Digital Lifescapes

The digital workplace solutions market has been on the rise in recent years as many large enterprise organizations have embraced hybrid working and remote work models. Solutions like Unified Endpoint Management (UEM), Desktop as a Service (DaaS), and Digital Employee Experience (DEX) tools have enabled companies to support their distributed workforce and enhance employee productivity.   Digital Workplace Market Development However, a new study from Gartner reveals that the digital workplace is about to play an even bigger role as companies turn their focus toward Environmental, Social, and Governance ( ESG ) initiatives. According to Gartner, 80 percent of digital workplace and IT leaders will integrate their tools with ESG management and reporting solutions by 2027 -- that's up from less than 5 percent today. This expected rapid convergence is being driven by growing regulatory requirements around ESG disclosure, as well as rising CEO and leadership prioritization of environ...

Within the C-suite of forward-thinking organizations, something remarkable is happening. More executive leaders are now focused on an inspirational alternative to the legacy status quo "Return to Normal" mindset. According to the latest market study by IDC, Asia Pacific excluding Japan (APeJ) "Future of Work" spending is forecast to grow at a CAGR of 18.4 percent and reach $196.2 billion by 2026. IDC expects APeJ FoW spending to grow at a year-over-year rate of 19.9 percent in 2023 compared to 21.5 percent in 2022. Despite the slowdown of the growth rate, the total spending of the market continues to increase over the forecast period. Future of Work Market Development IDC defines the Future of Work (FoW) as a fundamental change to the work model to one that fosters human-machine collaboration, enables new skills and worker experiences, and supports a re-imagined physical workplace and border-less digital workspace. This IDC market forecast presents spending forecast...

Digital identity combined with security, privacy, and data management are interrelated requirements, and in some cases, they are indistinct. In the U.S. market, digital identity is described as the online persona of a human subject. The term "persona" means an individual who can present themselves in a variety of ways online. However, the definition varies between countries. This description is further complicated by the current multi-use ecosystem of digital identity. Digital Identity Market Development According to the latest worldwide market study by Juniper Research, the number of digital identity applications in use will exceed 4.1 billion globally by 2027 -- that's rising from 2.3 billion in 2023. This represents a growth of 82 percent over the next four years. The increase will be driven by the use of government-backed digital identities to replace physical identity documents as a source of verification for third-party apps, such as banking and financial services. ...

Many senior executives are taking a proactive approach to digital business transformation in order to achieve their strategic goals. Delivering revenue growth and profitability is now imperative for every function, including Human Resources (HR). The top 3 priority HR technologies this year are skills management, learning experience platforms, and internal talent marketplaces, according to the latest worldwide market study by Gartner. "With a tumultuous global economy, HR technology leaders face a balancing act in 2023," said Sam Grinter, director at Gartner . "Leaders must anticipate greater levels of accountability and demand for measurable outcomes to justify new technology investments." HR Transformation Market Development Forty-four percent of HR leaders report driving better business outcomes is their number one strategic priority for HR technology transformation over the next three years. Growth in headcount and skills (26 percent) and cost optimization (17 p...

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...

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...

While the consumer metaverse growth potential has attracted much of the media attention, it's the commercial apps growth trajectory that has gained the focus of savvy IT vendors. The enterprise metaverse opportunity  -- including immersive collaboration, digital twin, and simulation software and services revenue -- will approach $60 billion in revenue by 2030. Additional revenue from the augmented and virtual reality market would add billions in new growth for software and services. Enterprise Metaverse Market Development "The metaverse, being a long-term vision, means the buildup to this future is just as intriguing as the final product, and in this regard, it is the enterprise markets that are leading ahead of the consumer segment," said Michael Inouye, principal analyst at ABI Research . For example, efforts on the standardization front are being driven through the enterprise space. The Digital Twin Consortium directly targets industrial, while the Metaverse Standards ...

Forward-thinking retailers now have a bright future. In contrast, those that failed to enhance their business model via digital transformation have struggled, declined, and their assets were eventually liquidated. The key difference between these two business outcomes is applied strategic foresight. Even as the world continues to emerge from a global pandemic, retail is growing at levels not seen in the last two decades. Retail sales grew by 7 percent in 2020 and by over 14 percent in 2021, which is in stark contrast to the 3.7 percent annual growth between 2010 and 2019. The increased demand for retail has put a strain on supply chains and retail operations worldwide. As a result, retailers and stakeholders are turning to automation solutions such as mobile robotics for operational ease. Retail Transformation Market Development According to the latest market study by ABI Research, worldwide commercial robot revenue in retail stores will have a Compounded Annual Growth Rate (CAGR) of o...

Across the globe, business leaders and government policymakers are exploring applications for human augmentation. These enhancements are described as the natural, artificial, or technological alteration of the human body in order to improve physical or mental capabilities. The European human augmentation market -- including augmented and virtual reality, biometrics, exoskeletons, wearables, affective computing, and other human augmentation technologies -- will reach over $62 billion by the end of 2022 and more than $100 billion by 2026. According to the latest market study by International Data Corporation (IDC), businesses are increasing their investments in these technologies, and the overall human augmentation market will grow 37 percent in Europe by the end of 2022. Human Augmentation Market Development Companies are adopting a digital-first model and adapting to new realities and work policies that require support for use cases such as remote work collaboration, virtualized presen...

More organizations across the globe are investing in business technology that streamlines enterprise workflow. The quest for business process automation is gaining new momentum, due in part to the increased demand for digital transformation. Global robotic process automation (RPA) software end-user spending is projected to reach $2.9 billion in 2022 -- that's an increase of 19.5 percent from 2021, according to the latest market study by Gartner. "By achieving a growth rate of 31 percent in 2021, the RPA market grew well above the average worldwide software market growth rate of 16 percent,” said Cathy Tornbohm, VP analyst at Gartner .  Robotic Process Automation Market Development Organizations are leveraging RPA to accelerate business process automation initiatives and digital transformation plans, with the anticipated intent to improve their operational efficiency. Although growing at a slower pace than in previous years, the worldwide RPA software market is projected to con...

Looking ahead, many Chief Executive Officers (CEOs) continue to selectively invest in new strategic digital transformation projects that enable a significant competitive advantage. Some additional investments may go towards improving existing IT infrastructure and operations.  Worldwide IT spending is now projected to total $4.5 trillion in 2022 -- that's an increase of 3 percent from 2021, according to the latest updated estimate by Gartner. For now, most CIOs will be relieved that their budget is safe from major cuts. While IT spending is expected to grow in 2022, it will be at a slower pace than in 2021 -- partly due to a 5 percent cutback on spending for personal computers, media tablets, and printers. Digital Transformation Market Development "Central banks around the world are focusing on fighting inflation, with overall inflation rates expected to be reduced through the end of 2023. However, the current levels of volatility being seen in both inflation and currency exch...

Across European nations, more CIOs and CTOs are investing in public cloud services that become the essential foundation for the design and delivery of innovative digital transformation projects. Public cloud computing spending in Europe will reach $113 billion in 2022 and will double to $239 billion by 2026, growing at a 22 percent 5-year CAGR, according to the latest market study by International Data Corporation (IDC). Investments in Software-as-a-Service (SaaS) will continue to lead most of the spending in Public Cloud in Europe in 2022, but Platform-as-a-Service (PaaS) will be the fastest-growing segment. In fact, PaaS enables digital business deployment via the quick testing and production of new software applications. Public Cloud Market Development Professional services, banking, and discrete manufacturing will be among the top spenders in public cloud services, absorbing almost 60 percent of the overall public cloud services spend in 2022.  Human-centric industries are adju...

Urban areas within cities account for more than 50 percent of Earth's population and are estimated to be responsible for more than 70 percent of global carbon emissions. To combat this, decarbonization strategies are being employed by forward-thinking city leaders around the globe. According to the latest worldwide market study by ABI Research, smart city technologies will be a critical asset for this transformation. Municipal decarbonization will be a component of local government efforts for Environmental, Social and Governance (ESG) policies. Government ESG Market Development "The principles behind smart city technologies, such as increasing efficiency, better data management, and better decision making are also essential for decarbonization and reaching net-zero goals," said  Dominique Bonte, vice president at ABI Research . Technologies such as digital twins, smart street lights, micro-grids, computer vision, smart city management platforms, and micro-mobility are al...

Government leaders must grasp new opportunities resulting from the global COVID-19 pandemic and economic recovery, changing political demands, and digital transformation expectations. Thinking ahead, CIOs should design new flexible business, operating, and talent retention models. Meanwhile, worldwide government IT spending is now forecast to total $565.7 billion in 2022 -- that's an increase of 5 percent from 2021, according to the latest survey and global market study by Gartner. "The last few years of enduring pandemic challenges have mobilized a wave of digital transformation activities in government organizations across the world," said Daniel Snyder, director analyst at Gartner . Government IT Services Market Development Gartner analysts believe that governments are executing innovative activities by harnessing business technology to streamline digital services, advance automation processes, and evolve citizen services. In 2022, government IT spending is forecast to...

Your Digital Transformation depends on strategic investment in business technology that drives profitability and growth. Given the current global economic outlook, will your Chief Financial Officer (CFO) deny your next request for IT project funding? Think again. Seventy-eight percent of CFOs plan to maintain or increase their enterprise-wide digital investments in the next two years, according to the latest worldwide market study by Gartner. The findings come even as CFOs indicate they are planning cost reductions in other areas of the business if inflation persists this year. Digital Transformation Market Development "Companies that drive the right digital investments have 2.7x higher customer retention, 1.6x higher customer satisfaction rates, and 1.9x higher average order value," said Alexander Bant, chief of finance research at Gartner . Leading digital-enabled companies are also 3x more likely to achieve above-industry revenue and margin growth. Gartner has also found t...

The forward-looking CEO's commitment to ongoing investment in Information Technology (IT) is persistent. Worldwide IT spending is forecast to total $4.4 trillion in 2022 -- that's an increase of 4 percent from 2021, according to the latest worldwide market study by Gartner, Inc.   "This year is proving to be one of the noisiest years on record for CIOs," said John-David Lovelock, vice president at Gartner . Regardless, digital transformation remains a high priority across the globe. Geopolitical disruption, inflation, currency fluctuations, and supply chain challenges are among the many market volatility factors vying for attention, yet contrary to what Gartner saw at the start of 2020, enterprise CIOs are accelerating IT investments in 2022. Digital Transformation Market Development As a result, purchasing and investing preferences will be focused on areas including data analytics, cloud computing, seamless customer experiences, and IT security. Inflation impacts on ...

Enterprise network management complexity grows as more devices require connectivity from more locations. Case in point, the remote working phenomena has driven demand for software-defined solutions to reduce networking costs, improve scalability, and enable the integration of security. Although the emergence of Secure Access Service Edge (SASE) -- which integrates SD-WAN with edge security -- has caused some vendors to rethink their solutions, market opportunity remains across the software-defined networking sector for innovative vendors to explore vertical industry demand. Established networking vendors already lead the SD-WAN market. Next, the cloud-native innovators will drive growth by also offering solutions that shift end-user computing and integrated security to the cloud, enabling CIOs and CTOs to develop versatile enterprise networking strategies. SD-WAN Market Development Cloud-based solution providers will become increasingly important, given the benefits that shifting netwo...

This year may very well be another period of unprecedented challenges and opportunities. In 2022, several highly anticipated technology-related advancements will NOT happen, according to the predictions by ABI Research. Their analysts identify many trends that will shape the technology market and some others that, although attracting huge amounts of pundit speculation and commentary, are less likely to advance rapidly over the next twelve months. "The fallout from COVID-19 prevention measures, the process of transitioning from pandemic to endemic disease, and global political tensions weigh heavily on the coming year's fortunes," said Stuart Carlaw, chief research officer at ABI Research . What Won’t Happen in 2022? Despite all the headlines and investments, the metaverse will not arrive in 2022 or, for that matter, within the typical 5-year forecast window. The metaverse is still more of a buzzword and vision than a fully-fledged end goal with a clearly defined arrival d...

Across the globe, government agency leaders continue to drive digital transformation initiatives. As a result, there is a growing demand for new digital experience development talent to help drive much-needed changes in online service delivery. By 2023, 85 percent of governments without a Total Experience (TX) strategy will fail to successfully transform government services, according to the latest market study by Gartner. Governments that focus on citizen and employee experience initiatives separately will miss out on potential synergies to effectively transform their services. "Over the past two years, most governments increased their investments in digital initiatives to respond to pandemic-induced operations disruptions. However, many digital initiatives are still occurring in silos," said Apeksha Kaushik, principal research analyst at Gartner . Multi-Experience Market Development Gartner believes that governments must move from a siloed approach to a cohesive strategy en...

The COVID-19 pandemic created unprecedented demand for emergency care. Many healthcare sector leaders would like to be at the forefront of tech-enabled medical caregiving. However, the fragmented way that hospitals acquire solutions can introduce cost, time, and resource inefficiencies that hinder care delivery. As a result, some healthcare providers have embraced the concept of the ‘Smart Hospital’ as a means of optimizing multiple aspects of their operational performance. The current model isn't perfect, and the implementation can present challenges -- such as cybersecurity, interoperability, and solution execution. Smart Hospital Market Development According to the latest worldwide market study by Juniper Research, the smart hospitals market will be worth $59 billion by 2026 -- that's up from $29 billion in 2021, representing an average annual growth of 15 percent. The concept of the smart hospital includes healthcare providers leveraging advanced analytics, connected device...