Top TMT industry trends and emerging issues to tackle in 2022

Armed with the experiences of living through the acute disruptions and systemic challenges caused by the pandemic, TMT leaders have an opportunity to be more deliberate and purposeful as they prepare for the future. Over the last two years, established trends have evolved, and new opportunities, new competition, new technologies, and new responsibilities have sprung up at the edges of markets. Innovations defined by interactivity, immersion, and social connection are being enabled by the technology, telecom, and semiconductor industries. These, in turn, are helping drive new opportunities for media and entertainment and sports organizations.

To explore these shifts in detail, Deloitte’s industry leaders recently published outlooks for 2022 for the technology, semiconductor, telecom, media and entertainment, and sports industries. These viewpoints highlight strategic issues for organizations in the coming year and their impact, as well as critical questions to ask and key actions to take.

• Technology: The technology industry has largely thrived over the past two years, but that momentum may not be sustainable without additional change. To help enable the next wave of growth, technology companies should address several challenges. These include managing the technical and operational complexities of multi-cloud approaches, rebuilding supply chains with better visibility and resiliency, preparing their hybrid workforce for the long term, and heightening their focus on reducing and reversing environmental impact.
  
• Semiconductor: The semiconductor industry cemented its place as truly essential during the pandemic. The chip shortages of 2020 and 2021 will likely persist through 2022—with significant financial impact. To remedy this, the industry is looking to invest hundreds of billions of dollars to meet overall growing demand for things like AI, data centers, high-performance computing, health care, and automotive applications. The industry is also looking to localize manufacturing more over the next few years. This will likely require taking new approaches to finding and developing the necessary talent.
• Telecom: In 2022, the industry will see increased competition in broadband markets, and around multi-access edge computing and private cellular networks. Consumers will have increased choice, with access to more high-quality options from telecom, cable, wireless, and satellite internet providers. The industry will also be looking at how to spend the US$65 billion from the federal government for continued broadband adoption and deployment in the United States.¹ Finally, cybersecurity challenges will likely get more attention as 5G adoption becomes widespread and new risks are exposed.
• Media and entertainment: On the surface, changes for 2022 appear incremental, with a continued focus on competing for time-strapped audiences. But the reality is that there are deep undercurrents reshaping the landscape. Content is coming from everywhere. Social media is becoming increasingly shoppable. Non-fungible tokens (NFTs) are bringing scarcity and exclusivity to the internet. Popular games are social destinations and are creating their own economies. Enthusiasm for virtual worlds is growing. As worlds blur, media and entertainment companies will likely see new opportunities, changed business models, and the potential for unanticipated consequences.
• Sports: In 2022, the blending of the real and digital worlds will accelerate for sports, with growing opportunities for NFTs and immersive technologies (e.g., augmented reality). College athletics will see some of its biggest changes ever, with student-athletes exercising more self-determination. Blockchain-enabled innovations will evolve and potentially open entirely new markets. Sports betting companies will relentlessly pursue customers as the industry matures and consolidates. Finally, the influence of sports in society will continue to receive attention, focusing on sustainability and mental health, among other areas.