What are Emerging Technologies?

Emerging Technologies are technologies representing the advancement and technical innovations in various fields, which offer a competitive advantage towards fulfilling the end goal.

These technologies are categorized by high rate of growth compared to other existing teechnologies. Other characteristics include radical novelty, coherence, have prominent impact in their field of operation. They however are uncertain and highly ambigous. They hold a huge leverage, ascendance and materiality pointing towards the future. These technologies are Innovative, Disruptive and Ambigous.

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Image Source: Smarter with Gartner

These technologies can be divided into the following categories Artificial Intelligence, Machine Learning, Fintech, Blockchain, Cybertech, Cloudtech, Consumer IoT (Internet of Things),  Mobility, Healthtech, Foodtech and even Supply Chain & Logistics.

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Image Source: Smarter with Gartner

Most of the unicorns and companies that have recently been successful are all stemming from these technologies. The main reason being that Investors are fascinated, intrigued and encouraged by their fast growth, which in turn convinces them to pour money into such firms.

Emerging Tech Firms that have gained global momentum include Didi Chuxing which has grown greater prominence in China and has evolved as Ride Sharing Giant with a 99% Market Share. Other firms include Uber, Grab, Facebook, Apple, DoorDash, Beike, Convoy and even PAYTM.

The Emerging Technologies is the new found wealth by Investors. The founders and creators of these tech have found a way to provide solutions to their clientele needs in an efficient and effective manner. They have revolutionarized the art of serving clients, for which the clients have responded timely and with fondness.

As time evolves, the tech has changed the Industries in which they operate. In some cases, they have led to their firms have enormous profit while in some cases, their firms are yet to even break even. Nevertheless, it is safe to say, it is a space that keeps on giving.

Source of Article: Pitchbook Data