Smart manufacturing spend climbs over US$950 billion in 2030
Feb 13, 2022
The COVID-19 pandemic quickened the pace of digital transformation, placing technologies at the very center of how people live and work--and that pace shows no signs of slowing down. In its new whitepaper, 38 Technology Stats You Need to Know for 2022, global technology intelligence firm ABI Research has identified and highlighted the most impactful forecasts that illuminate the direction in which digital transformation is truly heading.
“From among the many millions of data points ABI Research creates each year, we have focused on the most enlightening stats that will matter most in the years ahead. The rise of always-on 5G portable devices, an explosion of edge AI adoption, a proliferation of smart manufacturing platforms, the formation of the metaverse, and a growing concentration on cybersecurity are just some of the many changes on the horizon that are indicative of a more connected, more vulnerable, and ultimately, more technology-driven world,” Stuart Carlaw, Chief Research Officer at ABI Research explains.
Some stats highlighted in the whitepaper include:
5G Devices, Smartphones, & Wearables: It is expected that dozens of always-on 5G portable device models will hit the market in 2022 when sales of these 5G devices will exceed US$12 million, growing to US$46.5 million by 2026. “The always-on 5G connected portable device market, including tablets and notebooks, will also be buoyed by the emergence of new types of mobile consumer and business applications specifically designed for this type of device, as well as access to a plethora of online mobile applications that can be ported from the smartphone world,” explains Research Director David McQueen.
AI & Machine Learning:
The edge AI ecosystem market, which is comprised of edge AI chipset suppliers, development platforms, turnkey service providers and Software-as-a-Service (SaaS) companies, is expected to nearly triple in the next five years. “Estimated to be a US$15 billion market in 2021, the market is expected to grow to close to US$45 billion by 2027,” forecasts Principal Analyst Lian Jye Su.
Industrial & Manufacturing:
Spending on smart manufacturing will grow from US$345 billion in 2021 to more than US$950 billion in 2030. “As manufacturers advance their digital transformation initiatives, they drive up spending on smart manufacturing with investments in factories that adopt Industry 4.0 solutions like AMRs, asset tracking, simulation, and digital twins,” Research Director Ryan Martin says.
Metaverse Markets & Technologies: Content Delivery Network (CDN) revenues will increase from US$10.4 billion to in 2021 to US$25.2 billion in 2030. For all the hype the metaverse receives around virtual worlds and assets, it is the build-up to this interconnected future where the physical and digital are merged that deserves more attention. According to Principal Analyst Michael Inouye, “Trends across digital media and advertising, immersive, hybrid workforces, and evolutions in technology (i.e., 5G advanced and upcoming 6G) are all coming together to change how we consume content, work, access services, and communicate.”
Global 5G Security revenue will grow from US$2.067 billion in 2021 to US$11.689 billion in 2026 with a CAGR of 41.4%. “Network Security Technologies will be in strong demand to secure the 5G mobile infrastructure and to provide new security value propositions to enterprise clients, especially as URLLC and mMTC applications emerge,” predicts Research Director Michela Menting.
“While there are still fundamental challenges ahead–political tumult, an entrenched endemic, and a broken supply chain–these statistics should provide insights and actionable data needed to chart a successful course in 2022 and beyond,” Carlaw concludes.
Download the whitepaper, 38 Technology Stats You Need to Know for 2022, to learn more.
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