Technology is evolving at a breakneck speed today. 

For end-users, it is ushering in an era of higher personalization, greater ease, and enhanced efficiency.
For businesses, it means having to keep jumping on the fast-changing tech trends.  And that can be complicated. 

Which tech trends are just a passing fad?
Which technology trends are worth following in 2023? 

Let facts guide you and not just what’s buzzing. Check out the top technology trends for 2023 (based on deep analysis and data) right here. 

New trends come and fade away every other day. But here are the top trends that won’t fizzle out and will continue to reign in the market in 2023 and beyond.

Artificial intelligence (AI) refers to the ability of a machine to perform tasks that normally require human-like intelligence. Today, AI can understand language, recognize images, make decisions, and solve a variety of problems. There are many different ways to create AI. Some of the most common techniques include machine learning, natural language processing, and robotics.

1/3rd of organizations are using AI in some or the other form today. And in 2023, AI and related technologies will continue to advance. In fact, the AI market valuation is expected to reach $500 trillion by the end of 2023. 

It will also become more widely adopted, with over 100 million people working in the artificial intelligence industry by 2025. 

Such an exponential growth of AI will potentially lead to the development of new products and services, as well as improving existing ones.

For businesses not leveraging AI, it is a sign to partner with an AI technology partner today. It will help them get on par with competitors. And also improve efficiency and outcomes across departments. 

Also, it is not necessary to sanction big-budget investments in AI. You can also leverage AI on your website and see great results.  

Blockchain technology is well-known for powering cryptocurrencies like Bitcoin and facilitating smart contracts. But that’s just a portion of its potential. It can revolutionize several other industries too. How? By providing a secure and transparent way to store and transfer data and assets.

And the blockchain market is expected to reach $20 billion in revenue by 2024. And with a CAGR of  85.9% between 2022 to 2030, it will reach $1,431.54 billion by 2030.

FinTech and healthcare are two key niches leveraging blockchain today. 

The financial sector accounts for 30% of the total blockchain market.
And by 2028, blockchain and healthcare will reach $1189.8 million with a  61.3% CAGR.

The key factor behind the growth of blockchain and its continued rise is that it offers the best combination of safety and convenience.

IoT refers to the network of physical objects (like devices and appliances) that are connected to the Internet and can collect and exchange data. 

As of now, there are more than 13 billion IoT-connected devices across the globe. And the market is worth $800 billion. 

By 2030, this number is expected to reach 25.4 billion. That would make 75% of all the devices at that time IoT-connected. 

The figures make it clear that the Internet of Things trend is expected to continue growing in the coming years. It is likely to lead to the development of smart cities, smart homes, and other connected environments. 

The Internet of Things can also be used by businesses for:

• Industrial automation, 
• Improving patient outcomes, and
• Ensuring more sustainable and efficient agriculture.

There are a lot of IoT integration opportunities for solar sector businesses.

Virtual and augmented reality technologies are among the top trends. And that has been the case for a couple of years now.

As of 2022, 23% of American households possessed a VR headset. 

And these technologies will continue to mature and become more widely adopted. They can also potentially lead to the development of new applications.

It is predicted that by the end of 2023, there will be 1.4 billion augmented reality devices. In fact, 70% of Americans said that AR is likely to become an important part of their everyday lives. 

The integration of AR and VR with other emerging technologies is also likely to happen. 

The use of virtual reality in mobile app development, for example, has various benefits. Mobile app development too can receive transformational benefits from AR. Augmented reality also has several known use cases in eCommerce. 

Technologies such as IoT and artificial intelligence can be used with AR/VR to create new and more immersive experiences.

This will open up more opportunities for businesses to engage with their audience and convert them into customers. 

5G is the latest generation of mobile networks. And it holds the potential to change the way we communicate. It offers significantly faster speeds and lower latency than previous generations. And 2023 is going to be a monumental year with 5G rollouts happening across the globe.

In fact, by 2024, 1.5 billion people will have access to 5G. And according to reports from Ericsson, 5G is expected to reach 4.4 billion subscribers by 2027. This will be one of the fastest global rollouts. 

With 5G, new applications and services that rely on high-speed, low-latency connectivity will become a norm. Also, the use of AR and VR technology will see a boost. For businesses having mobile apps and those planning to get mobile apps developed, 5G will present various opportunities for better engagement with customers.

The aforementioned technology trends are likely to have the biggest impact on businesses. But the list is not exhaustive. There may be many more trends that you should pay attention to, based on their relevance to your business.

Businesses don’t operate in silos today. They need to evolve and adapt in tandem with the latest trends around them. And it is especially important for businesses to continue leveraging the latest technology trends. 

It is important not just for keeping audiences engaged and customers happy. Technology adoption is also important for keeping competitors at bay and revenues steady and soaring. 

No matter which trend you feel fits the closest to your business needs, you should look for a technology partner you can trust. 

With dedicated technology partners, you can gain the benefits of custom development. With end-to-end product engineering services, a technology partner can help you:

1. Bank on the latest technological advancements.
2. Solve the most pressing business problems with ease.
3. Adapt to the latest technology trends. 
4. Keep all stakeholders happy.
5. Ensure long-term business growth.

At SynergyTop, we have a team of 50+ experts with deep domain experience in various current and emerging technologies. 

Moreover, we offer:

1. MVP development within 8 weeks
2. Dedicated QA and testing
3. Technology consultation
4. Ongoing support and maintenance after project deployment

So what are you waiting for? 

Have a project idea in mind? 

Schedule your consultation with our technology experts today.