By monitoring licensing activities, the launch of new start-ups, technological advances, academic investments, grants and venture capital financing, the Deloitte report has identified the sectors that, among all, seem to have the greatest potential in a future perspective.
Technologies in each of these categories aim to solve the fundamental challenges and constraints of business management as well as quality of life. The prediction is that these six emerging technology disciplines may juxtapose the advancement of IT in their impact on business innovation.
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Decentralized architectures and ecosystems.Blockchain-based ecosystems are becoming fundamental not only for the development and monetization of digital assets, but also for the creation of a solid Digital Trust. As organizations begin to understand the utility of blockchain, they are realizing that building stakeholder trust could be one of its key benefits. Digital natives are increasingly likely to require higher quality evidence and higher order truths. Digital accounting technologies and decentralized business models that achieve consensus through code, cryptography and technological protocols are proving that none of us individually are as trustworthy as “all of us” combined. Decentralized architectures and ecosystems, therefore,
The modernization of the mainframe system.Rather than repairing and replacing core legacy systems, companies are looking to bring them into the modern age by connecting and extending them to emerging technologies. Indeed, through increasingly proven approaches to modernization, companies are leveraging valuable databases to promote their digital transformation. Thanks to new technologies, mainframe management could see a marked improvement in the years to come. In fact, nearly 70 percent of technology-savvy business executives expect database management and processing performance to increase significantly in the coming years, making mainframe systems ever more amenable to future, ever-increasing workloads.
Given the importance of these technology domains (adjacent to IT) for granted, continuing to focus solely on IT would mean ignoring a broad spectrum of potentially game-changing business applications in the next technology horizon. Therefore, it becomes necessary to follow all the possible paths that lead to a continuous progress of technology in the business environment, which will inevitably be reflected in every other area of human life.
What industries in tech are the most profitable?
The answer to this question depends on the type of company, the type of business model, and the stage of development. Businesses in different industries use technology in different ways, and this will greatly affect the profitability of a venture. Some industries are more profitable than others as they have used technology to improve efficiency or solve a significant pain point. Industries such as healthcare and insurance have been among the most profitable in tech because they have been able to create value by solving problems through the use of technology. Other industries, such as social media and adtech, have been less profitable due to a lack of a clear value proposition.
Insights from tech industry leaders
Cloud-based technologies – Cloud-based technologies have become indispensable tools that provide scalability and flexibility, which makes them the most profitable industry in tech. Cloud-based technology allows organizations to scale as needed, which benefits businesses across industries. Cloud infrastructure also boasts flexibility and ease of use, making it simple for businesses to incorporate technology into day-to-day operations. Cloud computing is projected to generate more than $248 billion in revenue by 2022, which demonstrates its continued popularity in the tech industry. Cybersecurity – Cybersecurity has been a critical technology for protecting businesses from online threats. As cyberattacks have grown increasingly sophisticated, cybersecurity has become a high priority for businesses of all industries. While cybersecurity can be a lucrative industry, it’s imperative to have a clear understanding of the threats businesses face. Understanding industry trends and customer needs enables cybersecurity companies to properly prioritize threats. This insight has made cybersecurity an extremely profitable industry in tech. Artificial Intelligence and Machine Learning – AI and machine learning have become critical technologies that enable businesses to make smarter and more informed decisions. Businesses across industries are using these technologies to improve efficiency, cut costs, and create better customer experiences. AI and machine learning have become essential tools for the finance, healthcare, and retail industries, among others. AI and machine learning are projected to generate an incredible $59.88 billion in 2022, which demonstrates their massive potential and profitability. Internet of Things (IoT) – The Internet of Things (IoT) refers to a network that enables devices to communicate with one another. IoT technology is critical for businesses that rely on connected devices, such as supply chains. IoT technology enables businesses to improve efficiency and customer experiences, which has made it a highly profitable industry. IoT technology has the potential to generate $19 trillion by 2030, demonstrating its incredible potential. Blockchain – Blockchain technology is a distributed ledger that enables transparency, trust, and security in a wide range of industries.
The technology is most commonly associated with cryptocurrencies like Bitcoin and Ethereum. Blockchain was initially developed as a means of recording transactions in a digital system. While it’s widely known as the technology behind cryptocurrencies, blockchain is also applicable in a wide range of industries. Blockchain technology is expected to generate $34 billion in revenue by 2022, which demonstrates its massive potential and profitability. Augmented Reality and Virtual Reality – Augmented and virtual reality have become essential tools in a wide range of industries. From enhancing marketing efforts to improving the customer experience, business leaders are using these technologies to create value. Augmented Reality and Virtual Reality have become critical tools in the marketing industry, enabling brands to engage customers through immersive experiences. These technologies have also become essential for education and healthcare, where they are used to visualize complex data and improve learning outcomes. Augmented and virtual reality are expected to generate $60.89 billion in revenue by 2022, making them an extremely profitable industry.
The tech industry is constantly growing, evolving, and changing. New technologies emerge and others become obsolete, which means that the most profitable industries in tech are always changing. It’s important to keep up with industry trends to identify emerging technologies and determine how they can be applied to solve real-world problems. It’s also important to evaluate which technologies are likely to remain profitable for the long term. Technologies that solve real-world problems and provide value are more likely to remain profitable for years to come.