In this article, we will look at the top 5 tech trends in 2023. If you want to read our detailed analysis of the global tech industry, you can go directly to the Top 15 Tech Trends in 2023.
5. Metaverse
Growth projection (2030) = $1.30 Trillion
Market size in 2023 = $83.9 Billion
Companies like Meta Platforms, Inc. (NASDAQ:META) are powering metaverse technology and playing a big role in evolving it. Metaverse is considered to be the next iteration of the internet with virtual 3D spaces.
According to MarketsandMarkets Research, the global metaverse market is estimated to be valued at $83.9 billion in 2023. The market is expected to reach $1.30 trillion by 2030, growing at a compound annual growth rate of 48%.
5. Internet of Things
Growth projection (2032) = $1.56 Trillion
Market size in 2022 = $320.9 Billion
The Internet of Things, or IoT, is one of the most in-demand tech trends in 2023 and will continue to be a top tech trend in the coming years. The Internet of Things compromises physical objects embedded with software, sensors, and other technologies.
According to Precedence Research, the global Internet of Things market was valued at $320.9 billion in 2022. The market is expected to grow to $1.56 trillion by 2032, at a compound annual growth rate of 17.2%.
2. Cloud Computing
Growth projection (2032) = $2.29 Trillion
Market size in 2022 = $480 Billion
Cloud Computing is among the top tech trends in 2023. Cloud Computing involves the management and provision of computing services including storage, databases, servers, and analytics, among others, virtually.
As per Precedence Research, the global cloud computing market was valued at $480 billion in 2022. The market is projected to reach $2.29 trillion by 2032, growing at a compound annual growth rate of 17%.
2. Autonomous Systems
Growth projection (2032) = $2.35 Trillion
Market size in 2022 = $121.78 Billion
Companies are making progress in developing autonomous systems, especially across the automotive, delivery, and logistics industries. We can see self-driving trucks, cars, and delivery robots. Autonomous systems rank among the top tech trends in 2023.
As per Precedence Research, the global autonomous systems market was valued at $121.78 billion in 2022. The market is expected to grow to $2.35 trillion by 2032, at a compound annual growth rate of 35% from 2023 to 2032.
1. Artificial Intelligence (AI)
Growth projection (2032) = $2.57 Trillion
Market size in 2022 = $454.12 Billion
Artificial Intelligence (AI) is the fastest growing technology and 2023 is dedicated to AI. Applied AI and generative AI are creating a huge buzz in the tech sector. Artificial Intelligence (AI) has broad implications across every tech sector and that’s why it ranks first on our list of the top tech trends in 2023.
Precedence Research valued the global AI market at $454.12 billion in 2022. The market is expected to grow to $2.57 trillion by 2032, at a compound annual growth rate of 19%.
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