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Disrupting the World, One Device at a Time: Citi

Wednesday, 29 May 2013 | 3:07 PM ET
Source: Square

Three-dimensional technology, smokeless cigarettes and mobile payments are widely considered convenient and cool. Yet could such technology really change the world?

Judging by a recent report from Citigroup, it just might. Along with new energy production methods, Web streaming and software networking, the bank recently cataloged 10 different forms of technology that are disrupting markets and sparking innovation.

(Read More: New Technologies That Could Change the World )

Technologies Changing the World
There are about 6 billion cellphone subscriptions globally. A look at which tech companies are leading the way in the space, with the "Power Lunch" crew. Also, CNBC's Jon Fortt reports from the All Things Digital conference, where Apple's Tim Cook addressed U.S. tax rates.

Given the proliferation of smartphones and tablets, mobile payments is a growing area of interest for markets—and a lucrative segment for technology companies. According to analysts, there are approximately 6 billion cellphone subscriptions across the world—meaning there are at least that many people who could potentially utilize their smartphones as portable cash registers.

"If you think of how many people who are out there that do not have cards or bank accounts, the power to include all of those and make this a much bigger market that affects a large proportion of the world's population is tremendous," Ashwin Shirvaikar, an analyst from Citi's computer service and IT consulting arm, said in an interview Wednesday on CNBC's "Power Lunch."

Citi cited emerging markets and Japan as areas where mobile payments tech is growing by leaps and bounds. According to IE Market Research, mobile payments could see $1 trillion worth of turnover by 2016.

Web-based entertainment is also a big game changer, Citi noted in its report. This week, Netflix sent tongues wagging when it revived "Arrested Development"—a defunct television series with a cult following—which fanned expectations that streaming will eventually challenge traditional TV and movie watching.

(Read More: Procera: Netflix's 'Arrested Development' a Success)

America's renewed energy production is giving rise to innovative new drilling and oil and gas technologies. Citi cited hydraulic fracturing technology as helping to lead the world's largest economy into an energy revolution that could prove extremely lucrative.

"Subsea processing equipment has the potential to be a $100 billion per annum market by the next decade," Citi analysts said.

By CNBC's Javier David

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