In the three months making up the last quarter (July through September), venture capital spending in the United States grew to $16.3 billion. Technology, media and healthcare were among the industries to reap this rise in financial investment.
Whether it’s advanced apps, cutting edge software, efficiency tools or sustainability strategies, technological innovations are changing the world we live in, rapidly. Fifteen years ago, apps referred to a dish served before an entrée, and efficiency and sustainability were not part of our daily vocabulary. However, less than two decades later, we have heralded the advent of smartphones, made our homes more efficient, and are concerned about environmental sustainability.
The rise of technology has also changed the investment cycle. Forrester, a marketing and management company, has called the current period “The Age Of The Customer.” The company believes this heightened focus on the individual has changed the classic technology investment cycle. “… technology management spending will grow by five percent in North America in 2016,” wrote Forrester’s Brian Hopkins. “However, spending on business technology — the things that let firms win, serve, and retain customers — will be double that.”
With spending and investment expected to grow sector-wide in the next year, what are some of the new trends in technology we can expect to see?
The rise of health focused apps
In June, Apple announced that since 2008, 100 billion apps had been downloaded from the Apple app Store. Apps have become synonymous with our unique needs and interests and have personalized our phones and tablets.
But, what if apps could help take care of us?
Cameron Chell, a Canadian author and entrepreneur, envisions a near future where apps will be instrumental in the diagnosis and treatment of a variety of ailments. “Apps are a great tool to integrate health care software into the daily life of patients, because almost everybody has a smartphone,” said Chell. “They are also comfortable using their device, so there isn’t the learning curve that comes with brand new devices or software.”
Cameron Chell, who has successfully launched multiple startups in a variety of sectors, is currently working on Health Outcomes Worldwide (HOW), a wound-identifying, monitoring and healing app. “HOW was created to improve the quality of life for people suffering with wounds and reduce wound care costs and healing times,” Chell pointed out. “Our technology uses a set of Point of Care Intelligent Tools (POCIT) to access a large database of clinical documentation in the area of wound care.”
Smart monitoring technology
The technology behind your bluetooth headset and the wireless printer is being used to make things like oil wells and even street lights more efficient. Utilizing the Internet of Things (IoT) (the network digital devices communicate on) these intelligent devices and monitors connect to one another to share data.
Analysts predict the next year will see exponential growth in the smart market. Because these technologies rely on cloud services and Big Data there will also be growth in the data security sector.
3D Printing Materials
While 3D printing isn’t new, we have only scratched the surface of the potential this technology offers. Some of the greatest 3D printing innovations are forecast for the health sector. Projects are currently underway to print organs and medical devices. Researchers in the Netherlands are working on 3D teeth that will be made of a special plastic that kills bacteria on contact.
Technology is constantly evolving and maturing, much like society. From businesses to individual consumers, technological innovations allow everyone to stay connected to everyone, everywhere, all the time. With invention and innovation to continue its annual growth throughout the technology sector, the possibilities for where these technologies will take us and how they can impact our lives are endless.
