Expert: What’s in store this year for the technology, media, and telecom industries in Houston

Guest column

Trends in the TMT industry were largely driven by the disruptions related to COVID-19, but disruption also brings innovation and opportunity. Photo via Getty Images

As the new year begins, the impact of the pandemic and what it means for the future remains top-of-mind. COVID-19 has been a catalyst that has fostered change in many industries, including technology, media, and telecommunications (TMT). It's accelerated several trends such as the adoption of cloud technology, telehealth, and remote healthcare, and the intelligent edge.

In Deloitte's 2021 TMT predictions report, we highlight how worldwide trends could affect stakeholders and consumers across the globe. Here in Houston, we see the below trends as especially relevant for the year ahead.

Cloud technology and AI’s significant role

The evolution of instrumentation, automation and connectivity have led us to the "intelligent edge" – a new stage where the combination of advanced wireless connectivity, compact processing power and artificial intelligence have converged. Cloud computing, data analytics and AI are physically closer in the intelligent edge so that data can be rapidly analyzed and acted upon.

In 2021, Deloitte predicts the global market for the intelligent edge will expand to 12 billion, continuing a compound annual growth rate of around 35 percent. With this in mind, this type of technology can play a significant role across the industrial sector in terms of efficiencies and emissions reductions; many Houston companies are already leading in this space.

Additionally, Deloitte predicts that revenue growth will remain at or above 2019 levels (greater than 30 percent) for 2021 through 2025, largely driven by companies that are moving to the cloud in an effort to save money, become more agile and drive innovation. The maturation of the cloud industry during the pandemic has demonstrated resilience and we expect companies to continue to rely more heavily on the cloud in 2021.

Athletes by the numbers

Houstonians are some of the country's biggest sports fans, and in this era of the hyper-quantified athlete, data collection in sports is more prominent than ever.

The digital transformation of sports is in full swing and with it comes the explosion of data. Data collection – through video analytics, wearables, and smart fabrics – and how it is used raises new questions about data privacy for athletes. Deloitte predicts that by the end of 2021, multiple professional sports leagues will establish new formal policies around the collection, use and commercialization of player data.

Additionally, as seen in recent years, the use of high tech will also force teams to be more competitive, which may push boundaries and challenge our ideas about traditional sports.

Our new virtual reality

Last year, the pandemic halted in-person teaching and learning for many local educators and students. In addition, some Houston-based companies had to rethink their approach to onboarding new employees and skills training.

Some companies relied on virtual reality, augmented reality, and mixed reality solutions. These digital reality experiences helped simulate an in-person environment, which created a 50 percent spending increase on AR and VR headsets, software, and services. In 2021, sales for enterprise and educational use of wearable headsets for VR, AR, and MR could grow by 100 percent over 2019 levels.

COVID-19 also brought many industries online, including medicine. Deloitte projects the percentage of total virtual doctors' visits will rise to 5 percent globally in 2021. This means more potential business for the companies providing technologies to support virtual visits. We can also expect that the market for pure-play telehealth virtual visit solutions will reach $8 billion this year. And, we predict that more than $3 billion of medical-grade home health care technology will be sold in 2021, which represents an increase of almost 20 percent over 2019. Houston is already home to the world's largest medical center (Texas Medical Center) and we will likely see its footprint soar in 2021.

These trends in the TMT industry were largely driven by the disruptions related to COVID-19, but disruption also brings innovation and opportunity. As the world continues to wrestle in the grip of a global pandemic, there will likely be further implications that may affect TMT businesses and consumers worldwide and here in our hometown, Houston. To keep apprised of the latest trends, follow us on Twitter @DeloitteTMT.

------

Nate Clark is the U.S. Oil, Gas & Chemicals Digital Practice Leader at Deloitte Consulting LLP. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Houston’s 10 most valuable startups revealed in new report

by the numbers

The Greater Houston Partnership has released its list of the 10 most valuable startups that are fueling the city’s growth and entrepreneurial energy, including industry giants like Axiom Space and Fervo Energy.

Currently, Houston hosts more than 1,300 startups in industries such as energy, life sciences, manufacturing and aerospace, according to the GHP. The list ranks its top 10 startups by valuation based on the company’s last private funding round, reflected in Pitchbook data, as of Oct. 20 of this year.

The top 10 list includes:

10. NXTClean Fuels

Valuation: $530 million

NXTClean Fuels builds biofuel refineries that produce renewable fuel by using feedstocks like cooking oil and recycled organic materials.

9. Homebase

Valuation: $660 million

HR tech company Homebase provides employee management software that helps manage and optimize timesheets, payroll and more, with over over 100,000 small businesses and 2 million hourly workers using its product.

8. Zolve

Valuation: $800 million

Zolve is a banking platform that provides customers with access to financial products that aim to be accessible, flexible, and affordable than other financial platforms.

7. Stramsen Biotech

Valuation: $807 million

Stramsen Biotech develops plant-based drug therapies that target both infectious and noninfectious diseases, which include cancer, diabetes, HIV, kidney disease and neurological issues.

6. Octagos

Valuation: $843 million

Healthtech company Octagos has developed a remote cardiac monitoring software driven by AI that helps consolidate patient data in real-time, assisting healthcare professionals in providing quicker, easier and more accurate care.

5. Fervo Energy

Valuation: $1.4 billion

Pioneering geothermal company Fervo Energy combines horizontal drilling and fiber-optic sensing to produce electricity. The company is developing its flagship Cape Station geothermal power project in Utah. The first phase of the project will supply 100 megawatts of power beginning in 2026

4.Cart.com

Valuation: $1.7 billion

Cart.com is an e-commerce giant and logistics solutions provider that was founded in 2020 and obtained unicorn status within just three years.

3. Axiom Space

Valuation: $2.1 billion

Axiom Space is one of the anchor tenants at the Houston Spaceport, and has completed four missions of sending commercial astronauts to the ISS since 2022. In 2027, the company expects to see the first section of its private space station, Axiom Station, launched into low-earth orbit.

2. Solugen

Valuation: $2.175 billion

Solugen replaces petroleum-based products with plant-derived substitutes through its Bioforge manufacturing platform.

1. HighRadius

Valuation: $3.2 billion

HighRadius uses advanced technology to automate and manage accounts receivable processes for businesses worldwide.

The GHP also released its State of Houston’s Tech and Innovation Landscape, which mapped Houston’s digital and innovation sectors. Read the full report here.

Photos: Highlights from the 2025 Houston Innovation Awards

Innovation Awards Recap

The 2025 Houston Innovation Awards season came to a close on Nov. 13 at InnovationMap's annual awards program and networking event.

The fifth annual Houston Innovation Awards celebrated more than 40 innovative finalists and crowned 10 winners across prestigious categories. In the weeks leading up to the event, finalists were profiled in our editorial series spotlights. Read all about this year's winners here.

Finalists, judges, and special guests connected during an exclusive VIP reception before the doors officially opened for the evening. A full house of attendees then gathered to celebrate the best and brightest in Houston innovation right now. The night culminated in an awards program, emceed this year by Lawson Gow, Greentown Labs Head of Houston.

Scroll through the photos below for scenes from the event, including the winners, the guests, and more highlights from the program.

Special thanks to this year's sponsors for an unforgettable evening honoring Houston innovation: Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, William Price Distilling, and Citizens Catering.

2025 Houston Innovation Awards Winners:

Energy Transition Business of the Year: Eclipse Energy. Photo by Emily Jaschke
2025 Houston Innovation Awards Winners:

2025 Houston Innovation Awards Winners, Continued

Minority-founded Business of the Year: Mars Materials. Photo by Emily Jaschke

2025 Houston Innovation Awards Guests 

Photo by Emily Jaschke

More 2025 Houston Innovation Awards Highlights

Photo by Emily Jaschke

Texas ranks among 10 best states to find a job, says new report

jobs report

If you’re hunting for a job in Texas amid a tough employment market, you stand a better chance of landing it here than you might in other states.

A new ranking by personal finance website WalletHub of the best states for jobs puts Texas at No. 7. The Lone Star State lands at No. 2 in the economic environment category and No. 18 in the job market category.

Massachusetts tops the list, and West Virginia appears at the bottom.

To determine the most attractive states for employment, WalletHub compared the 50 states across 34 key indicators of economic health and job market strength. Ranking factors included employment growth, median annual income, and average commute time.

“Living in one of the best states for jobs can provide stable conditions for the long term, helping you ride out the fluctuations that the economy will experience in the future,” WalletHub analyst Chip Lupo says.

In September, Gov. Greg Abbott announced Texas led the U.S. in job creation with the addition of 195,600 jobs over the past 12 months.

“Texas is America’s jobs leader,” Abbott says. “With the best business climate in the nation and a skilled and growing labor force, Texas is where businesses invest, jobs grow, and families thrive. Texas will continue to cut red tape and invest in businesses large and small to spur the economic growth of communities across our great state.”

While Abbott proclaims Texas is “America’s jobs leader,” the state’s level of job creation has recently slowed. In June, the Federal Reserve Bank of Dallas noted that the state’s year-to-date job growth rate had dipped to 1.8 percent, and that even slower job growth was expected in the second half of this year.

The August unemployment rate in Texas stood at 4.1 percent, according to the Texas Workforce Commission. Throughout 2025, the monthly rate in Texas has been either four percent or 4.1 percent.

By comparison, the U.S. unemployment rate in August was 4.3 percent, according to the U.S. Bureau of Labor Statistics. In 2025, the monthly rate for the U.S. has ranged from 4 percent to 4.3 percent.

Here’s a rundown of the August unemployment rates in Texas’ four biggest metro areas:

  • Austin — 3.9 percent
  • Dallas-Fort Worth — 4.4 percent
  • Houston — 5 percent
  • San Antonio — 4.4 percent

Unemployment rates have remained steady this year despite layoffs and hiring freezes driven by economic uncertainty. However, the number of U.S. workers who’ve been without a job for at least 27 weeks has risen by 385,000 this year, the Bureau of Labor Statistics reported in August. That month, long-term unemployed workers accounted for about one-fourth of all unemployed workers.

An August survey by the Federal Reserve Bank of New York showed a record-low 44.9 percent of Americans were confident about finding a job if they lost their current one.
View All Listings