In a new analysis, consulting firm Frost & Sullivan has identified top Information and Communication Technologies (ICTs) that have the ability to disrupt existing markets as well as unearth new opportunities for market players.
The technologies covered in ‘Top Information and Communication Technologies, 2017’ include Artificial Intelligence, Blockchain, 5G, Cybersecurity, Mixed Reality, Natural Language Interaction (NLI), Small Data, Hyper-Converged Systems, Everything-as-a-Service (XaaS), and Robotics Process Automation.
"AI has been one of the most funded technologies, attracting large investments from independent and corporate venture capital companies. Already, more than 21,000 patents have been published in this space over the last three years," observed Frost & Sullivan TechVision Senior Research Analyst Debarun Guha.
Frost & Sullivan noted that Internet of Things (IoT) is emerging as a new paradigm for data collection as IoT endpoints generate huge amounts of data that enterprises need to analyze in real time for actionable insights. Furthermore, the convergence of blockchain and IoT, combined with big data analytics, is proving to be a viable solution to many challenges such as the authentication and authorization of IoT edge devices. This will help secure mesh networks as well as eliminate the need for central brokers.
"Another technology with huge potential is Blockchain, which is expanding its application scope beyond banking and financial institutions into a wide range of use cases across industries; the global funding to Blockchain start-ups since 2014 is noted to be in excess of $1 billion," added Frost & Sullivan TechVision Program Manager Kiran Kumar.
Importantly, the analysis found that North America continues to dominate the global shares of revenue, adoption, and sales in the ICT industry, which is being driven by high consumer awareness, increasing number of technology use cases among various industries, and a number of R&D research centers conducting research in the field of emerging ICT technologies.
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