Tech startups and fundings: Covid is a killer, not only does its victim include so many innocent lives but its victims include many businesses too. From long-standing businesses to small corner shops, most have shut their doors in the wake of disaster but despite the tragedy, some found their way and succeeded against the odds.
Pandemic has offered many problems and those who we’re able to resolve them have found unlikely success in a year that has been nothing less than a sine graph
The system has enough appetite for quality assets.
A venture capital report published by Bain & Co startups with their innovation and technology in their domain will be attracting investors to double down on their assets, especially with larger rounds setting a more measured way of deal-making in 2022.
In the past few years, the leaps that have been made in our entire global economic system are quicker and larger than ever with very few economists or tech experts who can answer with high confidence how they envision the economy 20 or 30 years from today.
As new technologies are prevailing, new horizons have been tapped and new industries are being shaped that we never thought of until recently. Being able to forecast these changes will be the most critical factor in your decision to pursue a certain career or invest in one industry or the other.
We’ve brought together 5 growing industries of the future that hold the potential for exponential build.
1. IoT or Internet of Things
A few years back the Internet was something that when we were on our computers then some years ago it completed the partial transition to our mobile phones which when completed became an undistinguished part of our lives.
Video game consoles were also no exceptions and we’re on a path where very soon we won’t have to say “I’m on the internet”
Overall enterprise spending on IoT grew from 12.1% in 2020 to $128.9 billion with the Asia-Pacific region showing the fastest growth (17.0%), followed by North America (14.9%) and Europe (9.7%) and in 2021 IoT spending for enterprises grew at 24% and beyond 2021 it is expected to grow at 26.7% annually.
With the uninterrupted impact of the pandemic especially on IoT budgets followed by a global chip shortage, IoT Analytics still predicts IoT spending to increase by 24.0% in 2021, with the overall market reaching $159.8 billion by the end of 2021.
China managed to limit pandemic effects by acting quickly and decisively. As a result, enterprise IoT spending grew by 23.5%, nearly twice the global average.
Almost everything we use from our fridges to washing machines will be connected to the internet making them smart devices just like our smartphones and knowledge of networks, data communication, and software will be skills that are needed in every single industry out there.
2. Artificial Intelligence
Google studies our behavior.
Facebook learns our preferences.
We use Alexa to search best places to eat and amazon guides us through the islands of the digital market ever since the machines began acquiring knowledge of their own, they’ve taken huge leaps toward developing a consciousness
AI is not only a field that’s exclusive to computer scientists because, in other words, we’re also creating brains here and potentially one that’s way more powerful than the one we possess.
The total funding in 2021 was $1,108 million and a growth rate of 32.5% compared to $836.3 million in 2020.
A vibrant arena for endless experimentation will be having people who create it, others to observe it and ones to decide how we’ll live with it.
About 15 years ago exactly in 2003, the US founded the human genome project which dates back to 1990 and was finally able to sequence and map the human genome code.
This project cost $3,000,000,000 and if things would’ve stayed at that cost the industry wouldn’t carry much hope since not many people would be willing to enter into something that is expensive but fast forward to the present where sequencing a genome can cost around $1,000 in 2021.
Today the field of genomics is at its highest level of vigor with players like Bill Gates and Google jumping off their bandwagons and pumping billions of dollars this industry is expected to be worth more than $20 billion in 2022 and holds the potential to save lives of 66,000 live annually
With the research being more facilitated, Genomics is expanded to completely transform our understanding of the human body’s components and our ability to cure and nurture it.
There are countless ways in which we as a species have our hopes hanging on advancements in the fields of nanotechnology, today there’s extensive research in the field with applications ranging from medicine to agriculture with the possibilities under study regarding how we can use nanotechnology to speed up bone cell growth.
The global market of nanotechnology should grow from $5.2 billion in 2021 to $23.6 billion by 2026 at a CAGR of 35.5%in the period 2021-2026.
The American market for nanotechnology is expected to grow from $1.6 billion in 2021 to $7.2 billion in 2026 at 34.5% CAGR and the Asia-Pacific market for nanotechnology should grow from $1.2 billion in 2021 to $6 billion in 2026 at a CAGR of 37.6%
The detection of cancer cells, creation of self-cleaning surfaces, and implementation of healthier and more efficient irrigation methods, we can go on but you got it. All of the potential points in the future of nanotechnology are only pointed in one direction i.e., “Endless advancements”
5. Renewable Energy
For several years a growing number of people are getting into an ever-inflating state of existential panic because of the climate change that’s taking place as a result of a century-long facelifted use of fossil fuels as the primary source.
The biggest share of spending in 2021
According to IEA, the global power sector investment should increase by 5% in 2021 and exceed $820 billion which will be a substantial increase after 2020.
According to some estimates, $750 billion would be spent on clean energy technology and efficiency in 2021 but it remains far below the required amount to put the energy system on a sustainable path.
Renewables will dominate new power investment; coal is not out of the picture even though approvals for coal-fired power plants have fallen below 80% from where they were five years before.