With major smartphone brands Apple and Samsung making a big entrance into the mobile payment business, the total revenue of the worldwide mobile payment market in 2015 reached US$450 billion, according to the global market research firm TrendForce. By the end of 2016, the total revenue is estimated to arrive at US$620 billion, representing a massive growth of 37.8% year on year.
Facial recognition technology is expected to enjoy accelerated growth over the next five years as its applications emerge in the government, enterprise, finance, consumer and other market sectors. According to the global market research firm TrendForce, the market value of facial recognition solutions is projected to reach US$230 million in 2015 and will grow to an estimated US$450 million in 2019.
With the arrival of the age of the Internet of Things (IoT), government policies and technologies are being put in place to promote intelligent and connected solutions that are going to transform the manufacturing sector. According to the global market research firm TrendForce, the global market of technologies involved in smart manufacturing/factories is estimated to reach US$250 billion in size by 2018.
One of the most talked-about technologies shown at this year’s Consumer Electronics Show (CES) in Las Vegas is virtual reality (VR). Headset devices such as HTC’s VIVE, Oculus’s Rift, Samsung’s Gear VR 2 and Sony’s PlayStation VR drew huge crowds that wanted to try them out.
Revolutionary advances in information and communication technology (ICT) have led to the explosive growth of mobile devices and brought about the age of the Internet of Things (IoT). These developments also led to a massive overhaul of the manufacturing sector that is based the principles of “Industry 4.0”. As of now, countries have showcased their respective Industry 4.0/digital manufacturing initiatives – the U.S., Germany, Japan and others – are still in the exploration stage in terms of solutions and products offered by their industries. Mass commercialization has yet to take place.