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Why CIOs and IT Leaders Must Evolve Now

The informed CEO, and board of directors for multinational enterprises, will seek digital growth from their business technology investments. Moreover, the ongoing global pandemic and the surge in digital services are making cloud computing the centerpiece of new digital experiences, according to Gartner. "There is no business strategy without a cloud strategy," said Milind Govekar, vice president at Gartner . "The adoption and interest in public cloud continues unabated as organizations pursue a 'cloud first' policy for onboarding new workloads." Global Cloud Computing Market Development In 2022, global cloud revenue is forecast to total $474 billion -- that's up from $408 billion in 2021. Over the next few years, Gartner analysts estimate cloud revenue will surpass non-cloud revenue for relevant enterprise IT markets. Gartner analysts believe that more than 85 percent of organizations will embrace a cloud-first principle by 2025 and will not be able to
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Open Banking-Facilitated Payments Market Upside

Open Banking initiatives are driving market disruptors in financial services, with Banking-as-a-Service (BaaS) and Embedded Finance. They're an enabler for the delivery of these fintech digital services transformation concepts.  While the basic concepts are not totally new, their rise to prominence was fuelled by the European Union's Second Payment Services Directive (PSD2) and other key initiatives in recent years. This transition has helped shape interaction patterns between traditional and emerging actors in the payments marketplace. As such, Open Banking will be a game-changer for business model innovation in the face of customer demands for improved financial products and services. Open Banking Market Development According to the latest worldwide market study by Juniper Research, the value of global payment transactions facilitated by Open Banking will exceed $116 billion in 2026 -- that's up from just under $4 billion in 2021. This extraordinary growth rate of over 2,

Top 10 Predictions for The Worldwide CIO

Chief executives are eager to accelerate a digital business growth agenda. Focused on business model reinvention, the remediation of technical debt, sustainable IT infrastructure and more, International Data Corporation (IDC) unveiled their Worldwide CIO Agenda 2022 Predictions. The key IDC predictions will likely impact CIOs and IT professionals over the next one-to-five years. IDC analysts believe IT leaders have opportunities that will not present themselves again in their lifetimes. Chief Information Officer Agenda Predictions With forward-looking insights, IDC provides senior IT leaders and Line-of-Business (LoB) executives with actionable guidance for managing IT investment priorities and implementation strategies as they continue to navigate the winds of change. The top ten IDC predictions are: 1: Through 2026, 65 percent of CIOs will sustain a cycle of tech-based empowerment, agility, and resilience through collaborative governance, new service delivery models, and a business o

National 5G Wireless Network Global Competition

Nothing can stop the continued growth of global wireless communications. Despite a slight decline in the worldwide mobile subscriber base resulting from the COVID-19 pandemic, mobile network operators across different markets continue to expand fifth-generation (5G) infrastructure deployments. By the end of 2020, 264 million subscriptions were achieved. According to the worldwide market study by ABI Research, the 5G market will continue to accelerate and reach 2.6 billion subscriptions -- that's a significant contribution to mobile network operator revenue of $942 billion in 2026. 5G Wireless Network Market Development Driven by the investment of local network operators, China is a leader of the 5G market, holding more than two-thirds of worldwide 5G subscriptions at present. The United States is second in 5G adoption with more than 50 million subscribers, followed by the leading markets in Japan and South Korea. "Operators' effort to expand 5G networks, combined with qui

Business Technology for The Anywhere Workspace

The COVID-19 global pandemic fueled the trend of pushing executives outside of their comfort zone, while government-mandated lockdowns required their knowledge worker employees to work from home. Companies that previously avoided 'Flexible Working' models were forced to embrace the pervasive trend in a matter of weeks, as new remote working policies became a CHRO standard practice. As we enter 2022, more employers will empower their key employees to work wherever they desire and engage with customers whenever and however they prefer. Moreover, the ongoing transformation to an 'Anywhere Workspace' will drive strategic IT spending and advance cloud-based SaaS adoption. Business Technology Market Development Global enterprise IT spending is projected to total $4.5 trillion in 2022, an increase of 5.5 percent over 2021, according to the latest worldwide market study by Gartner. "Enterprises will increasingly build new technologies and software, rather than buy and imp

Smart Hospital Market Revenue will Reach $59 Billion

The COVID-19 pandemic created unprecedented demand for emergency care. Many healthcare sector leaders would like to be at the forefront of tech-enabled medical caregiving. However, the fragmented way that hospitals acquire solutions can introduce cost, time, and resource inefficiencies that hinder care delivery. As a result, some healthcare providers have embraced the concept of the ‘Smart Hospital’ as a means of optimizing multiple aspects of their operational performance. The current model isn't perfect, and the implementation can present challenges -- such as cybersecurity, interoperability, and solution execution. Smart Hospital Market Development According to the latest worldwide market study by Juniper Research, the smart hospitals market will be worth $59 billion by 2026 -- that's up from $29 billion in 2021, representing an average annual growth of 15 percent. The concept of the smart hospital includes healthcare providers leveraging advanced analytics, connected device

Why Managed Cloud Services Demand Accelerated

As more enterprise CIOs and CTOs transition to the cloud, the opportunities for managed service providers (MSPs) expanded. At the same time, the managed cloud services market has become more complex as organizations increasingly look to their service providers for superior solutions and business technology leadership. A worldwide survey by International Data Corporation (IDC) examined the service and business requirements that MSPs and their ecosystem partners need to optimize their growth opportunities and drive competitive advantage in the market for managed cloud services. Managed Cloud Services Market Development Due in part to the COVID-19 pandemic, leaders utilize public cloud capabilities (IaaS, PaaS, SaaS), innovative technologies and processes (IoT, edge computing, blockchain), and multi-cloud management platforms for their growth strategies and to ensure business resiliency. While very few organizations have shifted all of their IT applications and infrastructure to the cloud

Climate Change Benefits from The Circular Economy

The COP26 Summit (in Glasgow, Scotland)  brought parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. Meanwhile, the circular economy is a key sustainability strategy adopted by industry leaders in their efforts to achieve progress. While the circular economy is still in its infancy in terms of data and metrics, it's a growing phenomenon where technology sectors -- such as the Internet of Things (IoT) for asset tracking -- are set to grow rapidly within the next five years. Global technology intelligence firm ABI Research forecasts that the world will achieve over 10.5 percent circularity by 2030, as sustainability efforts and incoming legislation start to take effect. Circular Economy Tech Market Development "The circular economy is an often-misunderstood concept that goes much further than waste management and can become a blueprint for cities. It is a movement away from our take-make-waste economy

Guidance for Leading Digital Business Value Creation

In today's environment where business technology is a key enabler of competitive advantage, CEOs need to be sure that someone is confidently leading digital business growth across the organization. The default is the Chief Information Officer (CIO) role. According to the latest worldwide market study by Gartner, in order to accelerate business value creation, CIOs and other IT executives should focus on three key areas -- leading from anywhere, nurturing connections, and reaching beyond. Mbula Schoen, senior research director at Gartner , said that as organizations continue to emerge from the disruption of the COVID-19 pandemic, CIOs and IT executives will need to generate value in fundamentally new ways. Business Technology Market Development Gartner forecasts that by the end of 2022, the share of knowledge workers working remotely will increase to 47 percent -- that's up from 27 percent in 2019. However, simply moving from onsite to remote is not the destination but merely a

B2B Payments Growth will Reach $54 Trillion in 2023

Business-to-Business (B2B) payments represent a significant upside growth opportunity for fintech vendors. While many businesses have been transferring funds to each other for a long time, the typical process remains difficult to navigate due to the many workflow challenges. B2B payments can take a variety of forms ranging from basic cash payments to sophisticated instruments like virtual cards, which solve the problems of B2B payments to varying degrees, but some core challenges remain. The ever-greater use of process automation is also a key trend within the B2B payments arena and represents a potential solution if the underlying payment systems can support the necessary elements. B2B Payments Market Development According to the latest worldwide market study by Juniper Research, the transaction value of B2B domestic payments across payment methods will exceed $54 trillion in 2023 -- that's up from $49 trillion in 2021. The research findings predict a growth rate of 10 percent, re