Top 5 Trends in the Tech Industry

The tech industry and emerging technologies are rapidly evolving and revolutionizing the way we live and do business. This exponential digitization should bring growth and efficiency, but it can also be risky for individuals and organizations that fail to adapt to the changes. Knowing existing technology trends will allow you to remain resilient, agile, and responsive to rapid change. In this article, we discuss the top 5 trends in the tech industry that have the potential and power to shape the years ahead.

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Top 5 Trends in the Tech Industry

The tech industry and emerging technologies are rapidly evolving and revolutionizing the way we live and do business. This exponential digitization should bring growth and efficiency, but it can also be risky for individuals and organizations that fail to adapt to the changes. Knowing existing technology trends will allow you to remain resilient, agile, and responsive to rapid change. In this article, we discuss the top 5 trends in the tech industry that have the potential and power to shape the years ahead.

1. Workplace automation

 

Artificial intelligence (AI) and the Internet of Things (IoT) have been among the most popular technology trends of the past decade and will continue to grow in the future. This type of automation has tremendous benefits when it comes to filling gaps created by labor shortages while optimizing the workforce. Global spending on the Internet of Things (IoT) is expected to reach $1.1 trillion by the end of 2022. 

 

Besides it, new technologies such as 5G are expected to drive market growth in the coming years. 5G Networks will cover 40% of the world by 2024, handling 25% of all mobile traffic data making it an emerging technology trend you must watch out for, and also save a spot in. 

 

This trend challenges companies to start implementing IoT and AI because by interacting more effectively with machines, customers will expect all types of products and services to implement some type of these capabilities.

 

 

2. Cloud services and platforms

 

Cloud services and platforms are the next evolutionary step, moving from generic technology to customized and individual platforms for different industries. These clouds provide various aspects of macro- and micro-applications as well as data management.  Currently, the fastest growing cloud is software-as-a-service (SaaS), which vertically integrates business solutions, enterprise planning, customer relationship management and related services. 

 

In addition, these models support remote working, positively impacting IT modernization, as well as digital business acceleration. The famous examples of SaaS are GoogleApps, Dropbox, Slack, Hubspot. 

 

To learn more about SaaS, read the blog How to Sell and Grow SaaS in 2022.

 

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3. Nearshoring talents

 

One of the fastest growing trends in the tech industry is competition for technical talent. That's why new forms of outsourcing are emerging year after year. Nearshoring is an outsourcing practice that involves hiring services and teams in countries that are in the same time zone as yours. It allows companies to find top talent that's not available in your region, but with whom you can easily communicate because they're familiar with their culture, language and work schedule.

 

A successful example of nearshoring is Typeqast, which provides agile, affordable, and highly skilled software development teams as a service to innovative companies. This means that part of the team works in your office and another part works in a country nearby. In that sense, Typeqast helps organizations in their sourcing as it’s easier to find the right professionals very fast. Your Typeqast product owner is the intermediary between your company and the development team to ensure smooth and fast communication. Partnering with an IT provider closer to the home office has plenty of advantages that companies realize are crucial in the XXi century, such as:

 

- Allowing for more frequent visits to the manufacturing site

- Finding the right professionals more easily

- The price of the team is lower in nearshoring countries

- Reduction of cultural discrepancies and language barriers

- Enabling access to expert knowledge

- Flexibility, which is an important fact in the constantly changing world of technology

 

 

4. Low-code

 

Low-code platforms are widely used because you no longer need to be a web or app developer to create a website, app, or interface. In addition to overcoming technical barriers, low-code platforms are popular for their effectiveness, scalability, and flexibility. They allow companies to speed up software development and customize various applications with little or no experience. They're also more cost-efficient and can also serve as accelerators for large-scale digital transformation projects.

 

Low-code applications, for example, can improve core business functions such as financial data processing, HR processes, or workflow setup and automation. Some of the most popular low-code applications are WordPress, Weebly and Wix.

 

 

5. Cybersecurity

 

Cybersecurity threats are constantly evolving along with modern technologies. Today, cybersecurity is an absolute must, as hacking-as-a-service is rapidly increasing along with software-as-a-service. Threat actors continue to educate themselves to understand security tools better than we do. The problem also lies in software security, because they can infiltrate third-party software and use trusted connections to get right into your environment directly.

 

Organizations should familiarize themselves with cyber risks by reviewing the approach and security tools they use and working with experienced software assurance teams that can give them peace of mind.

 

Conclusion

 

New technology trends are popping up day after day, so businesses need to embrace them and seek more direct digital ways to connect with their customers. Without keeping an eye on technology trends and the potential risks, you won't be able to grow and advance your position and strategies in the modern marketplace.

 

 

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