Electric Vehicles (Including self-driving technology)
As we all know, this is one of the fastest-growing industries in the world. Multiple companies are investing immense money to make their vehicles electric and self-driving. There is a combination of factors pushing EVs, including increasing concerns over climate change, advancements in battery technology, and the declining cost of EVs.
Here are some statistics and trends related to the growth of the EV industry:
- Market size: According to a report from Grand View Research, the global EV market is expected to reach $777.0 billion by 2027, growing at a compound annual growth rate (CAGR) of 27.9% from 2020 to 2027.
- Sales: EV sales have been growing rapidly in recent years, with over 2 million EVs sold globally in 2020, according to a report from the International Energy Agency (IEA).
- Investment: Investment in the EV industry has been growing rapidly, with major automakers and tech companies investing heavily in the development of EVs and related technologies. For example, according to a report from CB Insights, investment in the EV industry reached a new high in 2020, with over $12 billion in funding.
- Charging infrastructure: The development of charging infrastructure is a key factor driving the growth of the EV industry, and the number of public charging points is expected to reach over 20 million globally by 2025, according to a report from BNEF.
Self-driving, on the other hand, is becoming more and more prevalent because of improved technology, decreasing costs, and growing demand.
Here are some statistics and trends revolving around self-driving technology.
- Market size: According to a report from MarketsandMarkets, the global market for autonomous vehicles is expected to grow from $54.23 billion in 2020 to $556.67 billion by 2026 at a compound annual growth rate (CAGR) of 39.47%.
- Adoption: The adoption of self-driving technology is proliferating, with several companies, including automakers, tech firms, and ride-hailing companies, investing heavily in the development of self-driving vehicles.
- Test vehicles: According to a report from the National Highway Traffic Safety Administration (NHTSA), as of 2021, over 80 companies are testing self-driving cars on public roads in the US, with a total of over 200 test vehicles on the road.
- Regulatory environment: The regulatory environment for self-driving vehicles is evolving rapidly, with a number of states and countries introducing new regulations to encourage the development and deployment of self-driving vehicles.
Artificial intelligence
AI is a rapidly growing industry and has the potential to transform a wide range of industries, from healthcare to finance to retail, by automating tasks, improving decision-making, and enabling new applications.
Here are some relevant statistics and trends related to the growth of AI:
- Market size: According to a report from MarketsandMarkets, the global AI market is expected to grow from $21.5 billion in 2018 to $190.61 billion by 2025, at a compound annual growth rate (CAGR) of 44.1% during the forecast period.
- Investment: Investment in AI startups has been growing rapidly in recent years, with venture capital firms investing over $10 billion in AI startups in 2020, according to a report from CB Insights.
- Adoption: The adoption of AI is growing rapidly across a wide range of industries, with the healthcare, finance, and retail sectors being among the earliest adopters. For example, according to a report from Accenture, the healthcare industry is expected to invest over $6 billion in AI by 2021.
- Job creation: The growth of AI is also driving job creation in a number of fields, such as data science, software engineering, and machine learning. According to a report from the World Economic Forum, by 2022, AI is expected to create 2.3 million jobs.
Metaverse
The metaverse is a virtual world where people can interact with each other and digital entities in a shared space; it has gained much attention in recent years and is expected to continue growing. Even though Facebook rebranded itself as Meta, it did not take off as Mark Zuckerberg wanted it to. The reality is that it is still not going anywhere because you can look at the demand in advancements of virtual reality, augmented reality, and other immersive technologies that are becoming more accessible to a broader audience. The gaming industry has been one of the earliest adopters of the metaverse concept, with many video games allowing players to enter virtual worlds. Another growing interest is using the metaverse for various other applications, such as socializing, education, and commerce.
Here are three examples of how the metaverse socializes, educates, and commerce.
- Socializing: The metaverse provides a unique and immersive platform for people to socialize and connect with each other in virtual spaces. Users can create avatars, participate in virtual events, and interact with others in similar ways to real-life experiences, but with added benefits such as the ability to customize one’s appearance and environment.
- Education: The metaverse has the potential to revolutionize education by providing students with interactive and immersive learning experiences. For example, students could participate in virtual field trips, simulations, and other educational activities in an engaging and educational way.
- Commerce: The metaverse also has the potential to be a major platform for commerce, as businesses and consumers can interact in virtual environments to buy and sell goods and services. For example, a virtual store could offer a shopping experience that combines elements of e-commerce with the ability to interact with products and other customers in a virtual setting.
