Tech Trends 2021

By: Bank Of Baroda
Wed Dec 30, 2020
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Every year, the technology trends seem to emerge more rapidly. But the Covid-19 pandemic has augmented technology growth and uptake like never seen before. The pandemic has forced businesses and individuals alike to adjust to the new normal.

During this process, some technological innovations have evolved much faster than they would otherwise have. As digital collaboration, remote work and videoconferencing became a part of our lives, the need for better internet speed has become all the more real. It is already clear enough that 5G could become real in 2021.

The World Economic Forum, quoting IHS Markit research, anticipates 5G, to reach a global economic output of $13.2 trillion and generate 22.3 million jobs by 2035.

The uptake of wearable devices has been on the rise but with the covid19 push, there are innovative use cases being brought to the forefront. Apart from covid19 detection and contact tracing, the wearable tech is being used in a big way for sports and home fitness.

Companies like Peloton have defined the “new normal,” with at-home athletics becoming synonymous with smart workout devices, wearables and remote competitions and leaderboards — with everyone tuning in from their living rooms.

The recent Strategic Technology Trends for 2021 report by Gartner talks about Internet of Behaviour (IoB) as an upcoming trend that we’ll hear more of in 2021. It combines existing technologies that focus on the individual directly – facial recognition, location tracking and big data for example – and connects the resulting data to associated behavioural events, such as cash purchases, device usage etc. The distributed cloud model will see further uptake in 2021, as the model provides businesses with greater flexibility by moving workloads between cloud solutions as needs and costs of a business fluctuate.

According to Interpol, the Covid-19 crisis has created an unprecedented opportunity for cybercriminals to increase their attacks. As organizations accelerate digital business, security must keep pace with the rapid change. Cybersecurity mesh enables a security model that maintains the pliability necessary to operate in the current conditions and offers security without hindering growth for the company. These tools are already being deployed in some capacity by leading organizations and the tech is likely to see further growth in the coming year. With the boundary between the physical and virtual worlds rapidly disappearing, we are learning to use technology for reimagining the workplace, creating more insightful experiences and bolstering human initiatives.

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