizations and businesses get harder, technology often finds itself working around the clock to support them; the scope just doesn’t seem enough.
The answer however to this problem is quite simple. The technology has to be upgraded or updated consistently. The key to its success is the right technology backed by a higher level of performance and achievement.
There are some fields right now which have been on the rise and have started to and will very soon dominate the jobs market. It is essential for the students or even working professionals to find the right path that leads them to success with respect to how and what they learn.
It can be very beneficial for them to make the right decisions on what course they take, as in the long run, they can prove to be extremely productive and desirable for their careers.
The coming year has some foreseen, as well as unexpected trends in terms of work and industry domains which are on the rise and judging by the curve, are on an exponential growth spree.
From making mundane jobs obsolete and automating processes that previously required human intervention, smart homes and smart cities that are no longer just future achievements or dreams and with implementations through the use of Internet of Things (IoT). Technology has already infiltrated into the social fabric.
It is very difficult to keep up the pace to catch up with these trends and one must ensure that they are advancing in the right direction especially the IT professionals as these trends evolve fast.
So today we have compiled a list of some of the technologies that are destined for heavy growth in the upcoming decade.
1. Artificial Intelligence (AI)
AI is the new buzzword these days and almost everyone has heard of it or even used it in some form or another.
AI as an industry is poised to become a US$190.6 billion with a predicted CAGR of over 36% per annum. The influence of AI has infiltrated into the fields of automated software, drone technology, robotics among many others.
From cameras, social media, OTT platforms, etc. the applications of this technology are immense and there is a huge scope in the future that these technologies might even take over human’s day to day lives making it much easier for them.
One of the biggest users of AI is the online advertising industry. It helps analyze huge amounts of data individually for people and targets them with specific ads that are catered to their wants and needs. AI is definitely altering our lives and to be the ability to develop such technology is quite a feat.
The gaming industry is another field that requires the usage of motion-based AI and conversational networks that allow machines to propagate conversation within the game and also for motion-based AI design.
DevOps is a strategy to develop software in such a way that it helps bridge the gap between development and operations in an organization. It provides for seamless delivery of software and rapid and timely updates.
DevOps is destined to be the third highest-growing field in the market with a CAGR of 24.7% from US$3.42 billion in 2018 to US$10.31 billion by 2023.
DevOps is the new-age concept where work is done on the production, development, and deployment of specialized proprietary software suites. This software is fast, efficient, and resilient as well.
Each software needs little tweaks and bug fixes and DevOps helps in the same. And to successfully understand it one needs to learn and study in scripting languages, infrastructure codes, etc.
Many companies have specialized in the concept of DevOps and its principles and are employing the same, do you know Amazon’s AWS platform is so enhanced that the DevOps Lifecycle ranging from code creation to final deployment of software can be done within 11.6 seconds!
Quite recently there was news of huge data breaches, ransomware, etc. and it negatively questioned the reliability and competence of the tech industry. The Global Data Protection Regulations had to be revamped to avoid such breaches.
After all this chaos there was a boost in the demand for cybersecurity personnel who could cope with these changes and navigate the company away from any compliance issue or even cyber-attacks.
Regardless of such events in future, cybersecurity as a field will always be booming as the people who work on it are always kept on their toes to constantly update themselves towards newer norms and creative ways to overcome any such mishaps and intrusions in the future which are only to get bigger and more sinister and shrouded.
According to Forbes, enterprises are predicted to spend around US$12.6 billion on cloud security tools by 2023, up from US$5.6 billion in 2018.
As per a reputed analytics firm, Cybersecurity is going to employ close to 6 million people by the end of 2022.
The spending on software Infrastructure protection is forecasted to increase from US$18.3 billion in 2020 to US$24.6 billion in 2023, attaining an annual CAGR of 7.68%.
It is essentially an application of AI. A fun fact about data-it is expected by 2025 the world will create about 4.63 trillion gigabytes of data per day. That’s right - 4.64 trillion per day!
Machine learning provides systems with the ability to learn and improve form analysis and experience without the need to be explicitly programmed to do so. It essentially enables the development of computer programs in a way that allows them to access data and use it to learn for themselves. It does in synergy with fields like Data Science which makes it capable for the machines to compute and analyze mountains of data and provide fast and efficient insights for an individual or group.
According to GlobeNewswire, Machine Learning as an industry was valued roughly around US$1.58 billion in 2017. With a CAGR of 44.96%, the industry’s market value is expected to be approximately US$20.83 billion in 2024.
It is a very common statement to hear nowadays but this is a prominent one, “The first 10 years of the century were the ‘Internet of People’, the next 10 are going to be the time of ‘Internet of Things’”.
Yes, we have moved on from the times when the internet brought humans all over the globe on to a single connected mainframe that contained information and access to almost everything under the sun. Now it is the time of getting devices connected with each other to affect their behaviour where even the smallest components have a great deal of influence.
As it suggests each and everything is connected to a network, any electronic component such as sensors, meters, smart vehicles, smart appliances, etc are all programmed to the network and can induce changes in state and working among each other, and the best part is that they can do this autonomously without the need for human intervention.
IoT in the general sense represents the ability of a network to sense and collect data from connected devices and allows for lifestyle improvements by collecting, analyzing, and suggesting lifestyle Improvements.
The market for IoT is massive as it has innumerable applications in all domains. IoT as an industry was valued at US$190 billion in 2018 and is projected to reach around US$1,102.6 billion (US$1.1 trillion) by 2026 with a CAGR of 24.7%.
By now you would’ve realized how much influence these domains are going to wield in the future. They are destined to put a dent in the universe with far-reaching capabilities and unbridled scope for development. Despite so much mentions and exposure, we are only at the start of what we can achieve with these emerging technologies.
In case you also want to become the face of the cyber age it is imperative that you master at least one of these domains. If you have any doubts as to where to begin, why look anywhere else but right here at Verzeo.
Verzeo Edutech provides thoughtfully designed training programs to help people with the desire for learning to equip themselves with both theoretical and practical knowledge of new-age technologies as part of our “Industry 4.0” vision. But don’t just take our word for it.
You can know more about us right here on our website and you can also follow us on social media channels as well. Feel free to also check out our Youtube channel featuring webinar sessions as part of the diverse learning content we have on offer to stay updated on the latest trending technologies and developments which form part of our teaching content and curriculum.