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‘Digital economy to hit $23 trillion by 2025’


Image depicting Digital economy

According to a recent report, all things will be able to sense and be connected, bringing us all into a world where everything is intelligent by the year 2025.

The Global Industry Vision (GIV) 2025 report revealed that the number of personal smart devices will reach 40 billion and the total number of connections around the world will reach 100 billion, creating a digital economy worth of $23 trillion.

According to Director of the Board and Chief Strategy Marketing Officer, Huawei, William Xu, this is the first time that Huawei has released the GIV report, ‘‘based on data and predictions about the future, we aim to unfold the industry blueprint of an intelligent world driven by information and communications technology (ICT).

It is our goal to build the foundations that will enable the diverse ICT industry ecosystem to truly transition into the intelligent world, and team with our global partners to build this fully connected, intelligent world.”

Depicting the report, Xu analysed it into three visions: All things sensing, more and better connections, bringing everything to the intelligent world, +Intelligence: Fostering new business species and driving leapfrog development for industries; Mass innovation: tapping into the opportunities of a digital economy valued at $23 trillion.

Highlighting the first vision, Xu noted that by 2025, the intelligent world will truly have arrived, once all things can sense and are connected , ‘‘by 2025, there will be 40 billion personal smart devices and 100 billion connections around the world as the industrial Internet will be the major source of these 100 billion connections.’’

Also, Cloud Virtual Reality (VR) market will reach $292 billion by 2025, according to him, massive amount of data generated by the ability for all things to sense will be extensively integrated in all industries, forming new ones like the Industrial Internet of Things and Connected Vehicles, “with more and better connections, data traffic will grow exponentially, and most of it will be from video,” he stated.

Furthermore, the role of smart devices and smart robots will evolve from being just a tool to being an assistant, as the penetration rate of smart assistants will be 90 per cent by 2025, with 12per cent of homes having smart service robot.

Moreso, with the assistance of guide robots, the world’s 39 million blind people and 246 million people with impaired vision will live normal lives.

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