Holiday period market recap: Global Market and Technology Highlights

January 4 2025

FutureGate | The autonomous vehicle (AV) sector is poised to play a major role in the $480 billion global ride-sharing market by 2032, according to Fortune Business Insights. Waymo, a subsidiary of Alphabet, has solidified its leadership in the U.S. market by completing over 5 million autonomous rides in cities such as San Francisco, Phoenix, and Los Angeles. This represents a dramatic rise from the 700,000 rides recorded just a year ago, highlighting the rapid growth and adoption of autonomous technology in the transportation sector. Pony AI, expecting its robotaxi fleet to grow from 250 to 1,000 by the end of 2025. The company, a leader in L4 autonomous mobility in China, is poised for growth with plans to expand into the U.S. Goldman Sachs predicts a 27% revenue growth rate over the next three years, with potential for a 158% CAGR by 2027-2030.

Meanwhile, China continues to push the boundaries of technological advancement with the unveiling of 5G technology capable of supporting 10,000 military robots and drones simultaneously, signaling the country’s leadership in cutting-edge innovation. However, China’s economy is facing challenges, as evidenced by a slowdown in factory activity, with the Purchasing Managers’ Index declining to 50.1 in December from 50.3 in the previous month, despite stimulus efforts. In the automotive sector, China’s electric vehicle (EV) sales are set to surpass those of combustion engine vehicles by 2025, marking a pivotal shift in the global auto industry.

In the U.S., housing listings surged by 12.1% year-over-year in November, reaching levels not seen since 2020. However, energy markets are facing volatility, with European natural gas prices spiking to nearly €50 per megawatt-hour, the highest level in over a year, amid halted Russian gas deliveries across Ukraine. Meanwhile, Norwegian energy company Equinor secured $3 billion in financing for its Empire Wind 1 project, which is set to power 500,000 New York homes by 2027, highlighting the continued growth of renewable energy investments.

On the tech front, Nvidia invested billions in AI-focused deals in 2024, as the AI consulting market is projected to grow eightfold from $6.9 billion in 2024 to $54.7 billion by 2032. In quantum computing, MicroAlgo Inc. has made strides by developing a hybrid classical-quantum algorithm with 99% qubit efficiency, advancing data optimization for complex applications. Additionally, Ibiden Co., a key supplier for major tech companies such as Nvidia, Intel, and TSMC, is ramping up production of AI chip materials to meet soaring demand in the AI and semiconductor markets.

In healthcare, Capricor Therapeutics has submitted its Biologics License Application for deramiocel, a treatment for Duchenne muscular dystrophy cardiomyopathy, triggering a $10 million milestone payment. Verastem Oncology’s combination therapy for low-grade serous ovarian cancer has also received FDA priority review, with a PDUFA action date set for June 30, 2025, reflecting strong regulatory positioning for the company’s promising treatment.

On the commodities front, gold prices edged higher on a positive outlook, with jobless claims in the U.S. falling to an 8-month low. Crude oil prices also gained as U.S. inventories continued to decline, suggesting tightening supply conditions.

The cryptocurrency market is also witnessing growth, with stablecoins predicted to experience significant expansion. As the crypto space matures, stablecoins are becoming increasingly integrated into financial systems and applications, with market experts forecasting a surge in adoption and usage. This trend is expected to drive further developments in blockchain technology and digital finance, offering new opportunities for investors and businesses alike.

Finally, the gaming industry is experiencing explosive growth, fueled by technological advancements and soaring consumer demand. Valued at $220 billion in 2024, the sector is projected to reach $260 billion by 2026, as the industry capitalizes on new technologies and an expanding global player base.