Three technologies — Internet of Everything (IOE), cloud computing / big data and 3-D printing — will transform the world during the next five years, said IHS Technology.
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3-D printing
3-D printing, which encourages design innovation by facilitating the creation of new structures and shapes, speeds up time to market by making the idea-to-prototype cycle much shorter — without additional production costs.
The aggregated 3-D printing market will reach $35 billion by growing by nearly 40 percent annually through 2020 from $5.6 billion in 2014.
Cloud computing / big data
The cloud and big data – supported by data analytics and mobile broadband – will reshape consumer digital lifestyle experience and impact enterprise IT strategies, said IHS.
The cloud is transformational in the business landscape, changing the way enterprises interact with their suppliers, customers and developers.
The big data and data analytics segment will achieve huge efficiencies in performance.
The enterprise IT spending on cloud-based architectures will double to approximately $230 billion in 2017 against about $115 billion in 2012.
Internet of Everything
More than 80 billion Internet-connected devices are projected to be in use in 2024 against less than 20 billion in 2014.
Most of the connected devices today largely require direct human interaction and are used for the consumption of content and entertainment. Majority of 80 billion connections will be employed to monitor and control systems, machines and objects including lights, thermostats, window locks and under-the-hood automotive electronics.
Other transformative technologies are Artificial intelligence, Biometrics, Flexible displays, Sensors, Advanced user interfaces, Graphene and Energy storage and advanced battery technologies.
Baburajan K
editor@infotechlead.com
