A new research report published by analysts at Citi group investment bank looked technologies predicted to change the world, and the way companies do business. The report came up with ten different technologies and covered a variety of sectors including energy, entertainment, manufacturing and IT.
Some of the technologies the report highlighted have been around for a while but will be improved in the near future or previous costs will be significantly lowered making them accessible to a wider proportion of people. Other featured technologies are new inventions.
Electronic cigarettes featured in these ten world changing technologies. Citi bank estimated a 50% annual growth in the e-cigarette market over the next couple of years. At Intellicig we believe electronic cigarettes are going to completely revolutionise smoking. The number of people vaping using e-cigarette devices has seen a steady increase and looks set to continue to rise with the BBC predicting 1 million people will be using them by the end of 2013.
Let’s take a look at some of the other technologies that made it onto the report:
- 3D printing. Falling prices and improved easier to use software mean the 3D printing industry is set for rapid growth. Citi bank estimated that the 3D printing market could grow to $6.5 billion in 2019.
- Mobile payment technology. Already big in Japan and a number of other emerging markets. The technology allows payments to be taken or made through tablets and mobile phones. With six billion phone subscriptions currently across the world, mobile payments present a potentially huge market.
- Energy exploration technology. Subsea exploration and horizontal drilling are just some of the technologies set to allow oil and gas companies access to previously unobtainable areas and expand the supply of fossil fuels. Subsea equipment has a predicted worth of $100 billion per annum over the next ten years.
- Compressed natural gas vehicles. CNG vehicles are beginning to make an appearance in many cities across the world, with the Middle East been one of the first places to embrace the switch from oil to natural gas and converting buses and taxis.
- Streaming technology. The way we view entertainment is changing with a sharp increase in the streaming of TV shows and films, compared to viewing through traditional networks and distributors. Companies allow you to stream web video content direct to your TV. With Netflix, Amazon and Google all getting into streaming and producing their own TV shows, will it be the end of traditional TV? TV ratings have seen a 1.2% decline since 2010, while subscriptions to Netflix grew 70% across the same period. With increased internet speeds and mobile device technology this is a market that certainly looks set for continued growth and expansion.
- Solar technology. The cost of solar panels and installing them has become considerably cheaper and more affordable. Forecasts have suggested solar power will receive $1.3 trillion in investment between now and 2035, representing 13% of all total global investment in power generation.