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5 Tech Trends for Investment in 2020

While the world is heroically fighting the Covid-19 pandemic, technology continues to evolve. Isolation and living online have shown the importance of quality software solutions for business. Demand for products and services has changed, consumer behavior has changed, some industries have begun to develop more rapidly, and the level of investment in these areas has increased. As a software development company, we carefully monitor changes on the market, the demand for technology, the emergence of new trends, based on which we can draw conclusions about the best directions for investment in 2020. In this article, we have collected 5 of the most promising areas for investing money this year.

Telemedicine and telehealth

Of course, during a pandemic, healthcare has become the main industry for investment, both by the government, and private businesses. Also, medical care in isolation is a real challenge for the software development industry, which is expected to offer highly effective solutions. So, some directions received a new round of development:

Virtual care platforms (telemedicine) that expand access to care and treatment in a growing digital economy.
AI and data analysis technologies that improve diagnosis and help detect disease in the early stages.
Mobile apps and medical devices that can guide people who are suffering from chronic diseases.

Also, we should expect the development of telehealth. It’s important to understand the difference between telehealth and telemedicine. Telehealth belongs to a wider range of remote medical services than telemedicine. For example, telemedicine refers specifically to remote clinical services, and telehealth may refer to remote non-clinical services, such as the delivery of health information, education, and training of health workers.
Don’t miss the opportunity to contribute to the development of private medicine and get your bonuses in the near future.

Also Read: Technology Trends to be followed in 2020

Online Education

This is another hot topic of today. Even before COVID-19, there was a great demand for educational technology. According to Markets Insider, global ETech investments reached $18.66 billion in 2019. The numbers speak for themselves. Today, during the pandemic, the education sector is facing new challenges, and at the same time new opportunities for changing the education system. Along with distance learning systems, the training materials are changing. Already in the field of e-learning, more and more unusual, interactive educational materials using VR, AR, chatbots are emerging.

Experts predict the growth of online learning platforms and training mobile applications. Technology must support online learning, so video conferencing tools, collaboration software, streaming platforms are becoming popular areas for investment.

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FinTech

Talks about FinTech have been going on and on for the last 4 months. Some predict Fintech development, while others indicate the negative impact of the pandemic on the industry. According to CBInsights, venture financing of FinTech companies has significantly decreased amid the negative consequences of the coronavirus pandemic. However, experts also predict that if the activity of the American FinTech is measured by the current level, then the annual drop in the volume of this market will be insignificant compared with the previous year.

Anyway, no one is going to give up, so FinTech continues to occupy places in the top areas for investment. Today, many see fintech startups as the most powerful tool for achieving operational efficiency as one of the main competitive advantages.
The hottest FinTech areas today are digital financial platforms, core banking software, consumer P2P payment apps, mobility-based insurtechs, and so on. Blockchain-based alternative financial technologies are developing too. Blockchain development is actively used in ambitious startups that aim to show that blockchain technology really can be applied in the “real world”.

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Extended Reality

We can say that over the months of quarantine, our reality has changed. We are all living online now and using technology to open up the world. Extended reality is not just entertainment, but a way of consuming content. According to BRP’s 2018 Digital Commerce Survey, 32% of retailers plan to use virtual and augmented reality in the next three years. These facts show that businesses accepted the need for using technology and the transition to online, which means companies are ready to invest in this.

According to the latest market research reported by Technavio, the extended reality market is expected to grow by USD 176.74 billion during 2020-2024. Fast mobile networks will further increase the potential of VR and AR. Therefore, combining these technologies with 5G means that developers of VR and AR tools won’t have to provide their experience in a low-power environment. We’re waiting for new solutions not only for the entertainment industry, but also for healthcare, education, and marketing.

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Data Security

Obviously, the more our lives go online, the more personal data gets on the Internet. Cybersecurity is a trend of the last ten years, but in the context of a total transition to online, secure storage and data transfer play a key role in our lives.

Source: Lumus Vision | Augmented Reality Trends

Here are the main data security trends:

  • AI-powered security solutions. According to Cylance Blackberry, 75.2% of surveyed security professionals plan to use AI for cybersecurity defense. AI systems are becoming more complex and accessible, both for protecting information and for hackers, unfortunately. However, such solutions as deep learning security algorithms, automation of systems vulnerable to human errors are very promising for the development of cybersecurity.
  • Cloud security. For many years, it was believed that cloud technology was the most reliable way to store information. Recent studies show that this is not true. The data that we store in the cloud is not protected on our part from attacks, including human errors, malicious delete requests, phishing, and much more. Therefore, the issue of cloud security is very acute and requires improvements.
  • IoT security. Cyber ​​Security company estimated that by 2025 there will be more than 75 billion network devices on the Internet of Things, each of which will use its own software package, which creates additional reasons for concern about data security. However, IoT continues to evolve, which means revolutionary IoT security solutions are welcome.

Investments are always a risk, and only the entrepreneur himself can decide where to invest his money. However, you should remember that technology is our future that may come tomorrow with a new breakthrough solution. Good luck with your investment!

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Ridwan Oladimeji

Ridwan is an Industrial Chemist but his passion for technology made him chose to blog as a career. He owns Tech Empire Nigeria. He loves to travel and listen to music to unwind.

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