Top Technology Investment Trends to Keep an Eye on in 2023 (Part 2)

Tuesday, 04/04/2023 20:00 (GTM +7)

A large amount of investment capital is pumped into Vietnamese technology startups opening up many opportunities and challenges for startups to meet business expectations.

According to the GlobalData report, technology trends are predicted to be attractive to investors in 2023.

Metaverse

Metaverse is a digital universe combining aspects of the internet, Augmented Reality (AR), Virtual Reality (VR), online gaming, social media, cryptocurrency, etc., allowing users to interact and share experiences in a sophisticatedly designed virtual world in real-time. A series of big names from the fashion industry, banking, etc., have widely informed about their metaverse deployment plans in 2021-2022.

In the future, the metaverse is predicted to explode more when SMEs join the “virtual universe”. 2023 will be a guide on how they work in the next decade, Experts said. In 2024, the value of metaverse investment could reach 800 billion USD and is expected to add 5 trillion USD to the global economy by 2030.

Metaverse - kết hợp tất cả các khía cạnh cuộc sống vào một vũ trụ ảo

Metaverse, which combines all aspects of real life into a virtual universe

According to Forrester, applying the metaverse to features such as Zoom, Slack, Webex, etc., will make this technology accessible to tens of millions of people. Gen Z will likely be the primary user of the metaverse as they start spending time on proto-metaverse technologies instead of Facebook and Instagram. Although, from an organizational perspective, metaverse will help businesses efficiently process and visualize complex data; they are also handy for work related to physical security (according to BCG).

On the other hand, VMware also recommends that users be careful when approaching this new technology to avoid network attacks and personal data theft. To be truly secure, the platform must implement controls and continuous authentication – taking advantage of factors like biometrics and monitoring user behaviour closely.

Blockchain & crypto

Despite possessing a lot of potentials, blockchain has not been noticed by lawmakers because of its high energy consumption, for example, Ethereum used to consume 112 TWh/year with the PoW mechanism, equivalent to the electricity consumption of The whole Netherlands, but after switching to PoS mechanism in mid-September 2022, the amount of electricity decreased by 99%, equivalent to 0.01 TWh/year. JP Morgan – the largest bank in the United States, assessed that it would be a catalyst for the development of the cryptocurrency market in the next 6-12 months.

Besides, the mining of bitcoin and tokens also becomes more friendly when large ranchers around the globe turn to using renewable energy sources such as solar power instead of traditional materials, combined with The development of blockchain can become a positive signal to help end the “crypto winter” early, through several applications:

Traditional banking: according to AMLBot, decentralized finance (DeFi) is integrated into the final part of the system to provide a more attractive and reliable alternative.
Video games: according to Animoca Brands, video games are expanded through NFT with high-quality blockchain games and are widely allowed.
Digital assets: according to Matrixport, half of the investors regard Digital assets as a future trend, even in a highly crypto winter.

ITI Fund - Kỳ lân công nghệ Việt - Sky Mavis xây dựng tựa game blockchain đầu tiên ở khu vực Đông Nam Á

Vietnamese unicorn – Sky Mavis built the first blockchain game in Southeast Asia.

Robotics

Supply chain disruptions, rising inflation, etc., have encouraged automated development, which has grown the robotics industry, as the valuation from $45.3 billion in 2020 grows with 29% CAGR and reached 568 billion USD in 2030 (Global Data). With technological development such as artificial intelligence, big data, and regulatory support, the service robot market will generate $55.2 billion in revenue by 2023.

In addition, regarding appearance and capabilities, robots are being studied to be more human-like, with the role of welcoming at events, guiding visitors, bartenders, caregivers at nursing homes, or housekeepers. Robots also undertake production and logistics in other complex places, such as warehouses and factories.

ITI Fund - Sofia - world's first robot citizen

Sofia – the world’s first robot citizen (Source: MATTHEW SHAVE, HBOON ROBOTICS)

However, this industry also has challenges, including rising energy costs, increased production targets, and the fragility of supply chains in the economic downturn.

In 2023, technological development is expected to create a significant impact not only on organizations and firms but also on society and the environment. Therefore, startups should catch up with trends to take advantage of technology.