Skip to main content

Digital Transformation Strategies Move to the Forefront

At leading multinational corporations, this year will be remembered as a time when board meeting agenda topics were dominated by discussions about the strategic use of business technologies. Meanwhile, savvy IT vendors have developed the offerings required to meet the demands of their most progressive clients.

Executive leaders across the global markets are moving beyond initial proof of concept projects to more scalable Internet of Things (IoT) deployments that incorporate hybrid cloud, big data analytics and associated security capabilities, according to the latest study by International Data Corporation (IDC).

Their worldwide survey -- now in its third year -- explores data and insights from enterprise IT and business decision makers about their perception of IoT -- as well as their early deployments or plans for IoT solutions.

Topics covered in the survey included: levels of enterprise awareness of IoT; current deployment plans; IoT adoption drivers and inhibitors; perceptions of IoT vendors and key selection criteria; organizational factors; and emerging security, cloud, and analytics requirements.

Key findings from the IDC study include:

  • 31.4 percent of organizations surveyed have launched IoT solutions, with an additional 43 percent looking to deploy in the next 12 months.
  • 55 percent of survey respondents see IoT as strategic to their business as a means to compete more effectively.
  • While security and costs are top concerns, the lack of internal skills is now a high-priority for organizations preparing to deploy an IoT solution.
  • Improving productivity, reducing costs, and automating internal processes are seen as key top benefits of an IoT solution.
  • This highlights an internal and operational focus by organizations over the short term as opposed to external, customer-facing benefits.

"Setting strategies, finding budgets, and supporting IoT solutions have contributed to an ongoing tussle between line of business (LOBs) executives and CIOs. However, that race may be over, because in many cases LOBs are now both leading the discussions and either paying in full or sharing the costs of IoT initiatives with the CIOs," said Vernon Turner, senior vice president at IDC.

Market Outlook for Strategic IoT Solutions

According to the IDC assessment, vendors who lead with an integrated 'full-service' cloud and analytics solution are the ones who will be considered as critical strategic partners by clients -- specifically, in their quest to apply an IoT investment with the intent to gain a decisive competitive advantage.

IDC analysts also note that network and traditional IT component hardware vendors are slipping down the charts, as software and systems integrators makes strides in the minds of the primary IoT solution decision makers.

Popular posts from this blog

Open Banking Usage to Grow by 470 Percent

The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ

Mobile Device Market Still Awaiting Recovery

The mobile devices market has experienced three years of unpredictable demand. The global pandemic, geopolitical pressures, supply chain issues, and macroeconomic headwinds have hindered the sector's consistent growth potential. This extremely challenging environment has dramatically affected both demand and supply chains. It has led to subsequent inflationary pressures, leading to a worsening global cost of living crisis suppressing growth and confidence in the sector. In tandem, mobile device industry stakeholders have become more cautious triggering market uncertainties. Mobile Device Market Development Operating under such a backdrop, the development of mobile device ecosystems and vendor landscapes have been impacted severely. Many of these market pressures persisted throughout 2022 and now into 2023, borne chiefly by the smartphone market. According to the latest worldwide market study by ABI Research, worldwide smartphone shipments in 2022 declined 9.6 percent Year-over-Year

Digital Talent Demand Exceeds Supply in Asia-Pac

Even the savviest CEO's desire for a digital transformation advantage has to face the global market reality -- there simply isn't enough skilled and experienced talent available to meet demand. According to the latest market study by IDC, around 60-80 percent of Asia-Pacific (AP) organizations find it "difficult" or "extremely difficult" to fill many IT roles -- including cybersecurity, software development, and data insight professionals. Major consequences of the skills shortage are increased workload on remaining digital business and IT employees, increased security risks, and loss of "hard-to-replace" critical transformation knowledge. Digital Business Talent Market Development Although big tech companies' layoffs are making headlines, they are not representative of the overall global marketplace. Ongoing difficulty to fill key practitioner vacancies is still among the top issues faced by leaders across industries. "Skills are difficul