8 most important technology trends in 2024

Technological changes keep us in suspense. Because scientists, engineers and innovators are developing more and more advanced technologies in the search for new and better devices. Big Tech, the five largest technology companies, often set the tone when it comes to trends. Some of you are currently mainly focusing on the development of augmented reality (AR) and immersive technologies to create a kind of replica of our real world.

With technologies such as the digital immune system, 6G, the Metaverse and other innovations, this idea can soon become a reality. What does this mean for companies? Will these technologies increase productivity, or are they more of a high cyber risk? Read on and find out.

What are the major IT market trends for 2024?

In recent years, many companies have been struggling with a number of crises, such as supply chain disruptions (here's how to use RND to address supply chain issues), high inflation, geopolitical turmoil and of course an unprecedented global pandemic and the ones that followed lockdowns. During this time, many were forced to develop new communication systems and ways of working. Even now that the worst of the pandemic is over, many are still working from home or in a hybrid model. Because many employers rely on online systems and do not even try to go back to pre-pandemic reality.

According to the study "The Impact of Technology in 2024 and Beyond: an IEEE Global Study", the largest technical trade association in the world, the global impact of cloud computing will be 40%, followed by the Metaverse 37%, electric vehicles 35% and IIoT 33% .

 

Whether you're looking to improve your facility, reduce costs, or simply change your business strategy, here are some of the key technology trends that will impact our world and businesses in the year ahead.

1. Digital immune system

Instead of the Zero Trust security concept we reported on in 2021, in 2024 companies are focusing on a “digital immune system” that combines multiple software development strategies to protect against risk. This security concept is intended to reduce operational and security risks for companies.

AI in cyber security

With the digitization of companies, the risk of becoming a victim of a cyber attack also increases. Cyber ​​security is therefore becoming increasingly important. Artificial Intelligence (AI) and Machine Learning (ML) are the preferred technologies because they are more efficient and faster than human IT technicians. While not every cyber security problem can be solved with AI or ML, they help to quickly automate decision-making processes and identify trends in missing or changed data. Learn more about the role of AI and ML in cyber security here.

Block chain and homomorphism encryption



Currently, besides AI, there are other innovations that support cyber security, such as block chain and homomorphism encryption.

Blockchain security is a comprehensive risk management system for a blockchain network that employs assurance services, cybersecurity frameworks, and industry best practices to reduce the risk of fraud and attacks. These solutions are applicable to a variety of data storage systems and are designed to protect the data stored on a specific blockchain. These tools assess risks, analyze a blockchain ecosystem, and identify threats to data, applications, and digital assets.

Homomorphic encryption should enable the further processing of encrypted data without having to decrypt them beforehand. This is to ensure the confidentiality of the data.

In the IEEE study, 90% of participants believed that homomorphic encryption technology will have the greatest impact in 2024.

2. 5G and 6G

5G is considered to be one of the most important technology areas. As the number of satellites has increased in recent years, 2024 will offer a new angle on connectivity. “Space satellites will bring mobile connectivity to remote areas and will be a game changer by eliminating the need to build very expensive terrestrial infrastructure. They are also the ultimate virtual private network (VPN) for accessing content beyond national borders,” said Eleanor Watson, senior IEEE member.

Therefore, the coming year will be connected thanks to innovations in 5G and cloud computing. In addition, technology companies will work on 6G, which should be available around 2030. 6G is the sixth generation mobile communications standard for cellular data networks that support wireless communication technologies. It's meant to replace 5G and will likely be a lot faster. Similar to the previous networks, the 6G networks will likely be cellular broadband networks, with the service area divided into individual regions called cells.

However, even before 6G is rolled out, 5G will have an impact on automotive connectivity and automation by 2024. 97% of respondents to the aforementioned IEEE survey agree.

3. Metaverse



The Metaverse is a digital, interactive environment that combines the real and the virtual world. Some sources describe this technology universe as a combinatorial breakthrough rather than a single technology, combining multiple technological trends into a common virtual environment where individuals can enhance the world around them using VR and AR devices.

Metaverse is the main focus for big Silicon Valley tech companies, most notably Meta, formerly Facebook. The company changed its name to include other apps, services, and platforms like Facebook, Instagram, WhatsApp, and others, potentially letting people know about its future plans related to the Metaverse. In the meta-promotional video, Mark Zuckerberg describes the new technology: “The next platform and medium will be even more immersive, an embodied internet where you're in it, not just looking at it. And that's what we call the Metaverse."

Opinions are divided about the Metaverse, and newspapers such as The Guardian and The New York Times question whether the plan will work because the Metaverse is still in its infancy and the return on long-term investments is uncertain. According to market research firm Gartner, by 2026, 25% of people will spend at least an hour a day on the Metaverse. It will be a platform for socializing, learning, working, shopping and entertainment. In addition, according to the study, more than 40% of large companies worldwide will use a combination of Web3 (a blockchain-based decentralized online ecosystem), AR cloud and digital twins in Metaverse-based projects to increase sales.

4. Adaptive AI

Adaptive AI, unlike traditional AI processes, can self-adapt in production or change post-deployment by leveraging real-time feedback from past human and machine experiences.

As mentioned when describing AI in cybersecurity, the new implementations can adapt to specific environments. AI is faster than humans when it comes to combating cyber attacks and fends off potential threats more efficiently. Especially in the technology, engineering and manufacturing industries, more and more things and machines are being connected, so this is becoming increasingly important.

Gartner predicts that by 2026, companies that have implemented AI engineering methods to create and monitor adaptive AI systems will outperform their competitors in terms of the number and speed of operationalizing AI models.

5.Sustainable Technology

Many companies have started to focus on sustainable technologies in recent years. It is clearly a crucial aspect in reducing the carbon footprint, especially for industries that contribute the most to global greenhouse gas emissions. You can read more about this in our previous article on sustainability in the industrial sector.

Technologies such as artificial intelligence, automation, advanced analytics, shared cloud services, and other advanced solutions can help companies become greener. Discover the top 10 innovative and sustainable energy technologies.

To accelerate the transition, mobility companies need to focus on developing infrastructure and investing in more charging stations, electric car batteries and new production lines with a focus on more sustainable car production.

6. EV Adoption

Nearly one-fourth of the world’s greenhouse gas emissions is caused by transportation. The time has come to switch from internal combustion engines to electric vehicles (EVs). Many companies do so, but the adoption of EVs is fast only in some countries. Take a look at the Electric Vehicles Index 2022 to see the market growth.

To speed up the transition, mobility companies need to focus on developing infrastructures and investing in more charging points, electric car batteries and new production lines with a focus on more sustainable automaking.

"All-electric, shared driverless vehicles will have a positive impact on society in 2024 as they will provide underserved and diverse communities with access to fast and reliable mobility," said Bilin Aksun-Guvenc, IEEE member.

7 cloud computing

The delivery of hosted services over the internet is known as “cloud computing” and the three main types of cloud computing are Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS). We have described these categories in more detail in this article.

 

2020 and 2021 was all about cloud solutions as many companies started to work online. 2022 was the year of the hybrid cloud (a combined compute, storage, and services environment made up of on-premises infrastructure, private cloud services, and a public cloud), and this technology is unstoppable. 2024 could be the year when companies first realize the benefits of spreading their services across multiple cloud providers. A multi-cloud approach is a method that is likely to increase in 2024 and will bring many benefits such as increased security and flexibility.

 

According to Gartner, global public cloud spending will increase by 20.7% to $591.8 billion in 2024, compared to $490.3 billion in 2022.

8. Platform engineering

Platform engineering is a term used to describe a state-of-the-art technology strategy that accelerates the delivery of applications and generates business value. The mission of platform engineering is to improve and streamline the developer experience while accelerating the ability of product teams to deliver even greater value to customers.

 

By 2026, 80% of software development companies will have platform teams, and 75% of those teams will have developer self-service portals, according to Gartner.

Are you ready for 2024?

In the new year we will focus on even more advanced technological solutions. To really get the most out of some technologies, you need to rely on AI, automation, and other advanced analytics tools. Sustainability will also be an important aspect in 2024, similar to the previous year.