The looming shadow of Artificial Intelligence (AI), the omnipresent connectivity enabled by the diverse concept of the Internet of Things (IoT), complex relationships between the edge and the cloud, countless applications of Augmented and Virtual Reality (AR/VR) tools – all these are just the tip of the iceberg in today's digital (or, to be more precise, quasi-digital) universe.
Technology has never been so diverse. It has also never been so tremendous in size. The scale of this leviathan is expanding the physical world we used to have, melting it together with Internet-based ecosystems made up by a mixture of hardware and software.
As a result, businesses all over the globe are seeing multiple opportunities at nearly every stage of the transregional value chain across various sectors. Apart from this, new industries are evolving, denting competitive landscape in both advanced and emerging economies. According to the latest EqualOcean report, the global smart manufacturing market climbed from USD 47 billion in 2015 to USD 177 billion last year – an eye-popping Compound Average Growth Rate (CAGR) of over 55%.
Individuals also directly benefit from technological progress. While consumer electronic devices – such as mobile handsets – that most of us can't live without nowadays are getting more advanced, mirroring reality with incredible precision, the online and offline shopping experience is taking a new shape by leveraging concepts like AR/VR that have appeared in the blurry border area between the digital and physical worlds. In our recent research, we found that the global consumer tech market was USD 87 billion in 2018 and is expected to reach USD 204 billion by 2022.
More companies are now aimed at serving other entities, operating in the so-called 2B (to-business) sector. Their core money-making models are often built upon state-of-the-art technologies of different kinds. Enterprise services are heating up, which is indicated by the vast heaps of capital thrown at multiple startups in the industry. EqualOcean found that more than USD 43 billion of Private Equity/Venture Capital (PE/VC) investment has been allocated to growth-stage 2B software companies globally over the past three years.
In a nutshell, the importance of technology has been growing exponentially – the world is inevitably becoming smarter, faster and, at the same time, more automated; it is also easier now for those possessing intelligent algorithms and mechanisms to minimize risk and maximize value within many spheres, from housebuilding to investment modeling. And there is, of course, an even larger space for improvement. For example, we estimate that IoT devices will add up to USD 10.2 trillion to the global GDP in the next five years.
A lot of stuff to talk about, isn't it? If you happen to stay in Beijing at the end of this December, turn up, listen up – and speak up.
WIM Salon x Beijing | 'Tech and Investment: 2019 and 2020'
We’ve prepared a kickass lineup of speakers that will be announced shortly
December 27, 6:30 – 9:00 pm (GMT+8)
9 Guanghua Rd, Guomao, 24F Tianjie Building, Chaoyang District, Beijing
The event will be co-organized by the World Innovators Meet (WIM) and professional development organization BeHive. Come meet your peers and top-notch speakers with countless industry insights, enjoy some free snacks and good vibes.
Stay in touch, we will keep you informed.