Major players in the high tech space tend to take up the headlines, whether good or bad. But in 2023, most of those headlines focused on the sweeping layoffs of top Silicon Valley organizations. The high tech industry at large, however, has a bright future, and the industry as a whole continues to grow and adapt quickly to the ever-changing pace of customer demands and wishes.
2023’s trends for high tech have been vast and varied, but at Simplus we’ve taken a particular interest in tracking these trends: superapps, digital assets for sale, metaverse growth, data analytics sophistication, and data storage/processing demands. Now with the year’s nearing close, let’s review what’s happened in each area for the high tech space.
We’ve been watching the slow rise of superapps in the West all year, and the end-of-year result is still a turtle pace—for the time being. While app giants in Asia have taken off with successful superapps that drive consumers with their efficient productivity and bundled approach, western markets are not yet on the same page. Many software providers based in the West would have to majorly shift their business model to take advantage of the Superapp with Miniapp children approach, but it is an enticing revenue opportunity for those looking to tap into emerging economies abroad.
Sale of digital assets
The sale of digital assets, often referred to as NFTs, continues to pick up traction, albeit slowly. The conflicting news of rising sales also comes with the news of massive layoffs at OpenSea, so the volatility of this market may continue to dissuade some consumers. But other consumers are rapidly taken with this new generation of e-commerce possibilities, and it’s an intriguing prospect for many high tech companies looking for novel ways to distinguish themselves.
Following along with the sale of digital assets is the metaverse at large. Again, this is a trend that is inching along slowly, but still worth considerable pause and acknowledgement for its long-term implications. Consumer habits and preferences are slowly moving to purely virtual formats, not eradicating the need for material goods but increasing the demand for sleek, quality digital products and experiences. Tech companies would do well to start creating strategies for the gradual rise of the metaverse economy (and gamifying their offerings for the metaverse may be the way to get in), but not without forgoing their in-person, physical product strategy.
Our final two predicted trends for 2023 are where we saw the most stunning and significant amount of growth. Data analytics, for one, became even more of an emphasized priority for high tech companies, if that was even possible. As the possibilities of AI excite and provoke industry disruption, many organizations are realizing a greater need for sleeker, faster, more comprehensive databases of customer information to deliver on the promises of AI and make better decisions.
Finally, the partner in crime for data analytics is a way to house and handle all that data: data storage and processing. We’ve seen high tech firms in 2023 invest more time and dollars into larger, more secure, and robust data management systems to ensure their futures. However, we’ve also seen organizations make a concerted effort to clean up data and make sure the data they’re working so hard to protect is valuable for growth. Optimizing data storage and processing is more than just making more space—it’s about identifying the data you have, the data you want, and the ways you can use that data to deliver better customer experiences.
Superior data management is where it’s all headed, and it’s also where it all begins. Organizations that prioritize their data strategy and analytics practices set the foundation for incredible success with AI and beyond. Is your organization prepared? Let’s talk data today with the experts at Simplus.