Technology

• NB-IoT, now officially a member of the 5G family, will have a life cycle just like other 5G technologies and serve 5G massive IoT access in the coming decades.
• The global edge computing market will grow from USD 2.8 billion in 2019 to USD 9.0 billion by 2024, at a Compound Annual Growth Rate of 26.5%.
• National Grid's Future Energy Scenarios forecast the increase of electricity demand by up to 25% between now and 2038, with most new demand including low carbon technologies connected to LV networks.
• Global spending for protecting software and systems is forecast to reach US $ 133.7 billion in 2022, highlighting the need for new ways of tackling them.
• Global edge computing market is envisioned to reach $250.6 billion by 2024 at a CAGR of 12.5% between 2019 and 2024.
• Worldwide spending on cognitive and AI systems will reach $77.6 billion in 2022, up from $24 billion in revenue last year.
• Transitioning China's economic behemoth to carbon-neutrality within a few decades could cost $5.5 trillion, and require the widespread deployment of technologies that are barely in use today.
• The UK should embrace a range of new technologies to achieve its goal of net zero emissions by 2050.
• Investing in low carbon technologies and establishing an integrated energy system will be pivotal to achieving the legally binding net zero 2050 target for the UKCS and the wider economy.
• Mobile phone application processors, nearly all built with RISC-computing cores and technology licensed from ARM in the UK, are expected to account for 26% of total MPU revenue in 2020.
• Transitioning that economic China to carbon-neutrality within a few decades could cost $5.5 trillion and require the deployment of technologies that are barely in use today.
• With the UK government on track to meet its target of 40 GW of offshore capacity by 2030, offshore wind technology will play a significant role in meeting net zero targets.
• The worldwide edge computing market will reach $250.6 billion in 2024 with a compound annual growth rate of 12.5% over the 2019-2024 forecast period.
• Despite the economic recession and negative impact on technology investments, the IIoT platform's market is expected to continue its growth momentum in 2020, and during the forecasted years of 2020-2025.
• The National Grid has stated that by 2021, the cost of managing the UK's electricity supplies could double to £2 billion a year due to the growth of renewable technologies.
• Germany's VDA was warning before the coronavirus pandemic that the technology shift could lead to the loss of 70,000 jobs over the next decade.
• With an impressive CAGR of 67% (2020-2025), the market size for Blockchain technologies is expected to reach USD 40 billion in 2025 (from USD 3 billion in 2020).
• The COVID-19 Impact on Cloud Computing Market is expected to grow from USD 233 billion in 2019 to USD 295 billion by 2021, at a CAGR of 12.5% during the forecast period.
• Deploying renewable energy technologies is a key way to reduce emissions, but the EU's own Environment Agency warned in late 2019 that current policy efforts are insufficient to reach the 2030 and the 2050 (net zero) emissions targets.
• Airport shuttle operators must begin adding zero-emission shuttles to their fleets by 2027 and complete the transition to ZEVs by the end of 2035.
• The power of open banking is still relatively untapped and will be an area of massive growth in the next couple of years.

Last updated: 05 October 2020