Tech, Media, and Telecom (TMT) Thematic Report Overview

The top 17 themes impacting the tech, media, and telecom (TMT) industry in 2025 are classified into four groups – hardware, software and services, internet and media, and telecoms. The major hardware themes impacting the tech, media, and telecom (TMT) sector are semiconductors, component makers, and others. The software and services themes are application software, enterprise security software, and others. E-commerce, social media, and advertising are the relevant internet and media themes in the tech, media, and telecom (TMT) industry. Telecom services are the most talked about technology themes in 2024.

The Tech, Media, and Telecom (TMT) thematic intelligence report identifies the top themes that will impact the tech, media, and telecom (TMT) sector’s growth in the coming years. For each theme, the report offers a series of predictions, identifies winners and losers, and points one to further reading. Moreover, the report assesses how well companies are positioned for the future based on their competitive position in the main themes that are disrupting their sector.

Tech, Media, and Telecom (TMT) - Top Themes

The top themes analyzed in the report are:

Semiconductors

Component makers

Consumer electronics

IT infrastructure

Telecom infrastructure

Industrial automation

Application software

Enterprise security software

IT services

Cloud services

E-commerce

Social media

Advertising

Music, film, and TV

Gaming

Publishing

Telecom services

Semiconductors: As the proliferation of artificial intelligence (AI) tools continues and computing tasks grow increasingly demanding and data-intensive, the advancement of semiconductor technology has emerged as a critical priority. Generative AI has fueled much of the recent tension between the US and China. The training of large language models (LLMs), which may possess upwards of one trillion parameters, necessitates sophisticated chips, such as graphics processing units (GPUs) and AI accelerators. This friction has resulted in considerable technological and supply chain challenges within the semiconductor sector, which will only intensify as AI becomes ubiquitous and calls for the rapid evolution of the chips industry to supply new generations of more capable chips at scale. Tech giants like Alphabet, Alibaba, Apple, Baidu, Microsoft, and Meta are designing in-house custom chips, reducing their reliance on chip vendors such as Intel, AMD, Nvidia, and Micron.

Application software: In 2024, the application software sector was characterized by challenges and opportunities, reflecting technological advances and broader macroeconomic trends. While themes like AI and big data are critical for the application software sector, all companies must also emphasize cloud, IoT, the future of work, and cybersecurity. A disruptive theme is geopolitics, which remains a concern for companies of all sizes in this sector.

E-commerce: Data privacy, antitrust, and ESG are high on the agenda for regulators globally. The past year has seen several notable events, including the US Department of Justice’s ruling on Google’s anticompetitive behavior, the arrest of Telegram founder Pavel Durov, and the proposed ban on TikTok in the US. E-commerce companies will continue to see stringent measures against transgressions as regulators seek to protect consumers, smaller companies, and the environment. While many of these regulatory issues revolve around technology use (or misuse), tools such as AI, robotics, and digital payments, amongst others, still boast a wealth of benefits. They can connect companies with their consumers, enhance delivery options, and facilitate easier access to goods and services.

Key Highlights

It is over two years since OpenAI released ChatGPT and put artificial intelligence (AI) back at the top of corporate agendas worldwide. AI remains the most talked about technology theme, representing both an opportunity and a threat for all businesses. However, enterprises will expect tangible returns on their AI investment in 2025, and AI vendors will be under growing pressure to deliver on their promises.

Ongoing geopolitical turmoil and macroeconomic uncertainty will ensure the global outlook remains volatile and unpredictable in 2025. Technologies like AI contribute to that volatility but can also help organizations adapt to profound shifts in an uncertain world.