In 2023, the industry will be dominated by artificial intelligence, cloud services, cybersecurity, the metaverse, cryptography, robots, the internet of things, and quantum computing.
There are a lot of political and economic unknowns in 2023; investments in technology are expected to go up a lot.
This supports the idea that human history’s most important discoveries and changes happened when people were under political and economic pressure.
So, let’s look at some of the best places to invest in technology in the coming year.
Artificial Intelligence
GlobalData’s 2023 TMT Forecasts say that the artificial intelligence (AI) market will be worth $93 billion in 2023, up from $81 billion in 2022.
Artificial intelligence is one of the most anticipated new technologies, which can speed up and improve other technologies like robots, quantum computing, and the internet of things (IoT).
In a survey of IT experts done by GlobalData in the third fiscal quarter of 2022, 57% said they thought AI would live up to all the hype.
GlobalData research shows that the value of the cloud computing market will reach $734 billion by 2023. Compared to 2022, this is 15% more than before. Businesses will keep moving their IT operations to the cloud to save money and have more freedom.
Cloud computing and artificial intelligence will significantly impact new technologies like robots and the Internet of Things because they need constant access to vast amounts of data.
Metaverse
GlobalData says that the metaverse will be worth $376 billion by 2025. Even though the economy is worsening, the consumer metaverse will still be a big thing to watch in 2023.
However, fewer investors will be interested in it. GlobalData’s thematic analysis shows that the metaverse will only be able to change the digital world as much as it can once it is standardised, controlled, and can work with other systems.
There’s no chance that this will happen in 2023.
Blockchain and Digital Currencies
In November 2022, the most critical platform, FTX, went down. This marked the end of a challenging year for the $840 billion cryptocurrency business and sent shockwaves through the world’s financial system.
But the collapse of FTX will likely speed up the creation of a legal framework in the United States that, by 2023, will catch up to the Market in Crypto-Assets laws in the European Union.
Through rules, the goal for 2023 is to make customers’ cryptocurrency holdings safer. For example, they must prove that they have reserves and need help combining their resources with other businesses.
Now that crypto-asset rules are in place to protect the market, more people will buy and use cryptocurrencies.
Quantum Computing
GlobalData says that the quantum computing market will be worth $5 billion by 2025 and that commercial use will start in 2027.
As quantum computing improves and more standards are set for the industry, the market is expected to overgrow in 2023. Because quantum as a service (QaaS) models are becoming more popular.
