Digital Lifescapes

Digital business growth continues to fuel the Global Networked Economy, which requires a corresponding investment in Information and Communications Technology (ICT) infrastructure. Despite the trade war between the United States and China, purchases of ICT systems and services will maintain steady growth over the next five years. According to the latest worldwide market study by International Data Corporation (IDC), ICT spending on hardware, software, services, and telecommunications will achieve a compound annual growth rate (CAGR) of 3.8 percent over the 2019-2023 forecast period, reaching $4.8 trillion in 2023. ICT Infrastructure Market Development Digital transformation and the adoption of automation technologies will be driving ongoing investment in applications, analytics, middleware, and data management software -- as well as increasing demand for IT server and storage capacity. Commercial purchases will account for nearly two-thirds of all ICT spending by 2023 -- that...

As artificial intelligence (AI) evolves, applications of augmented intelligence -- the combination of human and AI capabilities -- will likely deliver the greatest benefits. CIOs should prioritize augmented intelligence to scale their employee talent as one of the most valuable contributions to business innovation. In 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally, according to the latest worldwide market study by Gartner. Augmented Intelligence Market Development Gartner defines 'augmented intelligence' as a human-centered partnership model of people and AI technologies working together to enhance cognitive performance. This includes learning, decision making and new experiences. "Augmented intelligence is all about people taking advantage of AI," said Svetlana Sicular, research vice president at Gartner . "As AI technology evolves, the combined human and A...

Blockchain and distributed ledger technologies have received a significant amount of media attention over the last couple of quarters. Regardless, the market for these emerging technologies is still in the early stages of applications growth. That said, global revenues for blockchain technology are on track to reach almost $10 billion by 2023, according to the latest worldwide market study by ABI Research. Blockchain Market Development Enterprise organizations continue to show growing interest in blockchain applications, in contrast to the significant decrease in Initial Coin Offerings (ICOs) during 2018. Vendor Investment continues to swell, buoyed primarily by an increase in venture capital (VC) funding, notably in blockchain infrastructure development. VC funding is catching up to ICOs, with 620 investment rounds totaling $3.1 billion in 2018 -- that's up from 153 rounds at $850 million in 2017. "Tighter regulation (including securities) and taxation on cryptocu...

The retail market has undergone a radical transformation, driven by an increasing focus on customer use of technology. Indeed, shoppers are now everywhere: in retailer stores, online or both at the same time -- comparison shopping via their smartphones. It's forcing retailers to offer superior shopping experiences that are coupled with omnichannel payments. By the end of 2019, eCommerce will have a significant role to play with 44 percent of the global population purchasing physical goods and 27 percent purchasing digital goods. Since eRetail has been disrupting the sector, legacy retailers have learned to incorporate more digital channels into their own offerings. Remote Payments Market Development According to the latest worldwide market study by Juniper Research, the total transaction value of remote payments for digital and physical goods will exceed $6 trillion by 2024 -- that's a growth rate of 53 percent from 2019. The new study revealed that online sales will ...

Clinical-grade remote patient monitoring (RPM) is a solution that involves the secure transmission of medical data collected on devices, via telecommunications services. It's enabled through text, sound, images or other digital media used for the prevention, diagnosis, treatment and follow-up of healthcare patients. The applications of emerging technologies such as the Internet of Medical Things (IoMT), Artificial Intelligence (AI), and Big Data analytics are enabling vendors to develop new use cases for remote patient monitoring. Remote Patient Monitoring Market Development In recent years, venture capitalists have increasingly invested in start-ups with competencies in these areas, especially integrated and lower-cost monitors and sensors. With this development, RPM will help to shift some healthcare services from the hospital to the home. According to the latest market study by Frost & Sullivan, RPM is forecast to become a mainstream medical service, with related rev...

The pace of cloud computing adoption will accelerate as more organizations explore hybrid IT strategies. CIOs and CTOs will fine-tune the mix of on-premises and managed cloud services for their user's varied applications and workloads. Worldwide spending on public cloud services and infrastructure will more than double over the 2019-2023 forecast period, according to the latest market study by International Data Corporation (IDC). With a five-year compound annual growth rate (CAGR) of 22.3 percent, public cloud spending is forecast to grow from $229 billion in 2019 to reach nearly $500 billion in 2023. Public Cloud Service Market Development "Adoption of public (shared) cloud services continues to grow rapidly as enterprises, especially in professional services, telecommunications, and retail, continue to shift from traditional application software to software as a service (SaaS) and from traditional infrastructure to infrastructure as a service (IaaS) to empower custo...

The global automotive industry continues to explore ways to integrate the internet of things (IoT) technology into vehicles during the manufacturing process. Connected car capabilities provide the foundation for third parties to offer innovative new telematics-related applications. According to the latest worldwide market study by Berg Insight, the number of active aftermarket car telematics units will grow at a compound annual growth rate (CAGR) of 20.6 percent from 58.7 million at the end of 2018 to 150 million at the end of 2023. Automobile Telematics Market Development Berg Insight’s definition of an aftermarket car telematics solution includes both cellular GNSS and RF-based solutions. A growing number of aftermarket telematics services have in the past few years become available for consumers that want to add services and connectivity to automobiles. Berg Insight forecasts that shipments of aftermarket car telematics devices for consumer applications will grow from 20.3 m...

What's driving the growth of Information Technology (IT) applications, and why are senior executive buyers so opinionated about the most effective IT investment strategy? Digital business transformation is on the agenda of every forward-looking enterprise. Leaders in the C-suite are key decision-makers. Global IT spending is projected to total $3.74 trillion in 2019 -- that's an increase of just 0.6 percent from 2018, according to the latest worldwide market study by Gartner. Note, this forecast is slightly down from the previous quarter’s forecast of 1.1 percent anticipated growth. Information Technology Market Development "Despite uncertainty fueled by recession rumors, Brexit, trade wars and tariffs, we expect IT spending to remain flat in 2019," said John-David Lovelock, vice president at Gartner . "While there is great variation in growth rates at the country level, virtually all countries tracked by Gartner will see growth in 2019." Regardless ...

The presence of cybercriminal activity online is an everyday challenge within the enterprise finance sector. Cybercrime is now an established threat to corporations and their customers. It's largely due to IT security policies that are difficult to enforce and the under-utilization of effective encryption. Coupled with the challenges of cybercrime, financial service institutions now experience business model disruption from innovative Fintech start-ups and increasing regulatory oversight from legislation such as the Second Payment Services Directive (PSD2). IT Security Market Development It's in this atmosphere that financial sector leaders must make informed decisions on where to focus their IT budget to achieve security resilience. The Return on Investment (ROI) for an IT security project is not an easy calculation -- knowledge and experience are crucial in making those decisions. The bottom line is the traditional financial sector must apply best-fit cybersecurity me...