1. Internet of Things (IoT)
The Internet of Things (IoT) is changing the landscape of devices in industry and for consumers. Smart technology is slowly but surely finding its way into many businesses and private homes all around the world.
The efficiency that IoT devices bring to an organization and are also predicted to provide around $177 billion in cost savings.
"IoT and smart devices are already increasing the performance metrics of major US-based factories. They are in the hands of employees, covering routine management issues, and boosting their productivity by 40-60%."
2. Electric Vehicles
Some new exciting models are coming on the market next year with many other manufacturers investing hard into the tech. The next decade should also see a massive increase in the number of EVs on the road.
By 2030 it is estimated that somewhere in the order of 125 million should be on the road. But there are some other interesting trends within the EV market to look out for next year.
Ever better batteries, the continued rollout of charging tech, autonomous driving, solar-powered EVs, electric planes, and better software are all things to look out for in 2021.
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3. Sustainable energy
The energy sector is another interesting market to watch in 2020. The drive for ever more sustainable energy sources and ever better efficiency should see some interesting innovation next year.
The energy mix for many countries should also see sustainable energy receiving a bigger bite of the cherry.
The main things to look out for will be innovations in:-
- Energy storage and better batteries
- AI and sustainable energy
- Blockchain
- Grid parity
- Cybersecurity
- Distributed Energy Resource (DER)
- The political climate
4. Cybersecurity
From personal to corporate online data security, the ever-present threat of cybersecurity threats should fuel this neverending online arms race.
Some of the main threats in cybersecurity that will drive innovation will be:-
- Global balkanization of technology
- Tainted component: Clones and counterfeits
- Cybercrime hits the highway
- Malware takes flight: Drones as an initial network infection vector
- Shattering constellations: The future of satellites for Earth, space, and the internet
- When advanced persistent threats all look alike
- Digital elections interference
- Cyber operations carry an increased risk of conventional military response
- Nation-states poised to interfere in the 2020 Olympics
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5. Product Lifecycle Management (PLM)?
The Global PLM market is expected to increase significantly in the next five to six years from the market size of $18.57 billion in 2018 to over $26.33 billion by 2023. The global PLM market is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2018-2023.
Innovation in digital technologies and smart tech will continue to revolutionize this sector through 2020 and beyond.
6. What about Edge Computing?
Edge computing is mainly concerned with moving processing from the cloud closer to the end-user or end-device. To date this has been driven by several key factors:-
- Latency for time-sensitive applications, such as those within IoT which need real-time responses
- Network and bandwidth. Edge computing can minimize the cost of moving large amounts of data, plus reducing reliance on the network
- Data privacy and security. Edge computing approaches can help organizations comply with data sovereignty laws and make sure intellectual property remains on-premises.