Technology Trends That Are Going To Re-shape The Economy In 2021
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Technology Trends That Are Going To Re-Shape The Economy in 2021

Ajay Kumar By Ajay Kumar | June 20, 2019
what are technology trends

Futuristic tech havens. Internet of Behaviors. Machines that will be smarter than human minds. Explore the top technology trends poised to reshape the economy in the year 2021 – and beyond.

Technology is evolving at such a rapid pace that it is enabling changes almost at the speed of light. In the last few years, we have seen noticeable variations and updates in technology, be it eye-catching animation, 360-degree product review, advanced product search, chatbot, etc. While some remained in the market as a driving force for the business, others became a history. 

Not to mention, we believe everyone would agree to the fact that 2020 was quite an eventful year that we never saw coming (well 2021 is getting out of hand). Though the current coronavirus-induced pandemic has confined us within the four walls – lockdowns, social distancing & quarantines – technologies are playing a significant role in keeping the businesses and society as a whole functioning.

According to Deloitte’s 2020 digital media trends survey, “During the crisis, a third of consumers have, for the first time, subscribed to a video gaming service, used a cloud gaming service, or watched esports or a virtual sporting event.

While we stay at home to minimize the risk of infection, the technologies have paved the way to the new normal by providing solutions to keep the regular lives up and about & help society advance.

What Does This Mean for the Businesses?

Last year, remote access technologies became the hottest security tech for the government and its people. For businesses, as well as others, it means staying current with new technology trends gives rise to a better and safer tomorrow. The pandemic has already accelerated the key technology trends while giving birth to new ones. For example, Drone technology has been playing a crucial role in delivering food along with other essentials alongside relief activities.

Since everyone has bowed down to this worldwide pandemic, here are new technology trends for 2021 you should watch and make an attempt at in response to COVID-19 to build a more resilient society and prepare for pandemic & other threats. 

We, at Appventurez, a leading mobile app development company, have researched and used our emerging tech insights platform to identify these top tech trends.

Let’s get started!

1- Artificial Intelligence (AI)

“Chatbots”

“Google Predictive Searches”

“Ridesharing Apps Like Ola and Uber”

All these are the most common examples of AI in action.

While the term Artificial Intelligence may sound bewildering to some, the technology has been up and running for decades. Moreover, you tend to use its applications on a regular basis without even realizing it – connecting with friends, taking ride-share service or using an email program. Take a look at some of the best artificial intelligence Android apps that are ruling (or ruled) the market.

So what is the most interesting trend in technology right now? Well AI is one of the most happening technologies for mankind. Though, not fairly new but it is managing to earn excellent support in the market by its ability to mimic the working of the human brain.

The technology, in the form of Chatbot development and other Self-driving machines, is considered by businesses of all shapes and sizes for facilitating 24×7 communication, escaping from repetitive tasks, streamlining processes and more.

Revenues from the artificial intelligence (AI) software market worldwide from 2018 to 2025 (in billion U.S. dollars)

The enthusiasm and investment in AI technologies and their applications can be predicted from the graph above. The worldwide market revenue for artificial intelligence is forecasted to grow over half a trillion U.S. dollars by 2025. 

Moreover, 47% of the advanced enterprises have clinched the concept of AI and also applied the strategy to their mobile apps. Whereas, many more will integrate AI into their processes. A proof of this is Accenture’s report that states that AI can double economic growth rates by 2035 along with increasing productivity by 40%. Hence, knowing why to invest in the Artificial Intelligence development process will be like a cherry on the top for enterprises.

Read More | Invest In Artificial Intelligence Application Development

2- Voice Technology

“Alexa, open Netflix and play F.R.I.E.N.D.S”

From Amazon’s Alexa to Apple’s Siri to Microsoft’s Cortana – We believe everyone would be well-acquainted with the concept of Voice Assistants. 

The concept is one of the top technology trends and solutions that is quite trending. Its accessibility within the home devices speaks clearly about its rising popularity. For those who don’t know much, Voice Technology refers to the ability of a specific device to interact and respond to human’s orders.

benefits of voice technology

Whenever there is a discussion about popular technology trends, Voice-enabled Technology remains a significant one. Moreover, Voice search is also known to enhance the Apple Store App experience along with the Android app store experience. 

According to the prediction by Gartner, ‘In the short term, 30% of human-technology interactions will be realized through conversations with smart devices, long-term prediction is even more beneficial, such opportunities are not offered often, so you can seize the moment and consider a startup or business optimization based on voice technology.’ It seems as if Voice technology is showing a green signal to businesses to invest in the same for a brighter and growing future.

Digital technology is drastically changing the whole concept of voice-enabled and voice-based smart assistants. Therefore, if enterprises or startups are planning to get ready to dwell in the future of corporate communications, they are also required to prepare for digital transformation at any cost.

If you are planning to get started with Voice Technology, you would need a killer voice user interface design strategy. Follow this guide to voice user interface design to begin.

3- Internet of Things (IoT)

One of the most prominent business technology trends that’s making its mark everywhere is the Internet of Things or IoT.

Often referred to as the Internet of Everything (IoE), IoT refers to an ecosystem of billions of interrelated physical devices, appliances, vehicles and related things that have the ability to collect and share data with each other in real-time – without human intervention. These devices can be anything – coffee maker, TV, bulb, washing machine, wearable or music systems.

From driving a car with built-in WiFi to keeping a track of our step count via wearables – The Internet of Things is making the world around us smarter and more responsive. 

stats of iot

The technology is already in practice in startups and established brands for easier and quicker data handling, seamless data sharing, monitoring any activity, and more. 

Though its adoption is currently a slower process, as per a Gartner report, around $6 Trillion will be invested in IoT – with more than 30B devices live in the market. This will make more businesses turn towards investing in IoT app development.

If you wish to jump on the bandwagon of this trending technology, take the assistance of our IoT app development experts. 

4- Augmented Reality

Next on our list of popular tech trends, you should look out for in 2021, is Augmented Reality; one of the top mobile app development technologies. Heard about Snapchat Lens or played Pokemon Go? These applications are the brainchild behind this innovative technology.

There is no denial, Augmented Reality is one of the highly advanced technology trends in our society and will emerge even stronger in the upcoming year. The technology can be described as a real-life view of a thing that projects or inserts images onto the screen. 

Augmented Reality is currently serving businesses across different business verticals like healthcare, travel and tourism, real estate, etc. with its potential to bring the best opportunities to merge virtual and real world. It is expected that the approach of AR technology in the business world will expand to newer sections to earn higher revenue.

As Tractica has already made a prognosis that by this year, the installed base of actively used augmented reality apps will grow to more than 2.2 billion apps. Also, according to Digi-Capital, the technology will reach $90 billion in revenue within 5 years.

AR is one of the most embraced technology trends of 2021 as it provides almost hands-on experience, excellent customer service, improves customer satisfaction scores, tapping the audience outside of their area vicinity and gives your brand reputation a smart boost. 

If you are about to implement this tech wizardry into your business, follow this augmented reality guide.

5- Virtual Reality (VR)

Where Augmented Reality enhances their environment, Virtual Reality immerses the user in an environment.

From the gaming world to spreading its branches across different business verticals – Virtual Reality has come a long way. This computer-powered physical-like environment technology is slowly and gradually transforming the economy in a better way. Many major tech giants like HTC, Google and Samsung are coming up with their own VR devices which somehow highlights the popularity of it in the coming future.

first vr headset

It is one of the best and modern technology and business trends of 2021 and has already brought a revolution in the market be it the healthcare domain, travel or any other by bringing the opportunity to take our minds to a virtual world. Take a look at some of the AR/VR market trends you should keep up with.

80% of the companies are investing in the concept of VR-based software and technology and the number is likely to grow in the future. It is expected that the VR industry will cross around $1 billion and will become a staggering $150 billion market by the year 2021.

If you are also planning to invest in VR-based mobile applications, choosing the best and most acknowledged app development company can do wonders for your app along with providing you desired result.

6- 5G Technology

Simply put, 5G technology is a game-changer and no more a future technology trend. The day that was a distant dream a few years back is nowhere that is letting people enjoy the internet with the best of speed along with other associated perks with it.

The boost in digital transformation and remote work gave rise to the need for a fast and reliable connection & lo and behold 5th generation mobile networks came barging into our smartphones. Moreover, as we continue to grill under the hardships of coronavirus and embracing work from home, the value of 5G continues to become increasingly mainstream in 2021. 

The higher bandwidth of 5G will make the websites load faster, satisfy the customers and, in turn, more conversions and better ROI. 

Advantages of technology in business related to 5G will underpin a good amount of worth of goods and services such as retail, transportation, healthcare etc. Today, nearly every industry is impacted by 5G in some way or the other. In fact, biggest handset manufacturers like Apple, Xiaomi and Samsung are (or soon to be) releasing 5G phones in an affordable price range – making 5G accessible to as many smartphone users as possible.

With 5G connectivity, it will become easier to work while saving time, cost, energy along with increasing revenue.

7- Blockchain Technology

Blockchain technology needs no introduction. What was limited to cryptocurrency and Bitcoin has now come out of its shell & become one of the best automation technologies that are gaining a lot of traction now. For those who aren’t aware, Blockchain is a decentralized way of transferring information from source A to source B automatically.

Businesses from multiple verticals are showing a keen interest in adopting the blockchain technology trends to automate and enhance their business workflow. Plus the pandemic has only accelerated the process of implementing the technology. 

According to Gartner, Blockchain has the power to revolutionize industries by providing transparency, robust security, trust, reduction in transactional costs, improvements in cash flow and enabling value exchange across businesses. 

Also read | Blockchain for business – Does your company need it?

With the hype having subsided, blockchain has got into the raw functionality and is poised to deliver results where it matters in 2021.” says WePower CTO and co-founder, Kaspar Kaarlep.

Though the implementation of this new technology for businesses comes with certain challenges – due to the involvement of multiple approaches – but as the technology continues to mature & enterprises are discovering how it is able to better deliver on greater returns in terms of cost, efficiency, productivity and automation.

8- Cybersecurity

Whichever year it may come, operational technology Cybersecurity is one such trend you cannot afford to miss out on. Though cyberattacks have been a part of online life (Especially since the evolution of the internet), they rose to the power during the Covid-19 pandemic.

The sudden shift to remote work, virtual streaming services and online delivery saw a huge surge in the early months of the pandemic. However, they also gave cybercriminals more room to create privacy issues and find susceptible targets.

Considering the growing data breaches and other hacking incidents, keeping up with the cybersecurity challenges has become a pivotal element of our digital world. It will come up as an answer to why technology is important in business in terms of security by bringing better opportunities and options than what we find in any mobile app testing guide. 

Size of the cybersecurity market worldwide, from 2017 to 2023 (in billion U.S. dollars)

Moreover, the concept now tops the priority list of every organization as they prep up for a post-COVID 19 world. According to the press release by Global Market Insights, Inc, it is estimated that the value of the cybersecurity market is anticipated to reach approx. $300 billion by 2024. Not only this but also the cost of annual cybercrime damages is expected to reach $5 trillion by 2021. 

All in all, implementing cybersecurity will not only make your network security but also give you greater peace of mind.

9- ‘As-a-service’ Cloud Revolution

Though not a new technology in business, as-a-Service (aaS) cloud apps witnessed a massive surge over the past few months. Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), Communication-as-a-Service (CaaS), Monitoring-as-a-Service (MaaS) and Database-as-a-Service (DBaaS) are some of the most popular cloud computing services that are helping businesses cut down costs and simplify IT infrastructure. 

Together, these services form the Anything/Everything-as-a-service (XaaS) market and have become the significant factors driving business growth in 2021.

Know | Cloud Apps VS Web Apps – What Does Your Business Need

Google Docs, Salesforce, Microsoft 365, WordPress.com, Photoshop or SAP are some of the popular Software as a Service (or SaaS) services. Moreover, remote working and coronavirus-led digital transformation acceleration have resulted in the rapid adoption of cloud tech innovations – a factor that could impact 2021 growth.

These “as-a-Service” solutions have multiple advantages up their sleeves such as real-time provisioning, lower costs, high-quality experience, contextual service delivery and on-demand solution elasticity – in short, everything your business needs to be agile. Moreover, according to IDC’s prediction, global spending on cloud computing will surpass $1 trillion in 2024.

So, these were some of the new technology trends for 2021 that could impact the growth of the market, transform the business world and generate new sources of opportunities and revenues in the future. Integrate these technologies into your traditional process for gaining the best of both the real and virtual world.

How Appventure can Help you with Integrating New Technology for Business?

All hands on deck, people! We’ve got a lot to do to re-shape our economy.

We are certain that anyone who believes in the power of technology will sail through this (and if any other) crisis efficiently. With the surfacing of new norms of social distancing and quarantine, rather than getting overwhelmed, find ways to embrace technology trends to innovate, enhance and evolve.

All you need is persistence, basic knowledge and help from the best app development company like us. 

Get in touch with us to know how you and your business can witness continuous growth even post-pandemic.

Ajay Kumar
Ajay Kumar

A young entrepreneurial technocrat who is the Co-Founder & CEO at Appventurez Mobitech. After completion of his masters in Computer Application, he dived into the world of technology as an iOS developer. As a CEO, he firmly believes teamwork and collaboration are the essential tools for any company’s success.

⚡️ by Appventurez

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