For every investment, the end game is to receive good returns. Unfortunately, this is not always the case as some may end up not yielding the expected returns. So then, what factor makes the difference between a good investment and a bad one? Accurate information! As long as various markets continue to exist, investments will never cease.
In this article, we are going to open your eyes to investment opportunities that you may or may not have heard of in the technology space. The world continues to become more technologically inclined with each passing day, and the right investment in this booming industry has the potential of bringing you sizable returns on your investment.
The blockchain can be said to be the powerhouse of cryptocurrency. It is a distributed digital ledger designed to facilitate the operations of digital assets like Bitcoin, Ethereum, Litecoin, etc.
Nowadays, the use of blockchain has gone beyond cryptocurrency and is actively being adopted in a lot of companies for the creation of transparent and trustworthy systems that will no longer need third parties for authentication.
Some of the applications of blockchain technology include smart contracts, digital voting, cross-border payment systems, and supply chain management.
Notably, in 2017, the blockchain technology market was valued at $700 million, and this amount is expected to rise to $60 billion by the year 2024.
2. Augmented Reality (AR) and Virtual Reality (VR)
These two technologies, AR and VR, are not too different from each other as they have similar functions. What AR does is to bring virtual elements into the real world while VR, on the other hand, does the opposite. VR takes a person into a virtual world created by a computer. These technologies were made famous by gaming companies and other forms of entertainment, but its use goes beyond that. These amazing technologies are also utilized for both educational and training purposes.
The AR and VR technologies had a market share of $14 billion back in 2017, and come 2020; it is expected to achieve a market share of $140 billion.
Also Read: Top 8 Books on Machine Learning
3. Self-Driving Cars
It first started as a concept which a lot of people thought was both amusing and impossible many years ago, but today things have changed so much that the once overlooked concept has become the attraction of the world. A self-driving car is no longer a myth but a reality today.
Many companies have invested heavily in the technology, like General Motors that bought a company developing the self-driving technology for a whopping $1 billion and plans are in place to test its first autonomous cars soon. More companies like Lyft and Uber are invested in the technology as well as other car manufacturers.
Self-driving cars already have a market value of over $50 billion in 2019 and are predicted to reach $550 billion in 2026.
4. Artificial Intelligence (AI)
Artificial intelligence is now at our fingertips, a subject that once thrived only in movies and sci-fi novels. AI is no longer a dream to tech enthusiasts but a reality. Today, we can see the functionality of AI in our smartphones and other personal and home gadgets. AI was created to think like humans and so far have been able to make life easier and enjoyable.
Lots of industries are making use of AI today, such as the healthcare, automobile, and financial sectors, to mention but a few.
Going by the prediction of notable tech industry experts, the AI market is yet to reach its full potential. Its market was valued at $9.5 billion in 2018, but by 2025, it is expected to be worth $120 billion.
5. Internet of Things (IoT)
IoT is a technology that does not need human interaction to function. With this innovation, smart devices can connect to the internet and also communicate over it without needing a human touch. IoT presently makes use of M2M SIM and other vital components to power a large number of devices both for businesses and consumers. IoT technology is seen in the following innovations: security systems, Wearable technology, Internet-connected vehicles, Health-monitoring devices, home automation devices, and remotely controlled appliances.
IoT technologies recorded a market value of $130 billion last year, an amount estimated to skyrocket to $320 billion by 2023, with no plans of slowing down.
If you are planning to venture into technology, then the above-listed innovations are sure to give you good returns on your investments. One of the amazing things about these opportunities is that they are still untapped and whatever value they have right now is nothing compared to what they will be worth in time to come. So, the best time to make a calculated move is now. Invest now and enjoy great returns in the future.