A research report by analysts at Citi Group looked at ten different technologies that are predicted to change the world, and the way in which companies do business. Some of these technologies are brand new inventions others that made it onto the list you might recognise but are set for improvements, or are going to become much more affordable opening them up to a whole new market of consumers.
Let’s take a look at some of the technologies:
Now available on the British high-street at retailer Maplin, 3D printing technology is becoming more affordable. 3D printing technology uses CAD computer software to follow a digital pattern or blueprint, the printer then creates layers of shapes to match the plan. These are built up on top of each other to create a 3D object. You can scan an object and the printer will recreate that exact object, or you can download blueprints for a specific item. The report predicted the market could grow to $6.5 billion in 2019.
Electronic cigarettes are battery powered devices which heat a nicotine e-liquid until it becomes a vapour that users can then inhale and exhale. They do not contain tobacco or tar and are not affected by the UK smoking ban. The number of people using these e-cigarette devices has seen a steady increase in the past couple of years; with one study predicting over 1 million people in the UK could be using them by the end of 2013.
How we view TV shows and films is changing. There has been a sharp increase in the number of people streaming content compared to viewing it through traditional TV networks. With companies such as Netflix, Amazon and Google all now offering streaming services more of us are choosing to stream what we watch. TV ratings have seen a 1.2% decline since 2010 and Netflix subscriptions over the same time period grew by 70%.
Mobile Payment Technology
This technology allows you to make payments through your tablet device or mobile phone. Already popular in Japan, with over six billion phone subscriptions taken out across the world mobile payment technology has a potentially huge market.
Energy Exploration Technology
New subsea and horizontal drilling technology means oil companies can now access areas that were previously unreachable and expand the supply of fossil fuels. The report predicted that subsea equipment has the potential to be a $100 billon per annum market by the next decade.
Compressed Natural Gas Vehicles
CNG vehicles replace petroleum with a natural gas alternative. Citi Group predicted that US sales for CNG vehicles could surpass 100,000 by 2020. So far, the Middle East has been one of the first places to embrace the switch to natural gas converting buses and taxis.