the end of 2021 the tech industry was estimated to be worth approximately $1.6 trillion in the US alone. The US is a major player in the tech industry and accounts for around 35% of the global tech sector.
Technology is a market that is characterised by rapid developments and a continuous cycle of innovation. As such, it can represent an excellent choice for investment if you are prepared to deal with some products that can be volatile in nature. Whilst there may be greater risks for investment in the tech market, there are also opportunities for greater returns on capital than in traditional stocks and shares.
If you are an investor who is looking for new and innovative tech options to invest in, this article will be of significant benefit. Three types of products are discussed in detail that may be of interest to investors who are looking to expand their portfolios into the tech market.
NFTs
NFTs stand for non-fungible tokens, and they are recognised as being one of the fastest-growing assets within the crypto industry. Essentially, they are one-of-a-kind assets that contain a unique identifying code. They can take different forms, but one of the most popular forms of NFTs that are used in trading are NFT artworks. This artwork is unique and can come in a wide range of styles and themes. Companies such as OKX list a range of NFTs that can be bought and sold, along with providing details of which of these stocks are experiencing the most rapid growth. It is worth researching NFTs if you are new to this form of trading to get a better understanding of how they work and what drives their value. They represent a sector of the tech industry that is currently in extreme growth with the value of the NFT market exceeding $10.6 billion in 2021.
Augmented reality market
The augmented reality market is now emerging into several different sectors of industry. VR technology has now become an accepted part of the video games industry with platforms such as Meta using self-contained VR technology in the shape of the Oculus Quest 2 to allow gamers to experience truly immersive gaming worlds. At present, the technology in self-contained VR units cannot match the processing power of conventional gaming platforms such as the current generation of consoles. However, it is expected that as the AR and VR technology becomes more advanced it will prove to be one of the dominant forms of home entertainment and therefore represents an excellent investment opportunity.
Advanced analytics platforms
In 2022, an increasing number of companies in a wide range of sectors are beginning to harness the power of advanced analytics. By using platforms such as Microsoft Power BI and other analytics packages, an organisation can take complex data from a variety of sources and use it to gain key insights into where their future direction should be. Sophisticated technology is used in these business intelligence platforms and there is an increasing usage of machine learning techniques in some advanced analytical products that allow increasingly sophisticated analytics to take place. Investors should research the top machine learning companies that trade on the market and look to buy stocks in firms which are developing advanced software with mass market appeal.