Tech and Media Sectors Forecast $1.1 Trillion Growth

In an insightful projection by Activate Consulting, the tech, internet, and media sectors are set to witness substantial growth over the next four years. According to the report, more than $1.1 trillion is expected to be added to the global economy, with a particular emphasis on significant contributions from both consumer and business sectors. The CEO of Activate Consulting, Michael Wolfe, highlighted that around $400 billion in incremental revenue will stem from consumer tech and media businesses. However, a staggering $700 billion is anticipated from the business-to-business sector, which is expected to grow at a rate three percentage points faster than consumer segments. The report also showcases the pivotal role of generative AI and augmented reality (AR) in driving this growth. Despite this optimism, Wolfe pointed out that while generative AI will lead to increased functionality in products, the hefty costs and complexities of implementation have raised concerns regarding immediate returns on investment. The research methodology employed by Activate involved extensive consumer and B2B research, reflecting a comprehensive understanding of the market landscape. As businesses navigate this evolving environment, they must consider the importance of enhancing customer engagement and adopting new technologies. The report anticipates a notable rise in headset shipments for AR technologies, highlighting consumer appetite. Overall, these projections present a promising outlook for the tech and media sectors, suggesting continuous innovation and adaptation as critical for future success.