Emerging and Next Generation Technologies Market Research Reports

Harnessing the Future: Deep Dive into Emerging and Next-Generation Technologies

Industry Overview

In 2023 and 2024, the sector of emerging and next-generation technologies experienced substantial development and transformation, which was facilitated by advancements in biotechnology, blockchain, quantum computing, artificial intelligence (AI), and 5G. The global AI market was valued at $142.3 billion in 2023 and is expected to reach $190.6 billion in 2024, equivalent to a compound annual growth rate (CAGR) of 33.2%. AI has been integrated into the operations of more than 60% of significant enterprises, resulting in increased efficiency and innovation. In 2023, AI entrepreneurs received more than $75 billion in venture capital funding, and substantial investments are expected to persist into 2024. 

The quantum computing market was estimated to be worth $1.2 billion in 2023 and is anticipated to increase to $1.8 billion in 2024, with a compound annual growth rate (CAGR) of 50%. Advancements in quantum supremacy have been achieved by major technology companies such as IBM, Google, and Microsoft, which have expanded the computational capabilities relative to classical computers. Pilot projects are currently occurring in a variety of industries, and quantum computing is making substantial progress in the fields of drug discovery, cryptography, and financial modeling. The market for blockchain technology was valued at $10.02 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 40.4% to reach $14.34 billion by 2024. 

Approximately 80% of financial institutions are investigating blockchain technology to facilitate secure and transparent transactions. Global 5G subscriptions had reached 1.5 billion by the conclusion of 2023, with over 150 countries having implemented 5G networks. The 5G infrastructure market was estimated to be worth $9.2 billion in 2023 and is anticipated to increase to $13.3 billion in 2024. In 2023, the biotechnology sector was valued at $610.8 billion and is expected to reach $734.8 billion by 2024, with a compound annual growth rate (CAGR) of 20.3%. The sector is being propelled forward by substantial investments in research and development, particularly in personalized medicine and gene editing (CRISPR).

Details for top 10 countries

United States

The projected compound annual growth rate (CAGR) for the emerging and next-generation technologies sector in the United States is approximately 25%, with a value of approximately $320 billion in 2023 and a projected value of $400 billion in 2024. The United States is a global leader in biotechnology, quantum computation, and AI, which has resulted in substantial investments and advancements in these fields. The healthcare, finance, defense, and automotive industries are among the most significant sectors that employ these technologies. For example, the healthcare sector heavily depends on AI for diagnostics and personalized medication, while the finance sector employs blockchain to facilitate secure transactions. Approximately 35% of the global market share in emerging technologies is held by the United States. The nation remains the leader in R&D expenditure, with tech titans such as IBM, Microsoft, and Google making substantial investments in AI and quantum computing. The United States allocated more than $70 billion to AI in 2023, and it is anticipated that this figure will increase to $85 billion in 2024. The sector's expansion has been facilitated by the federal government's backing of initiatives such as the National AI Initiative and financing for quantum research. Furthermore, the adoption of 5G technology has been expedited, with nearly 50% of the population utilizing 5G networks by the conclusion of 2023, and this figure is expected to rise to 65% by 2024. The sector is propelled forward by the robust innovation ecosystem of the United States, which prestigious universities and research institutions bolster.

China

By 2024, the sector of emerging and next-generation technologies in China is anticipated to reach a value of $350 billion, with a compound annual growth rate (CAGR) of 28%. In 2023, its value was approximately $280 billion. China is a global leader in the disciplines of AI, 5G, and biotechnology, having made substantial investments and made significant progress in these areas. Manufacturing, telecommunications, healthcare, and financial services are among the sectors that employ these technologies. By 2023, China's 5G deployment was so aggressive that it had covered more than 80% of urban areas, and it is anticipated that it will be nationwide by 2024. Approximately 30% of the global market share in emerging technologies is held by the country. Huawei and Tencent, two Chinese companies, are at the forefront of AI and 5G innovations. In 2023, Huawei allocated more than $20 billion to research and development. The healthcare sector in China is rapidly incorporating AI for patient care and diagnostics, while the financial sector is integrating blockchain for secure transactions. The sector's expansion has been further bolstered by the Chinese government's backing of tech firms through the "Made in China 2025" initiative and substantial funding. China allocated more than $60 billion to AI in 2023, with an anticipated increase to $75 billion in 2024. The nation's dedication to becoming a global leader in quantum computation is evident in its substantial advancements and partnerships with global technology companies.

Japan

The sector of emerging and next-generation technologies in Japan was valued at approximately $100 billion in 2023 and is expected to reach $125 billion by 2024, with a compound annual growth rate (CAGR) of 20%. Japan is a leader in the development of robotics, AI, and quantum computation, which is helping to drive innovation in a variety of industries. The automotive, healthcare, and manufacturing industries are among the most significant sectors that employ these technologies. Japan accounts for approximately 10% of the global market share in emerging technologies. The nation's manufacturing sector is at the vanguard of the adoption of AI and robotics to enhance efficiency and automation. Japan invested more than $30 billion in AI in 2023, and it is anticipated that this figure will increase to $38 billion in 2024. In Japan, the healthcare sector is also incorporating AI for patient care and diagnostics, while the automotive industry is utilizing AI and quantum computation for advanced manufacturing processes and autonomous vehicles. Toyota and SoftBank, Japanese technology companies, are pioneers in research and development, with substantial investments in artificial intelligence (AI) and robotics. The development of the sector has been facilitated by the government's support of initiatives such as the "Society 5.0" vision, which aims to integrate cyberspace and physical space. Significant investments in infrastructure and coverage are anticipated to accelerate the adoption of 5G technology by 2024.

Germany

The sector of emerging and next-generation technologies in Germany was valued at approximately $90 billion in 2023 and is anticipated to increase to $110 billion by 2024, with a compound annual growth rate (CAGR) of 22%. Germany is a pioneer in the fields of industrial automation, robotics, and artificial intelligence, which has resulted in substantial progress in these fields. The manufacturing, automotive, and healthcare industries are among the most significant sectors that employ these technologies. Germany accounts for approximately 8% of the global market share in emerging technologies. For advanced manufacturing and efficiency, the nation's manufacturing sector, which is distinguished by its Industry 4.0 initiative, heavily depends on AI and robotics. Germany invested more than $25 billion in AI in 2023, and it is anticipated that this figure will increase to $32 billion in 2024. AI is also being integrated into the automotive industry in Germany to develop advanced driver-assistance systems and autonomous vehicles. German technology companies, such as Siemens and Bosch, are at the forefront of research and development, with significant investments in industrial automation and artificial intelligence. The sector's expansion has been further facilitated by the government's backing of initiatives such as the "High-Tech Strategy 2025" and funding for technology firms. The adoption of 5G technology is advancing, and it is anticipated that significant investments in infrastructure and coverage will expand swiftly by 2024.

South Korea

By 2024, the sector of emerging and next-generation technologies in South Korea is expected to reach $90 billion, with a compound annual growth rate (CAGR) of 25%. In 2023, its value was approximately $70 billion. South Korea is a global leader in the fields of 5G technology, AI, and biotechnology, and it is responsible for significant advancements in these fields. The telecommunications, healthcare, and manufacturing industries are among the most significant sectors that employ these technologies. Approximately 7% of the global market share in emerging technologies is held by South Korea. The country's 5G implementation has been aggressive, resulting in the coverage of over 90% of urban areas by 2023. Nationwide coverage is anticipated by 2024. South Korea invested more than $20 billion in AI in 2023, and it is anticipated that this figure will increase to $25 billion in 2024. The manufacturing sector is integrating AI and robotics for advanced manufacturing processes, while the healthcare sector in South Korea is rapidly adopting AI for patient care and diagnostics. Samsung and LG, two South Korean technology companies, are making significant investments in AI and 5G technology, thereby establishing themselves as leaders in R&D. The sector's expansion has been further facilitated by the government's backing of initiatives such as the "Fourth Industrial Revolution" and funding for technology firms. The adoption of biotechnology is also accelerating, with substantial investments in infrastructure and research and development anticipated to expand swiftly by 2024.

United Kingdom

The valuation of the United Kingdom's emerging and next-generation technologies sector was approximately $60 billion in 2023, and it is anticipated to reach $75 billion by 2024, with a compound annual growth rate (CAGR) of 22%. The United Kingdom is a pioneer in the fields of biotechnology, fintech, and AI, which has resulted in substantial progress in these fields. The healthcare, finance, and telecommunications industries are among the most significant sectors that employ these technologies. Approximately 6% of the global market share in emerging technologies is held by the United Kingdom. The nation's healthcare sector significantly depends on AI for diagnostics and personalized medicine, while the finance sector employs blockchain to facilitate secure transactions. The United Kingdom invested more than $18 billion in AI in 2023, and it is anticipated that this figure will increase to $23 billion in 2024. The sector's expansion has been facilitated by the government's backing of initiatives such as the "AI Sector Deal" and substantial funding for technology firms. Significant investments in infrastructure and coverage are anticipated to accelerate the adoption of 5G technology by 2024. The sector is being propelled forward by the UK's robust innovation ecosystem, which renowned universities and research institutions bolster. The biotechnology sector is also experiencing growth, with substantial investments in personalized medicine and gene modification (CRISPR).

France

The sector of emerging and next-generation technologies in France was valued at approximately $50 billion in 2023 and is anticipated to increase to $65 billion by 2024, with a compound annual growth rate (CAGR) of 23%. France is a leader in the fields of biotechnology, robotics, and artificial intelligence, which are fostering innovation in a variety of industries. The healthcare, manufacturing, and automotive industries are among the most significant sectors that employ these technologies. Approximately 5% of the global market share in emerging technologies is held by France. The healthcare sector in France is rapidly integrating AI and robotics for advanced manufacturing processes, while the manufacturing sector is rapidly implementing AI for diagnostics and patient care. France invested more than $15 billion in AI in 2023, and it is anticipated that this figure will increase to $20 billion in 2024. Dassault and Thales, French technology companies, are at the forefront of research and development, with significant investments in artificial intelligence (AI) and robotics. The sector's expansion has been further facilitated by the government's backing of initiatives such as "AI for Humanity" and funding for tech businesses. The adoption of 5G technology is advancing, and it is anticipated that significant investments in infrastructure and coverage will expand swiftly by 2024. The biotechnology sector in France is also experiencing growth, with substantial investments in personalized medicine and gene modification (CRISPR).

Canada

The sector of emerging and next-generation technologies in Canada was valued at approximately $40 billion in 2023 and is expected to reach $52 billion by 2024, with a compound annual growth rate (CAGR) of 24%. Canada is a pioneer in the fields of biotechnology, fintech, and AI, and it has made substantial contributions to these fields. The healthcare, finance, and telecommunications industries are among the most significant sectors that employ these technologies. Approximately 4% of the global market share in emerging technologies is held by Canada. The nation's healthcare sector significantly depends on AI for diagnostics and personalized medicine, while the finance sector employs blockchain to facilitate secure transactions. Canada invested more than $12 billion in AI in 2023, and it is anticipated that this figure will increase to $15 billion in 2024. The sector's expansion has been promoted by the government's investment in initiatives such as the "Pan-Canadian AI Strategy" and substantial funding for technology ventures. Significant investments in infrastructure and coverage are anticipated to accelerate the adoption of 5G technology by 2024. The sector is propelled forward by Canada's robust innovation ecology, which prestigious universities and research institutions bolster. The biotechnology sector is also experiencing growth, with substantial investments in personalized medicine and gene modification (CRISPR).

Israel

The sector of emerging and next-generation technologies in Israel was valued at approximately $30 billion in 2023 and is anticipated to increase to $40 billion by 2024, with a compound annual growth rate (CAGR) of 27%. Israel is a pioneer in the fields of biotechnology, AI, and cybersecurity, and it has made substantial contributions to these fields. The defense, healthcare, and finance industries are among the primary sectors that employ these technologies. Approximately 3% of the global market share in emerging technologies is held by Israel. The healthcare sector is swiftly incorporating AI into patient care and diagnostics, while the defense sector in the country heavily relies on AI and cybersecurity for advanced security solutions. Israel invested more than $10 billion in AI in 2023, and it is anticipated that this figure will increase to $13 billion in 2024. Check Point and Mobileye, Israeli technology companies, are pioneers in research and development, with significant investments in cybersecurity and artificial intelligence. The sector's expansion has been further facilitated by the government's backing of initiatives such as the "Israel Innovation Authority" and funding for technology firms. The adoption of 5G technology is advancing, and it is anticipated that significant investments in infrastructure and coverage will expand swiftly by 2024. Israel's biotechnology sector is also flourishing, with substantial investments in personalized medicine and gene modification (CRISPR).

Singapore

The sector of emerging and next-generation technologies in Singapore was estimated to be worth $25 billion in 2023 and is expected to increase to $32 billion by 2024, with a compound annual growth rate (CAGR) of 28%. Singapore is a pioneer in the fields of biotechnology, AI, and fintech, and it has made substantial contributions to these fields. The finance, healthcare, and manufacturing industries are among the most significant sectors that employ these technologies. Approximately 2% of the global market share in emerging technologies is held by Singapore. The nation's finance sector heavily depends on fintech solutions to ensure secure transactions, while the healthcare sector is rapidly integrating AI into patient care and diagnostics. Singapore allocated more than $8 billion to AI in 2023, with projections that the figure will exceed $10 billion by 2024. The sector's expansion has been facilitated by the government's backing of initiatives such as the "Smart Nation" and its substantial investment in technology businesses. Significant investments in infrastructure and coverage are anticipated to accelerate the adoption of 5G technology by 2024. The sector is further propelled by Singapore's robust innovation ecosystem, which prestigious universities and research institutions bolster. The biotechnology sector is also experiencing growth, with substantial investments in personalized medicine and gene modification (CRISPR).

PESTEL Analysis

Political

The regulatory environment, funding, and international collaborations of the emerging and next-generation technologies sector are significantly influenced by the political landscape. Government policies and regulations significantly influence the promotion of innovation and the maintenance of ethical standards. For instance, the development and deployment of AI technologies have been influenced by the imposition of rigorous data privacy standards by initiatives such as the European Union's General Data Protection Regulation (GDPR). Additionally, governments worldwide are making substantial investments in technology research and development (R&D). In the United States, federal agencies such as the National Science Foundation (NSF) and DARPA (Defense Advanced Research Projects Agency) allocate substantial budgets to the advancement of biotechnology, quantum computation, and AI. Additionally, international relations and trade policies are essential. Technology supply chains, particularly in the semiconductor and telecommunications sectors, have been significantly affected by the US-China trade tensions. The rate of development and market competition can be influenced by export controls and sanctions, which can restrict access to critical components and technologies. 

Economical

The economic environment fundamentally influences growth in the emerging and next-generation technologies sector. Macroeconomic factors, including inflation rates, GDP growth, and fiscal policies, directly influence investment levels and market demand. Despite the fact that global economic growth in 2023 and 2024 was inconsistent across regions, it has generally facilitated an increase in investments in technological innovation. Capital inflows from both public and private entities have been substantial in the sector as a result of the transformative impact of technologies such as AI, quantum computing, and biotechnology and the high potential for returns. Significant venture capital and private equity funding is directed toward startups and established firms in the sector, as indicated by investment trends. For example, there was a $100 billion global investment in AI enterprises through venture capital in 2023, which is a testament to the confidence of investors in the sector's potential. Governments are also significant contributors, as evidenced by the US CHIPS Act, which allocated $52 billion for semiconductor research and manufacturing, directly influencing the technology sector. The long-term economic benefits of technological advancements are illustrated by the anticipated $1.3 trillion increase in global GDP by 2030 as a result of the proliferation of 5G technology.  

Social

Social factors significantly influence the development and adoption of emerging and next-generation technologies. Public perception, societal requirements, and cultural attitudes toward technology influence the acceptance and integration of innovations into daily life. In recent years, there has been an increasing societal demand for technologies that address environmental challenges, improve healthcare, and enhance quality of life. For example, healthcare solutions that AI drives are gaining acceptance due to their potential to enhance diagnostics, personalize treatments, and more effectively manage healthcare costs. The digital divide continues to be a significant social concern. The distribution of access to emerging technologies is unequal, with substantial disparities between urban and rural areas, as well as between developed and developing nations. It is imperative to make efforts to address this disparity, including the expansion of broadband access and the implementation of digital literacy programs, in order to guarantee that all individuals receive equitable benefits from technological advancements. In order to prepare the workforce for new forms of employment, it is essential to prioritize social inclusion, as technologies such as AI and robotics have the potential to displace occupations. This necessitates the implementation of comprehensive retraining and education programs. Also of paramount importance are ethical considerations and cultural acceptance. 

Technological

The competitive landscape is shaped by innovation, which is driven by technological factors at the root of the emerging and next-generation technologies sector. Industries are being transformed, and new opportunities are being created as a result of the rapid advancements in artificial intelligence (AI), quantum computation, biotechnology, and 5G. AI continues to make significant strides in the fields of natural language processing, computer vision, and machine learning in 2023 and 2024. AI applications are becoming more prevalent in sectors such as finance, healthcare, and retail, as companies such as IBM, Microsoft, and Google are making substantial investments in AI research and development. Quantum computation is another field that is undergoing significant advancements. IBM and Google are making significant progress toward quantum supremacy, a state in which quantum computers are capable of resolving problems that are beyond the capabilities of classical computers. This technology has the potential to transform disciplines such as cryptography, material science, and complex system simulations. It is anticipated that quantum computing will generate $1 billion in annual investments by 2024, which is indicative of its increasing significance. 

Environmental

The emerging and next-generation technologies sector is being increasingly influenced by environmental factors, with a strong emphasis on sustainability and the reduction of environmental impact. The demand for sustainable practices and green technologies is being driven by environmental degradation, resource depletion, and climate change. Companies and governments are making substantial investments in technologies that facilitate the transition to a circular economy, reduce carbon footprints, and promote energy efficiency. Renewable energy technologies, including hydroelectric, solar, and wind power, are at the vanguard of this transition. Global investments in renewable energy are anticipated to surpass $300 billion annually in 2023 and 2024 as a result of the necessity to decrease dependence on fossil fuels and mitigate the effects of climate change. The integration of renewable energy into the grid and the maintenance of a consistent energy supply are contingent upon technological advancements in energy storage, including lithium-ion batteries and emergent solid-state batteries. Another significant area of focus is electric vehicles (EVs). It is anticipated that the electric vehicle (EV) market will expand swiftly, with global sales expected to surpass 10 million units by 2024. This growth is being driven by advancements in battery technology, charging infrastructure, and autonomous driving, which are being bolstered by government incentives and regulations that prioritize sustainable transportation. 

Legal

The emerging and next-generation technologies sector is significantly influenced by legal factors, which affect a wide range of aspects, including regulatory compliance and intellectual property rights. The legal environment is subject to constant change and complexity, which is indicative of the rapid tempo of technological advancements and the necessity of confronting new risks and challenges. In this sector, intellectual property (IP) rights are essential, as they provide legal protection for innovations and encourage investment in research and development. Copyrights, trademarks, and patents guarantee that inventors and organizations can safeguard their technological innovations from illicit use and infringement. The sector's innovation intensity is anticipated to be reflected in the continued increase in the number of patent applications in disciplines such as AI, biotechnology, and quantum computing in 2023 and 2024. Nevertheless, the global IP landscape can be difficult to navigate due to the diverse laws and enforcement mechanisms that exist in different jurisdictions. Another substantial legal consideration is regulatory compliance. Governments and international organizations are establishing frameworks to guarantee the responsible development and deployment of emergent technologies. For instance, the General Data Protection Regulation (GDPR) of the European Union establishes rigorous standards for data privacy and security, which affect organizations that manage personal data. 

Major companies and their details

Google (Alphabet Inc.)

Alphabet Inc., the parent company of Google, reported revenues of approximately $282 billion in 2023. A substantial portion of this revenue was attributed to its next-generation and emergent technologies. The company's R&D expenditure was approximately $40 billion in 2023 and is anticipated to reach $45 billion in 2024. Google's AI segment is a significant growth driver, and the company is significantly invested in cloud computing, quantum computing, and artificial intelligence (AI). In 2023, the Google Cloud segment, which encompasses Google AI, generated approximately $26 billion in revenue, with a projected increase to $32 billion in 2024. Digital advertising, cloud computing, and AI comprise Alphabet's principal business segments. Google Cloud and the AI division are the primary locations for emerging technologies, which encompass a variety of AI-driven services and innovations such as TensorFlow and DeepMind. Google holds approximately 15% of the global market share in the emerging and next-generation technologies sector. The company's position as a prominent player in this sector is largely due to its dominance in AI, as well as its significant advancements in quantum computing and robust cloud infrastructure. Breakthroughs in quantum supremacy have been achieved as a result of Google's investment in quantum computation, particularly through its Quantum AI lab.

Microsoft

In 2023, Microsoft reported revenues of approximately $230 billion, with its emerging and next-generation technologies playing a substantial role in this figure. In 2023, the company's R&D expenditure was approximately $28 billion, and it is anticipated that this figure will rise to $32 billion in 2024. Azure is a critical segment that is driving growth in AI, cloud computing, and quantum computing, in which Microsoft is profoundly invested. In 2023, the Intelligent Cloud segment, which encompasses Azure and other cloud services, generated approximately $75 billion in revenue, with an anticipated increase to $85 billion in 2024. Microsoft's primary business segments consist of cognitive cloud, productivity and business processes, and more personal computing. The Intelligent Cloud segment is the primary location for emerging technologies, which include AI, machine learning, and quantum computation. Microsoft is estimated to possess 12% of the global market share in the emerging and next-generation technologies sector. It is a significant participant due to the company's extensive AI capabilities, which are exemplified by Azure AI and its Quantum Network's advancements in quantum computing. Microsoft's strategic acquisitions, such as Nuance Communications for AI healthcare solutions, have further solidified its position in the emerging tech landscape.

IBM

In 2023, IBM reported revenues of approximately $60 billion, with its emerging and next-generation technologies being instrumental in this figure. In 2023, the company's R&D expenditure was approximately $6 billion, and it is anticipated that this figure will rise to $6.5 billion in 2024. IBM's AI segment is a significant contributor to the company's development, and it is a pioneer in blockchain, quantum computing, and AI. In 2023, the IBM Cloud and Cognitive Software segment, which encompasses cloud services and AI, generated approximately $23 billion in revenue. It is anticipated that this figure will increase to $25 billion in 2024. IBM's primary business segments consist of systems, global business services, and cloud and cognitive software. The Cloud and Cognitive Software segment is the primary location for emerging technologies, which include AI, machine learning, and quantum computing. IBM is estimated to possess 10% of the global market share in the emerging and next-generation technologies sector. IBM's priority in quantum computing, particularly through IBM Q, and its extensive AI capabilities with Watson establish it as a significant player. IBM's market position is further strengthened by its strategic emphasis on hybrid cloud and AI, as well as its advancements in blockchain technology. The company's dedication to the advancement of quantum computing, as evidenced by its roadmap to construct a 1,000-qubit quantum computer by 2023, serves as a testament to its leadership in this field.

Huawei

In 2023, Huawei reported revenues of approximately $100 billion, with its emerging and next-generation technologies playing a substantial role in this figure. The company's research and development expenditure was approximately $22 billion in 2023 and is expected to rise to $24 billion in 2024. Huawei's telecommunications equipment segment is a significant growth driver, and the company is significantly invested in 5G technology, AI, and cloud computing. In 2023, the Carrier Business segment, which encompasses 5G infrastructure and services, generated approximately $45 billion in revenue, with an anticipated increase to $50 billion in 2024. The carrier business, consumer business, and enterprise business are Huawei's primary business segments. The Carrier Business segment is the primary location for emerging technologies, which include 5G, AI, and cloud services. In the emerging and next-generation technologies sector, Huawei is estimated to possess 10% of the global market share. The company is a prominent participant due to its leadership in 5G technology, as well as its significant advancements in AI and cloud computing. Huawei's market position is strengthened by its strategic investments in AI research, including Huawei Cloud AI and its robust 5G infrastructure.

NVIDIA

In 2023, NVIDIA reported revenues of approximately $27 billion, with its emerging and next-generation technologies being instrumental in this figure. In 2023, the company's R&D expenditure was approximately $7 billion, and it is anticipated that this figure will rise to $8 billion in 2024. The AI segment is a significant contributor to NVIDIA's growth, and the company is a leader in high-performance computing (HPC) and graphics processing units (GPUs). In 2023, the Compute & Networking segment, which encompasses AI and HPC solutions, generated approximately $10 billion in revenue. It is anticipated that this figure will increase to $12 billion in 2024. The primary business segments of NVIDIA are automotive, professional visualization, data center, and gaming. The Data Center segment is the primary location for emerging technologies, which include AI, machine learning, and HPC. In the emerging and next-generation technologies sector, NVIDIA is estimated to possess 8% of the global market share. The company is a significant participant due to its leadership in AI, which is exemplified by its GPUs and AI computing platform. NVIDIA's strategic acquisitions, such as Mellanox Technologies for HPC solutions, have further solidified its position in the emerging tech landscape.

Recent developments

• Vizion and TransImpact, a U.S.-based company, announced a strategic partnership in July 2023 to improve the visibility and optimization of the supply chain for freight-moving organizations. The collaboration endeavors to enhance operational efficiency, reduce costs, and establish new standards in supply chain management by integrating Vizion's advanced logistics technology with TransImpact's cost management expertise.
• Shippo announced the launch of the Addresses API in February 2024. This API enables businesses to parse, validate, and maintain customer shipping addresses, thereby reducing deliverability issues and improving the overall shopping experience. The objective of this new tool is to enhance operational efficiency and eradicate costly shipping errors by validating addresses, parsing address text, and storing customer data, thereby guaranteeing timely and precise deliveries.

Conclusion
In 2023 and 2024, the emerging and next-generation technologies sector has exhibited remarkable growth and innovation, as evidenced by significant investments and advancements in a variety of industries. By the conclusion of 2024, the global market for these technologies is anticipated to exceed $1.5 trillion, with a compound annual growth rate (CAGR) of approximately 25%. In 2023, the market was valued at approximately $1.2 trillion. The continued leadership of key players such as the United States, China, and Japan substantially influences the sector's expansion. The United States, which is a leader in biotechnology, quantum computation, and AI, accounted for approximately 35% of the global market. With its aggressive 5G rollout and advancements in AI and quantum computation, China currently controls approximately 30% of the global market. 

In 2023, the nation's investments in AI increased to more than $60 billion, and it is anticipated that they will increase to $75 billion in 2024. Japan, which is renowned for its proficiency in industrial automation and robotics, maintains approximately 10% of the market and has made substantial investments in artificial intelligence (AI) and quantum computation. The healthcare sector continues to be a significant beneficiary of these technologies, as it utilizes AI for personalized medicine and diagnostics. The automotive industry is investigating AI and quantum computation for autonomous vehicles, while the finance sector is increasingly utilizing blockchain for secure transactions. Another critical trend is the rapid adoption of 5G technology, which has resulted in substantial infrastructure investments. This trend has the potential to improve connectivity and enable the development of new applications.