Digital Lifescapes

Trusted banking relationships are important to both customers and financial services organizations. Traditionally, a banking relationship was a longstanding one, that could potentially last a customer’s lifetime. Today, that now seems like a bygone era. The introduction of online and mobile banking solutions has fundamentally altered the traditional relationships in the banking area, enabling disruption to the legacy financial services business model. Measures to increase competition and make switching accounts easier have reduced friction, while strong commoditization of services in the U.S. market has led to decreases in profit margins. Digital Banking Market Development The total number of digital banking users will exceed 3.6 billion by 2024 -- that's up from 2.4 billion in 2020 and a 54 percent increase, according to the latest worldwide market study by Juniper Research. This growth will be driven by the rise of digital-only banks, fintech innovations, and the ongoin

How do business leaders react when there's a sudden disruption in the Global Networked Economy? While some leaders see only challenges, the bold and the brave envision an opportunity for the development of solutions that result in unique competitive advantages. The outbreak of the COVID-19 epidemic has showcased the value of IT and Digital Transformation, and savvy leaders of forward-looking organizations will now accelerate the transition, according to the findings in two recent surveys of senior executives in China. The first IDC survey canvassed the opinions of 32 CxOs in 10 industries and covered three qualitative aspects: the impact of the COVID-19 epidemic on corporate business; the value of IT and digital transformation in the fight against the outbreak; and new digital transformation measures after the epidemic. The second, quantitative survey polled 121 CxOs of industry users, comprising 19 questions such as judgment on epidemic development and its impact on the econ

Enterprise data privacy compliance has created a significant operational burden for many organizations. Now CIOs and CTOs are adopting automation tools that can ease the task of ensuring that their employees follow the relevant domestic and international requirements. Over 40 percent of privacy compliance technology will rely on artificial intelligence (AI) solutions by 2023 -- that's up from 5 percent today, according to the latest worldwide market study by Gartner. "Privacy laws, such as General Data Protection Regulation (GDPR), presented a compelling business case for privacy compliance and inspired many other jurisdictions worldwide to follow," said Bart Willemsen, research vice president at Gartner . Data Privacy Compliance Market Development More than 60 jurisdictions around the world have proposed or are drafting post-modern privacy and data protection laws. Canada, for example, is looking to modernize its Personal Information Protection and Electronic Doc

CIOs and CTOs are exploring new ways to extract insights from their enterprise data assets with analytics tools. While they continue to invest in on-premises solutions, they're also looking to public cloud service providers. As cloud computing providers grow their footprint in the internet of things (IoT) value chain, their investments in data and analytics services are accelerating. Based on the review of cloud service provider offerings, recent acquisitions, and the competitive outlook, ABI Research now forecasts that cloud suppliers will grow their share of IoT data and analytics management revenues from $6 billion in 2019 to $56 billion in 2026. IoT Data and Analytics Market Development While the growth is impressive, cloud vendor services today are focused on data management complemented by a generic analytics toolset. That said, cloud computing vendor revenues come primarily from streaming, storage, and the orchestration of data. In contrast, most analytics service

While 2019 was the year that fifth-generation (5G) wireless services were deployed across the globe, this is just the beginning of the new trend. So far, launches in North America, West Europe and the Middle East created a small base of 5G customers, however, the technology gained significant traction within the Far East and China markets. As a result of strategic foresight by the government, the early launch and fast customer adoption in South Korea clearly drove their 5G deployment leadership. By the end of the year, there were an estimated 4.5 million 5G users in the Far East market, roughly 80 percent of the global total, nearly all of them in South Korea. 5G Network Infrastructure Market Development North America had the second-highest number of connections, reaching an estimated 800,000 users. West Europe is taking a more tentative approach, waiting to see how the technology develops and evolves, while some parts of the world lack the infrastructure to start on 5G for at le

When governments invest in new infrastructure, information technology (IT) is now a key component of their development plan. Very large municipal governments, in particular, are spending more on Smart City projects that provide their citizens with many unique advantages. Furthermore, the IT infrastructure advancement trend is gaining momentum across the globe, as established and emerging technology applications are adopted by the forward-thinking leaders. Global spending on smart cities initiatives are forecast to total nearly $124 billion this year -- that's an increase of 18.9 percent over 2019, according to the latest worldwide market study by International Data Corporation (IDC). Smart City Initiative Market Development The top 100 cities investing in smart initiatives in 2019 represented around 29 percent of global spending, and while growth will be sustained among the top spenders in the short term, the market is quite dispersed across midsize and small cities investi

Given the typical complexity of planning and achieving a digital transformation, Chief Information Officers (CIOs) within federal, state or local governments have many challenges. As an example, they must rely upon the financial approval of elected or appointed leaders that are incapable of understanding the current business technology landscape. Government CIOs struggle to obtain funding for qualified independent consultants that can help them to validate their requirements for modern IT infrastructure. Some IT vendors provide professional services that offer transformation guidance, but it's often inconclusive. A survey has uncovered the key issues. Government IT Market Development Fifty-eight percent of government CIOs faced organizational disruption during the past four years, according to the latest worldwide market study by Gartner. Fifty-two percent of respondents said they had also faced a funding shortfall in that same timeframe. Note, these figures are higher than

The digital payment era is here. Record numbers of online payments are being processed. And, nearly half the world will be using digital wallets by 2024, with transaction values to increase by almost 60 percent reaching over $9 trillion, according to the latest worldwide market study by Juniper Research. Moreover, the greater financial services sector is in the midst of a payments revolution. The increased convenience of digital solutions is driving more eCommerce engagement. However, it has also created an environment for cybercriminals that are intent on circumventing IT security measures. Payment Fraud Prevention Market Development Understanding the current digital payment threat landscape is crucial to the development of reinforced protections while keeping fintech innovation clear of exploitation by organized criminals. Organizations with commercial transactions that are dependent on eCommerce -- such as airline ticketing, money transfer and banking services -- will cumula

Fixed wireless broadband communication services based on Long Term Evolution (LTE) technology have been deployed globally, focused on areas with a poor wireline network infrastructure. Now, 5G wireless technology could open more opportunities for the fixed wireless broadband segment. As mobile network operators continue to deploy 5G network infrastructure, the commercial launch of 5G fixed wireless broadband services will accelerate in the next few years. This will ultimately drive the 5G fixed wireless Consumer Premise Equipment (CPE) market. ABI Research forecasts that shipments of 5G fixed wireless broadband CPE will reach more than 2 million units in 2020. 5G Broadband Market Development 5G fixed wireless access (FWA) delivers several benefits to both telecom network operators and consumers. The deployment of 5G fixed wireless broadband networks in place of last-mile fiber connectivity will save costs and time to install fiber-optic lines while providing Gigabit capacity b