The future is here, and it is exciting – with technology becoming available in every space of business, there has never been a better time to grow a company. However, it is crucial to understand the trends which are shaping the industry and look at what one can do differently from the competition. This article will go through the top five technology trends in 2022. 

1. Blockchain / Web3

Blockchain started 12 years ago for storing value and as a payment method. In 2021, the explosion of the NFT ecosystem made blockchain technology more mainstream. According to Start-Up Nation Finder, cryptocurrency-tagged companies raised over $1 billion in funding for 2021 for the first time ever. With more and more big companies investing in blockchain technology, the blockchain industry is currently set to be worth $67.8 billion by 2026.

2. Digital Health

Before the pandemic, companies within the healthcare industry were growing at a slow pace due to slow-moving processes such as getting approvals. However, Digital Health solutions such as telemedicine, at-home medical devices, and personalized treatments were at an all-time high due to the pandemic. Thus, the process of development was accelerated due to high demand. 

On a global level, telehealth has increased 38 times from pre-COVID-19 levels.  Fortune Business Insight predicts the continuous growth of telehealth to be a $397 billion industry by 2027. Companies such as Aura Air, an air filter company selling air filters that claims to remove 99.9% of Covid-19 particles from the air, won the approval of the health and education ministries and were agreed to be installed in 700 Jerusalem classrooms.

3. Food Tech

As the world moves toward sustainable practices, the harmful effects of livestock systems are an aspect that the food industry is working to reduce. The Kitchen Hub, an Israeli FoodTech incubator, is using its resources to innovate the food industry and reduce the population’s reliance on livestock. In November 2021, the world’s first lab-grown meat factory opened in Israel.

4. Online Shopping  

E-commerce has grown tremendously due to Covid-19, which is why companies should have an online store equipt with strong e-commerce tools. Israeli companies are looking to streamline shipping and online returns to create a better online shopping experience for consumers. This helps to keep costs low as acquiring a new customer is more costly than retaining one. 

Following, immersive e-commerce using AR and VR will see tremendous growth in the next decade. Companies such as ByondXR, an Israeli software company, are creating immersive virtual stores where people can pick out goods. Another company, ZipIt, can turn any store into a personless, virtual store. 

5. Supply Chain Logistics and Delivery Innovations

The following e-commerce is the logistics and delivery industry. Shipment innovations such as “Dark Kitchens” and “Dark Warehouses” help to smoothen last-mile delivery. Dark kitchens are food producers with no physical location. Dark warehouses are spaces used to deliver orders to shorten the distance to consumers. 

Every part of the supply chain logistics was spotlighted when the pandemic came on. Although Israel has strong optimization and planning, there were still some needs that were unmet, which is where companies, such as Freightos, BionicHive, and Trellis come in. Freightos streamlines the shipping industry through an international freight marketplace. BionicHive impacts the shipping process by deploying easily portable and autonomously machines around warehouses. Lastly, Trellis predicts the yield, cost, and quality of products while using AI to accurately move goods.

Each of the 5 tech trends listed above is already changing the way we do business.  Entrepreneurs and startups should look to identify ways to incorporate these innovations into their business to gain a distinct advantage. However, as with many trends, it is best to adopt them slowly and with caution – there are risks involved in each of these. Whether one is an entrepreneur or simply an observer, it will be interesting to follow this development in the year ahead.

References: 

• https://nocamels.com/2021/12/tech-trends-impact-2022/
• https://blog.startupnationcentral.org/general/2021-tech-trends-3-sectors-are-dominating-israels-innovation-ecosystem/
• https://blog.startupnationcentral.org/general/2021-tech-trends-israel-is-winning-the-global-race-for-tech-funding/
• https://blog.startupnationcentral.org/general/2021-tech-trends-israel-becomes-a-unicorn-factory/