Top 10 Technological Facts of 2020 That You Must Know
Technology and also the tools that it creates have certainly evolved at a rapid pace. It has also resulted in shifting the manner in which the world operates, primarily in business. Technology can certainly change in almost no time due to a significant increase in efficiency, ability, and accessibility happening in the last few years. These technological factors in Pakistan and other developing as well as developed countries across the world also have resulted in reshaping the operational performance across different industries. In this article, we will provide you 10 Technological facts of 2020 that you must know:
From a technical point of view, a Blockchain allows untrusting parties to have common interests for co-creating a permanent, transparent, and unchangeable record of exchange and processing without depending upon any central authority. Blockchain has several applications and can be used for exchange, agreements, and payments. There are several entities in the world that have now successfully incorporated Blockchain in their business operations. There is ample scope for Blockchain technology’s future in Pakistan and other developing countries across the world.
Following are some of the technological facts related to the incorporation of Blockchain in 2020:
- One of the biggest banks in the world, HSBC is now replacing paper records with a blockchain based platform for tracking almost $10 billion in private
- It is expected that by the end of 2024, global corporations will spend nearly $20 billion annually for blockchain based
- Nearly 91% of European and U.S. banks had initiated exploring the potential of blockchain by
- As of 2020, 28% of companies worldwide are expected to invest nearly $5 million and
$10 million in blockchain technology.
- Financial institutions have spent nearly $590 million on projects that are blockchain powered.
- Nearly 20 countries across the world have adopted or researched the concept of a national cryptocurrency.
The developments made within the area of cybersecurity have been alarming. Due to the fact that the usage of smart devices across the world increases, so does the opportunities for cybercriminals to attack. Below are some of the cybersecurity technology facts 2020:
- In the year 2020, the demand for cybersecurity will increase significantly. A recent research conducted by independent security association (ISC) estimated that there is a demand of $4 million cybersecurity professionals around the
- As of 2020, 64% of companies experienced web-based attacks. 58% of those companies have experienced social engineering. 59% of the companies have experienced botnets. Moreover, 51% of the malicious codes have experienced denial of service
- Due to the fact that business infrastructure gets connected the cybercrime would cost businesses more than $2 trillion total in
Personalized and predictive medicine
At present, technology is changing healthcare at an exceptional speed. Human’s capability to gather information from wearable gadgets, like smart-watches will allow them to gradually anticipate and find cures to medical problems before symptoms are faced by the people. As far as the treatment is concerned, more modified methodologies will be seen. Below we will have a glance regarding facts about technology related to personalized and predictive medicine in 2020 for greater customized and successful cures to make sure improved results for patients:
- The worldwide personalized medicine market was worth $96.8 billion in
- It is expected that the personalized and predictive medicine market will grow by 10.9% from 2019-2026 and it will reach to $218.2 billion by
- By 2028, it is estimated that predictive medicine will allow nearly 34% of physicians across the world to recommend medicines and apply treatments. This is due to the information-driven comprehension of how successful they are for a particular
- Due to the latest developments in technology, particularly in the area of genomics and AI, it is expected that the integration of personalized medicine in genomics research will be worth $31 Billion by
Smart Devices and Appliances
Despite the fact that you may not understand the importance of smart appliances and gadgets in marketing, but me and my fellows are greatly considering it. Even though this space is yet young, it is by now providing bigger brands with remarkable opportunities. It can be envisioned that devices such as smart TV’s gives the potential to content marketing and branded media. But, an even more distinctive example for this can be a smart refrigerator.
While the smart appliance space is yet genuinely emerging and it is difficult to provide a statistical data right now, following are some exciting statistics that reason as to why one should keep these technologies on his sensor. Below are some facts about technology related to smart devices and applications in 2020:
- 31% of individuals aged 18 to 34 and 38% of individuals aged over 35 have stated that their main concern related to purchasing is based on the cost of smart
- Consumers that are aged more than 35 are highly worried regarding hacking and cyber security on smart appliances when compared with 18 to 34-year-olds.
- There is an expected decline in the cost of a smart-home device of nearly 52% by
- Nearly 58% of internet users own some type of smart device. 38% of those devices were smart TVs. The next most commonly owned devices were lighting (22%), thermostats (16%), security based systems (14%), and kitchen appliances (10%).
Augmented and Virtual Reality
For many years, researchers have assumed that virtual reality, which gives the users a totally vivid and connected 360 degree visual experience, will have the finest opportunities in gaming, amusement, and educational industries. Researchers believe increased certainty, a partly vivid yet connected experience, will help in branding and marketing of this technology. AR and VR can also improve the landscape of technology future in Pakistan and other countries across the world.
We have just looked at these AR and VR forecasts work out as planned as the gaming industry keeps on revealing games for VR headphones and brands have made use of AR for the purpose of permitting the consumers to view items like furniture in their own houses.
- As of 2019, the AR/VR market is estimated to be nearly $1.8 billion. The 43.1 million individuals in the U.S.A. have also used a VR product. 69 million used an AR device once
- In a 2018 research based in the U.K. and U.S., 90% of the participants did knew what VR was but only 65% of the individuals had awareness of what AR
- 42% of individuals that used a VR headset at least once a month said they used a mid- range device such as Samsung Gear VR or Google
- As of 2018, 89% of the companies that had a budget between $100 million and $1 billion were experimenting through different forms of AR.
As of 2020, Artificial intelligence (AI) has been so prevalent that the different ways through which we can interact on a particular day. There are other related technologies that require a specific type of AI algorithm to function effectively. The integration of AI with other industries can help to improve the technology future in Pakistan and other developing countries across the world. If you are not familiar with AI, there are facts about technology related to AI that you should be able to keep in mind:
- More than 42% of the companies across the world have successfully implemented artificial intelligence in some form or the other. The total number of industries implementing AI has grown by nearly 270% by
- It has been estimated that nearly 80% of all the emerging global technologies would comprise of AI by the year
- Nearly 40% of sales and marketing teams have stated that data science and machine learning AI would be an extremely essential part of their future business
- In a 2019 F8 summit that was covered by VentureBeat, Facebook stated that it has nearly 300,000 chatbots on Facebook
- 68% of companies across the world have stated they consider AI in the near future as a result of the pressure related to cost
- It is estimated that by 2020, customers would be able to manage nearly 85% of their enterprise relationships without being required to work or interact with
Voice Assistants and Smart Speakers
From a technological point of view, smart speakers and voice assistants could be stated as a voice command device that has an integrated virtual assistant that provides interactive actions and hands-free activation through the help of several hot words. Moreover, there are some smart speakers that also comprise of a screen to illustrate the user a visual response. Even though voice assistants are an important segment of AI, they have now become so essential in the local media that now they deserve their personal stats section.
Below are some of the technology facts 2020 related to voice assistants and smart speakers:
- More than 38% of consumers across the world own a smart speaker. Of those individuals that do possess a smart speaker, 54% are of the view their voice assistant is able to easily understand them in the manner in which they
- Almost 119 million people within the U.S.A use a voice assistant monthly across devices. Nearly 34% of individuals across the world who have not yet purchased a smart speaker are interested in purchasing
- One of the heaviest users of voice assistants are millennials. However, the overall usage of these smart devices has been growing across different age groups. A 2019 test comprised of Apple, Amazon, and Google voice assistants. They had been asked 800 questions each. Surprisingly all of them understood nearly 99% of those
- In 2019, Amazon had shipped nearly 7.2 million of its smart speakers. As a result, it was able to maintain the lead over its competitors such as Google.
- Amazon Alexa, the voice assistant associated with Amazon Echo smart speakers, now has over 100,000 Skills
- It is expected that by 2023, digital voice ecommerce will become an $80 billion
Big data could be defined as the huge amount of data sets collected from different sources. Such data sets cannot be stored, collected, or processed through the use of any existing traditional
tools as a result of their complexity and quantity. By integrating big data analytics tools, we can collect different types of data through different sources such as digital media, business apps, machine log data, web services, etc. Below are some of the big data technology facts 2020:
- By 2023, the big data analytics market will be worth $103
- Nearly 98% of all organizations across the world have been investing in AI and big
- By using big data, Netflix saves nearly $1 billion per year on customer
- The big data market is expected to increase by 23% at the end of
- It is expected that in 2020, almost every internet user will generate nearly 1.7 megabytes in just a
By 2020, it is expected that the entire world could be using a lightning-fast internet connection. There is no doubt in the fact that 5G technology will bring with itself massive benefits, such as lower latency, higher capacity, and high internet speed. Such benefits can result in making major technological trends that can be observed in 2020 and in the years to follow. The fact can’t be denied that the implementation of 5G technology can improve the technology future in Pakistan and other developing countries across the world.
Below are some of the 5G technology facts 2020:
- It is estimated that 5G could add nearly 10,000 times more internet traffic. Moreover, the 5G speed browser is expected to be 20 times faster when compared with 4G and will only have a millisecond of
- KPMG has predicted that 5G has the capacity for amplifying nearly all of the current technologies and will be able to garner an economic value of almost $4.3 trillion worldwide.
- Almost 204 operators from 85 different countries across the world have decided to invest in 5G networks. Most of the companies are investing in tests, pilots, and
- The global spending on 5G infrastructure is expected to reach $2.3 billion in
From a technological point of view, 3D printing could be applied across several businesses, from biomedical, design, low volume manufacturing, and production of prototypes. The 3D printing technology has been adopted at a massively high rate throughout several industries across the world due to its precision and cost-effectiveness. Below are some of the 3D printing technology facts 2020:
- The overall global spending on 3D Printing could reach nearly $26.7 billion by
- Some of the most popular 3D applications in the year 2018 were production (43%), prototyping (55%), and Proof of Concept Models (41%).
- Almost 93% of the companies that were able to employ 3D printing had gained a competitive edge by the means of shorter period
- 36% of the companies had utilized metal components for 3D printing in the year 2018 when compared with 28% in
- SME’s are some of the biggest users of online 3D printing services and comprise of nearly 75% of the world’s customer