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Top 10 Technology Trends Of 2020 You Need To Get Along
Countries are striving to grow their economies, and businesses their revenue.
Holding the thoughts about nations currently, businesses are the focus of this article.
In the recent past, a few technologies have grown to immense popularity owing to its effectiveness on the ROI (Return On Investment).
Brands are utilizing many such technologies that are going to generate more profits down the road.
Do you know some of them?
If not, I must let you know that in this highly competitive market environment, it has become crucially important to stay updated about the latest happenings around the world.
If your business lacks in certain aspects, it is likely to be outperformed by your competitors.
Have you ever wondered why you have rivals in your businesses?
Perhaps there is always a brand better out there who has implemented effective strategies to increase their customer base.
Brands And Customers
In today’s world having a first-rated brand has become more crucial to attract and engage more customers with your offerings.
Tech implementation plays a key role in achieving this goal.
With the increasing demand from customers, your business should begin to reinvest in trending technologies that have already been adopted by some of the top companies.
The questions arise -
How To Determine The Tech To Invest In?
How do you know which technology is worth investing in? How likely is that to dominate in this year or even in the next?
How will you come to know if it makes more sense to pay attention to the Internet Of Things or Artificial Intelligence? Or, something completely different from these two?
Of course, there are lots of questions to find answers for.
In this piece of content, we have included numbers-rich informative information with a key takeaway to help you have a clear understanding of the top technology trends of 2020.
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With that out of the way, let’s move on to the center of discussion - technology trends of 2020 you need to follow.
10 Best Technology Trends of 2020
1. Artificial Intelligence
There is no difficult answer to this question, but basically, AI or so-called Artificial Intelligence is the theory and development of computer systems that enable the machines or devices to perform tasks generally requiring human intelligence. It includes speech recognition, visual perception, decision-making and so much more.
What Statistics Says?
As the calculation sests, worldwide spending on AI is about to reach $46 billion in 2020 as compared to $35.8 billion in 2019.
Points To Give Attention To
- 84% of businesses say AI will enable them to have the edge over their competitors.
- 75% of companies believe AI will power their next projects.
- 80% of tech leaders predict to have an increase in their productivity and job opportunities with AI.
Takeaway
Technology analysts anticipate the more usage of AI in various industries like Media, Government, Education and many more to address the issues of capital and labor. Not just that, AI will not only boost our productivity but also transform the ways of our growth creation.
2. Augmented Reality And Virtual Reality (AR/VR)
Augmented reality refers to the practice of adding digital elements to live visual experience using the camera of mobile phones. For instance - Snapchat lenses.
Virtual reality is all about a complete immersion experience in the digital world using a three-dimensional image or environment that shuts out the physical world. It enables people to interact with things in a real way using special electronic equipment. For instance, a helmet with a screen inside fitted with a few sensors.
What Statistics Says?
As per an estimation, worldwide spending on augmented reality and virtual reality is expected to reach $18.8 billion in 2020, given that it was $10.5 billion in 2019.
Points To Give Attention To
- By 2020, the worldwide users of AR/VR powered video games is going to be 70 million and 216 million by 2025.
- 32% of the retailers are expecting to add AR/VR in the next three years in order to get their customers improved product experience.
- With 70% of consumers assured of their benefits, AR paired with IoT is going to receive a lot of attention.
Takeaway
Around 50% of customers will possibly make a purchase at retail outlets that offer AR/VR. If you are among 32% of the retailers incorporating AR/VR to your business, there is a higher chance that your sales will grow in the near future.
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3. Progressive Web Apps (PWA)
A progressive web app is a type of application software that utilizes latest technologies to bring together the functionality of web and mobile apps. To put it simply, it is a website developed using latest technologies but works like an app. Users install the web apps on their home screen and get push notifications. The goods news is that it works even offline.
What Statistics Says?
Businesses who used progressive apps have reported higher user engagement & conversion rates and also a reduction in their page load time. Speaking specifically, Trivago’s user engagement increased by 150%, AliExpress’s conversion rate jumped by 104%, and Tinder’s load time decreased by 60%.
Looking at these examples, ROI of businesses is expected to get a boost in 2020 using progressive web apps.
Points To Give Attention To
- The average bounce rate of a PWA is quite lower than a mobile website i.e., 42.86%.
- Mobile sessions on PWAs have increased drastically by nearly 80% on an average.
- Brands using progressive web apps have observed that their page views have risen by around 134%.
Takeaway
In the years to come, progressive web apps will replace 50% of all customer-oriented apps and will have an impact on KPIs (Key Performance Indicators) and ROIs (Return On Investment) in a positive way.
4. Programming Language Trends
Some of the most popular programming languages in 2019 have been JavaScript, Rust, Python, jQuery.
What Statistics Says?
- Most commonly used programming language in 2019 - JavaScript (67.8%).
- Most loved programming language of 2019 - Rust (83.5%).
- Fastest growing PL of 2019 - Python
- Heavily used web framework (2019) - jQuery (48.7%)
Takeaway
Python could either become a leading programming language or be overtaken Java by the end of 2020.
Popular programming languages more so, JavaScript and Java will get the same number of visitors in countries with high income in 2020.
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5. 5G Network
5G is defined as the fifth generation of wireless communication technologies that supports the cellular data network translating into higher internet speeds. Lthe arge-scale adoption of this particular technology was initiated in the year 2019 and today it has become so popular that every telecommunication service provider in the developed countries started upgrading their previous infrastructure.
What Statistics Says?
Worldwide spending on the 5G mobile infrastructure is anticipated to reach $2.3 billion by 2021, which was $0.06 billion in 2019.
Points To Give Attention To
- 7% CSPs (Communication Service Providers) in the world have already upgraded their infrastructure to 5G network.
- The revenue for 5G network infrastructure worldwide is about to reach $4.2 billion in 2020 - a humongous 89% increase from 2019.
- Most likely there will be 340 million 5G connections in 2021 and by 2025 it would become as many as 2.7 billion.
Takeaway
Taking these figures into consideration, software developers can create strategies early on to redefine their business model using 5G network.
6. Business Intelligence (BI)
Business intelligence is a type of study including a set of strategies and technologies used by enterprises to analyse business data. This technology is helpful in providing current, historical and predictive views of business operations.
What Statistics Says?
Expectedly, the global market of business intelligence to reach $29.48 billion by 2022, increasing its mark from $15.64 billion in 2016.
Points To Give Attention To
- By 2020, 90% of bigger enterprises will earn from Data-as-a-service (DAAS).
- By 2020, the employment opportunities for BI will increase up to 2.72 billion openings.
- 64% business leaders say Self Service BI (SSBI) has proven to be beneficial for them and it is capable of replacing other traditional BI tools.
Takeaway
Compared to other apps, BI tools have the potential to generate more revenue and aid in improving the profit margin.
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7. Edge Computing
Edge computing isn’t that technical to understand, but basically, it is a distributed computing paradigm that is focused on improving the response time and saving bandwidth by bringing computation and data storage closer to the requested location.
What Statistics Says?
By 20222, 40% of enterprises will increase their IT asset spending by twice in the edge locations.
Points To Give Attention To
- The edge computing market to grow by at least 50% in the year 2020.
- Edge computing revenues are set to increase to $6.7 billion in 2022 from $2.8 billion in 2019.
- Researchers have expected that more than $700 billion in cumulative CAPEX will be spent on Edge IT infrastructure and data center facilities in the next 10 years.
Takeaway
57% of the people in mobility said they will implement edge computing in the upcoming year. This shows how much it is significant, being an emerging technology in the digital world.
8. Big Data
Big data is a term that describes the large amount of structured and unstructured data which can be analyzed for insights, eventually resulting in better decision making and strategic business actions.
What Statistics Says?
The worldwide revenue through Big Data implementation will slightly increase from $42 billion in 2019 to $49 billion in 2020.
Points To Give Attention To
- 18% growth in revenue is anticipated to occur by the adoption of Big Data in the banking sector.
- 43% of organizations are making changes to their structure to take the advantage of Big Data.
- 2020 will see an increase in job opportunities for data science and analytics up to 2.7 million openings.
Takeaway
Around 79% of company’s executives believe that their position and reputation in the market will be at risk if Big Data won’t be integrated into their business.
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9. Internet of Things (IoT)
Internet of Things is one of the fastest emerging technologies in which different yet interrelated computing devices are connected with each other to transfer data over a network without the need of human intervention.
What Statistics Says?
The worldwide investment in IoT hardware and software to reach from $0.72 trillion in 2019 to $1.1 trillion in 2023.
Points To Give Attention To
- By 2020, the IoT market will grow to 24 billion devices globally.
- By 2021, 80% of retailers will use IoT to customize the experience of store visits.
- By 2021, the spending on smart city technology will reach a mark of $135 billion.
Takeaway
To align IoT with the strategies of your enterprise, experts highly recommend identifying and analyzing the needs of your business first.
10. Blockchain
Blockchain consists of two words - block and chain - in which block refers to digital information and chain refers to public database. It is a technology that describes the storage of digital information in a public database.
What Statistics Says?
By 2022, the worldwide investment in Blockchain solutions will hit a mark of $12.4 billion from $2.3 billion in 2019.
Points To Give Attention To
- In 2020, the global Blockchain revenue will see an increase with the massive growth of approximately $3.9 billion.
- By 2020, 77% of financial organizations will adopt Blockchain technology.
- The banking sector will fetch $1 billion of business value by 2020 using Blockchain-based cryptocurrencies.
Takeaway
Considering the details just discussed, Blockchain will generate considerable revenue for many industries, however, it is yet to be compatible for them due to technical issues such as poor scalability and interoperability.
End Note On Technology Trends Of 2020
Up until this moment, you got to know about top technology trends that will rule in 2020. Since technology advancement has brought many conveniences at our disposal, it’s time to take the advantage as much as possible. Keeping your business updated with new technologies doesn’t only mean to grow your ROI but also have a leg up on your competitors.
Now that you know why it’s important to implement the trending technologies in your business, you must do it right away. In case you face any issue while acquiring more customers, interact with us for effective solutions. SFWPExperts is widely known as the customer-driven Wordpress website design company that caters to clients worldwide. Needless to say, we can help you with modern web design and development, social media management, SEO, PPC, and a lot more.
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Top 10 Technology Trends Of 2020 You Need To Get Along
By mikedavistech
