The current decade has been difficult for millions of businesses in all sectors of industry. 2020 saw the first truly global pandemic in the shape of the COVID-19 virus. While online-based businesses thrived during the repeated lockdowns and movement restrictions that were placed on populations, companies that relied on physical premises did not. Many were forced to close permanently after they suffered losses in earnings for most of the year from which they could not recover.
While the most severe effects of the pandemic have gone, the subsequent years have seen high levels of inflation and reduced consumer spending power, making it difficult for many businesses to enjoy high profits. However, many organizations used 2023 as a year to invest in the latest technologies to improve their prospects. This article outlines some of the key tech trends in 2023 and how a range of businesses used this technology to cultivate success.
Table of Contents
Improving cloud-based systems
In the last five years, millions of organizations have made the transition to cloud-based IT infrastructure for their key applications and platforms. However, as the number of applications based online grows, there is a need to manage, control, and allow them to communicate together by using application programming interfaces (APIs). IT managers also need to be able to effectively monitor the API performance, and a key trend of 2023 has been the mass adoption of API analytics platforms by businesses.
This technology allows firms to quickly monitor and optimize API systems so that they effectively control the cloud-based IT architecture. Real-time information on the performance of API gateways and specific programs can be gathered, which allows the constant troubleshooting of online assets to be undertaken. These platforms allow custom reports to be generated and deliver performance insights that help all stakeholders understand how their cloud-based systems are running.
Increased drone usage in business
Drone technology had been confined to a small number of uses until recently, most notably for military applications. However, 2023 saw a more widespread adoption of this sophisticated technology across a range of business sectors. The agricultural industry now uses drones almost routinely in their operations as they can be deployed to monitor crop conditions and yields rapidly.
In addition, the field of pre-hospital emergency care is now actively procuring drone technology to assist in their time-critical responses. In life-threatening emergencies, drones can reach the scene of an incident far quicker than can be achieved by conventional land-based responses, especially in dense urban areas or inaccessible remote locations. 2024 will likely see this technology continue to be rolled out across other major sectors of business.
The continued rise in on-demand home entertainment
As a brief final example of tech trends for 2023, there is a continued rise in the popularity of on-demand home entertainment. The global worth of on-demand home entertainment reached over $275 billion in 2022 and is expected to grow at a CAGR of over 4% per year by 2030. Consumers are still seeking home entertainment even after the worst impacts of the COVID-19 pandemic have passed. The industry continues to grow and relies on improvements to smart tech devices and the use of predictive algorithms on platforms such as Netflix to offer consumers a truly personal curated entertainment selection.