Deep Tech Market: Introduction
- Deep technology (Deep Tech), also known as the hard tech, is based on scientific advances or engineering innovation and discoveries. Its basics focus is to pioneer new solutions that solve major issues, including climate change, chronic disease, food production, and clean energy.
- Business models of companies engaged in Deep Tech are based on high-tech innovation using the latest technological advances in multiple areas. Deep Tech creates a platform technology that jumpstarts new industries and solves current bottlenecks in traditional sectors.
- Deep Tech has the power to bring changes in technological fields. It connects cutting-edge technologies to build tangible societal shifts and never has it been more relevant.
- Deep Tech uses a built-in inventory control module that provides real-time information on terminals as well as the hardware configuration and any other business software such as anti-virus systems to streamline terminals updates.
- Deep Tech is being majorly adopted in life science industries to improve AI diagnosis. Increasing demand for Deep Tech is expected to boost the market during the forecast period.
Deep Tech Market: Dynamics
Deep Tech Market: Key Drivers
- Companies engaged in Deep Tech are providing solutions to the energy power sector to upgrade the current technology by using avant-garde technology in order to examine hydropower generation and to increase the efficiency of solar and wind energy
- Deep Tech is also employed in the food and agriculture sectors. It provides solutions that can prompt a shift from traditional farming practice of the industrial period toward more sustainable methods of production. Various technologies are utilized like blockchain, big data, and biotechnology to improve interconnected farming systems with highly exact predictive capabilities that enable farmers to harvest and grow their crops for optimal efficiency, yield, and resilience.
- Lack of awareness about the benefits of Deep Tech services and process automation tools among small & medium enterprises is also expected to hamper the market
Impact of COVID-19 on Deep Tech Market
- Most companies are adopting the work from home module during the pandemic period. Companies are decreasing their investment in new technologies and services to manage their profitability. Most small businesses closed their business process due to lack of funds to sustain in the market.
- Demand for Deep Tech is decreasing during the COVID-19 lockdown situation; however, it is expected to increase after the pandemic situation due to an increase in dependency of commercial sectors and services
North America to Hold Major Share of Global Deep Tech Market
- In terms of region, the global deep tech market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global Deep Tech market in 2020. The U.S. is a key market in the adoption of new technologies. Strong financial position enables the country to invest heavily in the adoption of leading tools and technologies to ensure business operations.
Key Players Operating in Global Deep Tech Market
- Signal AI
Signal AI was incorporated in 2013 and is headquartered in London, U.K. The company provides a platform for market intelligence and media monitoring. The platforms offer real-time alerts, AI-powered search, sentiment analysis, and insights dashboards. The company aims to provide services for augmented reality across strategic communication and PR, supply chain risk, ESG performance, and other use cases.
- Medicus AI
.Medicus AI was incorporated in 2015 and is headquartered in Wien, Austria. The company develops an artificial intelligence-based platform that explains and takes medical reports and blood tests. The company also provides actionable recommendations, personalized health tips and lifestyle coaching.
Other key players operating in the deep tech market include loop, Blippar Ltd., Tractable Ltd., Disperse, Scoutbee GmbH, Nuritas, Merantix AG, Cambridge Quantum Computing, A notherBrain, Arago and Cobiro.
Deep Tech Market: Research Scope
Deep Tech Market, by Technologies
- Big Data
- Artificial Intelligence and Machine Learning
- Language Processing
- Vision and speech algorithm
- Quantum Computing
- Photonics and Electronics
Deep Tech Market, by Enterprise Size
- Large Enterprises
Deep Tech Market, by End-user
- IT & Telecommunication
Deep Tech Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.