IHS Markit: Top Eight Technology Trends for 2018

 04 Jan 2018 04.01pm

IHS Markit, a business information provider, has surveyed its leading technology experts to find out the top eight technology trends for 2018.

From the Internet of Things to the cloud to artificial intelligence, industries are seeing a new wave of technologies that have the potential to transform and significantly impact the world around us.

For its latest white paper, IHS Markit has found out how these technologies are coming together in new and powerful ways to fundamentally change businesses, fuel innovation, disrupt industries and create both threats and opportunities.

The top eight transformative technologies for the global technology market in 2018, as identified in the IHS Markit report, are as follows:

 

Trend #1: Artificial intelligence (AI)

AI has matured to the point where it is being used as a competitive differentiator in several industries, particularly in the smartphone, automotive and medical markets. Also, optimization for on-device versus cloud-based solutions is becoming an area of focus. Cloud AI has more computing power to analyze data as it utilizes deep learning algorithms, but there are potential issues around privacy, latency and stability. On-device AI, meanwhile, can help offset those dangers to some degree. For instance, smartphone users who deploy the built-in AI of their phones are able to store data locally and thus safeguard their privacy.

Related Port Technology technical paper: Rich Ceci, Port of Virginia, and Oscar Pernia, Navis, explore why realizing the full potential of operational performance for automated terminals is taking so long

 

 Trend #2: Internet of Things (IoT)

The global installed base of IoT devices will rise to 73 billion in 2025, IHS Markit forecasts show. Accelerating IoT growth in 2018 and movement through a four-stage IoT evolution — “Connect, Collect, Compute and Create” — will be the confluence of enhanced connectivity options with edge computing and cloud analytics.

Enhancements in IoT connectivity, such as low-power wireless access (LPWA) will drive growth. Moreover, technologies adjacent to the IoT will become increasingly sophisticated. Machine video and ubiquitous video will empower new types of visual analytics. And AI, the cloud and virtualization will help develop critical insights sourced from data at the so-called “edge” of computing networks. Applying AI techniques to data will drive monetization in the form of cost savings, greater efficiencies and a transition from product- to service-centric business models.

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Trend #3: Cloud and virtualization

Cloud services will pave the way for technologically immature companies to utilize machine learning (ML) and AI, radically transforming their usage and understanding of data.

Related Port Technology technical paper: Dr Yvo Saanen, Commercial Director, TBA, and Frieda Zutt, Senior Consultant, TBA, explain how to use intelligent TOS plug-ins to increase terminal performance

 

Trend #4: Connectivity

As the first 5G commercial deployments emerge, the story will focus on connectivity. However, the path to full 5G adoption and deployment is complicated, with new opportunities and challenges alike in store for mobile network operators, infrastructure providers, device manufacturers and end users. 5G represents a dramatic expansion of traditional cellular technology use cases beyond mobile voice and broadband, to include a multitude of IoT and mission-critical applications.

Related Port Technology technical paper: Brent Bruun, Executive Vice President of Mobile Broadband, KVH Industries tells you how to connect between ship and shore

 

Trend #5: Ubiquitous video

The growing use of screens and cameras across multiple consumer- and enterprise-device categories, along with increasingly advanced broadcast, fixed and mobile data networks, is powering an explosion in video consumption, creation, distribution and data traffic. More importantly, video content is increasingly expanding beyond entertainment into industrial applications for medical, education, security and remote controls, as well as digital signage.

Related Port Technology technical paper: Tjerk Smit, Frontend Developer, De Voorhoede, reveals how Google Glass met the container terminal

 

Trend #6: Computer vision

The increasing importance of computer vision is directly tied to the mega-trend of digitization that has been playing out in the industrial, enterprise and consumer segments. The proliferation of image sensors, as well as improvements in image processing and analysis, are enabling a broad range of applications and use cases including industrial robots, drone applications, intelligent transportation systems, high-quality surveillance, and medical and automotive.

Related Port Technology technical paper: Dr Eva Savelsberg, Senior VP, INFORM GmbH, explains how more and more tasks are coordinated simultaneously with permanent and unplannable changes

 

Trend #7: Robots and drones

The global market for robots and drones will grow to $3.9 billion in 2018. The deeper underpinnings of the story, however, lie in the disruptive potential of robots and drones to transform long-standing business models in manufacturing and industry, impacting critical areas such as logistics, material picking and handling, navigational autonomy and delivery.

Related Port Technology technical paper: Olaf Merk, Organisation for Economic Cooperation and Development (OECD), explains why one of the biggest political issues of the coming decades is the future of work

 

Trend #8: Blockchain

Blockchain enables decentralized transactions and is the underlying technology for digital currency such as bitcoin and ether. Blockchain-based services beyond financial services are already being developed and deployed and will continue to ramp in 2018. These include: the use of blockchain to improve advertising measurement and combat ad fraud; blockchain-based systems for distributing music royalty payments; and solutions to better track and manage electronics supply chains. 

Related Port Technology technical paper: Karim Jabbar, Department of Computer Science, University of Copenhagen, and Deanna MacDonald, CEO, Blockchain Labs for Open Collaboration, have explained how an interoperable blockchain-enabled, DLT-based system could be used for shipping

Read more: Inna Kuznetsova, President and CCO at INTTRA — the largest neutral electronic transaction platform, software and information provider in the ocean shipping industry — has revealed how she envisions artificial intelligence (AI) will impact the global supply chain

  Automation and Optimisation , Automated Decision Making, Digitalisation, Process Automation, Robotisation, TOS and Gate Control Systems, Container Handling, Automation Systems, Global Economy/Trade, Security and Logistics, Shipping