Investment bank, Citi has released a report detailing the 10 technologies that will mould and shape the future. According to their analysts, these are the 10 technologies, some new and some old, that are going to make a significant impact on the development of our society.

Technology 1: 3D printing

You can do anything with a 3D printer, print a car, print a robot – you can even print your clothes. Today the 3D printing industry has a market value of $3,5 billion (R31 billion), while research shows that it could grow to $6,5 billion (R58 billion) by 2019.

Technology 2: The E-cigarette

E-cigarettes allow smokers to smoke in places they would normally be barred from. They are battery powered and are less toxic than regular cigarettes, because they deliver a nicotine load, without the tar. And the most useful thing about them is they can be re-used, but disposables are also available. According to the investment bank the market share for e-cigarettes is still small, but will continue to see nearly 50% annual growth over the next few years.

Technology 3: Genomics and personalised medicine

Hereditary disease sucks, purely because we never really know what dread disease we’re predisposed to until we get it, by which time our lives are in danger. Predictions suggest sales in the field of genomics could increase to $2,1 billion (R18 billion) by 2015. The main areas of testing are cancer, pre-natal testing and “companion diagnositics.”

Technology 4: Mobile payments

Making or receiving payments on your phone is gaining market share rapidly as people wean themselves off cash in greater numbers. The technology is huge in Japan, with 55% of the population keen on mobile payments over cash. With the estimated six billion phone subscriptions globally, Canadian IE Market Research Corporation predicts $1 trillion (R9 trillion) of transaction value by 2016.

Technology 5: Energy exploration technology

The world’s supply of fossil fuels is secure for the next few decades thanks to hydraulic fracturing, horizontal drilling and subsea exploration. Fracking should see rapid global expansion, while the equipment used for subsea exploration is set to blossom into a $100 billion (R904 billion) p/a market in ten years.

Technology 6: No more oil, bring on the gas

The conversion of oil to gas has seen widespread adoption in the Middle East, with companies overseeing taxi fleets converting from gasoline to compressed natural gas (CNG). It is forecast that global CNG is likely to grow from its current 0,9% global market penetration to 1,1% by 2020.

Technology 7: Video streaming

Technology that allows you to stream video straight from the web directly to your flat screen is the now, and the future of home entertainment. Video streaming company Roku has sold 5 million boxes that provide this service to users, while Netfix, Hulu, Amazon and Google have started creating their own TV shows and movies. Since 2010, TV ratings have declined but subscriptions on Netfix have grown 70% in the same period.

Technology 8: Software-as-a-Service (SaaS)

Basically, SaaS is internet based software delivery. Software that you would normally have to download for a fee can now be downloaded from Google Apps, Microsoft 365 and Amazon. The global SaaS market saw a growth of 26% in 2012, and is now valued at $18 billion (R162 billion), a number which is set to increase over time.

Technology 9: Sotware Defined Networking (SDN)

According to Citi investment bank:

Instead of having intelligence distributed across the network in separate boxes, SDN centralizes the Control plane in an overriding software layer which disseminates instructions to each router or switch.

The SDN market is currently sitting at just under $360 million (R3,2 billion) for this year, but is expected to grow to $3,7 billion (R27 billion) by 2016.

Technology 10: Everything solar

With an increase in demand and strong supply reaction, solar panels have become cheaper in a short period of time, resulting in price parity. Estimates suggest the industry will receive $1,3 trillion in new investments between 2012 and 2035. This shows 13% in total global investments in power generation.

Its nature means that the technology keeps getting cheaper, while alternatives gradually become more expensive, and so the ‘problem’ only becomes exacerbated.

[Source: Business Insider]