Well, we are in that time of the year when we come across all the best things that happened all through the past 12 months. But that’s not the only thing! We will also be bombarded with predictions that await us in the coming year.
When it comes to tech, there are several predictions for 2020 ranging from electric bikes to audiobooks. These predictions have come from Deloitte’s technology, media, and telecommunications teams.
This is the 19th edition of the Deloitte TMT Predictions and it covers three themes including individual technologies that are becoming more interdependent and interconnected; computers, smartphones, TVs, software, and data centres that drive most of the TMT industry’s revenue; and many previously hyped services and products that could come to reality in 2020.
Deloitte predicts that in 2020, we can see industry players working together more closely than ever before as individual technologies such as robots, AI chips, and 5G become interconnected and innovations such as low-earth orbit satellites turn into reality. Paul Sallomi, vice chairman, Deloitte LLP, global TMT industry leader believes that the predictions for 2020 will be a helpful guide for TMT business leaders across the world to understand what they need to do next to be successful. Below are the insights from Deloitte’s TMT predictions for 2020.
A surge in LEOs is expected
The low-earth-orbit (LEO) satellites are likely to witness a surge in 2020. From nearly 200 LEOs that exist in 2019, it is estimated that there will be over 700 such satellites by the end of 2020.
Wondering how this surge will help? Well, low-earth-orbit satellites require the lowest amount of energy for satellite placement and provide high bandwidth and low communication latency. Eventually, these provide global broadband internet. With the new mega-constellations of orbiting broadband stations, it is possible to add several thousands of individual satellites that can help realise better internet connectivity.
Audiobooks market to grow by 25%
The Deloitte TMT predictions for 2020 hint that the global audiobook market will grow by 25%. It is believed that the global podcasting market will witness a surge of 30% in the next year. This growth is attributed to the growing number of speakers and headphones of late. To be market-specific, the report notes that the audiobook value in the UK could reach £115 million in 2020.
Fast-growing smartphone multiplier market
Smartphones are used by millions of people across the world but it is not the only one that makes a lot of money. There is something called the smartphone multipliers and this has surpassed the smartphone market. If you ask what a multiplier is, then you need to know that it comprises the additional stuff that you need to get the best experience such as headphones, cases, and chargers.
Basically, you need to do a lot such as subscribe to apps, spend on repairs and insurance among others for your smartphone. These could be small expenses but add to the smartphone multiplier market.
The Deloitte 2020 TMT Predictions show that the smartphone multiplier market comprising hardware, content, and services will be surge between 5% and 10% per year until 2023. So, in 2023, the smartphone multiplier market is predicted to generate revenues worth over half a trillion dollars a year.
The internet market could double
Deloitte has predicted that the global Content Delivery Network (CDN) market could reach great heights in the next year reaching 25% from the estimated value of 2019. the market is said to witness two folds growth by 2025, which is a compound annual growth rate of over 16%.
130 million e-bikes to be sold
Already, there is increased adoption of electric vehicles. It is said that the number of e-bikes will be twice that of the regular bicycles in major global cities where cycling to work is yet to become mainstream. Deloitte predicts a 1% point increase in the percentage of people who might take the e-bike route to commute to work between 2020 and 2023. Also, it is predicted that 130 million e-bikes could be sold in the period.
Stock photo from Andrew Krasovitckii/Shutterstock
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