Tech, Media and Telecom (TMT) Predictions in 2024 - Thematic Intelligence
Description
Tech, Media and Telecom (TMT) Predictions in 2024 - Thematic Intelligence
Summary
Companies that invest in the right themes become success stories; those that miss the big themes end up as failures. Given that so many themes are disruptive, it is easy to be blindsided by industry outsiders entering your sector. To help businesses in the tech, media, and telecom (TMT) industry stay ahead of the competition and understand what 2024 will hold, GlobalData’s thematic analysts have produced the Tech, Media, & Telecoms Predictions 2024 report.
This report identifies the top 40 themes that will impact the TMT industry in 2023. In it, our analysts predict how each theme will develop in 2023, provide infographics using data from GlobalData’s intelligence centers, identify winners and losers, and point you toward further reading. This report will help you to understand and identify the important themes that threaten to disrupt your business in 2024. Opportunities await those who can exploit the benefits of each theme.
Key Highlights
Generative AI will impact every industry. We forecast the generative AI market to grow from $1.8 billion in 2022 to $33 billion by 2027, implying a CAGR of 80% during this period. Of the five advanced AI technologies, generative AI is the fastest growing and will account for 10.2% of the overall AI market in 2027. GlobalData estimates the total AI market will be worth $908.7 billion in 2030.
Environmental, social, and governance-or ESG-is moving into a new era, which we call ESG 2.0. In this second phase, there will be a greater focus on the ‘E’ component, with a shift from a voluntary regime to a mandatory one, driven by government mandates rather than consumer pressure.
Throughout 2023, the US export bans on advanced technology progressively choked China’s access to the high-end chips, such as graphics processing units (GPUs), necessary for AI development. Global chip manufacturing is moving fast. As the computing power necessary to train the latest AI models increases rapidly, Chinese companies will be held back by less powerful GPUs. For years, Beijing has been mobilizing national resources to develop competitive AI firms while striving for chip self-sufficiency, with modest success. China will break through in certain industry-specific AI and tech hardware applications. However, by the time China produces high-end chips to the same level as the US, it may be too late for Chinese AI companies to catch up with US AI companies like OpenAI, which have benefited from high-end chip availability.
Scope
- Analysis of the 40 most important themes impacting the TMT sector, classified into three groups: technology, macroeconomic, and ESG. These include AI, cybersecurity, China, batteries, and inflation.
- The report includes quantitative and qualitative predictions for each theme in 2024, including market forecasts. Infographics are provided for each theme to justify key predictions using survey results and data from GlobalData’s patents, jobs, deals, company filings, and social media analytics databases. Winners and losers are identified in each theme using data from thematic scorecards, driven by GlobalData’s unique thematic methodology.
- Position yourself for future success by investing in the TMT industry's most important tech, regulatory, and macroeconomic themes. In this report, GlobalData’s analysts provide guidance on how to improve your standing in each theme.
- Source the leading vendors for the most disruptive themes in the TMT industry from our lists of winners and shortlist potential partners based on their areas of expertise.
- Quickly identify attractive investment targets by understanding which companies are the most advanced in the themes that will determine future success in the TMT industry.
- Quantify the global sales opportunity for disruptive tech services by accessing GlobalData’s market forecasts, produced by technology, healthcare, automotive, retail, banking, aerospace, defense, and security analysts.
Table of Contents
107 Pages
- Executive Summary
- Top Themes for 2024
- Viewing the world’s data by theme helps you make important decisions
- Artificial Intelligence
- Generative AI’s rapid growth will continue
- AI will fuel an information battle in 2024 and beyond
- AI-led business models will transform the way companies operate
- Regulation will drive new trends, such as constitutional AI
- Winners and losers
- Further reading
- ESG 2.0
- Companies will need help reporting Scope 3 emissions
- Emissions pricing will spread
- At least one major tech firm will be fined for greenwashing
- Winners and losers
- Further reading
- China
- Chinese AI companies will not be able to compete with their US rivals
- China will remain the world’s manufacturer, but growth will remain weak
- China will lead the world in 5G
- Winners and losers
- Further reading
- AI Regulation
- By 2025, China and the EU will have the most advanced AI legislation
- Companies will increase AI model transparency, but regulators will not be satisfied
- Bad actors will use AI to disrupt national elections in 2024
- Winners and losers
- Further reading
- Batteries
- The Li-ion battery market will grow by 200% between 2022 and 2030
- LFP batteries will disrupt the battery market
- Sodium batteries will alleviate the pressure on lithium supplies
- There will be a battery shortage in 2024
- Winners and losers
- Further reading
- The US …..
- The US economy is heading for a soft landing
- US companies will reshore supply chains to reduce geopolitical risk
- Continuation and further weaponization of US chips
- Winners and losers
- Further reading
- Tech Regulation
- In 2024, social media giants will receive EU fines for sharing misinformation
- GDPR-related fines will continue to increase in 2024
- The Digital Markets Act poses the largest threat to digital monopolies
- China’s regulatory landscape will remain unpredictable in 2024
- Winners and losers
- Further reading
- Cybersecurity
- Generative AI will increase the risk of social engineering attacks
- Uses of AI in cybersecurity technology will diversify
- Extreme pressure on CISOs will continue in 2024
- Tighter regulation will enforce EU cyber compliance
- Winners and losers
- Further reading
- India
- AI innovation will accelerate as regulators take a wait-and-see approach
- Connectivity will continue to improve, driving up smartphone penetration
- The software sector will grow rapidly, supported by programs like Digital India
- Winners and losers
- Further reading
- Inflation
- Inflation will fall worldwide as Europe and the UK narrowly avoid a recession
- The era of cheap money is over
- The AI revolution will shield early adopters from macroeconomic challenges
- Winners and losers
- Further reading
- 3D Printing
- 3D printing will not achieve standardization and mass production in 2024
- Companies will invest in more rigorous cybersecurity measures
- Innovation in bioprinting will accelerate as medical applications increase
- Winners and losers
- Further reading
- Agritech
- AI will drive the fourth agricultural revolution
- AI will provide new methods of plant breeding
- Greater connectivity is essential for digital transformation in agriculture
- Winners and losers
- Further reading
- AI Chips
- The semiconductor industry will return to growth
- Decreased reliance on Nvidia as companies develop chips in-house
- The US will increase supply chain reshoring
- Winners and losers
- Further reading
- Blockchain
- Blockchain moves beyond the hype with real-world applications
- Financial firms will dive further into tokenized assets
- Enterprise blockchain development will move in-house
- China will play an important role in enterprise blockchain adoption
- Winners and losers
- Further reading
- Cloud Computing
- The cloud computing market will be worth $1.4 trillion by 2027
- AI will have a transformative effect on cloud computing in 2024 and beyond
- FinOps will become standard practice
- The edge computing market will be worth $32 billion by 2027
- Winners and losers
- Further reading
- Consumer Internet of Things
- Apple’s Vision Pro will make headlines, but its price will deter many consumers
- Smart security systems and smart thermostats will be a priority in automated homes
- Increased 5G availability will drive vehicle-to-vehicle interaction in connected cars
- Winners and losers
- Further reading
- Critical Minerals
- Net-zero targets will continue to put pressure on critical mineral markets
- China will continue to dominate the critical mineral supply chain
- Pressure on lithium supplies will be eased by alternatives
- Recycling will become an important part of supply chain diversification
- Winners and losers
- Further reading
- Cryptocurrencies
- The third cryptocurrency winter will end in 2024
- The SEC will approve the first spot crypto ETFs
- The US will attempt to produce a clear regulatory framework
- Winners and losers
- Further reading
- Decarbonization
- Decarbonization solutions will become big business
- Tech companies will aim to scale up carbon removal technologies
- The US and EU will fail to close the green technology gap with China
- Winners and losers
- Further reading
- Edtech
- Generative AI will transform teaching and learning
- Virtual and augmented reality-based education will begin but will face hurdles
- AI will drive an edtech M&A rebound in 2024
- Winners and losers
- Further reading
- Electric Vehicles
- Annual global EV sales will surpass 50 million units by 2028
- China will remain the dominant force in the global EV market in 2024
- Chinese BEV exports to Europe will continue despite an EU investigation
- Competition will increase with more BEV models coming to market
- Winners and losers
- Further reading
- Enterprise Internet of Things
- The global enterprise IoT market will generate $1.2 trillion in revenue by 2027
- IoT will morph into the AI-powered internet of everything
- Sustainable power requires wider adoption of smart grid technology
- Winners and losers
- Further reading
- Fintech
- Fintechs will prioritize profitability
- AI-based credit checks will transform digital lending
- Embedded finance will drive the adoption of super-apps
- Winners and losers
- Further reading
- Frictionless Commerce
- Frictionless commerce lets retail customers walk out without checking out
- Cheap silicon sensors will make frictionless commerce affordable
- Radio-frequency identification will support the growth of frictionless commerce
- Frictionless commerce will provide new space for data collection
- Winners and losers
- Further reading
- Future Connectivity
- 5.5G will bridge the gap between 5G and 6G
- 6G development will integrate AI and metamaterials into mobile networks
- Starlink will dominate the satellite market for ubiquitous connectivity
- Winners and losers
- Further reading
- Future Mobility
- In 2024, partial driving automation will be widespread
- Limited aerial ridesharing will not start until 2028, but production will begin in 2024
- Autonomous transport as a service will be available by 2027
- China will lead in AVs by 2035
- M&A deal activity will continue to decline in 2024
- Winners and losers
- Further reading
- The Future of Work
- Generative AI will bring opportunities and challenges
- Talent availability, retention strategies, and upskilling will remain top of mind
- Renewable energy and green transition will drive demand for new jobs in 2024
- Winners and losers
- Further reading
- Gaming
- The gaming industry will be worth $279 billion in 2024
- Generative AI will make its mark
- Metaverse gaming will remain niche but trigger M&A activity
- The Nintendo Switch 2 and Sony PS5 Pro consoles will debut
- Winners and losers
- Further reading
- Generation Z
- Gen Z will continue to demand workplace flexibility
- Gen Z will drive investment in sustainable strategies
- Gen Z will fuel a rise in the power of micro-influencers
- Winners and losers
- Further reading
- Healthtech
- Drug discovery will benefit from the implementation of generative AI
- Precision and personalized medicine drug market will expand rapidly
- Challenges must be addressed for digital therapeutics to reach their potential
- Winners and losers
- Further reading
- Japan
- 5G penetration will reach 68% by 2024
- A falling population will lead to increased reliance on automation
- Japan will make significant developments toward Society 5.0
- Winners and losers
- Further reading
- The Metaverse
- The metaverse winter will continue in 2024
- Enterprises will adopt the metaverse with a focus on the future of work
- New metaverse devices will intensify market competition
- Regulations will be regional but will address common concerns
- Winners and losers
- Further reading
- Quantum Computing
- The quantum computing market will be worth $10 billion by 2030
- Post-quantum cryptography (PQC) will be standardized in 2024
- 1,000 qubits reached, more logical qubits to come
- A publicly traded quantum computing company will be delisted in 2024
- Winners and losers 7
- Further reading 7
- Robotics
- Demand for workplace automation will continue to grow
- AI will help reduce the cost of robots
- Service robots will drive growth for the robotics industry
- Exoskeletons will be the fastest-growing robotics market
- Winners and losers
- Further reading
- Social Media
- Social media giants will face increased content moderation challenges
- Social media’s ad-funded business model is under threat
- Digital authoritarianism will rise
- Winners and losers
- Further reading
- The Space Economy
- The space economy will be worth between $760 billion and $1 trillion by 2030
- Geopolitical competition will escalate in space
- The Earth observation industry will take off
- Governments will beef up their efforts to tackle space debris
- Winners and losers
- Further reading
- Supply Chain Disruption
- Further cost increases are inevitable as onshoring and friendshoring accelerate
- India will benefit from the shift out of China
- National champions will be big winners of the new supply chain world order
- Supply chains will become increasingly automated
- Winners and losers
- Further reading
- Synthetic Biology
- A steadily emerging industry prepares for a decade of growth
- Tech companies will trial future-proof DNA data storage at a preliminary level
- China’s focus on biosynthetic food will pave the way for collaboration with Singapore
- Australia will gain a competitive edge in synthetic biology as an early investor
- Winners 7
- Further reading 7
- Ukraine Conflict 8
- After stabilizing in 2023, war-related global economic risks will pick up again 8
- Media and tech companies will come under pressure to support war aims 8
- Digitized technologies will dominate defense procurement 8
- Winners and losers
- Further reading
- Video Streaming
- Video streaming services will increasingly promote ad-based models
- Subscription fatigue will affect all platforms, especially the smaller ones
- Artificial intelligence will benefit large streamers but also bring risks
- Winners and losers
- Further reading
- Glossary
- Data Sources 8
- Further Reading 9
- GlobalData reports 9
- Our Thematic Research Methodology
- About GlobalData
- Contact Us 7
- List of Tables
- Table 1:Glossary
- Table 2: GlobalData database
- Table 3: GlobalData reports
- List of Figures
- Figure 1: The biggest themes driving growth in the TMT industry in 2024
- Figure 2: Artificial Intelligence
- Figure 3: ESG 2.0
- Figure 4: China
- Figure 5: Key phases in the development of generative AI:
- Figure 6: Batteries
- Figure 7: US
- Figure 8: Tech Regulation
- Figure 9: Cybersecurity
- Figure 10: India
- Figure 11: Inflation
- Figure 12: 3D Printing
- Figure 13: Agritech
- Figure 14: AI Chips
- Figure 15: Blockchain
- Figure 16: Cloud Computing
- Figure 17: Consumer Internet of Things
- Figure 18: Critical Minerals
- Figure 19: Cryptocurrencies
- Figure 20: Decarbonization
- Figure 21: Edtech
- Figure 22: Electric Vehicles
- Figure 23: Enterprise Internet of Things
- Figure 24: Fintech
- Figure 25: Frictionless Commerce
- Figure 26: Future Connectivity
- Figure 27: Future Mobility
- Figure 28: The Future of Work
- Figure 29: Gaming
- Figure 30: Generation Z
- Figure 31: Healthtech
- Figure 32: Japan
- Figure 33: The Metaverse
- Figure 34: Quantum Computing
- Figure 35: Robotics
- Figure 36: Social Media
- Figure 37: The Space Economy
- Figure 38:Supply Chain Disruption
- Figure 39:
- Figure 40:Ukraine Conflict
- Figure 41: Video Streaming
- Figure 42: Our five-step approach for generating a sector scorecard
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