Digital Lifescapes

A Digital Twin is a virtual representation of a connected physical product, process or service across its whole lifecycle. The virtual replica uses operational real-time data to enable the detection of issues and advance learning. It's also used in simulation scenarios for the physical model counterpart. Digital business enablers, such as big data, machine learning, artificial intelligence, software analytics and cloud solutions, as well as the growing demand for sensors to capture and process data, have been significant drivers for the adoption of Digital Twin applications. Digital Twin Market Development According to the latest worldwide market study by Juniper Research, revenues from Digital Twin applications will reach $13 billion by 2023. Recent market growth is estimated at $9.8 billion in 2019 -- with an average annual growth rate of 35 percent during the forecast period. The research found that increased deployments of advanced sensors to capture data, and technolog...

Smart Data is generated by filtering out the noise from Big Data that's generated by media, business transactions, Internet of Things (IoT), and data exhausts from online activity. Smart Data can uncover valuable commercial insights, by improving the efficiency and effectiveness of data analytics. Furthermore, vast amounts of unstructured Big Data can be converted into Smart Data using enhanced data analytics tools that utilize artificial intelligence (AI) and machine learning (ML) algorithms. Advancements in data processing tools and the adoption of next-generation technologies -- such as augmented analytics used to extract insights from Big Data -- are expected to drive the Smart Data market toward $31.5 billion by 2022. Augmented Analytics Market Development Augmented analytics automates data insights gathering and provides clearer information, which is not possible with traditional analysis tools. Companies such as Datameer, Xcalar, Incorta, and Bottlenose are already f...

Hyperscale cloud service providers continue to leverage their low-cost advantage to drive growth. According to the latest worldwide market study by Canalys, Google Cloud was the fastest-growing cloud infrastructure vendor last year -- up more than 90 percent year-on-year -- increasing its share of the total market from 6 percent in 2017 to 8 percent in 2018. The top four hyperscale cloud service providers accounted for 61 percent of the total market in 2018. Amazon Web Services (AWS) remained the leader on 32 percent, followed by Microsoft Azure with 17 percent, Google Cloud in third place with 8 percent and Alibaba Cloud with 4 percent. Hyperscale Cloud Market Development Canalys reports that hyperscale cloud infrastructure services are in a period of sustained growth, with spending up 46 percent in 2018 to more than $80 billion. Expenditure is also forecast to surpass $143 billion in 2020. More businesses are deploying a hybrid multi-cloud strategy, integrating multiple provi...

Distributed ledger solutions have the capability to ensure the provenance of any asset, via consensus. Blockchain could ensure that the original inspection certificates are not false and, if a problem did develop, could show that the provenance of the materials used by vendors is known. Several retail industry applications are a perfect fit for this emerging technology. Blockchain versatility offers retailers transparency in the supply chain, customer loyalty management and operational efficiencies, among other significant benefits. Retail Blockchain Market Development According to the latest worldwide market study by Juniper Research , annual revenues from blockchain retail asset tracking will reach $4.5 billion by 2023. Juniper’s new study findings uncovered that retailers can opt for different types of deployment approaches for their preferred blockchain applications. It pointed out that some retailers -- such as Alibaba or JD.com -- are launching their own BaaS (Blockchai...

Business leaders that anticipate market demand opportunities or risks -- and then respond quickly in a dynamic way -- will gain a significant competitive advantage. Today, agility is a key benefit of a modern supply chain. Global revenue from demand planning applications will generate over $8 billion by 2025, as Artificial Intelligence (AI) capabilities offered by forward-thinking IT vendors and service providers continue to improve data-driven supply chain transformation. Supply Chain AI Market Development According to the latest worldwide market study by ABI Research, the growing e-commerce sector and the need for supply chain AI solutions in the Asian market are also responsible for this forecasted growth. With the volume and variety of valuable data proliferating inside and outside the typical enterprise, AI and machine learning capabilities are becoming integral to successful supply chain planning. Only with these cognitive computing technologies can companies leverage d...

Despite having existed for more than a decade, virtual cards have been applied to a limited range of business cases for much of their history; primarily Business to Business (B2B) travel purchasing and commercial vehicle fleet management. However, the benefits of card virtualization are starting to evolve outside this narrow application, which is already having an impact on adjacent sectors -- including a move by several fintech players into the business to consumer space, thereby augmenting online account security through the use of their virtual cards. Virtual Card Market Development According to the latest worldwide market study by Juniper Research, the annual value of virtual cards (e.g. temporary card numbers only available for a single transaction or limited time) used by businesses will grow by 90 percent over the next four years -- exceeding $1 trillion by 2022. This is up from an estimated annual value of $568 million in 2019. However, Juniper analysts believe that the...

Cybersecurity investment continues to be a top priority for most IT organizations. Worldwide spending on security-related hardware, software, and services is forecast to reach $103.1 billion in 2019 -- that's an increase of 9.4 percent over 2018. The pace of growth will continue as industries invest heavily in IT security solutions to meet a wide range of cyber threats. According to the latest market study by International Data Corporation (IDC), worldwide spending on IT security solutions will achieve a compound annual growth rate (CAGR) of 9.2 percent over the 2018-2022 forecast period and total $133.8 billion in 2022. IT Security Market Development Three industries will spend the most on security solutions in 2019 -- banking, discrete manufacturing, and federal or central government -- will invest more than $30 billion combined. Three other industries (process manufacturing, professional services, and telecommunications) will each see spending greater than $6 billion this ...

"Artificial Intelligence (AI) promises to drive growth of the United States economy, enhance our economic and national security, and improve our quality of life. The United States is the world leader in AI research and development (R&D) and deployment." Those words are from the U.S. President's executive order issued on February 11, 2019. Will the U.S. government's IT organizations be ready to play their part in assuring the nation's eminence in cognitive computing? Clearly, they must evolve. By 2023, about half the roles that government CIOs will oversee do not exist in government IT organizations today, according to the latest market study by Gartner. Digital Government Market Development Meanwhile, the transition to digital government is slowly gaining momentum. Gartner analysts also found that 53 percent of digital initiatives in government organizations have moved from the design stage to early stages of delivering digitally-driven outcomes. This is...

Ever since the advent of computer use by established banking and insurance organizations in the early 1950s, financial services has been a sector that generates an enormous amount of customer transaction data. That's why they've adopted analytics tools for big data use cases, and it's why they've been one of the first sectors to pilot the deployment and applications of artificial intelligence (AI) systems. AI Chatbot Market Development According to the latest worldwide market study by Juniper Research, the operational cost savings from using chatbots within banking will reach $7.3 billion globally by 2023 -- that's up from an estimated $209 million savings in 2019. This tremendous productivity improvement represents 862 million hours potentially saved for banking business operations by 2023 -- that's equivalent to nearly half a million working years. According to the new research, chatbots can now reduce excessive operational costs in financial service...