From ancient times to the current, technology has revolutionized the way people live. While there are many other industries in which you can invest, it's best to keep an eye on technology trends to get the most out of your money.
As most emerging technologies are becoming more accessible, you may still be unclear about which ones are worth investing in. To make things easier, we've compiled a list of the top 5 developing technologies that are expected to expand and provide opportunities in 2021.
Take a look at the five most trending technologies to invest in for more significant or maximum returns.
1. Blockchain Technology
Though blockchain technology began with facilitating cryptocurrency transactions, it has since expanded to include applications in many fields. Payment settlements, smart contracts, supply chains, identity management, data management, and healthcare are some of the most common application cases.
Businesses that are building or planning to create the blockchain platform/technology in the future will have a wealth of chances. Those with in-depth knowledge and skills in digital technology, distributed ledger technology, and the regulatory needs of the blockchain system will be successful.
Therefore, blockchain technology is one of the most trending technologies to invest in, and investors should not ignore this technology.
2. Defi
Decentralized finance (also known as Defi) refers to digital, peer-to-peer financial technology that allows for crypto trading, loans, interest accounts, and other services. If done correctly, Defi is a great investment opportunity. Let us check out why Defi has made it to our list of top trending technologies to invest in.
The Defi market bears a striking resemblance to initial coin offerings (ICOs), a similar mania fueled by the Ethereum network a few years ago. For anyone who was there to see the exhilaration, it's clear that investing in cryptocurrencies came dangerously close to being equated with gambling.
The Defi sector grew faster in 2020, from $700 million in December 2019 to $13 billion in December 2020. Based on industry data from different sources and cryptocurrency exchanges, it has reached $40 billion this year.
When it comes to investing in the Defi market, trust isn't the only risk factor to consider. It is, without a doubt, the most relevant factor, but there are other aspects to Defi that are far more difficult to comprehend.
There is no denial that Defi is one of the top trendiest technologies to invest in, but before you invest, make sure you conduct a lot of research. Make sure the Defi project's team is reputable and credible before you invest.
Decentralized finance is a complex world to navigate. Users can make a lot of money in a short period of time, but they can also liquidate their entire portfolio simultaneously. Although the risks are significant, the quantity of opportunities is far greater.
3. Internet of Things
The Internet of Things (IoT) is a network of internet-connected objects that can gather and transmit data across a wireless network without the need for human interaction. The possibilities for progress in businesses are limitless.
The number of IoT devices and appliances is expected to more than double by 2030, from roughly 9 billion in 2020 to more than 25 billion. The predicted adoption of 5G coverage across the globe, whether through government initiatives or Elon Musk's Starlink network, which is growing by the day, is one reason for such rapid development.
The number and variety of IoT applications will expand, therefore looking at the promising realm for investors, IoT technology has found its way into our top trending technologies to invest in.
4. Extended Reality
Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), and other new technologies that integrate the real and virtual worlds to produce an immersive experience are referred to as Extended Reality (XR).
By 2022, the market for Extended Reality (XR) is estimated to be worth $209 billion. Immersive technologies that combine the real and virtual worlds are getting more appealing in the places where the digital ecosystem keeps growing. The Covid-19 epidemic, from the start of 2020, has acted as a catalyst for businesses using XR technology to revolutionize their operations.
According to Emergent Research's newest report, the international Extended Reality (XR) market is predicted to reach USD 1,246 billion in 2035, with a stable CAGR of 24.2 percent.
Increased expenditures in Augmented Reality (AR) and Virtual Reality (VR) technologies, as well as quick progress in numerous technologies and connected devices, are driving the Extended Reality (XR) industry to exponential success. This is why XR technology has made it to our listicle of top trending technologies to invest in.
5. 5G
The fifth generational mobile network is referred to as 5G. 5G wireless technology is designed to provide multi-gigabit per second peak data speeds, super-low latency, greater dependability, huge network capacity, enhanced availability, and a more consistent user experience to a more significant number of users.
On May 4, the Department of Telecommunications (DoT) in India permitted a 6-month trial of 5G technology. The Department of Telecommunications is likely to auction the airwaves for the 5G network in Q1 of FY 22-23, following a successful trial of the network and its accompanying services.
According to the recent report from the Global Mobile Suppliers Association, commercial 5G networks are operational in 61 countries. Australia, Canada, South Korea, the United States, and various European countries are among the countries that have enabled 5G technology for their citizens.
According to research firm IDC, the global edge computing market is expected to reach around $250 billion in 2024, with a compounded yearly growth rate of 12.5 percent over the next four years. 5G technology is projected to be a driving force behind industry expansion.
In India, investments are now being made in 5G technology. The global market for 5G technology and related services is at USD 53 billion in 2021 and is expected to grow to USD 249 billion by 2026, more than any country's GDP in a year. Therefore, 5G technology is one of the coolest and trendiest technologies to invest in.
Conclusion
So now we have reached the end of our list of top five trending technologies to invest in. Hopefully, it helps you to understand where putting money has the best chances of becoming a successful investment in the future.