Top 10 Technologies to Learn in 2024

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Introduction
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Technology refers to the application of knowledge for the betterment of human society. Over thousands of years, technology has evolved to provide humans with major comfort and convenience. From the creation of the telephone to the world of tablets and phones, and from making computers to developing highly intellectual robots, technology has been evolving in almost all possible fields, providing various job opportunities that are continuously growing day by day.


In this blog, we will discuss some of the best technologies to learn for the coming year. These technologies have the potential to shape the future and offer promising career opportunities. So, without further ado, let's dive into the top 10 technologies to learn in 2023.


1\. Extended Reality (XR)

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Extended reality or XR covers everything that falls under augmented reality (AR), virtual reality (VR), mixed reality (MR), or anything in between. Businesses and major industries like entertainment, marketing, and design benefit massively from extended reality frameworks. According to Globe Newswire, the extended reality market is set to grow from $26 billion in 2020 to as high as $397 billion by 2026, boasting a CAGR of 57.91%. Technological giants like Google, Samsung, and Apple are actively looking for extended reality experts, leading to a substantial demand for trained professionals in this domain. The average salaries range from $68,000 to $102,000 annually.


2\. Edge Computing

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Edge computing is a distributed computing pattern that brings data storage and computation closer to the data source, thereby improving response time and saving bandwidth. It's considered an important factor for the success of the 5G and IoT industries. As per reports, edge computing is estimated to reach $101.3 billion with a CAGR of 17.8%. Big names like Amazon, HP, and IBM hire edge computing experts with an average salary estimated at $170,000 per annum.


3\. 5G and Wi-Fi 6

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We live in a world where massive amounts of data need to be transmitted quickly. With the increased adoption of video conferencing, a reliable connection and higher bandwidth are essential. This is where 5G and Wi-Fi 6 come into play. 5G networks are slated to have more than 1.7 billion global customers by 2025, according to the GSM Association. The major players in the 5G market are Samsung, Cisco, and Nokia, among others. The worldwide market for 5G is also anticipating growth with a CAGR of 67.1%, propelling newer technologies like IoT and virtual reality into mass production for the public. Wi-Fi 6, on the other hand, provides improved security and high internet speed even when congested. It is expected to grow from $11.5 billion in 2022 to $26.2 billion by 2027, with a CAGR of 17.9%.


4\. Blockchain

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Blockchain is revolutionizing every sector, from banking and healthcare to politics. It establishes a decentralized digital ledger that monitors and saves data in several locations, making forgeries difficult. Companies like HSBC, Barclays, Walmart, and Pfizer use blockchain for various purposes. Blockchain developers need to know cryptography, data structures, and computer networking. According to reports, the market evaluation of blockchain is expected to reach $19.9 billion by 2023, with a CAGR of 42.8%. With the rise of NFTs, creators are earning vast amounts of money.


5\. Cybersecurity and Digital Trust

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Several organizations have fallen prey to cyber attacks, including big names like Facebook, LinkedIn, and Yahoo. The onset of the COVID-19 pandemic has triggered a rise in the number of cyber attacks across the globe. Hence, the field of cybersecurity holds paramount importance in today's times. Some of the best cybersecurity companies are Cisco, Microsoft, McAfee, and IBM. Knowledge of operating systems, networking, and virtualization is a must in the cybersecurity domain. Recent reports suggest that the global cybersecurity market is expected to reach $31.82 billion by the end of 2023, with a CAGR of 15.2%.


6\. Robotics and Automation

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Robotics is an influential industry gaining momentum over time. In the coming years, robotics will offer a lot to the world, such as smart factories and the adoption of agile robotics and cobots, to name a few. Some companies actively working in the field of robotics are Boston Dynamics and Universal Robots. Core robotic skills you need to possess include Python, Matlab, problem-solving, mathematics, and machine learning. The global robotics market is estimated to reach $70.84 million by the end of 2023, with a CAGR of 10.5%.


7\. Internet of Things (IoT)

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IoT, or the Internet of Things, is quickly becoming an integral part of our lives. IoT devices are recognized for their social and technological marvels. The number of IoT devices is increasing by almost 31% every year, and according to reports, there will be 30 billion IoT devices by 2022. The number of active devices is estimated to double by the end of 2023. IoT has aided firms in improving customer service, streamlining operations, and increasing profits. Companies like Mindtree, IBM, GE Digital, and Verizon are getting more involved in IoT. The top in-demand IoT skills include machine learning, AI, Python, JavaScript, big data, and Node.js. According to reports, the market value will reach or even exceed $566.4 billion by the end of 2027, with a CAGR of 6.7%.


8\. Quantum Computing

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Quantum computing uses the properties of quantum physics to perform calculations and simulations that would not be possible on a traditional machine. While not just a research experiment anymore, quantum computing is a tool changing the face of several industries, including medicine, biology, and climate change. Big names like Microsoft, Google, IBM, and Intel are in the race to build quantum computing tools. To learn quantum computing, you need to know programming, mathematics, mechanics, scientific computing, and algorithms. Reports state that the quantum computing market is estimated to reach $411.4 million by 2026, with a CAGR of 24.2%.


9\. Proof of Work and Proof of Stake
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Decentralized cryptocurrency networks must ensure that transactions are carried out safely and securely without a centralized organization. To accomplish this, networks use a technology known as a consensus mechanism. Proof of work and proof of stake are the two consensus mechanisms that enable all the computers in a crypto network to concur on which transactions are valid. Proof of work is the older one, used by Bitcoin and Ethereum 1.0, while proof of stake is the newer consensus mechanism that powers Ethereum 2.0, Cardano, Tezos, among others. To excel in this technology, you should have proficiency in at least one high-level programming language, a solid grasp of cryptography and security principles, knowledge of smart contracts, and familiarity with algorithms and data structures. According to statistics, it is estimated that the market value will reach $69 billion by the end of 2030.


10\. AI as a Service
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Gone are the days when you needed a hard copy of a map to travel to your favorite place. As Google Maps has efficiently replaced them with its powerful AI, artificial intelligence is the topmost trending technology today. AI as a service (AIaaS) is a third-party offering AI services, which help individuals and organizations conduct AI experiments at a low cost. Top companies using AI as their core technology include Google, Amazon, Apple, and Microsoft. The market value of AI is projected to reach $42.4 billion with a CAGR of 29.75%.


Conclusion

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These are the top 10 technologies to learn in 2023. If you plan to educate yourself and get trained in any of these technologies, consider exploring Simply Learn's bootcamps for comprehensive and industry-relevant training. The future is technology-driven, and acquiring skills in these emerging technologies will open up a world of opportunities. Stay tuned for more interesting videos and updates from Simply Learn!