Digital Lifescapes

Demand for computer servers, disk storage systems, and networking hardware deployed within an enterprise hybrid cloud environment remains strong. Moreover, the investment in non-cloud on-premises infrastructure seems assured by the CIO and CTO need to deliver superior security and compliance with IT regulatory requirements in several key industries. According to the latest worldwide market study by International Data Corporation ( IDC ), vendor revenue from sales of IT infrastructure products for cloud environments -- including public and private cloud -- declined 10.2 percent year-over-year in the second quarter of 2019 (2Q19), reaching $14.1 billion. Cloud IT Infrastructure Market Development IDC also lowered its forecast for total spending on cloud IT infrastructure in 2019 to $63.6 billion, down 4.9 percent from last quarter's forecast and changing from expected growth to a year-over-year decline of 2.1 percent. Vendor revenue from hardware infrastructure sales to publi...

As more digital technology innovations reside in software apps, and part of those software functions reside in a public cloud, the value of device-centric innovation has been eclipsed. Chances are, the device that you already have in your possession is 'good enough' to access those software-defined services. Worldwide shipments of devices -- personal computers (PCs), media tablets and mobile phones -- will decline by 3.7 percent in 2019, according to the latest worldwide market study by Gartner. Personal Device Market Development Gartner estimates there are more than 5 billion mobile phones used around the world. After years of growth, the worldwide smartphone market has reached a tipping point. Sales of smartphones will decline by 3.2 percent in 2019, which would be the worst decline the category has seen. "This is due to consumers holding onto their phones longer, given the limited attraction of new technology," said Ranjit Atwal, senior research director at...

Artificial Intelligence (AI) has been portrayed as a technology that can revolutionize the industrial manufacturing sector. The sentiment is somewhat valid, but the scenario is complex. AI in industrial manufacturing is a collection of use cases at different phases of the manufacturing process. According to the latest worldwide market study by ABI Research, the total installed base of AI-enabled devices in industrial manufacturing will reach 15.4 million in 2024 -- with a CAGR of 64.8 percent from 2019 to 2024. Artifical Intelligence Market Development "AI in industrial manufacturing is a story of edge implementation," said Lian Jye Su, principal analyst at ABI Research . "Since manufacturers are not comfortable having their data transferred to a public cloud, nearly all industrial AI training and inference workloads happen at the edge, namely on device, gateways and on-premise servers." To facilitate this, AI chipset manufacturers and server vendors have de...

Across the globe, millions of people don't have a bank account -- they're the 'unbanked' masses. Mobile Financial Services (MFS) are alternative financial instruments that allow individuals, without an account at a traditional banking institution, to engage in financial activity via their mobile device -- such as a low-cost smartphone or media tablet. Since the inception of 'mobile money' services from the telecom provider in Kenya over ten years ago, these solutions have been instrumental in enabling financial inclusion in emerging markets, where large segments of the population have been unserved, or underserved, by traditional banks. Mobile Financial Services Market Development With the ability to reach anyone who owns a mobile device and the benefit of rolling out cost-effective agent networks, MFS players have managed to fill a gap which has been a challenge for traditional financial institutions within emerging markets. According to the latest worl...

Preparing for the adoption of new technologies is challenging for many large enterprise organizations. That's why savvy CIOs and CTOs seek information and guidance from vendors that can assist them on the journey to achieve digital business transformation. Meanwhile, investment in artificial intelligence (AI) systems and services will continue on a high-growth trajectory. According to the latest worldwide market study by International Data Corporation (IDC), spending on AI systems will reach $97.9 billion in 2023 -- that's more than two and a half times the $37.5 billion that will be spent in 2019. The compound annual growth rate (CAGR) for AI in the 2018-2023 forecast period will be 28.4 percent. Artificial Intelligence Market Development "The AI market continues to grow at a steady rate in 2019 and we expect this momentum to carry forward," said David Schubmehl, research director at IDC . "The use of artificial intelligence and machine learning (ML) is oc...

More CEOs have now voiced concerns that their workforce is not ready for the implications of digital business transformation trends. Few believe that their HR team is capable of reimagining the future of work to drive high-performance across the organization. Just imagine, 45 percent of managers say they don’t feel confident in their ability to develop the skills employees need to succeed. In addition, managers lack time to coach their direct reports -- they're spending on average 9 percent of their time on skills development. Bridging the Digital Skills Gap Employee skill development challenges are particularly problematic in a multi-generational work environment. Millennials report wanting feedback 50 percent more often than other employees -- a Gartner survey found that more than 70 percent of HR executives believe that managers should get more involved in coaching employees compared with three years ago. "Today’s organizations are undergoing a digital transformatio...

Wireless communications technology continues to transform the telecom landscape. Projected growth across the smart home, wearables, beacons, healthcare, smart cities, automotive, and commercial building automation, will help accelerate the Wi-Fi and Bluetooth share of device shipments. According to the latest worldwide market study by ABI Research, Internet of Things (IoT) end markets will represent 31 percent of total Bluetooth and 27 percent of Wi-Fi device shipments in 2024 -- that's up from 13 percent and 10 percent respectively in 2018. Wireless Technology Market Development Smartphones will continue to be important markets for both Wi-Fi and Bluetooth, however, when it comes to the Bluetooth shipments, the IoT market is expected to overtake the smartphone market for the first time in 2024 as its share of the market falls to less than 30 percent. Furthermore, the share of smartphones as a proportion of Wi-Fi device shipments is also set to fall below 40 percent by 202...

With the Fintech market gaining momentum across the globe, other markets -- such as Insurtech -- are now being examined to assess the disruptive potential of digital business technology. Regulatory compliance is one such area where IT innovation can transform the sector. More than $340 billion in fines have been imposed on financial institutions in the decade since the financial crisis -- one report estimates that the total is likely to top $400 billion by 2020. Increasing requirements for transparency and growing scrutiny of ethical practices means that the cost of regulatory compliance will surely increase. With an average of 10-15 percent of employee staff dedicated to compliance, banks and insurers are spending more each year to comply with government-imposed regulatory obligations. One solution to this growing challenge is better automation. Robotic Process Automation Market Development According to the latest market study by Juniper Research , insurers will spend $634 mil...

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...

The collaborative robot (cobot) industry is advancing globally as more companies seek to lower manufacturing costs and increase the speed of production. While the established industrial robot vendors have made some progress, the pure cobot developers are creating ergonomic systems. Guided by early innovators and adopters, the collaborative robotics market will become mainstream over the next 10 years. According to the latest worldwide market study by ABI Research, the yearly revenue for cobot arms will reach $11.8 billion by 2030 -- that's an increase from $711 million in 2019. Collaborative Robot Market Development Furthermore, the total value of the collaborative market is much greater, when accounting for software-related revenues and end-of-arm tooling (EOAT) accessories. Under this broader definition of the market, the cobot ecosystem is worth just over $1 billion in 2019 and will be worth $24 billion by 2030, with a CAGR of 28.6 percent. "The prospects for the co...

Historically, the traditional insurance sector has been reluctant to change established methods. However, the relationship between insurance companies and technology vendors has evolved, as emerging Insurtech offerings disrupt the legacy insurer business model. The overall insurance market is experiencing significant upheaval, as new technology-enabled solutions impact the prior status quo. As an example, the use of price comparison websites is commonplace and other forms of customer-facing online services are widespread. However, the internal processes of loss notification, claims management and underwriting have not changed much from those used by insurers many decades ago. Therefore, savvy Insurtech vendors can help to revolutionize outmoded methods and introduce new ideas to the insurance marketplace. Insurtech Market Development That said, traditional insurers are now becoming increasingly involved within the Insurtech space, through direct investments and strategic partne...

The world of high-performance computing (HPC) will continue to evolve, as enterprise CIOs and CTOs anticipate the future demands for IT Infrastructure capable of supporting new workloads. That said, there isn't enough computing capability today to process the amount of data being created and stored, according to the latest market study by International Data Corporation (IDC). The processing power required to convert the flood of structured and unstructured data into useful and valuable insights, for a new class of digital business workloads, must now scale faster than Moore's law ever predicted. HPC Platform Market Development To address this gap, the computing industry is taking a new path that leverages alternative computing architectures like DSPs, GPUs, FPGAs for acceleration and offloading of computing tasks in order to limit the tax on the general-purpose compute architecture in the system. IDC believes these architectures are key to the enablement of artificial i...