Horizons
Segments
Disruptive Trends
Technologies
Radar View
Industries must prepare for a constantly evolving technological landscape to remain relevant. At LTM, we understand the importance of leading the way in innovation and being aware of beyond-the-horizon technologies. LTM's extensive Technology Radar 2024 gives you information on the newest trends and emerging technologies in different segments. Our growth strategies are driven by the future and provide an early warning system for everyone, from developers to CTOs. Collaborate with end-users on upcoming tech trends and stay ahead of the competition. Discover the potential of LTM's Crystal Radar today!
Technology Radar 2024 - An LTM Crystal Report
Introducing LTM Crystal Technology Radar 2024. A comprehensive visualization of emerging technologies that are shaping industries. Curated by technology and industry experts, the radar plots 66 technology elements across four segments and evaluates them based on three criteria: horizon, market potential, and the adoption phase. This provides you with a lucid perspective of the current and future trends and technological buzz that will assist you in shaping your IT strategy.
Stay ahead of the curve with our Technology Radar 2024!
Download Full Report
- Interactive Tech
- Data and AI
- Cloud, Infrastructure, and Security
- Digital Platforms and Operations
Interactive Tech bridges the gap between the physical and digital worlds by adding digital features to the real world through devices like smartphones and AR/VR headsets. Enterprises create immersive digital experiences by offering personalized content and frictionless transactions by harnessing spatial data. Businesses design unique experiences, making them more powerful and engaging. Interactive technologies unleash countless opportunities for immersion and personalization, leading the way for digital innovation.
Top 5 Technologies in Interactive Tech
Enterprises are strategically investing in cultivating trust and acceptance of hyper personalized systems. Capabilities focusing on natural interfaces like voice, gesture, and emotion recognition to deliver humanized user interfaces enable to gain focused insights quickly, improving decision velocity. Natural language is crucial in humanized UI design as it encourages user interaction using plain language and avoiding technical jargon. Using visually appealing cues such as icons, colors, and animations can improve interface navigation and user confidence.
Key takeaway
The market is proliferated with devices and sensors to ensure humanized interfaces. This will unfold new-age immersive and frictionless experiences. Promoting user satisfaction and operational efficiency leads to an always-optimal experience.
Leading tech players are pushing the limits of new-age immersive experiences with MR headsets. MR devices use sensors and cameras to understand the user's environment, providing a more immersive experience by joining virtual objects into the real world. Computationally heavy spatial algorithms are enhancing object recognition and real-time interactions in MR experiences. Sales, maintenance, and warehousing operations are evolving with interactive demos, remote assistance for repairs, and intuitive navigation features.
Key takeaway
Mixed reality will arrive sooner than expected due to advancing technology becoming more compact, efficient, and affordable. Some challenges, such as hardware technology, privacy and security, user acceptance, etc., must be acknowledged for the success of mixed reality.
Smart spaces thrive on the pillars of intelligent edge, connectivity, PropTech, and sustainable urban planning. With sustainability taking center stage across industries, nations are embracing Greenfield plans to ease challenges in established cities. Global organizations are driven to convert diverse environments into intelligent, secure, and resource-efficient spaces in cities, buildings, factories, or business estates.
Key takeaway
Organizations should prioritize constructing accelerators to integrate diverse devices, facilitating the creation of smart applications and seamless interweaving of different data classes within smart spaces.
While still in its early stages, spatial computing has already found practical applications in areas like GPS navigation, wearable devices, and transportation. As the penetration of AR/VR and 5G technologies reaches the masses, we can expect the potential of spatial computing to expand significantly. This technology enables dynamic 3D visualization within prisons, capturing real-time product, industrial space, and worker interactions.
Key takeaway
As the ecosystem matures and collaboration strengthens, the true potential of spatial computing will become clearer. Expect technological advancements in remote collaboration, prototyping, and hyper-realistic virtual worlds.
Advancements in technology and increasing usage have resulted in notable progress in the VR sector over the past few years. Other factors driving its growth include the rise in content production, the widening range of industries adopting it, and the growing demand from consumers seeking immersive experiences. Furthermore, continuous enhancements in technology, reduced costs, and the increasing use of virtual reality devices contribute to the expansion of the industry.
Key takeaway
Multi-sensory experiences are becoming the dominant focus of future development in VR. Companies need to prioritize adaptability as a crucial factor in VR. Utilizing VR technology is already facilitating learning and advancement in professional fields.
Traditional Business Intelligence (BI) models can't keep up in the modern age, where data is the new oil. Data and AI solutions are built with the objective of providing modern, automated, and correlated SDLC assets, enabling insights-powered business outcomes. Next-generation AI-powered solutions converge people, processes, tools, and bots. It empowers customers to digitize and optimize their IT operations by leveraging automation, analytics, machine learning, and democratized generative AI. Managing data in a smart, easy, and compliant manner, these technologies can help link disparate sources and guarantee data integrity.
Top 5 Technologies in Data & AI
The potential of AI-augmented development technology to revolutionize software development processes is significant. Gartner's prediction that by 2028, 75% of enterprise software engineers will use AI coding assistants reflects a growing trend in technology adoption. This convergence of human ingenuity and artificial intelligence in software development is arguably the hottest area in the industry. AI-augmented development tools also allow engineers to concentrate on higher-level tasks such as application design.
Key takeaway
Enterprise Leadership must actively facilitate the widespread adoption of AI coding assistants by enterprise software engineers while balancing AI use with human innovation and creativity.
The adoption of ambient computing is set to transform branding and marketing by providing interactive product placement opportunities. Fueled by data from transactions and external ambient sources, intelligent applications are set to deliver insights seamlessly within existing business apps, eliminating the need for separate business intelligence tools. This advancement promises heightened convenience, personalized experiences, enhanced efficiency, and improved resource management.
Key takeaway
Ambient computing reduces energy consumption through resource optimization but still requires a robust network of sensors and data centers with their energy footprint. Balancing efficiency gains with infrastructure costs is essential.
The tech industry is moving towards developing smaller AI models that promise enticing benefits such as democratized usage access, lightning-fast performance, and privacy protections. Compact LLMs have built-in benefits, excelling in efficiency, cost-effectiveness, and customization compared to LLMs. Due to the smaller number of parameters, compact LLMs are significantly quicker than large ones like Chat GPT. Also, compact LLMs open up the possibility of being easily fitted into sensors and IoT devices as they require less memory and storage space.
Key takeaway
Larger organizations are willing to reduce their reliance on capital-intensive investments and move towards utilizing cheaper AI models, which require smaller LLMs even if they do not perform as well as larger LLMs but manage to get the job done.
Democratized Generative AI is aimed to provide assisted intelligence in marketing, education, art, scientific analysis, and non-tech users in daily tasks and hobbies. According to Gartner, by 2026, over 80% of enterprises will adopt Gen AI APIs, a sharp rise from 5% in 2023. Democratized Generative AI sparks innovation by breaking barriers in art and design, enabling rapid ideation and quicker product launches. Democratization of generative AI has revealed myriad benefits in ai-augmented development, conversational systems, and hyperautomation.
Key takeaway
Democratized Generative AI empowers users with curated intelligence, equipping them for growth. IT leaders should leverage its potential for productivity, cost reduction, development, and risk management.
Explainable artificial intelligence (XAI) has burst onto the scene, rapidly developing with exciting potential to complement and even supercharge the capabilities of generative AI. XAI’s ability to decode the complex inner workings of neural networks and translate them into understandable human terms. This unlocks several doors as researchers are delving into innovative ways to visualize and communicate these computational outcomes. XAI enhances the precision and efficiency of AI systems and contributes to their improvement.
Key takeaway
Advancements in XAI are critical for ushering in an era where AI seamlessly integrates into our lives. XAI offers the key to unlocking the full potential of AI-enabled systems, paving the way for a future where humans and AI can collaborate effectively and transparently.
Cloud technology brings speed, precision, security, safety, and transformative capabilities, opening new possibilities for both customers and service providers. Businesses hungry for innovation accelerate their cloud strategy with modern engineering tools, processes, and comprehensive efficiency kits. As digital workplaces, mainframe modernization, and multi-cloud platform management are progressing, cloud technologies are adapting to the varied needs of modern businesses, moving to industrial and distributed models. This fusion of IT and OT allows for scalability, resilience, and adaptability, creating transformative change across industries and defining the future of IT modernization.
Top 5 Technologies in Cloud, Infrastructure, and Security
Distributed cloud refers to the next generation of cloud computing, in which resources like computing power, storage, and microservices are accessed on-demand instead of being managed by the user. It is supported by decentralized strategies such as Secure Access Service Edge (SASE) and is expected to help drive the growth of edge computing as a business strategy. Distributed cloud architecture has the potential to disrupt multiple industry sectors. It will also be significant in determining how 5G networks are designed and deployed.
Key takeaway
The distributed cloud undoubtedly forms the next generation of cloud platforms. A rise in IoT and data-intensive systems endorsement can speed up its adoption.
Post-quantum cryptography takes advantage of mathematical properties that are expected to be difficult to compute on both classical and quantum computers. The most common approaches include lattice-based encryption, multivariate encryption, hash-based signatures, code-based encryption, hypersingular homogeneous encryption, and symmetric key encryption, which are not based on quantum principles.
Key takeaway
The adoption of post-quantum cryptography is increasing due to the recent advancements in quantum computing space. Defense, government sectors, finance, and healthcare are early adopters of this technology.
Quantum phenomena like superposition and entanglement enable quantum computers to tackle certain complex problems much faster, which are otherwise intractable to classical computers. IDC anticipates consistent growth, forecasting an 11.5% CAGR in quantum computing investments from 2023 to 2027. This trajectory is expected to culminate in an estimated market value of around USD 16.4 billion by the end of 2027. Quantum computing has the potential to transform data processing, quicker computations, heightened encryption, and enhanced ML capabilities. The increasing development of robust systems will drive a substantial rise in the demand for cloud-based computing solutions and services.
Key takeaway
Quantum computers have the potential to solve very large combinatorial optimization problems in finance, logistics, energy, materials science, drug discovery, etc. Governments and industry leaders are actively formulating quantum algorithms and preparing for the upcoming quantum computing era.
Organizations that have a sustainable focus in mind usually tend to perform better than their competitors. New-age consumers are driven by consuming more transparent, sustainable products aligned with their core values. Consumers are also being mindful of their purchases and their environmental impact. 90% of consumers were ready to pay a premium if it met their sustainability criteria, according to a Survey from 2022. Sustainability technology is a game-changer for organizations, accelerating social-ecological growth and increasing efficiency.
Key takeaway
Sustainable technology products and practices advocate for sustainable product life cycles, aiming to minimize environmental impact. It seeks compliance, competitive advantage, reduced climate change factors, and reduced emissions. Therefore, Technology sustainability will continue gaining traction as stakeholders recognize it as an important area of investment.
Zero-trust principles are being actively used to plan industrial and enterprise infrastructure and workflows. Gartner highlights zero trust as a key focus, projecting that by 2025, approximately 60% of enterprises will opt for zero trust solutions over virtual private networks. Innovations in zero trust architecture are exemplified by practices like “least privilege access” and network segmentation, which hinder cyber threats by isolating them and impending lateral movement. ZTA empowers security strategy for modern enterprises, where perimeter defense alone is inadequate due to cloud computing, mobile devices, and remote workforces.
Key takeaway
ZTA is set to grow as organizations prioritize adaptive cybersecurity. With evolving threats and increased remote work, this technology will likely become a standard, focusing on continuous monitoring, identity-centric security, and dynamic access controls.
Enterprises today need to keep up with the ever-changing business environment, and that means improving their development processes to be more adaptable and responsive. They rely on applications that are flexible, secure, and interconnected. Digital platforms have emerged as a linchpin for businesses, designed to minimize disruptions, seize opportunities, and meet new demands. The shift towards business technology platforms is marked by composable and trust-less architecture, enhanced by modular integration design based on APIs/microservices, delivering a smooth and safe experience for employees, customers, and partners. Solutions tailored to each industry on this platform give an edge over the competition, solving complex issues in each sector.
Top 5 Technologies in Digital Platforms and Operations
Composable application drives business agility by expediting development, deployment, and market entry. They empower citizen development, enabling non-technical users to craft software. Additionally, they enhance developers' focus on user experience through flexible plug-and-play APIs for diverse systems. The digital era, influenced by events like the pandemic and the hyper-connected world, demands swift adaptability.
Key takeaway
Composable strategies incrementally facilitate rapid adaptation, fostering agility and responsiveness across global industries. Survival amid market upheavals demands prioritizing valuable efforts and shedding outdated practices swiftly.
An interconnected enterprise transcends IoT, encompassing all facets of operations. While companies often heavily invest in cloud tech, enterprises operating on data lakehouses offer superior connectivity, speed, and efficiencies, elevating ROI. Analytical tools leverage this for real-time insights, aiding credit assessment and fostering socially conscious partnerships. Centralizing data in lakehouses reduced multiple reduces multiple system transfers, simplifying business demands and enhancing data oversight.
Key takeaway
Connected enterprises are fueled by data lakehouses, enhancing insights, simplifying data management, and supporting innovation. A holistic approach integrating from edge to office drives agility, human-centricity, and innovation for future goals.
Distributed Ledger Technology (DLT) is well-known for enabling cryptocurrencies, like Bitcoin and Ether, to hold vast potential beyond digital currencies. Its applications span capital markets, facilitating native securities issuance, asset tokenization, and the development of Central Bank Digital Currencies (CBDC). DLT’s integration into capital markets marks a natural progression in decentralization, offering efficiency advancements in trading, settlement, and currencies like CBDC or stablecoins.
Key takeaway
Exploring future trends in DLT reveals its impact on governance, transparency, and interoperability. With its evolution, key trends emerge, such as DLT integration in corporate ecosystems, enhancing processes, traceability, transparency, supply chains, and AI integration.
Hyperautomation goes beyond traditional process automation and combines various technologies and tools for automating the process. It not only accelerates processes like asset management, patching, and incident response, saving costs, but also helps reveal hidden improvement opportunities with connected intelligence. As an evolution of AIOps, hyperautomation creates a digital model of IT assets and processes, delivering real-time insights for improved performance and agility.
Key takeaway
IT firms are making substantial investments in hyperautomation to help clients achieve flexibility and aiming to provide end-to-end hyperautomation platforms with advanced capabilities. This consolidates tasks into streamlined, scalable, and adaptable end-to-end super platforms.
ICPs are becoming popular because of the composability of these platforms and the industry trend of product specification. They provide deep industry expertise, pre-configured solutions, and industry-specific data models, with plug-and-play features for cloud adoption. ICPs are quickly gaining adoption as hyperscalers and niche players embrace business-as-a-service models. Early adopters are already reaping the rewards with faster time-to-market, streamlined operations.
Key takeaway
Integrators need to take a closer look at the verticals with deep roots for common, industry-specific challenges and focus their time, energy, and resources on co-creating the industry solution differentiators.
Insightful Reads
Under the Spotlight
Outcreate Your Business
Outcreate with LTM
Outcreate Together
It’s time to Outcreate