DailyPost 2748
TECH TRENDS 2024
Deciphering tech trends can enable a start-up or even a well-established tech business to be sure of trajectory it is taking and the likelihood of growth. Companies and at times even governments have ridden on the tech trends, sometimes not so perceptible too, have gained considerably, both by way ringing cash registers, consolidating foothold and many times a huge horizontal extension of business. Sometimes, it is an individual effort, but mostly sectoral and if it is done by specialized organizations based on research, survey etc., it becomes much more authentic and acts as an advisory / guidelines for lots.
Deloitte Tech Trends India report is a well validated report in this direction. It has come up with six transformative technologies which would propel tech adoption and in turn growth in 2024. What is most fascinating that it is an India centric report. Before coming to the six major trends, what the report predicts is that India would lead the global technology sector despite global economic uncertainties. The year-on-year growth is expected to be at 3.8%. The reports says that with over 1,600 GCCs, the Indian market it on way to exceed US $ 100 billion by 2030. The GCCs would increase to 2,500 and is likely to employ 4.5 million people nationwide.
The first technology trend is of spatial technology and industrial metaverse. The report predicts that India would emerge as a key player in the area of spatial computing and industrial metaverse. What digital twins can do is one such use cases, which is already making waves. The projected revenue out this tech growth / trend is of US$ 2.1 billion in 2024 with an anticipated CAGR of 40.03% from 2024 to 2030. It would revolutionize operations from banking to education. The second tech trend as we all would expect is Generative AI with its immense growth potential. GenAI market is projected to achieve a CAGR of 24.4% from 2023 to 2030. Over* 70 startups in GenAI secured US 590 million* in funding. It indicates towards the significant market growth potential.
The third trend is called Beyond Brute Force Computer. It means the shift towards software refinement and parallel processing. Cloud computing is likely to reach US$10 billion hyperscale market by 2028. It is expected that strategic alliances in quantum computing and semiconductor innovation would strengthen India’s global computing standing. Prioritizing Developer Experience (DevEx) is the next trend. The fifth trend emanates from tech strategies / tools to Defend Reality, which primarily means making truth known as truth, validated, in an age of synthetic media. The last trend deals with competitive advantage. It is termed as Core workout; From technical debt to technical wellness in this report. Together all the six trends would be transformative and has the potential to completely change the tech landscape of India.
THE CAPABILITY TO RIDE ON TECH TRENDS CAN MAKE OR MAR AN ECONOMY.
Sanjay Sahay
Have a nice evening.