Technological development has been skyrocketing over recent years, with each year boasting a new advancement. In 2019, tech industry experts have published a New Year's forecast of the development of the technology industry, covering mostly the application and promotion of 5G, Blockchain, and Data Storage. This article explores the predicted outlook of the industry by the experts.

5G technology will continue to advance in 2019, featuring higher speed and less delay. It is predicted that 5G will be utilized more to innovate in the medical, manufacturing and retail sectors. Additionally, the strong and lean capabilities of 5G may be enough to build an entire “smart city,” with 5G automated cars, traffic lights, massive internet, among other exciting things. Only time will tell.

Blockchain technology is beginning to be truly commercialized. Although Bitcoin plummeted last year, it has not had an overarching effect on the further development of blockchain technology, and its downfalls are vastly ignored. Take this analogy for example. In the United States, the E coli infection has long been attributed to a type of lettuce. However, the US Food and Drug Administration was hesitant to eliminate all sources of the lettuce, as it was impossible to determine the precise reason or source of the illness. If blockchain technology is used, it would be easy to avoid public health crises by tracking the entire process of the product supply chain through distributed ledger technology. Therefore, the real commercialization of blockchain technology has just begun.

In 2025, the total amount of data in the world will reach 175ZB, and and nearly half of the data will be stored in the public cloud. While that’s a shocking number, all that data will become worthless if it’s not properly handled and processed. Learning how to master cutting-edge artificial intelligence technology, machine learning, and advanced analysis technology to process data will become an important dividend growth point in the business environment, and will have a major significance on how the industry advances.

In spite of the positive technological outlook for 2019, the economic situation doesn’t look as bright. Interest rates have been higher than they have in years, and many small-to-mid-sized companies have been unable to survive. As a whole, companies will need to figure out a way to allocate proper budget to technological advancements, keeping in mind that costs to the government will be higher this year.