IT professionals or students are always keen to know the upcoming trends to keep themselves up to date. Let’s see the Top 5 Emerging IT trends that will rule 2020 and 2021.
IoT (Internet of Things)
Ever since human dependence on internet increased, the field Internet of Things has been the talk of the town. The demand for this field became exponential over the last couple of years and is considered the next big thing in the field of home automation technology. The Internet of Things is the attempt for the physical world to perfectly gel onto the digital world leveraging the Internet.
We have already been exposed to some of the efficient IoT systems like Google Home by Google and Alexa by Amazon. We also begun to acquire a space in most of the homes across the globe and the demand for these is surging significantly.
How it’s affecting industries?: The IoT is game changer in the way we do business but also the business models we use to do it. According to Gartner’s report, the global market value of IoT is projected to pass the one trillion U.S. dollars mark for the first time by 2017, a significant increase, considering the market was valued at around 600 billion U.S. dollars in 2014. The number of connected devices worldwide is projected to increase from around 18 billion in 2015 to 50 billion by 2020. The installed base of IoT devices is expected to jump from about five billion in 2015 to nearly 31 billion units by 2020.
Artificial Intelligence (A.I)
AI has always been a fascinating concept and disruptive technology right from the day it was introduced. AI refers to a computer that can actually think for itself by analyzing data and tracking repeating patterns without being explicitly programmed by humans to do so. It is basically replication of the human behavior and cognitive intelligence.
How big is AI?: AI has its own The benefits and precision results underpinned by AI have made the organisations to leverage this technology for delivering better consumer activities. Companies like Amazon, Microsoft, and Google have deeply invested in integrating and promoting artificial intelligence capabilities. AI is reshaping the way businesses interact with their customers in a big way by helping them anticipate and meet customer needs more easily with better precision.In 2020, the global AI software market is expected to grow approximately 154 percent year-on-year, reaching a forecast size of 22.6 billion U.S. dollars.
Formerly referred as Cloud computing, has been mainstream emerging technology across the years and continues to be so, with major players like Amazon Web Services, Microsoft Azure and Google Cloud which are top 3 companies standing tall dominating the rest of the market in this field. Cloud computing can be stated as the on-demand availability of computer system resources, be it data storage or computing power or both, without active management by the user.
As the quantity of data we’re dealing with continues to increase multi-fold, we’ve realised the shortcomings of cloud computing in some situations. Edge computing is designed to help solve some of those problems as a way to bypass the latency caused by cloud computing and getting data to a data centre for processing. For this reason, edge computing can be used to process time-sensitive data in remote locations with limited or no connectivity to a centralised location. In those situations, edge computing can act like mini data centres.
What’s it impact? Edge computing will increase as the use of the Internet of Things (IoT) devices surge many a times. By 2022, the global edge computing market is expected to reach $6.72 billion. As with any growing market, this will create various jobs, primarily for software engineers.
Extended Reality is growing; there’s no doubt about that. Extended Reality (XR) is the umbrella term used for VR, AR, and MR, as well as all future realities such technology might bring. XR covers the full spectrum of real and virtual environments.
The use of an umbrella term speaks to the future of XR as a fundamental shift in the way people interact with media. In the future, instead of saying “I’m using AR to attend a business meeting” — it will just be another day at the office. People will interact with the real and virtual worlds in seamless ways, without mention of extended reality’s distinct categories and their underpinning technology.
Virtual Reality (VR) immerses the user in an environment while Augment Reality (AR) enhances their environment. Mixed Reality (MR) lies somewhere in between VR and AR. It blends real and virtual worlds to create complex environments where physical and digital elements can interact in real time. Although VR has primarily been used for gaming thus far, it has also been used for training, as with VirtualShip, a simulation software used to train U.S. Navy, Army and Coast Guard ship captains.
What rate does Extended Reality emerge? The popular Pokemon Go is an example of AR. Here are major players in the VR market, like Google, Samsung, and Oculus, but plenty of startups are forming and they will be hiring, and the demand for professionals with VR and AR skills will only increase. The market for XR technology is growing, with projections for 2023 valuing it at over 18 billion U.S. dollars.
Robotic Process Automation (RPA)
Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do. These are not just the menial tasks of a low-paid worker: up to 45 percent of the activities we do can be automated, including the work of financial managers, doctors, and CEO’s.
What’s the big picture? Although Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers or approximately 9 percent of the global workforce, RPA is also creating new jobs while altering existing jobs. McKinsey finds that less than 5 percent of occupations can be totally automated, but about 60 percent can be partially automated. The global robotic process automation (RPA) market size was USD 1.39 billion in 2018 and is projected to reach USD 2.9 billion by 2020, exhibiting a 200% growth during the forecast period.
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