Top modern trends are expected to drive technology providers in 2022 and beyond.

The technology industry has evolved dramatically over the last five years, with many new trends impacting companies large and small. Here are just a few of the top trends driving technology providers in 2022.

Big data and machine learning

Big data and machine learning have proven extremely useful for companies in various industries, allowing them to parse volumes of information. Businesses that use these technologies will be able to promptly identify insights and trends, leading to more effective decision-making.

Beyond uncovering patterns that would be too subtle or time-consuming for humans to find on their own, big data and machine learning can also determine how to take advantage of market opportunities.

Artificial intelligence

AI is poised to transform supply chains and personalize services like never before. This market will grow exponentially. Enterprise has already used AI to improve customer experience, optimize operations, and make more effective business decisions.

The application of AI is now becoming more established amongst customers, resulting in a flood of new opportunities for technology providers.

Internet of Things

In recent years, the Internet of Things (IoT) has been a top driver for technology spending, with many companies looking to capture market share and get ahead of competitors.

With an estimated 26 billion connected devices by 2020, according to a study by IDC, IoT is expected to be an essential driver for technology spending over the next several years. According to IDC, by 2022, IoT-driven hardware spending is projected to reach $282 billion globally.

Blockchain

Blockchain will impact businesses similar to the cloud in recent years. By helping companies avoid fraud and increase transparency, blockchain will allow businesses to become more efficient with their resources.

While it’s hard to predict how technology like blockchain will be used in the industry over time, we can identify trends based on an organization’s need for security, accountability, and transparency.

The business world is evolving at a faster pace than ever before. Business owners who adapt to new technologies and ways of doing things will be set for success in five years.