Global top 50 technologies will generate potential $2.8tr in next five years
Often percieved as a threat, disruption can equal multi-billion dollar opportunities. Embracing technological advancements and tapping into convergence possibilities will yield an advantage, according to Frost & Sullivan.
Frost & Sullivan’s latest analysis estimates that in the course of the next five years, the global top 50 technologies will generate a combined market potential of $2.8 trillion. In 2013 alone, the global research and development investment for these top 50 technologies accumulated more than $120 billion.
"Knowing a cool technology is one thing, knowing what to do with it is another," states Frost & Sullivan’s Practice Director for Technical Insights (Europe), Ankit A. Shukla. "It is easy for companies to get caught in a trap of the latest fad that never leads to business ROI. Therefore, it is crucial to identify and to innovate your business model with more accuracy and build new concepts for stronger stakeholder return."
Many interesting technology convergence examples have been identified as part of the Frost & Sullivan’s TechVision programme. Self-healing oil and gas infrastructure opportunities will transpire as a result of the convergence of flexible electronics and super hydrophobic coating. Augmented reality technologies assimilated with wearable electronics will offer an enhanced user experience for the consumer, defence, education, and gaming sectors. The healthcare sector will profit from 3D printing technology, making customized wound healing possible through 3D printed skin. These technologies will experience a significant adoption rate around 2019-2020.
Frost & Sullivan’s TechVision programme identifies specific technologies which can influence and strengthen a company’s operative business. "An important aim is to illustrate how a business can collaborate and co-create future solutions with previously unexpected partners," states Shukla.
Frost & Sullivan’s latest analysis of the top 50 most innovative technologies will be presented during GIL 2014: Germany that returns to the Jumeirah Hotel in Frankfurt.
"It is a great opportunity for senior staff and thought leaders of DACH based firms and think tanks to think out of the box and discuss things that reach beyond the financial year," says Mr Klaus Huhn, Vice President of Consulting and Head of German Operations at Frost & Sullivan.
"Particularly at a time when the German economy is faltering it is important not to lose track on how big trends and changes can affect one’s business and what to do about it. The response to Mega Trends, disruptive technologies, Industry 4.0 and the ability to adopt completely revamped business models will determine how the German, Austrian and Swiss Industry will cope in the global competition."