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Showing posts from December, 2022

Low-Code Software Tools Fuel Transformation

Many CEOs have shared their concern that the digital transformation apps backlog within their organization is causing delays in planned growth initiatives. Therefore, they're investing in new approaches to the challenge. The worldwide market for low-code software development technologies is forecast to total $26.9 billion in 2023 -- that's an increase of 19.6 percent from 2022, according to the latest worldwide market study by Gartner. "Business Technologist" roles and a growing number of hyper-automation initiatives will be the key drivers accelerating the adoption of low-code software technologies through 2026. Low-Code Software Market Development "Organizations are increasingly turning to low-code development technologies to fulfill growing demands for speed application delivery and highly customized automation workflows," said Varsha Mehta, senior research specialist at Gartner . Equipping both professional IT developers and non-IT practitioners -- e.g.

Asia-Pacific Multi-Cloud Computing Apps Growth

The senior executive's quest for meaningful and substantive digital business transformation in the Asia-Pacific region has gained new momentum in 2022. Expectations for digital business model growth are fueling the demand for innovation. Business leaders are considering the next advancement of cloud computing adoption in terms of technology and services to reap benefits beyond cost reduction and IT team productivity, according to the latest market study by International Data Corporation (IDC). Multi-Cloud Market Development "With the multi-cloud environment becoming more manageable, organizations are loving the openness towards having workload portability and getting the best out of their cloud strategy without worrying about challenges of complexities, vendor lock-in, data privacy or governance," said Shahnawas Latiff, research manager at IDC . Organizations in the Asia-Pacific region are already experiencing a transformation from a technology and services implementation

Global Green Tech Investments for Climate Change

Green public policy is about the commitment to sustainability and environmental management. Having a formal policy shows the world that managing environmental issues is a high priority to address climate change. The global public and private investment levels in green urban infrastructure are expected to increase from $606 billion in 2022 to $978 billion in 2030, according to the latest worldwide market study by ABI Research. Growth will evolve across a wide range of Green assets, including city parks, urban forests, blue spaces such as ponds and lakes, rooftop gardens, green walls and buildings, and pedestrianized green streets as part of new urban concepts. Green Technology Market Development Example projects include the Green makeover of the Champs Élysées in Paris for the 2024 Olympics (€250 million), the redevelopment of the former Athens International Airport into the Metropolitan Park and Coastal Front (€8 billion), and the NEOM Regreening and Saudi Green Initiatives ($187 billi

Government IT Spending Gains New Momentum

Many government CIOs often struggle with legacy system issues. Their quest for digital business transformation may be the most highly motivated, compared with their peer group in private business. Meanwhile, forward-thinking government leaders are planning to support the selective investment in business technology that enables more digital government services. It has become a strategic priority. Worldwide government information technology (IT) spending is forecast to total $588.9 billion in 2023 -- that's an increase of 6.8 percent from 2022, according to the latest global market study by Gartner. Government Technology Market Development "Government organizations are continuing to modernize legacy IT and invest in initiatives that improve access to digital services as constituents increasingly demand experiences that are equivalent to online customer interactions in the private sector," said Daniel Snyder, director analyst at Gartner . The total experience (TX) framework,

The Digital Transformation of Electric Utilities

The electric utility sector has evolved and the market has become increasingly complex. Concerns around how energy is created and utilized, coupled with climate change, nudged suppliers toward more renewable energy. Problems in the global energy supply chain have underlined the increasing necessity of renewables, such as solar and wind power, translating into the advent of alternative energy generation. However, renewables do not generate electricity continuously, and therefore these systems must be automated, plus the energy generated must be stored and distributed more efficiently. Smart Grid Market Development According to the latest worldwide market study by Juniper Research, cost savings from Smart Grid deployments will exceed $125 billion globally in 2027 -- that's increasing from just over $33 billion in 2022. This 279 percent growth will be driven by rising energy prices, with smart grid technologies playing a critical role in increasing electric network efficiency and opti

Why the Future Workspace Isn't a Place

The knowledge worker and frontline employee experience must adapt to support evolving work models. That includes a digital workspace solution, and perhaps a reimagined physical workplace. Workflow that is performed online will be augmented and optimized. Moreover, the format and design of enterprise office spaces are likely to be significantly transformed. It's inevitable. Traditional leaders who expected a return-to-normal environment have been greatly disappointed by the abandonment of inflexible workplaces. In contrast, many employees welcome the change.  Future Workspace Market Development Around 25 percent of organizations in the Asia-Pacific region are already redesigning their offices, and 70 percent will do so in an 18-month period, according to the latest market study by International Data Corporation (IDC). Why invest now -- given the current economic outlook? Organizations are redesigning their offices to bring employees back onsite and, at the same time, attempt to impr

Work from Home Demand for Smart Technologies

A reduction in office occupancy and lease terminations, due to the growth of remote work, has had an inverse effect on consumer spending. As an example, despite the economic issues in some markets, spending on smart home devices grew in 2022. According to the latest market study by ABI Research, by the end of the year, smart home hardware revenues  -- including devices, hubs, and controllers -- will surpass $30 billion worldwide, that's up by 15 percent over 2021. Smart Home Market Development According to the ABI assessment, driving investments in the face of a sharper economic reality is a growing expectation among consumers for smart home capabilities that deliver greater value. "The COVID pandemic-induced emphasis on home improvement boosted the Smart Home industry," said Jonathan Collins, research director at ABI Research . The Work-from-Home phenomenon moved into a more mainstream awareness that continues to bolster spending as consumers look to replace or improve d

The Worldwide Semiconductor Demand Outlook

Supply chain resolved, or overcapacity, what's the issue? Global semiconductor revenue is projected to decline by 3.6 percent in 2023, according to the latest worldwide market study by Gartner. In 2022, the market is on pace to grow 4 percent and total $618 billion. Moreover, global semiconductor revenue is forecast to total $596 billion in 2023 -- that's down from the previous forecast of $623 billion. "The short-term outlook for semiconductor revenue has worsened," said Richard Gordon, vice president at Gartner . "Rapid deterioration in the global economy and weakening consumer demand will negatively impact the semiconductor market in 2023." Semiconductor Technology Market Development Currently, the semiconductor market is polarized between consumer-driven markets and enterprise-driven markets. Weakness in the consumer-driven markets is being driven largely by the decline in disposable income caused by rising inflation and loan interest rates. Also, it'