Smart Manufacturing Spend to climbs over USD950 billion in 2030

The COVID-19 pandemic quickened the pace of digital transformation, placing technologies at the very center of how people live, work and that pace shows no signs of slowing down.

“The rise of always-on 5G portable devices, an explosion of edge AI adoption, a proliferation of smart manufacturing platforms, the formation of the metaverse, and a growing concentration on cybersecurity are just some of the many changes on the horizon that are indicative of a more connected, more vulnerable, and ultimately, more technology-driven world,” Stuart Carlaw, Chief Research Officer at ABI Research explains.

Some stats highlighted from the whitepaper, 38 Technology Stats You Need to Know for 2022, published by firm ABI Research-

5G Devices, Smartphones, & Wearables: It is expected that dozens of always-on 5G portable device models will hit the market in 2022 when sales of these 5G devices will exceed USD12 million, growing to USD46.5 million by 2026. The always-on 5G connected portable device market, including tablets and notebooks, will also be buoyed by the emergence of new types of mobile consumer and business applications specifically designed for this type of device, as well as access to a plethora of online mobile applications that can be ported from the smartphone world.

AI & Machine Learning: The edge AI ecosystem market, which is comprised of edge AI chipset suppliers, development platforms, turnkey service providers and Software-as-a-Service (SaaS) companies, is expected to nearly triple in the next five years. “Estimated to be a USD15 billion market in 2021, the market is expected to grow to close to USD45 billion by 2027

Industrial & Manufacturing: Spending on smart manufacturing will grow from USD345 billion in 2021 to more than USD950 billion in 2030. As manufacturers advance their digital transformation initiatives, they drive up spending on smart manufacturing with investments in factories that adopt Industry 4.0 solutions like AMRs, asset tracking, simulation, and digital twins.

Metaverse Markets & Technologies: Content Delivery Network (CDN) revenues will increase from USD10.4 billion to in 2021 to USD25.2 billion in 2030. For all the hype the metaverse receives around virtual worlds and assets, it is the build-up to this interconnected future where the physical and digital are merged that deserves more attention. According to Principal Analyst Michael Inouye, “Trends across digital media and advertising, immersive, hybrid workforces, and evolutions in technology (i.e., 5G advanced and upcoming 6G) are all coming together to change how we consume content, work, access services, and communicate.

Telco Cybersecurity: Global 5G Security revenue will grow from USD2.067 billion in 2021 to USD11.689 billion in 2026 with a CAGR of 41.4%. Network Security Technologies will be in strong demand to secure the 5G mobile infrastructure and to provide new security value propositions to enterprise clients, especially as URLLC and mMTC applications emerge.

“While there are still fundamental challenges ahead–political tumult, an entrenched endemic, and a broken supply chain–these statistics should provide insights and actionable data needed to chart a successful course in 2022 and beyond,” Carlaw concludes.