HCLTech

Trends 2024

Brought to you by the

Enterprise Technology Office (ETO)
 Contents

02 Foreword

03 Executive Summary

04 Top 10 Strategic Trends for 2024

and Beyond

46 What’s Next?

52 Tech Trends 2024: An Overview

52 Tech Trends 2024: The Methodology

54 Our Approach to Identifying the Top

10 Trends for 2024

56 About Enterprise Technology Office

57 References

Tech Trends 2024 1

 Foreword
In a rapidly evolving digital age, the significance of emerging
technologies and the boundless opportunities they present
cannot be overstated. To capitalize on opportunities and
leverage these innovations, organizations must adopt a
more proactive stance that enables them to not only react
faster but also spot opportunities and drive change.

As we navigate another year of digital evolution, myriad

technologies are poised to reshape the business
environment: Generative AI is revolutionizing industries
Kalyan Kumar by automating tasks and enabling swift decision-
making, quantum computing is solving complex
Global CTO and Head, problems with unprecedented speed, sustainability
Ecosystems, HCLTech technologies are promoting environmental
and CPO, HCLSoftware conservation, fifth-generation wireless technology
is promising high-speed connectivity and more.

This underscores the need to urgently upskill the workforce.

Organizations must champion continuous learning in order
to empower their teams with the skills required to navigate
ever-evolving customer demands. The commitment to
upskill, rather preskill, is now pivotal amid the disruption
that accompanies progress, fostering agility, boosting
productivity and ensuring sustainable business growth.

Yet, this technology journey demands not

“Organizations only innovation but also ethical stewardship.

As we march into a new era, responsible

must champion and ethical deployment should become

our guiding force. A steadfast commitment

continuous learning to these principles will ensure that when

enterprises embrace emerging technologies,

in order to empower they do so with a conscious dedication to

societal and environmental considerations.

their teams with The future, as it unfolds, will be not merely

a yardstick of technological growth but
the skills required also a testament to our collective progress.
Together we can navigate toward a more
to navigate ever- connected, efficient and sustainable
world — a future where the fusion of
evolving customer technology and ethical governance paves
the way for unparalleled industry leadership
demands.” and enduring business prosperity.

With that in mind, here are the top 10

technology trends to watch out for in
2024. These insights can assist your organization in
prioritizing future technology adoption, ensuring your
organization is well-prepared for the year and actively
engaged with your competitors in the race to stay ahead.

Tech Trends 2024 2

Executive Summary
We find ourselves in an era of rapid technological
evolution, where each passing moment heralds new
innovations and transformative changes. The momentum
of this innovation is poised to intensify in the years to
come, emphasizing the need for enterprises to cultivate
resilience. In times of uncertainty, the key lies in acquiring
the knowledge to adopt, adapt and be adept.

For almost a decade, HCLTech’s Enterprise Technology

Office (ETO) has remained steadfast in its commitment to
uncovering emerging technologies across various sectors,
highlighting the factors that influence innovation and its
adoption. We are proud to present yet another installment of
our annual exploration, a dedicated effort to delve into the
world’s top tech trends that will not only define the upcoming
year but also lay the foundation for business transformation.

This collaborative report sheds light on trends that enhance

adaptability, speed and scalability in the dynamic tech
environment. More than 70 experts, comprising academics,
global forums, industry leaders and futurists in the Open
Innovation ecosystem, have played a pivotal role in shaping
this comprehensive perspective. Their industry insights
contribute to a better understanding of technology’s
evolving landscape, equipping decision-makers with the
information they need to navigate the year with confidence.

In our pursuit of business growth, we go beyond just

listing trends. Our approach involves the quantitative
and qualitative assessments of each technology in
five crucial elements: profitability, adoptability, agility,
community and macrocosmic impact. We first introduce
‘The ETO Mesh of Possibilities,’ a tool that measures how
each technology performs across these parameters.

This report serves as a compass for businesses

navigating the ever-evolving tech landscape. It
provides actionable insights that allow organizations
to recalibrate their priorities and strategies, ultimately
steering them toward successful ventures.

Tech Trends 2024 3

Top 10 Strategic
Trends for 2024
and Beyond
Technology Deep Dive

Tech Trends 2024 5

Mega Trend: AI
Stage: Disruption

A trifecta of rapid
advancements, widespread
adoption and limitless
opportunities in
artificial intelligence

Tech Trends 2024 6

Overview
The global artificial intelligence landscape within organizations has attained- a near-equilibrium
where disruptions are embraced, existing tech is harnessed and emerging trends are eagerly
pursued. The attainment of this dynamic shift is largely accorded to the emergence of enterprise
generative AI which has further propelled the need and advancements in ethical AI.

28% 48% 55% 58%

Respondents Respondents believe Respondents believe Respondents believe
believe GenAI will GenAI will be most GenAI is leading Machine Learning (ML)
be transformational useful in content disruption in AI is leading adoption
for enterprises generation in AI

41+32+27A
Mega trend landscape - AI The AI Landscape: Understanding the Trends

Top 3 AI Micro Trends:

Disruption 41%
Ethical AI

Hype 32%
Generative AI

Adoption 27%
Machine Learning

Profitability
ETO Mesh of Possibilities:
Key Findings

Macrocosmic Adoptability
Ethical Ai
1

1.5

GenAi 2
2.5
3
3.5
4
4.5
Machine Learning
Community Agility

Profitability Adoptability Community Macrocosmic

Generative AI has the The current adoption All three micro trends are All three micro trends
highest impact on quotient is highest for somewhat similar here. in AI have the potential
profitability backed Machine Learning (ML), However, Ethical AI is to create a sustainable
by conventional primarily due to its long- one of the leading trends, impact in the future by
technologies, implying term prior existence. indicating it will have a developing, optimizing
it is here to stay. larger societal impact. and promoting
sustainable practices.

Tech Trends 2024 7

AI Micro Trend:
Ethical AI
Happening Hype

Ethical AI is on course to become mainstream

with rapid advancements in AI systems.

Why Ethical AI?

• As AI algorithms become more complex and

influential, there is a growing concern about
biases, transparency, accountability and the
potential for unintended consequences.
• As AI continues to impact society, ethical
considerations are crucial for fostering
trust, mitigating risks and ensuring that the
benefits of AI are equitably distributed.

Why is Ethical AI in the Hype Stage?

Market Size
• The agility quotient is relatively low,
leading to hesitation in adoption.
Ethical AI is
• Values/benefits are multi-fold, so it is
projected to reach
becoming increasingly popular.
$5.4B • Organizations have started expressing
by 2032 their interest, indicating growing
awareness and implying that it will
soon shift gears toward adoption.
Challenges for Adoption

• New and complex, making integration

48%
challenging due to limited familiarity.
• Limited access to high-quality data, which
might lead to biased AI outcomes.
CAGR
• Dearth of clear strategies can result
in ineffective implementations.
• Compliance with evolving regulations can
be difficult, varying by region and industry.
• Brings cybersecurity risks that need
mitigation to protect data and systems.

Tech Trends 2024 8

AI Micro Trend:
Generative AI
Daring Disruptor

Generative AI meets the enterprise

Why is Generative AI in the Disruption Stage?

• Among the top three micro trends, GenAi has the

highest impact on potential revenue streams.
• It also has the highest impact on socio-
cultural and geopolitical environments.
• Enterprises are witnessing the
application of GenAI in innovative ways,
revolutionizing and pushing the boundaries
in previously unexplored areas.

Business Value
Market Size
• Creativity amplification: Ability to
create content at scale, reducing the
GenAi is projected need for extensive manual work.
to reach • Time and cost savings: It automates tasks,

$119B •
saving time and operational costs.
Hyper-personalization: It customizes
by 2032
experiences by analyzing data to provide
personalized recommendations and support.
• Enhanced efficiency: It automates complex
processes, optimizing workflows, increasing
productivity and providing data-driven insights.

29% Drivers for Adoption

• Competitive edge: Empowers organizations

CAGR with unique content and innovative solutions.
• Customer engagement: Personalized content
leads to increased customer satisfaction,
loyalty and higher engagement rates.
• Innovation: Supports rapid experimentation,
product development and idea
exploration, fostering innovation.

Tech Trends 2024 9

Mega Trend: 5G
Stage: Adoption

Wireless, secure and private

networks driving the next
wave of 5G adoption

Tech Trends 2024 10

Overview
As 5G marches towards its growth stage, we find a balanced industry perspective indicative
of a mature and informed stance. With 3 elements, viz. wireless, secure and personalized
network, taking centre stage this year, 5G is becoming a ubiquitous trend.

35+33+32A
Mega trend landscape - 5G
Entertainment
and Multimedia

Manufacturing
Adoption 35%

Smart
Healthcare
15%
21%
Hype 33% 15% Smart

Healthcare
49% Manufacturing
Logistics
Entertainment & Supply
Disruption 32% and Multimedia Chain Logistics and
Supply Chain

The 5G Landscape: Understanding the Trends

Top 3 5G Micro Trends:
“The Entertainment and
Network Slicing
Multimedia sector is bound to
witness the most impact when
5G Standalone it comes to advancements
made in the 5G sector.”
Fixed Wireless Access (FWA)

ETO Mesh of Possibilities: Profitability

Key Findings

Macrocosmic Adoptability
5G Standalone
1

Fixed Wireless Access (FWA)

1.5
2
2.5
3
3.5
4

Network Slicing
4.5

Community Agility

Profitability Adoptability Agility Macrocosmic

The three micro trends 5G Standalone leads This is where all three All three micro trends in
each show strong in adoption, indicating micro trends seemingly 5G have the potential
profitability within the strong market interest, converge, depicting their to create a sustainable
mature 5G landscape, followed by Fixed promise to solve current impact in the future, with
substantially affecting Wireless Access, and emerging problems FWA leading the charter.
potential revenue. which is poised for quickly and efficiently.
widespread adoption.

Tech Trends 2024 11

5G Micro Trend:
Network Slicing

Happening Hype

Network Slicing to enhance

flexibility and scalability in 5G

Why Network Slicing?

• The rollout of 5G enables a myriad of

applications, from AR to smart cities and IoT,
challenging conventional network structures.
• Network slicing addresses this by segmenting
the network into customizable slices tailored
to specific demands for bandwidth, latency
and security, ensuring flexible adaptation
to the diverse needs of the digital era.

Why is Network Slicing in the Hype Stage?

Market Size
• Good profitability, agility and macrocosmic
quotient but still far from mass adoption.
Network Slicing is
• Offers a chance to deliver dynamic
projected to reach
tailored services to customers.
$13.6B • Organizations have started maximizing
by 2030 the profitability quotient that can be
churned out of 5G, leading the shift from
hype to disruption and adoption.
Challenges for Adoption

• Complexity: Implementing and managing network

51.1%
slices can be complex, requiring sophisticated
orchestration and automation systems.
• Resource allocation: Allocating and managing
CAGR network resources for various slices to meet
their specific requirements can be challenging,
especially during peak usage times.
• Regulatory restrictions: Regulatory restrictions
or changes in regulations could impact the
deployment and operation of network slices.

Tech Trends 2024 12

5G Micro Trend:
Fixed Wireless Access
(FWA)
Daring Disruptor

FWA disrupting the 5G landscape with quick

deployment and high performance

Why is FWA in the Disruption Stage?

• Among all three micro trends, FWA has the

most well-rounded spider web with the highest
impact on potential revenue streams.
• It also has one of the highest impacts on direct
profitability quotient. While FWA has moved
from the hype to the realization stage, it is still
waiting for large-scale implementation. Hence, it
remains in the disruption category for this year.

Business Value
Market Size
• Low latency: Makes FWA suitable for
real-time applications like online gaming,
FWA is projected video conferencing and IoT devices.
to reach • Enhanced mobility: Can support on-the-go

$153B connectivity for vehicles, offering internet access

for cars, buses and other mobile applications.
by 2028
• Quick disaster recovery: In disaster-stricken
areas where traditional infrastructure is
damaged or unavailable, it can quickly
establish connectivity for emergency
services and affected communities.

39%
Drivers for Adoption

• Rising dependency on connected devices: Distant

CAGR learning, autonomous driving, multi-user gaming,
video conferencing, live streaming, telemedicine
and AR have led to demand increase.
• Integration of AI and IoT: Resulting in
greater usage of high-speed internet across
industries, integration of other emerging
technologies is propelling demand.

Tech Trends 2024 13

Mega Trend:
Metaverse
Stage: Hype

An interoperable, secure
and affordable Phygital
reality awaiting its dawn

Tech Trends 2024 14

Overview
With notable strides witnessed in the last one year there is still room for growth and improvement in order to
drive this trend into disruption and adoption phase. Innovations in display quality, tracking accuracy, haptic
feedback and computing power are continuously evolving. NFTs are also playing a significant role today to
monetize virtual assets and making them increasingly realistic. Not to mention about the rising digital identity
concerns which need to be addressed in current stage.

53% 36% 27% 69%

Respondents believe Respondents believe Respondents believe Respondents believe XR
real-time integrations is XR will drive Total Ethics and Governance Ethics and Governance
a big challenge in XR Experience priorities is the next big thing are in the hype stage
in the near term

54+33+13A
The Metaverse Landscape: Mega trend landscape - Metaverse
Understanding the Trends
Top 3 Metaverse Micro Trends:
Hype 54%
Extended Reality (AR/VR/MR)

Disruption 33%
Spatial Web

Adoption 13%
XR Ethics

ETO Mesh of Possibilities: Profitability

Key Findings

Macrocosmic Adoptability
Extended Reality (AR/VR/MR)
0

Spatial Web
1
1.5
2
2.5
3
3.5

XR Ethics
4

Community Agility

Profitability Adoptability Agility Community

Profitability tops Spatial Not that high compared All three micro trends This quotient for XR
Web and XR. XR Ethics to other parameters, are fairly agile, implying Ethics is the highest,
is catching up, implying mainly because the their effectiveness in implying its wider-
that its implantation will overall concept of addressing current and scale impact on
have a positive impact metaverse is in its early future market needs. society. This is primarily
on enterprises’ revenue. exploration stage. due to the trend of
making the metaverse
more accessible,
fair and secure.

Tech Trends 2024 15

Metaverse Micro Trend:
XR Ethics and Governance

Happening Hype

Growing awareness and acknowledgement

of ethical concerns are becoming integrated
with the evolution of XR technologies

Why XR Ethics and Governance?

• The deeply immersive nature of XR experiences

raises concerns related to privacy, data and
persona security and the potential for misuse.
• By addressing ethical concerns and implementing
robust governance, the XR industry can foster
public trust, encourage innovation and navigate
the evolving landscape while minimizing
potential risks and societal challenges.
Why is XR Ethics and Governance in the Hype Stage?

Key Insight • Impact on community and macrocosmic

factors are the highest, despite being at the
lower end on profitability and adoptability.
• The metaverse is likely to capture non-verbal
data, like physiological responses, enabling

69%
AI to deduce mental reactions, raising
concerns about “meaningful data consent.”
Challenges for Adoption

• Lack of universal standards: Establishing consensus

Respondents among diverse stakeholders regarding what
say XR Ethics constitutes ethical practices is challenging.
is in the hype • Balancing innovation and regulation: Overregulation
stage or could stifle creativity and hinder progress, while
witnessing new inadequate regulation may lead to ethical breaches.
advancements. • Cross-sectorial complexity: Developing
overarching rules and regulations that address
the diverse sector needs presents a challenge.

Tech Trends 2024 16

Metaverse Micro Trend:
Extended Reality (XR)

Daring Disruptor

XR transcending physical boundaries to

forge real-time, interactive and shared
experiences in a digital realm

Why is XR in the Disruption Stage?

• Extended Reality (XR) excels across all five

performance parameters, showcasing its
strong potential for feasible demonstrations.
• Progress in hardware and software will likely
lead to XR’s expanded use, and with increasing
innovation, it is poised to enter the mainstream.

Business Value
Market Size
• Improved engagement: Immersive
capability keeps users engaged.
XR is projected • Realistic simulations: Users can gain experience
to reach in a safe and controlled virtual setting.

$111.5B • Cost savings: XR can reduce the need

for physical resources and travel.
by 2028
• Enhanced visualization: XR allows for
interactive, visual representation of data.
Drivers for Adoption

• Maturity of innovative technologies: These are

22.7%
key enablers of more immersive environments.
• Social and cultural shifts: Rising interest in

CAGR virtual socializing and innovative education

propels XR adoption, with enterprise tools
evolving to offer immersive experiences.
• Diverse applications: Beyond gaming, use of
XR across enterprise enhances immersive tech
appeal with applications like digital twins.

Tech Trends 2024 17

Mega Trend:
Cloud
Stage: Adoption

Navigating the cloud

landscape with data
sovereignty, agility
and confidence

Tech Trends 2024 18

Overview
In today’s rapidly evolving digital world, organizations face the challenge of balancing the benefits of cloud
computing with the need to maintain data sovereignty, agility, and resilience. As more sensitive data is stored
and processed in the cloud, ensuring data sovereignty, the right of governments and individuals to control
their own data, is paramount. Organizations must also be agile enough to adapt to changing business
needs and technological advancements, while also being resilient to cyber attacks and other disruptions.

46+32+22A
Mega trend landscape - Cloud Top priority for cloud investments
App
28% 27% 24% 20% Performance

Adoption 46% Reducing

Reducing Complexity
Complexity

Hyper Automation
App Performance

Data Sovereignty
Hype 32% Hyper
Automation

Disruption 22% Data

Sovereignty

The Cloud Landscape: Understanding the Trends

Top 3 Cloud Micro Trends:

Multi-cloud Sovereign Cloud Confidential Computing

ETO Mesh of Possibilities: Profitability

Key Findings

Macrocosmic Adoptability
Multi-cloud
1

Sovereign Cloud 1.5

2
2.5
3
3.5
4

Confidential Computing
4.5

Community Agility

Profitability Adoptability Community

The highest is for Multi-cloud, The overall adoptability The community quotient for
denoting the trend’s potential parameter for all three micro Sovereign Cloud and Confidential
to impact revenue streams trends is in succession with Multi- Computing is quite notable due
directly, primarily due to the fact cloud leading the charter and to its ability to secure data from
that enterprises don’t rely on Sovereign Cloud and Confidential unauthorized access and stay
single cloud providers, thereby Computing lagging not far compliant with regulations.
reducing dependencies. behind. This denotes how the
overall cloud landscape is on its
way to enterprise-wide adoption.

Tech Trends 2024 19

Cloud Micro Trend:
Confidential Computing

Happening Hype

Confidential Computing securing

the cloud’s blind spots

Why Confidential Computing?

• Traditional cloud computing models have

inherent security limitations, as data is
decrypted and accessible to cloud providers
during processing, exposing data to potential
insider threats and data breaches.
• Confidential computing addresses this by isolating
data within a trusted execution environment.

Why is Confidential Computing in the Hype Stage?

Market Size
• Almost at-par community factor indicates
Confidential that it has a good appeal to quickly
Computing is gain traction for mass adoption.
projected to reach • Likely to become a critical element of cloud security.
$184.5B • 34% of respondents suggest that
by 2032 confidential computing is the next big thing
for ensuring security and innovation.
Challenges for Adoption

• Implementing confidential computing

can be complex, potentially leading

46.8%
to security vulnerabilities.
• Enabling confidentiality can introduce performance
issues due to encryption and decryption.
CAGR
• Specialized hardware or trusted execution
environments may be needed, which can
be costly and not universally available.
• Ensuring compatibility with existing
systems can be challenging.

Tech Trends 2024 20

Cloud Micro Trend:
Sovereign Cloud

Daring Disruptor

Fostering digital independence and data

autonomy with Sovereign Cloud

Why is Sovereign Cloud in the Disruption Stage?

• Being well-rounded in the mesh of possibilities

makes it a good candidate for moving past the
current disruption stage into the adoption stage.
• Organizations are embracing it for its
alignment with stringent data regulations and
ability to address specific business needs,
emphasizing security and compliance.

Business Value
Market Size
• Enhanced security: Often operated by government
or trusted entities, offering a higher level of security
Sovereign Cloud is and protection for sensitive data and applications.
projected to reach • Regulatory compliance: Helps organizations

$99B meet regulatory requirements by ensuring data

is stored and processed within legal boundaries.
by 2030
• Reduced latency and improved performance for
applications that require real-time data processing.
• Disaster recovery and business continuity
solutions ensure data availability even in
the face of disasters or disruptions.

17.75% Drivers for Adoption

• Increased customer demand for data

CAGR protection and transparency: Organizations
that adopt sovereign cloud can build trust
and confidence among customers.
• Geopolitical tensions and risks of data
extraterritoriality: Sovereign cloud ensures
that data remains subject to local laws
and regulations, reducing the risk of data
access by foreign governments.

Tech Trends 2024 21

Mega Trend:
Sustainability
Stage: Adoption

Driving paradigm shift

towards a low-carbon,
eco-conscious future

Tech Trends 2024 22

Overview
Sustainability is not just a trend; it is an imperative 59% 57%
for the survival of our planet and the well-being Respondents believe Respondents believe
of future generations. The growing awareness of Green IT will accelerate supply chain track
climate change and its far-reaching consequences sustainability goals and trace is already
has propelled sustainability to the forefront in adoption
of global discussions, driving a paradigm shift
towards a low-carbon, eco-conscious future. The 45% 22%
transition to a low-carbon economy will require Respondents Respondents
continued innovation, collaboration and policy believe the initiatives suggested green
support, but the potential rewards are immense implemented will help supply chain would
– a healthier planet, a more resilient society, and achieve sustainability accelerate achieving
a brighter future for generations to come. goals within 1 year sustainability goals

42+32+26A
The Sustainability Landscape:
Mega trend landscape - Sustainability
Understanding the Trends
Top 3 Sustainability Micro Trends:
Adoption 42%
Supply Chain Track and Trace

Disruption 32%
Decarbonization

Hype 26%
Green IT

ETO Mesh of Possibilities: Profitability

Key Findings

Macrocosmic Adoptability
Supply Chain Track and Trace
1

1.5

Decarbonization 2
2.5
3
3.5
4
4.5

Green IT Community Agility

Profitability Adoptability Community

Profitability peaks with The overall adoptability quotient The highest impact on larger
Decarbonization but is is highest for Supply Chain sustainable development
also strong in Green IT and Track and Trace followed by goals and the planet is coming
Supply Chain Track and Trace, Green IT. This is indicative of from Green IT, primarily due
indicating that sustainability how fast sustainability tech is to its ability to address the
is now closely integrated with becoming mainstream along planetary needs from multiple
enterprise revenue streams. with company operations. angles (energy, air, water,
etc.) rather than just one.

Tech Trends 2024 23

Sustainability Micro Trend:
Green IT

Happening Hype

Green IT catalyzing a sustainable digital

transformation for a greener future

Why Green IT?

Green IT is crucial for reducing energy use and

carbon footprints in the energy-intensive IT
industry, managing e-waste hazards, conserving
water in data centers and improving air quality
through renewable energy and efficiency.

Why is Green IT in the Hype Stage?

Market Size
• ‘Macrocosmic’ and ‘Agility’ factors associated
are quite high because of the buzz.
Green IT is
• The concept is relatively new and
projected to reach enterprises are still figuring out ways
$42.9B to implement greener practices.

by 2028 • The relatively high community factor

implies that Green IT can have a lasting and
transformative effect on society across
social, political and cultural spheres.
Challenges for Adoption

15.21%
• Lack of standardization: There is no single, widely
accepted standard for Green IT practices.
• Frequent disposal of devices: Changing the
CAGR devices frequently leads to increased resource
consumption and waste generation.
• High power consumption: The GPUs
used in Green IT consume 10x more
energy than conventional CPUs.
• Affordability: High initial investment can’t
be afforded by many enterprises.

Tech Trends 2024 24

Sustainability Micro Trend:
Decarbonization

Daring Disruptor

Decarbonization becoming a catalyst

for driving collaboration and multilateral
action to address climate change.

Why is Decarbonization in the Disruption Stage?

• Decarbonization may disrupt the

way many sectors function.
• It is expected to create commotion in the
future as the cost of inaction is too high.
• With enterprises realizing the potential
economic benefits along with the larger
environmental impact, decarbonization
is proving to be a real game changer. Business Value
• Enhanced risk management: By reducing
Market Size their GHG emissions, businesses can mitigate
the risks associated with climate change.

Decarbonization is • Improved cost-efficiency: Decarbonization

measures such as reduced energy
projected to reach
consumption and improved resource
$4.06 Trillion utilization lead to operational cost savings.
by 2030 • Innovation and competitive advantage: Drives
technological advancements, enabling businesses
to develop new products, services and processes.
• Regulatory compliance and future-proofing:
Businesses that proactively decarbonize can avoid
potential compliance costs and legal challenges.

11.6% Drivers for Adoption

• The rising cost of carbon emissions will make
CAGR it even more cost-effective for businesses
to decarbonize their operations.
• Need for carbon-based (GHG) accounting
and credits management: Stakeholders are
demanding more transparency regarding
companies’ environmental impacts.
• Technological advancements: There have
been significant cost-effective advancements
in energy efficiency technologies.

Tech Trends 2024 25

Mega Trend:
Quantum Tech
Stage: Hype

Unveiling the next frontier

of innovation, where
complexity meets security
and intelligence

Tech Trends 2024 26

Overview
Quantum technology offers the potential to revolutionize computation, cryptography, and various scientific
fields by leveraging the principles of quantum mechanics. As conventional computers face limitations
in solving complex problems, Quantum technology holds promise for addressing challenges that were
previously unconquerable. Research institutions and technology companies worldwide are actively pursuing
the development of quantum algorithms, protocols, and devices, paving the way for their integration into real-
world applications.

72% 14% 57%

Respondents suggest Quantum Respondents believe Quantum Respondents believe that
Computing and Quantum Cryptography will be pivotal Quantum Cryptography is
Machine Learning will be in revolutionizing the globe in the disruption stage
pivotal in the next 1-2 years

60+40+A
Mega trend landscape - Quantum Tech Industry Impact
Cybersecurity

Pharmaceutical
15%
Pharmaceutical

Finance
Hype 60%
24% Manufacturing
48%
13%
Disruption 40% Cybersecurity Manufacturing Finance

The Quantum Tech Landscape: Understanding the Trends

Top 3 Quantum Tech Micro Trends:

Quantum Computing Quantum Cryptography Quantum Machine Learning

Profitability
ETO Mesh of Possibilities:
Key Findings

Macrocosmic Adoptability
Quantum Computing
1

Quantum Cryptography
1.5
2
2.5
3
3.5
4

Quantum Machine Learning 4.5

Community Agility

Profitability Agility Community

While quantum technologies are With Quantum Computing being Quantum Cryptography is bound
still very new in the technology the most agile in terms of quickly to make a significant impact on
market, their inherent potential to addressing the current and future the overall community due to its
offer limitless compute power is market needs, Quantum Machine ability to facilitate robust, integral
already significantly impacting the Learning is not far behind once and secure communication
revenue streams of early adopters. the technology can find its footing in the quantum era.
with more enterprise use cases.

Tech Trends 2024 27

Quantum Tech Micro
Trend: Quantum Machine
Learning (QML)
Happening Hype

Revolutionizing data analysis with

Quantum Machine Learning (QML)

Why QML?

QML offers a breakthrough in computational

ability, promising to surmount current quantum
computing constraints such as small scale and error
susceptibility by harnessing quantum properties like
superposition and entanglement for more efficient
computation, with vast potential impacts across
drug discovery, material science, finance and AI.

Market Size Why is QML in the Hype Stage?

• QML is still catching up across all parameters

with strong potential demonstrated for
QML is
addressing current and future needs.
projected to reach

$5B
• While it remains in its early stages, the
ongoing advancements, moderate disruption
by 2030 potential and high level of hype make it an
exciting area to follow and invest in.
Challenges for Adoption

• Noise and decoherence: Quantum systems

are susceptible to noise and decoherence,

30%
which can corrupt quantum states and limit
the accuracy of quantum computations.
• Adapting classical ML algorithms to quantum
CAGR systems is not always straightforward and
may require significant modifications.
• Evaluating and benchmarking QML algorithms
is challenging due to the limited availability
of quantum computing resources.

Tech Trends 2024 28

Quantum Tech Micro
Trend: Quantum
Cryptography
Daring Disruptor

Quantum Cryptography paving the way for

robust security and privacy in the quantum era

Why is Quantum Cryptography

in the Disruption Stage?

• It has inherent potential to address

growing market needs while at the same
time positively impacting revenue.
• High disruption quotient of 57%, suggesting
that it has the potential to significantly impact
the way we secure and protect data.
• The world has witnessed successful
demonstrations of Quantum Key Distribution (QKD)
over long distances with commercial QKD systems. Business Value

• Secure communication: It provides demonstrably

secure communication channels, ensuring that
Market Size
messages exchanged remain private and resistant.
Quantum • Indecipherable keys: It enables the
Cryptography is production of encryption keys that
projected to reach are theoretically indecipherable.

$3B • Ensuring integrity: It is a potential technique for

safeguarding the expanding IoT, guaranteeing
by 2028
the integrity and privacy of data sent
between connected devices in smart homes,
smart cities and industrial applications.
Drivers for Adoption

• Crypto-agility allows organizations to adapt to

41.2% new cryptographic standards and quantum-

safe solutions as they become available.

CAGR • Hybrid solutions provide a transitional

path to quantum-resistant cryptography
while maintaining security.
• Cost savings: Crypto-agility in hardware
can avoid significant future costs
related to hardware replacement.

Tech Trends 2024 29

Mega Trend:
Bioengineering
Stage: Disruption

Complex compute,
fabrication, design and
data come together to
disrupt life sciences
and healthcare

Tech Trends 2024 30

Overview
Bioengineering, at the forefront of innovation, converges a range of technologies like nanotech, biochemistry,
3D printing, AI, IoT and quantum computing. This leads to propelling advancements in biomedical
solutions, transforming food and agriculture, all while championing sustainability for a promising and
interconnected future. Tailored medical interventions is one of the most prominent and advanced use
case of bioengineering. These advancements are paving the way for a future where medicine is not a one-
size-fits-all approach but rather a personalized and precise endeavor that optimizes patient outcomes.

58+25+17A
Mega trend landscape - Bioengineering
Nanotech and
Biochemistry

Nanotech and Biochemistry

Disruption 58%
21% Biomedical

Food and
Adoption 25% Agriculture Food and
Agriculture
33% 11%
Hype 17% 35% Biomedical Sustainability Sustainability

The Bioengineering Landscape: Understanding the Trends

Top 3 Bioengineering Tech Micro Trends:

Personalized Medicine Genome Editing Organ-on-chip

ETO Mesh of Possibilities: Profitability

Key Findings

Macrocosmic Adoptability
Genome Editing
0
0.5
1

Personalized Medicine
1.5
2
2.5
3
3.5
4

Organ-on-chip
4.5
5

Community Agility

Profitability Agility Community

The impact of Personalized Personal medicine is leading this The impact of Genome Editing
Medicine and Genome Editing charter of addressing current and OOC is more or less
on revenue streams is quite high, and new market needs due equal on the community. The
with Organ-on-chip (OOC) not far simply to being in the market relevance of each is fruitful
behind. As OOCs are fairly new, longer than the other two. to overall society, whether
they are yet to witness large- for efficient drug discovery
scale impact on profitability. or curing genetic disorders.

Tech Trends 2024 31

Bioengineering Micro Trend:
Organ-on-chip (OOC)

Happening Hype

Organ-on-chip ushering in a new era of ethical,

effective and efficient medical research

Why OOC?

• OOC technology is revolutionizing the field

of bioengineering by providing a more
realistic and human-relevant platform for
studying human biology and disease.

• OOCs mimic the 3D structure and function

of human organs on a microfluidic chip,
allowing researchers to study the effects
of drugs, toxins and other environmental
factors on human tissues in a more controlled
and physiologically relevant setting. Why is OOC in the Hype Stage?

• A fairly high profitability quotient.

Market Size • With extra focus on enhanced drug
discovery and development, OOCs have
gained traction to offer more realistic
OOC is
platforms to test drug efficacy and safety.
projected to reach

$487M • Its ability to mimic physiological conditions

and replace traditional animal testing
by 2028 methods positions it as the next frontier of
disruptive force in biomedical research.

Challenges for Adoption

• Technical complexity: The intricate design

and implementation of OOC systems

33%
require expertise in various disciplines.

• High development and maintenance

CAGR costs hinder adoption, limiting access for
researchers with constrained budgets.

• Lack of standardized protocols and

methodologies creates challenges in replicating
experiments across different OOC devices.

• Scarcity of commercial OOC platforms

restricts easy access for researchers,
slowing down technology integration.

Tech Trends 2024 32

Bioengineering Trend:
Genome Editing

Daring Disruptor

Genome Editing as the flag bearer for a

healthier, more sustainable future

Why is Genome Editing in the Disruption Stage?

• Performing significantly well on 3 out of

5 parameters, implying that it is currently
finding demos of feasibilities in the market.

• Its ability to modify genetic material offers

innovative solutions, signifying that this
technology can revolutionize genetic
interventions, potentially leading to
breakthroughs in healthcare and beyond.

• Its growing pertinence in other industries

like agriculture and biotechnology. Business Value
• Correction of disease-causing genes:
Market Size CRISPR (clustered regularly interspaced short
palindromic repeats) prevents hereditary
diseases and boosts future health.
Genome Editing is • Lifelong protection against infection:
projected to reach CRISPR introduces infection-resistant

$10.6B •
genes for improved lifelong immunity.
De-extinction efforts: CRISPR aids in de-
by 2028
extinction, like reviving the woolly mammoth.
• Creation of new, healthier foods: CRISPR
advances agriculture by enhancing crops
for yield, disease resistance and taste.
Drivers for Adoption

15% • The potential to cure genetic diseases

and enable personalized medicine
CAGR propels genome editing adoption for
transformative medical advancements.
• Genome editing’s role in advancing genetics
and molecular biology accelerates scientific
discoveries, fostering increased adoption.
• Genome editing’s potential in creating crops with
desirable traits addresses global food security,
acting as a driver in the agricultural sector.

Tech Trends 2024 33

Mega Trend:
Blockchain
Stage: Disruption

Enterprises finding niche

in decentralization and
asset tokenization

Tech Trends 2024 34

Overview
Blockchain technology, with its decentralized and 23%
immutable nature, has emerged as a transformative Respondents believe decentralized
force, redefining the very concept of trust in a identity will enable the future of blockchain
connected and decentralized world. By providing adoption on enterprise side
a secure and tamper-proof record of transactions,
blockchain is redefining trust relationships
and enabling new forms of collaboration and 54%
innovation. As the technology continues to Respondents believe cryptocurrency
mature, it has the potential to revolutionize how transactions have most potential for
we interact, share information, and conduct transforming traditional financial systems
business, ushering in an era of trustless trust
in a connected and decentralized world.

The Blockchain Landscape:

37+33+30A
Mega trend landscape - Blockchain
Understanding the Trends
Top 3 Blockchain Tech Micro Trends:
Disruption 37%
Cryptocurrencies
Hype 33%
D-Apps
Adoption 30%
NFTs

ETO Mesh of Possibilities: Profitability

Key Findings

Macrocosmic Adoptability
Cryptocurrencies
0

1
1.5

D-Apps 2
2.5
3
3.5
4
4.5
NFTs
Community Agility

Adoptability Agility Community

It is clear that D-Apps are more Cryptocurrencies and D-Apps are The impact of cryptocurrencies
mature in comparison to its quite agile, as their capabilities is highest on socio-economic
counterparts, primarily because to address growing market and security parameters. With
of its wide range of utility across needs are currently quite high. their capabilities to challenge
different industries. NFTs are not Various governments are also the current financial system and
far behind, with their adoption looking forward to introducing make them more decentralized,
curve likely to rise with Web 3.0. their cryptocurrencies to meet cryptocurrencies are bringing
growing public demand. rapid changes globally.

Tech Trends 2024 35

Blockchain Micro Trend:
Non-Fungible Tokens
(NFTs)
Happening Hype

NFTs revolutionizing digital ownership and

monetization in a decentralized Web 3.0 landscape

Why NFTs?

NFTs solve Web 3.0’s digital ownership issues

with unique, verifiable tokens for items like art and
virtual goods, extending their use to fields such as
ticketing, identity verification, supply chains and
voting, potentially transforming multiple industries.

Market Size Why is NFTs in the Hype Stage?

• An increasing inclination toward agility suggests

its inherent potential to quickly address the
NFTs are
current and future needs of different markets.
projected to reach

$196.7B • The rise of Web 3.0 has attracted many

speculative investors, leading to a surge
by 2030 in the opening of new markets and
monetization opportunities for creators.

• Tech advancements, expanding use cases

and interest in digital ownership, creator
empowerment, the rise of play-to-earn
models and community building.

33.7% Challenges for Adoption

CAGR • Lack of standardized regulatory measures

and platforms can make the NFT space
susceptible to fraudulent activities.

• Valuation complexity arises when NFT owners

artificially boost the worth of an asset for
personal gain, leading to a subsequent drop
in value that impacts other collectors.

• Transactional costs and scalability:

Unpredictable gas (transaction) fees, potentially
surpassing NFT cost, can deter users and
make NFT transactions impractical.

Tech Trends 2024 36

Blockchain Micro Trend:
Cryptocurrency

Daring Disruptor

Fostering a responsible and compliant

crypto ecosystem through robust regulatory
policies and consistent supervision

Why is Cryptocurrency in the Disruption Stage?

• Cryptocurrencies affect socio-economic and

security greatly, aiding adoption but presenting
challenges from their environmental impact.

• Rising crypto interest faces barriers without

stronger regulations for broader acceptance.

• Cryptocurrencies are transforming finance

by challenging traditional models like
banking with DeFi (decentralized finance)
and altering the global financial scene. Business Value
• Financial inclusion: Provide the underbanked
with access to financial services.
Market Size
• Enable instant borderless transactions
without currency conversion.
Cryptocurrency is • Ownership and control: Holders have direct
projected to reach ownership and control over their digital assets.

$64.9B • Some cryptocurrencies allow for programmable

money through smart contracts, enabling
by 2027
automated and conditional transfers of funds.
Drivers for Adoption
• Empower individuals with greater control
over their finances, allowing them to
bypass traditional banking systems.

14.4% • Significant returns on investment attract

investors to the cryptocurrency market.
CAGR • Potential to extend financial services
to the unbanked/underbanked.
• The development of user-friendly cryptocurrency
wallets and exchanges has simplified the process
of buying, holding and utilizing cryptocurrencies.

Tech Trends 2024 37

Mega Trend:
Internet of
Behavior
Stage: Disruption

Stepping into the era

of hyper-personalized
experiences

Tech Trends 2024 38

Overview
The Internet of Behaviors (IoB) is a burgeoning field

40+33+27A
that revolves around the meticulous analysis of user Mega trend landscape - Internet of Behavior
data, with a primary focus on behavioral psychology.
In this dynamic process, digital activities of users
are systematically gathered, scrutinized, and
interpreted to extract valuable insights. IoB stands Disruption 40%
at the crossroads of behavioral science, edge
analytics and the Internet of Things (IoT), leveraging
Adoption 33%
cutting-edge technologies like machine learning
algorithms to capture, analyze and respond to user
behaviors in real time. Ultimately, IoB represents a Hype 27%
transformative approach that enables businesses
to forge deeper connections with customers,
tailor their approaches and navigate the ever-
evolving landscape of consumer preferences.

The Internet of Behavior Landscape: Impact of other technologies on IoB

Understanding the Trends
Artificial
intelligence
Top 3 IoB Micro Trends:
13%
Blockchain
Behavioral Experience Orchestration (BEO) Blockchain

13% 5G/6G
Behavioral Intent Recognition (BIR)
69% 5G/6G

Artificial intelligence 5% Digital Twin

Behavioral Profiling

ETO Mesh of Possibilities: Profitability

Key Findings

Behavioral Experience Orchestration (BEO) Macrocosmic Adoptability

0
0.5
1

Behavioral Intent Recognition (BIR) 1.5

2
2.5
3
3.5
4

Behavioral Profiling 4.5

5

Community Agility

Adoptability Agility Community

The adoption parameter is BEO and BIR being quite closer The overall community impact for
almost in succession for all three to each other indicates their IoB is quite notable. This is likely
trends, implying that IoB is quite inherent characteristics to due to the technology’s potential
mature in making a mass level address the growing market to analyze vast amounts of data
impact. This is primarily due needs quickly. Both technologies to interpret and extract valuable
to increasing personalization hold the potential to not only insights from user psychology.
and customization requests capture customer priorities
coming from end customers. but also influence them.

Tech Trends 2024 39

IoB Micro Trend:
Behavioral Experience
Orchestration (BEO)
Happening Hype

Behavioral Experience Orchestration driving

customer loyalty, retention and business growth

Why BEO?

BEO is essential for modern businesses to

navigate competition by orchestrating customer
interactions across all touchpoints, fostering
loyalty and growth through personalized,
seamless cross-channel experiences.

Market Size Why is BEO in the Hype Stage?

• Significant impact on profitability and

BEO is projected community factors due to rise because
to reach of data-driven customer experiences

$3.3B •
and evolving customer expectations.

With maturity in AI-ML systems,

by 2027
proactive personalization of
experiences has become possible.

• Wide-scale application across industries,

with businesses of all sizes attempting
to jump on the bandwagon.

23.2% Challenges for Adoption

• Nudging and manipulation: BEO could be

CAGR used to nudge or manipulate individuals into
making certain choices, raising concerns
about individual autonomy and exploitation.

• BEO could create echo chambers and

filter bubbles by tailoring experiences to
individual preferences, limiting exposure
to diverse viewpoints and information.

• BEO could lead to over-personalization,

where individuals are only exposed to
tailored experiences, limiting creativity.

Tech Trends 2024 40

IoB Micro Trend:
Behavioral Intent
Recognition (BIR)
Daring Disruptor

Behavioral Intent Recognition paving the way

for new-age human-machine collaboration

Why is BIR in the Disruption Stage?

• Has highest impact on community with

a substantial score on agility, making
it perfect for disruption. It is bound to
create an effective and timely impact if
implemented correctly and ethically.
• Its 50% disruption score signifies
that it holds a moderate potential for
transforming the way organizations
understand and respond to user intent.
Business Value • Anticipating user needs: By recognizing user intent,
• Customized content delivery: Intent recognition AI systems can proactively anticipate user needs,
empowers AI systems to deliver content tailored streamlining the user journey. This ensures a more
to individual user preferences, enhancing intuitive and efficient experience, as the system can
engagement and ensuring that users receive predict and fulfill user requirements in advance.
information that aligns with their specific interests. • Seamless task execution: Understanding user
intent enables AI systems to execute tasks
seamlessly. Whether it’s making reservations,
Market Size ordering products or navigating complex processes,
the system can interpret user intent accurately,
leading to swift and successful task completion.
BIR is projected
to reach • Natural language understanding: Intent

$4.96B
recognition enhances natural language processing
capabilities, allowing AI systems to comprehend
by 2027 user queries and commands in a conversational
manner. This natural interaction contributes to
a more user-friendly and intuitive experience.
Drivers for Adoption
• Personalization: BIR tailors customer

25.2%
experiences by analyzing behavior and
preferences live for targeted marketing.
• AI evolution: Enhanced AI and ML improve
CAGR BIR’s data analysis and pattern identification
for accuracy and efficiency.
• Security focus: BIR enhances surveillance
by detecting threats and preventing crime,
prompted by heightened security concerns.

Tech Trends 2024 41

Mega Trend:
Robotics
Stage: Disruption

Rising accessibility,
flexibility and scalability
of advanced robots

Tech Trends 2024 42

Overview
Robotics is a rapidly evolving field, and ongoing research and development continues to advance the
capabilities of robots, making them increasingly useful and scalable in a wide range of applications.
It combines expertise in various fields, including mechanical engineering, electrical engineering,
computer science, artificial intelligence, and more, to create machines that can sense, think, and
act in the real world. Robots are becoming smaller, lighter, and more flexible, enabling them to
operate in more challenging environments and perform tasks that were previously impossible.

50+32+18A
Mega trend landscape - Robotics Industry Impact of robotics
Manufacturing

Transportation
and Logistics
Disruption 50%
Healthcare

12%
Adoption 32% Transportation

Agriculture
and Logistics
42% 36%
Hype 18% Manufacturing Healthcare 10% Agriculture

The Robotics Landscape: Understanding the Trends

Top 2 Robotics Micro Trends:

Autonomous Robotics Semi-Autonomous Robotics

Profitability
ETO Mesh of Possibilities:
Key Findings

Macrocosmic Adoptability
3.5
3.6
3.7
3.8
Autonomous Robotics 3.9
4
4.1
4.2
4.3

Semi-Autonomous Robotics 4.4

4.5

Community Agility

Profitability Agility Macrocosmic

Profitability for autonomous Autonomous robotics is more The overall macrocosmic impact
and semi-autonomous robotics agile, primarily due to its potential of robotics is quite notable.
is more or less the same, to operate independently, They can be effectively utilized
implying the potential of both bringing in greater precision, for resource conservation,
to help generate revenue while efficiency and cost-effectiveness. optimization and maintenance.
augmenting human potential.

Tech Trends 2024 43

Robotics Micro Trend:
Autonomous Robotics

Happening Hype

The convergence of AI, machine learning

and sensor technology is fueling the
rise of autonomous robotics

Why Autonomous Robotics?

• Autonomous robots are making our lives

safer, easier and more efficient. They are also
helping to create new jobs and opportunities.

• According to a recent McKinsey report, 25%

of capital spending over the next five years
will be allocated to automated systems.

Why is Autonomous Robotics in the Hype Stage?

Market Size
• Its agility and profitability quotient is fairly
Autonomous high, implying how quickly, effectively and
Robotics is efficiently the technology can be deployed.
projected to reach • Major advancements in AI, ML, sensor

$4.1B technology and design have enabled

the development of more sophisticated
by 2028 and capable autonomous robots.

• They can adapt to changing environments

and task requirements, making them
versatile tools for a variety of applications.

Challenges for Adoption

17.5% • Ensuring the safety of humans and property

when autonomous robots operate in dynamic
CAGR and uncontrolled environments is a critical
challenge. Developing and maintaining
autonomous systems is technically complex
and requires expertise in various fields.

• Autonomous robots may face ethical

dilemmas, such as decision-making in
scenarios with moral implications.

• Autonomous systems can be

vulnerable to cyberattacks.

Tech Trends 2024 44

Robotics Micro Trend:
Semi-autonomous
Robotics
Daring Disruptor

The rise of semi-autonomous robotics

is transforming industry 4.0, with
drones leading the charge

Why are Semi-Autonomous Robotics

in the Disruption Stage?

• Its high profitability index is an indicator of

how organizations are seeing its potential in
contributing towards revenue streams apart
from other business and operational benefits.

• They offer a balance between the advantages

of autonomous robots and the control and
oversight provided by human supervision.

Business Value
Market Size
• In sectors like retail and healthcare, they enhance
Semi-autonomous customer experiences by providing a human
Robotics is touch while benefiting from automation.
projected to reach • Semi-autonomous robots are well-suited

$16.7B for long-term deployments in industries that

require both precision and adaptability.
by 2028
• The lower upfront investment and maintenance
costs make them a more cost-effective option.
They can be scaled gradually as needs evolve.
• They provide a smoother transition for businesses
and workers, allowing for gradual adoption

17.4%
and acceptance of robotic technology.
Drivers for Adoption

CAGR • They can help reduce the risk of accidents by

automating tasks that are hazardous for humans.
• They can help businesses collect and analyze
data that can be used to improve operations.
• They can help to perform complex tasks that
are difficult or impossible for humans to do.

Tech Trends 2024 45

Looking ahead:
What’s in store for
these emerging
technologies?

Tech Trends 2024 46

Prioritizing the Mega Trends

While the technologies are all distinct and have their own respective maturity lifecycles, we believe
they all can have significant impact. What is even more exciting is the convergence of these
technologies to form combinatorial trends to deliver double the impact and double the innovation.

The proposed framework is for structuring the enterprise priorities in a time-to-realization model
via the 3A (Adept-Adapt-Adopt) approach. The 10 Mega Trends have been strategically placed
with respect to their time to realization, based on surveys and conversations conducted.

The size of the individual bubbles is determined by the overall impact of these
technologies across 5 parameters (ETO Mesh of Opportunities).

Impact

Phase Profitablity Adoptability Agility Community Macrocosmic

Adept

Adapt

Adopt

Legend: High Medium Low

Adopt
(Innovation at Edge)

Adapt

AI Adept (Inn
ov
at
i
Sustainability
on

Cloud
at

Metaverse
Co
re)

Quantum
5G NOW technologies

IoB
Blockchain

Robotics Bio-
1 -2 y e a r s Engineering

2 - 5 y e a rs

5 + y e a rs

3A Framework

Tech Trends 2024 47

What’s Next?

Technologies that are What’s next in 5G?

expected to scale 5G is expected to play a major role in the

development of next-generation technologies, such
as 6G and AI. 5G will provide the foundation for
these technologies to reach their full potential.
Adept (Inn 5G trend in action
ov
at → Remote vehicle monitoring and diagnostics
i
on

Cloud → Asset tracking

at
Co

→ Improved remote streaming and monitoring

re)

5G NOW What’s next in Cloud?

Cloud computing is expected to rapidly evolve

IoB due to innovation, demand and technological
advancements, while edge computing
is bringing computing and data storage
closer to network edges, aiming to reduce
1 -2 y e a r s latency and improve IoT performance.

Cloud trend in action

→ General purpose AI calculations

Cloud IoB
on HIPAA-compliant data
Impact score - 3.74 Impact score - 3.96 → Government sensitive projects on
Interest score - 14.6% Interest score - 7.53% national security investigations
Risk score - 3.23 Risk score - 3.31
→ Conducting experiments without
exposing trade secrets
5G

Impact score - 3.67

Interest score - 9.5% What’s next in Internet of Behavior?
Risk score - 2.58 IoB devices, embedded in everyday objects,
infrastructure and environments, will
collect vast data, providing insights into
behavior, preferences and personalization,
leading to adaptive learning systems.

IoB trend in action

→ Fitness and wellness tracking

→ Fraud detection
→ Employee productivity and engagement

Tech Trends 2024 48

Technologies that are to
be revisited

Adapt What’s next in Bioengineering?

Bioengineers are developing new technologies

AI Adept to interface with the nervous system. This
(Inn
ov
at could lead to breakthroughs in treating
i
neurological disorders, restoring lost functions
on
at

and enhancing human capabilities.

Co
re)

NOW Bioengineering trend in action

→ Agricultural improvements
Blockchain
→ Biological computing
Robotics Bio-
Engineering → Genetically Modified Organisms (GMOs)

2 - 5 y e a rs
What’s next in Blockchain?

Blockchain networks will become interoperable,

AI Robotics enabling businesses to develop applications, with
privacy-preserving and permissioned solutions
Impact score - 3.78 Impact score - 4.17
gaining traction, especially in industries handling
Interest score - 33% Interest score - 3.45%
sensitive data like healthcare and finance.
Risk score - 3.54 Risk score - 3.64
Blockchain trend in action
Blockchain Bio Engineering → Content licensing and royalties
Impact score - 3.39 Impact score - 4.48 → Virtual events and experiences
Interest score - 5.18% Interest score - 2%
Risk score - 3.73 Risk score - 3.00 → Identity verification

What’s next in AI? What’s next in Robotics?

AI is not just a standalone technology but also Robots will become more dexterous and adaptable,
an enabling force for others, with advanced able to handle a wider range of tasks and operate
technologies like GenAI making it increasingly in complex environments. This will be driven by
commercial and augmenting humans. Where advances in AI, ML and sensor technology.
the conventional AI technologies (like machine Robotics trend in action
learning, deep learning etc.) are advancing
progressively and making the impact sooner, more → Drones
advanced AI technologies like GenAI are making → Space robotics
the technology more and more commercial.
→ Animaloids
AI trend in action

→ Automation and optimization

→ Data analysis and decision making

→ Predictive and generative applications

Tech Trends 2024 49

Technologies that are to What’s next in Metaverse?

be experimented The metaverse will not be a single, monolithic

platform but rather a collection of interconnected
virtual worlds and experiences. This will lead to
Adopt a more diverse and customizable metaverse,
(Innovation at Edge)
catering to different interests and preferences.

Adapt Metaverse trend in action

→ Education and training

Adept (Inn
ov
at
i
Sustainability
→ Transforming workplaces and collaboration
on
at

Metaverse
Co

→ Urban planning and architecture

re)

Quantum
NOW technologies

What’s next in Sustainability?

Navigating between Adapt and Adopt currently,

.sustainability will be crucial in addressing climate
change, resource scarcity and social inequality,
focusing on renewables, electric vehicles, circular
5 + y e a rs manufacturing, sustainable cities and more.

Sustainability trend in action

Sustainability Quantum Tech.
→ Ethical manufacturing
Impact score - 4.12 Impact score - 3.60
Interest score - 11% Interest score - 6.6%
→ Sustainable farming practices
Risk score - 3.02 Risk score - 3.2 → Water conservation

Metaverse
What’s next in Quantum Technologies?
Impact score - 3.31
Interest score - 7.53% Quantum technologies will integrate with existing
Risk score - 3.17 computing and communication infrastructures,
enabling hybrid solutions that combine
quantum and classical systems, enhancing
precision and sensitivity in quantum sensors.

Quantum Technologies trend in action

→ Secure communication channels

→ Quantum generative models

→ Financial modeling and optimization

Tech Trends 2024 50

About The
Tech Trends
Report

Tech Trends 2024 51

Tech Trends 2024:
An Overview
Tech Trends 2024 in Numbers

Respondents Engaged Sentiments Analyzed Mega Trends Micro Trends Leaders Engaged

Tech Trends 2024 in a Nutshell

Global Impact Industry Implications Embrace Tech Trends 2024

The convergence of these trends Most of these trends are Proactively identify
is poised to reshape the global horizontal in nature, with potential technology catalysts for
economy by enhancing productivity implications across all major business transformation.
and amplifying experiences industries, positioning technology
while ensuring security stays not only as an aiding element but Evaluate long-term and short-
omnipresent. Adoption of these transforming the core business. term technology implications
trends demands transcendent and craft strategies in line
ecosystem collaboration. Opportunities with business needs.
The biggest opportunity is Focus on developing a continuous
Challenges presented by the convergence of cultural cycle of upskilling:
Global standardization, these trending technologies. This Learn-Unlearn-Relearn.
responsible adoption and will unlock new business solutions,
workforce readiness are enabling competitive excellence
the key challenges that and exponential value creation.
need to be addressed.

Tech Trends 2024:

The Methodology
The Tech Trends report follows the HCLTech ETO’s infinity framework, a continuous cycle encompassing
research, analysis and curation of the technology trends anticipated to exert significant impact over the next
12-24 months.

This year’s report is the culmination of extensive year long research conducted across various phases:

Step 1: Involves secondary research utilizing sentimental analysis, meticulously analyzing over 75,000 data cells.

Step 2: Incorporates primary surveys, at both the consumer and the professional level, involving
more than 40,000 participants at the consumer level and 74 technology leaders at the
professional level, to determine the adoption trajectory of individual mega-trends.

Step 3: Engaging in focused group discussions and personal interviews

with leaders to mitigate any potential research biases.

Step 4: Introduces two new strategic frameworks for charting the future roadmap:

Tech Trends 2024 52

ETO Mesh of Possibilities 3A Framework (Adept-Adapt-Adopt)
This framework is a comprehensive way of This framework provides strategic guidance
representing technologies across 5 broad on navigating the challenges of each trend in
parameters/factors that underscore how much the upcoming 12-24 months. The top 10 mega
the technology in question will trend in the trends identified for 2024 have been classified
coming year. The 5 factors considered are: into the 3A framework depending upon when
enterprises should start acting on them.

Profitability

Macrocosmic Adoptability

Community Agility

Profitability Adopt (Innovation at edge)

1. What is the technology impact on potential revenue streams? These technologies have shown good promise and will provide
2. How much financial potential does the technology hold? the edge to ensure businesses stay resilient as these technologies
become mainstream in the next 5+ years.
Adoptability
1. How easily can the technology get adopted in different markets?
Action Plan:
2. How quickly can it scale? • Understand market progression, identify new skillsets and conduct PoCs
Agility • Begin research and identifying relevant use cases/applications

1. How effective is the technology in addressing current needs?

2. How reliable is the technology to cater to future demands?
Adapt
Community These technologies have already been experimented with
1. What is the impact on socio-cultural and geopolitical scenarios? across industries and have now progressed further with recent
2. How secure is the implementation at mass level? advancements and new use cases. Enterprises should reassess the
Macrocosmic technology’s compatibility with their present and future strategies
1. What is the impact on larger sustainable goals? for transformation in the next 2-5 years.
2. How does the tech help in attaining larger ESG goals rapidly?
Action Plan:
• Start active evangelization and attaining competitive excellence
• Continuously identify additional relevant use cases that can be applied

Adept (Innovation at core)

These technologies have showcased their impact at scale across
industries. Enterprises should look at active expansion, try to
integrate these technologies to the core and attempt to achieve
operational excellency in the next 1-2 years.

Action Plan:
• Prepare to scale to different markets while considering
socio-economic and macrocosmic impacts
• Attract and retain top talent to stay relevant in the market

Tech Trends 2024 53

Our Approach to Identify the Top 10
Tech Trends for 2024
This report explores 10 mega trends revolutionizing How are the Micro Tech Trends 2024 classified?
the digital world. Each mega trend includes two
micro trends that are driving the mega trend forward. Each of the 20 Micro trends have
been classified into two areas:
How were Tech Trends 2023 actioned?
→ Happening Hype: This segment
• Tech Trends in Action (TTiA) is an internal covers technologies that are
annual program launched to identify potential witnessing new advancements.
use cases across the 10 tech trends. Last
year ~12,000 HCLTechies across the globe → Daring Disruptors: This covers technologies
were associated with this program. that are witnessing the demo of feasibilities.

• Based on the ideas, skillsets and existing portfolio

of solutions/services, a feasibility scan is done Micro trends
to check how these trends will perform.

• External market sentiment and customer pulses

are also gauged via different engagements. Happening Hype Daring Disruptors

• Possible adoption challenges are identified to • Rapid • Demo of

better chalk out/refine the trends for next year. advancements feasibilities
are taking place
• More and more
How are the Mega Tech Trends 2024 shaped? • More and more entreprises are
entreprises are experimenting
• The overall stage of each of the 10 mega trends talking about it on it
has been classified into: (1) Hype (2) Disruption
(3) Adoption depending on their maturity cycle. • Early stages of • Competitive
proof of concept advantage
• The ETO Mesh of Possibilities is introduced starts getting
for the first time to gauge the impact of the established
10 mega trends across 5 parameters.

How are the Mega Tech Trends 2024 prioritized?

Profitability Finally, the 3A strategy is applied to the
10 mega trends, categorizing them into
3 broad areas for prioritization:
Macrocosmic Adoptability
• Adept (1-2 Years): Technologies
in which enterprises should start
active expansion and growth.

• Adapt (2-5 Years): Technologies in

Community Agility which enterprises should start gaining
competitive edge and actively action.

• Adopt (5+ Years): Technologies in which

enterprises should start investing and
identifying relevant use cases/applications.

Tech Trends 2024 54

About Tech Trends 2024
The trends are based on reflections formed from market research and ecosystem sentiment.
They are liable to change based on market dynamics and may only cover a part of the technology
landscape. Our goal is to draw upon the research and experience from our ecosystem of
startups, VCs, academia, customers, innovation forums and government trade commissions to
advance the conversation on a broad spectrum of topics of interest to industry leaders.

Primary Research Secondary Research

Primary research involved two levels: (1) Consumer An extensive secondary research has been done by
and (2) Professional. Secondary research analyzing various technology reports, analyst reports,
findings were reaffirmed through a 35-day news mentions and podcasts from venture capitals.
global survey. Leading technologists and market After the observations, a statistical weighted average
leaders endorsed these trends via 1:1 interviews, method has been used to evaluate these trends.
providing primary inputs for the proposed
strategic prioritization of the 10 mega trends.

Analyzing the Sentiments of the technologies

News mentions IT budgets
Market sentiment was gauged by analyzing
information from the below sources. These
VC funding Customers
sentiments were then consolidated into a
final score, calculated via our proprietary
weighted average methodology. Market size Analyst mentions

Survey Demographics

Respondent Roles Percentages* Industries Percentages*

Executives 28% Technology 39%

Presidents 8% Bpm Services 7%
Directors 58% Banking & Insurance 8%
Regional Heads 4% Telecom 6%
Healthcare 5%

Regional Impact Percentages* Manufacturing & Automotive 6%

Asia 52% Travel, Transport, Logistics & Hospitality 4%

North America 33% Energy & Utilities 2%

Europe 11% Public Sector & Education 4%

Africa 1.5% Retail & Consumer Goods 1.4%

South America 0.5% Media & Entertainment 1%

Oceania 1% Oil & Gas 1%

Mining & Natural Resources 1%
Disclaimer: The information on this document is provided for
information purpose only. It does not constitute any offer, Aerospace & Defense 1%
recommendation or solicitation to any person to enter into any
Others 16%
transaction or adopt any hedging, trading or investment strategy,
nor does it constitute any prediction of likely future movement
in rates or prices or any representation that any such future *The overall percentages have been rounded off and
movements will not exceed those shown in any illustration. hence the total might not result into complete 100

Tech Trends 2024 55

About Enterprise
Technology
Office (ETO)

Accelerating future tech in HCLTech

Responsible for driving innovation and thought

leadership across the HCLTech horizons, the ETO
team has incubated various emerging technologies
that have a potential future and positions
HCLTech at the forefront of thought leadership.

Business units and initiatives:

HCLTech Trends: ETO’s annual

exercise of launching the global
technology market landscape

HCLTech MetaLabs: HCLTech MetaLabs is

where you will find 40+ HCLTech industry
creator zones in the world of virtual reality

HCLTech SportsTech: Strategic open innovation

ecosystem dedicated to the field of SportsTech

HCLTech eSTiP™: ETO’s flagship open innovation platform and program

HCLTech Q-Labs: HCLTech Q-Labs is the flagship quantum business unit stationed
on four strategic pillars: academy, RandD, industry offerings and ecosystem

Tech Trends 2024 56

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