Here’s What’s Deloitte Predicts for the Tech Industry in 2022

2021 has been a year of both growth and recovery for virtually every industry and sector out there, but the tech industry has in particular been in turmoil. Disruptions in supply chains have been particular troublesome because of the fact that this is the sort of thing that could potentially end up making it difficult to transport items from one place to another. That has resulted in a situation wherein tech manufacturers have been facing a massive shortage of chips and other components.

While many are hoping that the chip shortage would end up sorting itself out next year, industry experts are not so optimistic with all things having been considered and taken into account. Both Intel and Nvidia, two of the biggest chip manufacturers in the world, have said that they do not expect chip shortages to become any better in 2022, and Deloitte has concurred with their reports in its Technology, Media & Telecommunications (TMT) 2022 Predictions. These three institutions have analyzed the situation and revealed that we might not see chip shortages getting resolved until 2023.

With all of that having been said and now out of the way, it is important to note that Deloitte has made a number of other predictions regarding what the tech industry might be going through in 2023. The good news that a lot of people might have been hoping for is that not all of their predictions are quite as dire as many have feared. For one thing, game consoles are expected to see a 10% bump in profits as they approach the 50th anniversary of the year that they were invented.

Gaming consoles are expected to generate over $81 billion in revenue in 2022, but the outlook might not be quite as rosy for streaming services. According to Deloitte’s predictions, around 150 million VoD subscriptions might be cancelled in 2022 as working from home winds down and lockdowns end which would make it so that people would be spending a lot less time at home. That might not impact the biggest streaming companies like Netflix or Disney+ quite as much as they would newer entries into the field.

Another important trend that has been discovered has to do with the manner with which we connect to the internet. While 5G has been a hot topic of discussion, and it has certainly seen widespread success with standardized adoption in many parts of the world, it’s actually not the most popular internet innovation right now. That honor belongs to Wi-Fi 6 because even though it is not mentioned as frequently it has managed to outsell 5G devices albeit not by an especially monumental margin.

AI has been another extremely discussed topic, and that might just lead to regulations being put into place in 2022. While not all of these regulations are going to be implemented immediately, they will definitely start to be referred to a great deal more regularly as AI becomes a more commonplace part of people’s lives and as individuals start to realize how much it can affect them if they are not careful.

The gist of all of this is that the tech industry is going to continue to evolve next year. Some parts of it will be doing better than ever, whereas other areas might start to slow down in their growth. Whatever the case may be, the environmental impact of tech will be something that many people start to take into consideration. That might change the approach that a lot of tech firms might be thinking of implementing moving forward because they would not want to get on the wrong side of consumers. They might also become more cognizant of the moral responsibilities that they have in this regard.

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