Inflation, war, other headwinds are reshaping tech markets

More than two years after the pandemic’s start, the air of uncertainty persists. However, today it is the result of a confluence of several massively disruptive political, economic, and social headwinds—soaring interest rates, looming food and energy shortages, a devastating and needless war, and the changing nature of work, to name a few. According to global technology intelligence firm ABI Research, underpinning it all is a supply chain still reeling and realigning from the depths of the pandemic. Taken together, business leaders today face an even more confounding climate than they did in 2020—and the fallout from these disparate headwinds will likely last for years.

In its new whitepaper, 2022 State of Technology Report: The Future of Technology in a Tumultuous World, ABI Research analysts have compiled their observations, analyses, and recommendations for critical technologies and end markets.

These findings include:

• A growing reliance on 5G and cellular in enterprise environments, driven by rising energy costs.
• A flattening of the automotive market with a consolidated supply chain and a reduced number of vehicle options.
• The persistence of the global chip shortage and its ongoing impact on digital security, payment technologies, semiconductors, and other hardware.
• How manufacturing shutdowns in China are curbing innovation in smart home devices and how smart home players must adjust.

Stuart Carlaw, Chief Research Officer at ABI Research, concludes, “We should heed one of the most important business lessons learned during 2020—that technology will not be a casualty of uncertainty, but rather a tool to overcome it. Companies that embrace, invest in, and deploy technology wisely will undoubtedly emerge stronger and better prepared to handle the next spate of challenges on the horizon, no matter the weather.”

CT Bureau