Esports has become one of the fastest growing industries in recent history. GWI Gaming reported that 40% of esports followers consider gaming as a legitimate pastime and sport. Revenues are also predicted to reach USD$1.8bn by 2023 and viewership is also estimated to reach a total of 646 million people.
E-commerce is the process of selling goods and services via the internet. It has vastly changed the way people purchase products across the world. The three types of e-commerce are:
- Business-to-business (B2B)
- Business-to-consumer (B2C)
- Consumer-to-consumer (C2C)
Biotechnology, in cost-benefit terms, has been improving by 10 times every year. The cost of deciphering the human genome has decreased from $3 billion in 2001 to about $1,000 today. The global biotechnology market size is expected to be worth around US$ 3.44 trillion by 2030 from valued at US$ 852.88 billion in 2020.
Artificial Intelligence is the simulation of human intelligence processed by machines. The global artificial intelligence as a service market size was valued at USD 5,608.6 million in 2021 and is expected to expand to USD$96,064.7 Million at a compound annual growth rate (CAGR) of 37.1% from 2022 to 2030
The last few years has seen major growth in hardware, especially among IoT (Internet of Things). By 2025, there will be over 152,200 IoT devices connecting to the internet every minute. The global IoT market was also affected by the COVID-19 pandemic. The estimated value in 2020 was $742 billion, with hardware accounting for 30% of that.
Investments into robotics companies has risen exponentially.
According to Crunchbase, in 2021, over USD$17bn was poured not VC-backed robotic startups, almost tripling that of 2020.