Vertex is honored to be partnered with firms like HP, who have been working, through their arm HP Tech Ventures, in some of the most innovative industries in the world; from smart manufacturing to the Metaverse. As a result of which, we are constantly keeping an eye out for new trends and technology that impact these industries.
Based on our areas of specialization, here are 5 trends our team will be watching out for through the rest of 2022:
- Smart factories: Advanced Manufacturing
Over the last few years, advanced manufacturing has grown tremendously, with many major manufacturers incorporating 3D printing and digital manufacturing into their operations. The pandemic, workforce constraints, and supply chain issues have prompted more businesses to see the potential of modern manufacturing capabilities.
As more businesses adopt innovative production techniques using software from providers like AMT and Twikit, we’re going to see a greater investment focused towards fully integrated and autonomous smart factories. Along with its ensuing problems, the pandemic caused discord in our society, which emerging technologies and start-ups have rushed to mend with amazing breakthroughs. Improved cloud computing, increased emphasis on cybersecurity solutions, and a faster pace of automation and AI are a few of them.
True smart factories are likely to be developed and powered in large part by these innovations.
- Artificial Intelligence: Supply Chain Management driven by AI
Since the pandemic started, labour shortages, transportation mishaps, and an imbalanced supply and demand have all disrupted the world’s supply chains. For most organizations, navigating these ongoing disruptions soon turned into a logistical nightmare. Enterprises are now increasingly investing in technologies like automation and AI that will make simplify supply chain management.
This is undoubtedly a category to keep an eye on, given that platforms like 7bridges are receiving funding and that 85% of supply-chain leaders struggle with insufficient digital technologies.
- Zero-Trust Security for Devices
During the pandemic, a significant portion of the world switched to remote work, therefore several companies rushed to implement new security measures into place to protect their systems. As cybersecurity threats increased dramatically, several organizations adopted the zero-trust model. Although zero-trust security is not a new concept, it is quickly taking over as the standard protocol for cybersecurity. After the White House issued an executive order in May 2021 asking for greater national cybersecurity, federal agencies are also using this framework.
With a majority of enterprises using this strategy, the zero-trust security industry is sure to experience rapid growth on a global scale. The global market, which was forecast to be worth $18.3 billion in 2020, is now expected to grow to $64.4 billion by 2027.
- Digital Health: Better Infrastructure and Technologies for Health Data
The past two years have been extremely challenging for the healthcare sector as it has tried to care for COVID-19 patients and get ready for unexpected situations. While there have been many significant advancements in healthcare throughout this period, data management continues to be a problem that both patients and entrepreneurs as well as healthcare professionals are focusing on. Healthcare data collection is a laborious task, and developing an infrastructure that serves both, the patients and healthcare professionals is just as challenging. On top of routine patient care and emergencies, obtaining important information from doctors’ notes, safeguarding patient privacy, and exchanging health data across platforms appears to be a practically impossible task.
Companies like Verana Health are stepping to offer solutions to make the collecting and management of medical data a seamless process in an effort to address this issue. Investors are interested in tools that will enable greater data-driven insights and choices.
- Edge Computing: Pressure from the Rise of IoT
By 2028, it is expected that the markets for IoT and smart home devices would have grown to staggering $1.8 trillion and $156 billion, respectively. This expansion, fuelled by the rise of wearable technology and home offices, will probably accelerate the development of edge computing as IoT devices generate more data and require more processing power.
By shifting away from more distant computing services, like the cloud, edge computing enables IoT to improve operational efficiency. It is better able to handle the massive volumes of data that these devices produce. For the ones that use wearable technology or remote repair services, this would lead to quicker processing times and more useful insights.
Startups like Mimik are developing solutions for this with the support of investors who see the advantages of improved edge data processing.
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