The world of technology is constantly evolving, and every year brings with it new and exciting emerging trends. 2023 is no exception, and the emerging technology trends this year are set to be truly transformative, helping us to build a better future.
The COVID-19 pandemic has been a catalyst for digital transformation, and as a result, businesses have shifted towards digital realms. This has paved the way for exciting new emerging technologies that can truly make a difference in the world.
Let’s take a closer look at the five emerging trends in the tech industry that are set to make a big impact in 2023:
- Green Tech
Sustainability is more important than ever, and businesses are starting to take it seriously. One of the biggest common elements in new technology this year will be sustainability, as businesses strive to make a positive impact on the planet.
The Green Technology and Sustainability market is expected to reach $51.01 billion by 2029, with a compound annual growth rate of 20.6%. Green computing, green printing, and green data centers are likely to become the norm very soon.
- Metaverse
The Metaverse has been a buzzword for a long time, but only now are we starting to see its real-world potential. Technologies like virtual and augmented reality are set to transform industry-specific as well as everyday real-world applications. The lines between virtual and physical worlds will begin to blur as innovation accelerates in the coming years.
- Embedded Finance
Embedded finance is the integration of banking services into third-party apps that are often not banking-related. With a current market value of $54.3 billion, the embedded finance market is expected to reach $248.4 billion by 2032. Advancements in Application Programming Interfaces (APIs) provide banks and businesses with unlimited potential to be interconnected and symbiotic.
- Superapps
Superapps are applications that help the user with a main set of services and also a series of sub-services that are easily accessed via mini-apps. These mini-apps can be accessed from the superapp itself instead of an app store. Superapps can transform the stories of businesses, their consumers, and also various third-party innovators who can integrate their mini-apps into a parent application.
- Industry Cloud Platforms
Industry cloud platforms are an amalgamation of cloud technologies that are configured to suit the common needs of a particular industry. Gartner reports that by 2027, businesses will leverage industry cloud platforms for more than half of their critical business. Cloud-based infrastructure provides businesses with seamless connectivity and low latency. Organizations also benefit from cost-saving, sustainable, and efficient solutions that suit the needs of the modern era.
Takeaway
As we move further into the year 2023, the tech industry is poised to take a giant leap forward, thanks to the emergence of several trends that are set to reshape the landscape of technology as we know it. These transformative trends have the potential to redefine the way we interact with technology, unlocking new possibilities and opportunities that were previously unthinkable.
One of the most prominent trends is the growing focus on sustainability, as more and more businesses recognize the need to adopt eco-friendly practices and reduce their carbon footprint. This shift towards sustainability is not only a moral imperative but also a competitive advantage, as consumers are increasingly prioritizing environmentally conscious companies.
Another trend that is gaining momentum is embedded finance, which refers to the integration of financial services into non-financial products and services. This trend has the potential to revolutionize the way we manage our finances, making it easier and more convenient to access financial services from a variety of sources.
The rise of superapps is yet another trend that is set to transform the tech industry, as more and more companies look to create all-in-one platforms that offer a wide range of services and functionalities. These superapps are designed to provide users with a seamless and integrated experience, allowing them to complete tasks and access information without having to switch between different apps.
Last but not least, the industry cloud platform trend is quickly gaining traction as businesses look to optimize their operations by leveraging cloud-based platforms tailored to their specific industry. These platforms offer a range of benefits, including increased scalability, improved collaboration, and enhanced security, making them an attractive option for businesses of all sizes.
As we look ahead to the future of technology, it’s clear that these emerging trends will play a pivotal role in shaping the industry for years to come. To remain competitive and relevant, it’s essential for businesses to embrace these trends and stay ahead of the curve. By doing so, they can unlock new opportunities, improve their operations, and better serve their customers in a rapidly evolving technological landscape.