Everyone wants to invest in the hottest technologies. But there is one big thing that holds many people back. How do you know which technologies to invest in? In the following article, we will detail what are the best technologies to invest in right now and why they are.
1. Internet of Things (IoT)
IoT technologies are smart devices that connect to and communicate over the internet without any human interaction. Using M2M SIM and other critical components, IoT is powering a whole slew of devices for both consumers and businesses such as:
- Internet-connected vehicles
- Home automation devices
- Wearable technology
- Health-monitoring devices
- Remotely controlled appliances
- Security systems
Last year, the worldwide market for IoT technologies reached $130 billion, but this is expected to increase to nearly $320 billion in 2023, with no end in growth anywhere in sight.
A blockchain is a distributed digital ledger that was created for and powers digital cryptocurrencies such as Bitcoin and Litecoin. But the technology is being used for a lot more than this as it lets companies deploy trustworthy and transparent systems that require no requires no third party to authenticate transactions. Blockchain technology is powering applications such as:
- Cross-border payment systems
- Smart contracts
- Supply chain management
- Digital voting
In 2017, the market for blockchain technology was $700 million, but it is expected to reach $60 billion by 2024.
3. Artificial Intelligence (AI)
At one time, artificial intelligence was the subject of science fiction novels and movies. But today AI is a reality. If you have an Alexa-powered device or use a personal assistant on your smartphone, you are already familiar with the technology that creates machines that are capable of limited human-like thought. The technology is pervasive in a wide range of diverse fields, such as:
Experts predict that the market of AI technology will explode, from $9.5 billion in 2018 to close to $120 billion in 2025.
4. Virtual Reality (VR) and Augmented Reality (AR)
VR and AR are similar technologies. While VR immerses a person in a virtual, computer-created world, AR brings virtual elements into the actual world. You are probably familiar with both technologies within the context of games and other entertainment experiences, but the technology is being used for much than this, such as training and education.
In 2017, the combined market for VR and AR technologies was $14 billion, but it is expected to skyrocket to more than $140 billion by 2020.
5. Self-Driving Cars
When Google demonstrated the first self-driving car back in 2010, many giggled. But no one is laughing today. In 2016, General Motors spent $1 billion to buy a company developing the technology and is expected to soon start testing its first autonomous cars. Other car manufacturers are investing in the technology as well, and so is Uber and Lyft.
The market for self-driving cars is expected to rise from more than $50 billion in 2019 to more than $550 billion in 2026.
In conclusion, if you are interested in investing in some of the best new technologies, you cannot go wrong with any of those listed above. They all have one big thing in common: the potential for incredible growth and profit.