In the technology space, it’s vital that your organization stay on top of prevailing trends in your respective industry. This extends to keeping tabs on the competition or, if you’re seeking a solution provider, weighing your options. That’s why ABI Research released its 40 Technology Companies To Watch In 2023 whitepaper to better understand which tech firms are winning in terms of innovation and implementation of their technology products/software.
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More than 50,000 technology innovators and decision makers rely on ABI Research for deep insight and analysis of transformational technologies and key markets. In addition, we also provide an impartial and expert perspective on the companies that are shaping these technologies and industries.
The necessity of safety standards for industrial robots has never been more apparent. Industrial robot systems are increasingly more common in manufacturing and logistics applications. By 2030, ABI Research expects nearly twice as many annual industrial robot shipments as in 2022—increasing from 436,000 units to 815,000 units.
Momentum for the metaverse continues to grow. A recent article on hospitalitynet cited some interesting survey results. The findings indicated that 82% of U.S. enterprise executives expect to incorporate metaverse applications into their business activities and plans within the next three years, while half of consumers feel excited about this virtual space. The opportunities are extensive, for everything from gaming to e-commerce, and from industrial digital twins to customer care. To make these immersive experiences all possible, there are six underlying technology pillars powering the metaverse:
By 2027, ABI Research forecasts the installed base of Artificial Intelligence (AI)-enabled cameras to be 976.4 million, signaling a growing need for machine vision technologies. Today’s companies offering machine vision solutions are vital to the betterment of a number of applications, encompassing manufacturing, smart cities, building development, public safety, logistics, and transportation. An abundance of modern Machine Learning (ML)-based software products are embedded with edge ML capabilities that vastly improve a wide range of use cases, notably image-based inspection. This means a robotic system with an installed camera stacks pallets correctly or a flaw on a product's surface can be detected. To give you a better idea of how these systems work and who is providing them, this post highlights eight machine vision software companies that are helping enterprise customers work more efficiently.
Consumers are showing a growing preference for contactless payments, which is pushing many regions toward a cashless economy. For example, Pew Research Center notes that 4 in 10 Americans (41%) have stopped using physical cash for weekly purchases, which is nearly double the number in 2015. Not only would a cash-free society make everyday transactions a lot easier for consumers, but it is also bound to reshape the banking and financial services space. As confirmation that the world is migrating to digital-first payments, consider that the global mobile wallet installed base will increase by 2 billion in just 5 years—climbing to a total installed base of 5.6 billion by 2027, according to ABI Research. We also forecast alternative forms of payment—instant payments, digital wallets, and QR payments—to account for US$142 trillion worth of transactions by 2030.
Europe, being one of the most developed and affluent regions in the world, will play a key role in the widespread 5G rollout. Europe is at the forefront of smart cities, campus lab testing, sustainability, and telecommunications innovation, not to mention the consumers, manufacturers, and various industrial enterprises that seek an improved mobile experience and/or must run automated systems on a private network. Each of these applications, among many others, will use 5G coverage as the backbone for myriad use cases.
Recently, ABI Research wrote a research report taking a deep dive into the current public safety network environment. One of the main highlights was that, while 4G/Long Term Evolution (LTE) cellular broadband is efficient in public safety use cases, 5G is fast approaching the emergency services space. The superior positioning, latency, and reliability of a 5G network will enable emergency services and emergency response teams to work more efficiently, gather better situational awareness, and accomplish the ultimate goal—save lives by reducing response times.
The first step toward the smart power tool was the advent of the connected power tool. These intelligent tool systems provide manufacturers, construction companies, and Do-it-Yourself (DIY) consumers with valuable data about their power tools, as well as various levels of automation like smart drilling/torque settings. Although the smart power tool market is immature, there are a number of reasons why the market will grow in the coming years, notably the practical application of tool data.