5 Technology Trends to Keep up with in 2020!
A couple of days back, I gave a surprise visit to my uncle’s house. My uncle is an entrepreneur and works as a part-time business consultant too. He is very inquisitive by nature and likes to stay updated with the latest happenings in the industry. When I met him, he was watching a talk show on the latest technology trends that would be dominant in 2020. In this blog, I have listed them out. Let’s have a look at some of the major technologies that will rule the roost in the year 2020!
1. Artificial Intelligence
“Intelligent” technology is the future of the industry and Artificial Intelligence is one such technology. It aims to create systems and programs that can function well independently. Devices driven by Artificial Intelligence have the ability to solve complex problems using natural intelligence. They can easily take decisions just like a human does.
Applications of AI can be seen everywhere. Even tech giants like Walmart and Amazon can be seen using Artificial Intelligence in drone delivery programs. You might have come across AI-enabled Customer Assistants that can easily resolve customer queries and render an outstanding customer experience to the users. Other AI-driven applications prevailing in the ecosystem include Chatbots, Virtual Assistants, Google Maps, Amazon Alexa, and many more like these.
The impact of AI on the business industry is significant and has benefited companies in driving business profits. A report by Forbes stated that the Marketing and sales prioritize AI higher than any other department in enterprises today (40%).
2. Internet of Things
The Internet of things is everywhere and growing exponentially! Wondering what IoT is? It is a system of interrelated computing devices, mechanical and digital machines and objects. IoT devices are provided with unique identifiers and sensors that possess the ability to transfer data over a network. They do not require human-to-human or human-to-computer interaction. By introducing these smart devices, IoT has surely become one of the top technology trends dominating the market industry.
The advent of IoT has shifted the internet from computers into household appliances. Smart home is a basic example of the application of the Internet of Things. A smart home helps you get access to every aspect of your home using voice commands. Isn’t it amazing? Did you know big names like Google and Samsung too are investing heavily to build wearable devices incorporating IoT? Smartwatches, driverless cars are other examples of IoT applications. The widespread use of IoT devices is clearly evident at every place which makes IoT the best technology that you can choose in 2020.
As per an analysis conducted by IHS Markit, a world leader in critical information, analytics, and solutions, the number of connected Internet of Things (IoT) devices worldwide will jump 12 percent on average annually, from nearly 27 billion in 2017 to 125 billion in 2030.
Also, in a blog published by Forbes, McKinsey estimates the total IoT market size (which was up to $900M in 2015), growing to $3.7B in 2020 attaining a 32.6% CAGR.
3. Chatbots
Chatbot is one of the most popular technology trends on the list. An article by Forbes stated, Chatbots will be your New best friend! Do you know what a Chatbot is? A chatbot is an Artificial Intelligence (AI) software that can simulate a chat with a user through messaging applications, websites, mobile apps or telephones. It aims to improve customer experience by allowing customers to chat with automated bots and get instant responses without human intervention.
“Messaging apps are the platforms of the future and bots will be how their users access all sorts of services” shares Peter Rojas, Entrepreneur in Residence at Betaworks as stated in a blog by Forbes.
The eBay chatbot is a popular eCommerce chatbot in the market. Another chatbot example in vogue these days is Yes Sire. Yes Sire is an Alexa game. Besides these, Emirates Vacation, National Geographic Einstein Bit, Hipmunk, Dominos, Bank of America are some of the popular chatbots prevailing in the industry.
A chatbot is the best technology for boosting customer experience. They are very popular these days. Companies are now building their own chatbots using different frameworks. According to a survey, it was observed that 28% of top-performing companies use AI for marketing. From Spotify to Sephora, more and more brands are tapping into the opportunities chatbots offer. More than 10,000 bots are being used on Facebook Messenger already.
You can hire dedicated laravel developer for creating one for your website.
4. Augmented Reality/Virtual Reality
Both AR and VR have been a hot topic of discussion within the technology circles. Let’s have a look at these technology trends to know more. Augmented Reality is the overlay of digital objects in the real-world environment. If put in simple words, if you see the real world objects being supplemented with digital objects, then that’s AR! Say, for instance, you wish to buy a table. AR can help you assess how different tables will look at your place so that you can pick the one that fits the best.
Virtual Reality, on the other hand, offers an artificial digital environment that completely replaces the real world. Using VR, users can experience artificial sounds and sights which let them feel as if they are in a digital world. You can move into this environment and interact with it too. This is what VR is like!
AR lets the user experience the real world, that has been digitally augmented. VR, on the other hand, removes the user from that real-world experience, replacing it with a completely simulated one.
Apple’s ARKit framework uses AR allowing many iPhone and iPad owners to experience the Augmented Reality (AR). Walmart uses VR to create scenarios to keep users informed about weather emergencies. Also, Facebook is striving hard to let its users experience the Virtual Reality (VR) effects.
A recently published report states some astonishing facts about these top technology trends. Listed below are some of these.
- AR market stands at $3.5 billion.
- By 2020, there should be 1 billion augmented reality users.
- 70% of consumers believe AR can bring them benefits.
- 67% of media planners and buyers wish to add AR/VR ads in their digital marketing campaigns.
5. SPA
Slow websites are bad for your business! Amazon backs up the fact stating that for every one-second delay, the conversions dropped by 7%. So, if you sell $100k per day, that’s an annual loss of $2.5m. On the other hand, the tech giant Walmart says that it witnesses a 1% revenue increase for every 100ms of improvement.
With the advent of Single Page Applications, users can interact with the page without any disruption while new elements are being updated. The SPA approach renders faster interactions as it reduces the number of page refreshes. This is what makes it the best technology that you can use for your next business suite.
While there are a number of frameworks available for building SPA, ReactJS is one of them. You can hire react js developer to create quick responsive Single Page Applications using React. Large enterprises have already started using SPA. Big names that use Single Page Applications include,
- Facebook.
- Twitter.
- Google Drive.
- Gmail.
- Google Maps.
Final Thoughts
By now, you must have got a clear idea about the top technology trends that would surely steal the show in the year 2020. They have already proved their mettle in the industry. Their wide acceptance can be seen in almost all businesses. Tech giants have already considering these technology trends for adoption. You can choose any of these too for your Next Project!
