3 Growth Themes That Will Lead the Future of Technology
published : 22 Oct 2018 at 11:54
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It is difficult to understate the impact that technology has had on our daily lives, making commonplace those life processes that were considered science fiction less than a generation ago. In today’s tech-driven society, that post-wakeup glance at our cell phone is an indispensable start to the day, while errands like making restaurant reservations, banking and shopping are carried out online without a second thought. And by all indications, this digital revolution is going to make life even more convenient, efficient and rewarding as new technologies emerge.
Here are three promising and fast-growing technological themes that will define our lives amid the coming era of advancement.
The popularity of Cloud computing has blown sky-high over the past few years, with a growing number of companies putting a high priority on shifting from hard-drives to the online data storage and access system. Owing to its advantages of scalability, flexibility and being cost efficient, Cloud computing is expected to grow nearly 400% by the year 2020, with spending projected to reach USD 277 billion by 2021.
Source for growth forecast: Cisco Global Cloud. Index: Forecast and Methodology 2015-2020 whitepaper. Source for services spending: IDC., 30 June 2018.
The Internet of Things, or IoTs, refers to technologies that support online connectivity for devices other than computers and smart phones. Simply put, the technology is based on data from digital devices, which is analysed and used to make common life activities easier and more convenient. Though it is vastly disruptive to traditional businesses, there is a huge profit potential for IT and AI industry players who can effectively harness this game-changing technology, as IoT is a key element in the development of Smart Homes and Smart Cities. Eye-opening statistics tell the story of IoT’s rapidly increasing influence: In 2006 there were some 2 Billion internet-connected devices worldwide, a figure which is expected to grow tenfold by 2020, while economic impact is estimated at USD 11 trillion per year by 2025.
Source for economic impact: McKinsey & Company. The Internet of Things: Mapping the Value Beyond the Hype June 2015. Source for connected devices: Intel Corp. A guide to the Internet of Things: Intel, IDC, United Nations 2016.
Arguably one of the most widely used technological innovations among consumers
e-Commerce is the marketing, buying and selling of goods and services through electronic communication channels, most commonly the Internet. “Online shopping” has made massive inroads across a landscape that remained largely unchanged throughout recent memory, with online-based year-on-year sales growth figures of 16.4% dwarfing retail’s 4.5%. Around 87% of the global online population regularly use e-Commerce for purchases spanning just about every category of consumer product.
Source for sales growth: U.S. Census Bureau. Based on U.S. sales, year-over-year, as of 30 June 2018. Quarterly year-over-year change, as of 2018 preliminary estimate.
Source for online purchases: eMarketer, Inc. "2015".
In order to give investors the opportunity to benefit from this sea-change of technological progress, the Franklin Technology mutual fund from Franklin Templeton Investments leverages these three growth themes for sustainable growth. The fund seeks out cutting-edge technologies worldwide, investing in companies whose products and services fit the profile of leading technology growth themes with outstanding potential. With its network of over 600 investment professionals from 42 international research firms, Franklin Templeton Investments maintains a global perspective refined by local expertise, that is, seeing the big picture while focusing on the details.
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