TMT Predictions 2024
What can we expect from the generative AI boom, the sustainability imperative, and the rising pressure to monetize across tech, media, and telecom?
The emergence of multiple trends that could help humans think better and faster, grapple with climate change, and convert billions of users to billions of dollars promise to make 2024 a standout year for TMT. Three clear themes highlight this year's report: generative AI, sustainability, and monetization. Predictions explores these themes in depth while covering critical issues affecting tech, media and telecommunications.
Read all the predictions below to learn more about what Deloitte predicts.
Generative AI
Gen AI is coming to enterprise software, but expect competition between vendors who want to charge per user and IT departments that believe generative AI features should be free.
The generative AI chip market is growing fast, and together with other AI-enabling chips could represent half of the value of all semiconductors sold by 2027.
More companies, seeking to avoid the risk of models trained on public data, are expected to train generative AI on their own data to enhance productivity, optimize costs, and unlock complex insights.
2024 is likely to see a balance between regulatory compliance and fostering innovation in generative AI; clear regulation enables enterprises and vendors to proceed with certainty.
Sustainability
In the face of rising trade issues and skyrocketing demand, e-waste recycling and digital supply networks and a holistic approach to supply chain sustainability could help in the medium term.
Modern, new greenfield plants could help improve the industry scorecard, but manufacturing transformation can help both the greenfield plants and existing brownfield plants do better for energy, water, and process gas use.
Telecommunications companies can reduce their carbon footprint by shutting down copper wire and 3G wireless networks, changing their field service fleets to EVs, and switching to 5G radio gear that has a “snooze button.”
Pushed by investors, regulators, and employees, many more companies will likely systematize their ESG tracking and reporting with standardized software tools.
Agriculture technology is designed to let the producers and farmers grow more food using less pesticides, energy, water, and resources, enhancing farm yields.
Media, entertainment, and sports
Interest from fans, broadcasters, and commercial partners is driving rapid growth in the revenues of women’s elite sport. How can organizations continue to accelerate growth?
In 2024, streamers are expected to charge more for premium content, fight churn with longer subscriptions, and satisfy bargain hunters with more pricing tiers.
Shifting demographics, innovative technologies, and the desire for high-performing IP are driving the evolution of storytelling.
More consumers globally are tuning in to audio entertainment formats like podcasts, streaming audio services, audiobooks, and radio.
UGC gaming platforms that incentivize user-generated content are expected to make big payouts to creators in 2024. As this practice grows, however, it could put pressure on top-tier games and services.
Telecom and technology
Smartphones can help you securely log in, tap to pay and enter cars, buildings, and airports. As security concerns grow, the need for authentication will likely consolidate the smartphone’s status as the ultimate goldilocks device: the right size, power, connectivity and trust.
Integrating satellite and terrestrial mobile networks could unlock new revenue for the satellite, semiconductor, and telecom industries.
In some parts of the world, some consumers may have all the bandwidth they need (and then some) in 2024. They are still expected to want ever better internet connections, just not necessarily faster ones.
More data, increased cybersecurity threats, and geopolitical tensions are expected to increase demand for cloud solutions that can operate locally. Meeting this need can protect a company’s reputation, operations, and bottom line.
After a rough 2023, tech companies should expect to see a rebound in venture debt funding.
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