Digital Lifescapes

Especially in times of crisis, technology can be the catalyst for much-needed change. The vendors that enable the Global Networked Economy have become essential to all forward-looking leaders that seek innovation as a tool to uncover new solutions to significant challenges. Medical-related industries have discovered their New Normal. The Coronavirus outbreak has proven that healthcare institutions can no longer ignore the role of Artificial Intelligence (AI) in their daily workflow. And, cognitive systems are essential components of their solutions to the current crisis. AI systems infrastructure spending in the healthcare and pharmaceutical industries is expected to increase from $463 million in 2019 to more than $2 billion over the next 5 years, according to the latest worldwide market study by ABI Research. Medical AI Apps Market Development "Artificial Intelligence is playing a key role in responding to the pandemic," said Lian Jye Su, principal analyst at ABI Res...

Given the current global economic environment, the retail market has shifted to customer convenience, forcing all surviving retailers to offer more online shopping, coupled with omnichannel payment options. Moving deeper into the digital era, retailers are now fighting for customer retention and reduced costs through new technologies, such as artificial intelligence (AI), cryptocurrencies, distributed ledger technology, internet of things (IoT) and machine-to-machine (M2M), among others. Despite these advances, the existing inhibitors to progress -- such as payment regulations, fraud and security -- must be addressed and resolved. The adequate balance between innovating and reducing pain points will help payment providers stay profitable and navigate ongoing retail transformation. While credit and debit cards continue to be the focus of online payments, innovation continues to encourage platform-integrated spending. The payment ecosystem, driven by fintech pioneers and mobile app...

Informed CEOs know that harnessing their organization's customer data with analytics can expose valuable new insights that enable business model optimization and product or service innovation. That said, the early adopter organizations have already gained a competitive advantage over their peer group. Companies that have experienced significant revenue growth collect more customer experience (CX) data than non-growth companies, according to the latest worldwide market study by Gartner. The market study found that nearly 80 percent of growth organizations use customer surveys to collect CX data, compared with just 58 percent of non-growth organizations. Customer Data Analytics Market Development "There is a clear trend among growing companies to actively collect CX data using a wide variety of tools such as surveys, usability testing, focus groups and real-time analytics," said Jessica Ekholm, vice president at Gartner . This is what Gartner's analysts call t...

According to the latest worldwide market study by IDC, spending on augmented reality and virtual reality (AR/VR) is forecast to be $3.7 billion in 2019 -- that's an increase of 34 percent from the previous year. Asia-Pacific spending on AR/VR products and services will continue this strong growth throughout the forecast period (2018-23), with a five-year compound annual growth rate of 62 percent. This growth is primarily driven by commercial industries which are going to be more than $11 billion larger than the consumer segment by the end of the forecast (2018-23). Despite this, the consumer segment (which is currently at $1.7 billion in 2019) continues to be larger than any other industry segment over the forecasted period. AR and VR Use Case Market Development The high growth in the commercial segment is primarily due to the AR/VR capability to solve complex business problems and streamline operations. The two industries that are seeing the most activities or implementati...

Many progressive CIOs and CTOs would agree, fifth-generation (5G) wireless communications have the potential to support new use cases that were not possible with earlier mobile infrastructure deployments. Moreover, 5G and edge computing technologies can transform legacy business models within several key industries, including manufacturing and associated Industry 4.0 verticals. The emerging market for 5G cellular connections in manufacturing is expected to reach $10.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 187 percent, according to the latest worldwide market study by ABI Research. 5G Core and Edge Networks Market Development "But, to capture the value at stake, ecosystem stakeholders will first need to evaluate how to measure the impact of 5G and edge deployments," said Don Alusha, senior analyst at ABI Research . "The current Industry 4.0 digitalization discourse centers around conventional financial metrics -- e.g. return on investment, ne...

Chatbots have become increasingly influential in day-to-day online life. These software applications are developed to automate a range of tasks, from simple banking transactions to answering customer care requests, and have been adopted across industries. The potential use cases for chatbots will increase with advances in artificial intelligence (AI) technology. It's likely that as AI capabilities evolve, chatbots will complete more complex tasks on behalf of a user without requiring assistance from human customer service agents. Retail Chatbot Market Development According to the latest worldwide market study by Juniper Research , consumer retail spending over chatbots will reach $142 billion by 2024 -- that's rising from $2.8 billion in 2019. This represents average annual growth of 400 percent over the next four years. The Juniper analyst findings identified the retail sector as a primary beneficiary of advances in Natural Language Understanding (NLU) technologies. Th...

The forward-thinking CIOs and CTOs have already acknowledged that Line of Business (LoB) leaders will continue to be the primary decision-makers of new or emerging business technology selection and adoption. That said, those who refuse to let go of the obsolete notion that 'Shadow IT' is a threat to their organization are likely to fail. There is no place for myopic thinking in a progressive enterprise's digital transformation agenda. Digital Talent Leadership Market Development For the past four years, the strongest demand for digital talent with artificial intelligence (AI) skills has not come from the traditional information technology (IT) department, but rather, from other business units in the organization, according to the latest worldwide market study by Gartner. Gartner data shows that although the IT department’s need for AI talent has tripled between 2015 and 2019, the number of AI jobs posted by IT is still less than half of that stemming from other busi...

Applications for the Internet of Things (IoT) in the aviation industry have evolved, as new use cases are identified. According to the latest worldwide market study by Berg Insight, the global installed base of active airport asset tracking systems was over 0.2 million units in 2019. This includes all airport asset tracking systems deployed for various motorized ground support equipment (GSE), non-motorized equipment (NME) as well as other applicable mobile airport assets such as on-road vehicles used in airport environments. Airport Asset Tracking Market Development Growing at a compound annual growth rate (CAGR) of 15.4 percent, the active installed base of airport asset tracking systems is estimated to reach close to 0.5 million units worldwide in 2024. That said, the current crisis in the aviation industry that's due to the COVID-19 pandemic will likely also slow down the airport asset tracking market in the short-term. Berg Insight nevertheless anticipates increasing...

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...

Hyperscale cloud providers are experiencing some market saturation. Vendor revenue from IT infrastructure products (server, enterprise storage, and Ethernet switch) for cloud environments, including public and private cloud, declined in the third quarter of 2019 (3Q19) as the overall IT infrastructure market continues to experience weakening sales following strong growth in 2018. The decline of 1.8 percent year-over-year was much softer than in 2Q19 as the overall spend on IT infrastructure for cloud environments reached $16.8 billion, according to the latest market study by International Data Corporation ( IDC ). As a result, IDC chose to slightly increase its forecast for total spending on cloud IT infrastructure in 2019 to $65.4 billion -- that represents a flat performance compared to 2018. Cloud IT Infrastructure Market Development  The decline in cloud IT infrastructure spending was driven by the public cloud segment, which was down 3.7 percent year over year, reachin...

Public cloud computing applications have left the telecom service providers in a marginalized position. The whole industry has always been directly affected by technology innovation and digital disruption. That said, the past 10 years have been particularly challenging for several significant reasons. The mainstream penetration of artificial intelligence (AI) and machine learning (ML) in communication services, the rise of highly customized Over-the-Top (OTT) applications, the rollout of superior connectivity modes such as 4G LTE and 5G, and the internet of things (IoT) have changed the landscape. In the face of the hyper-personalized, customer-centric and often free OTT alternatives, communication service providers (CSP) have already under growing pressure to combat declining Average Revenues per User (ARPU) -- a key growth metric that industry analysts measure. CSP AI Analytics Market Development According to the latest worldwide market study by Juniper Research, total networ...

Across the globe, the traditional legal profession is still very labor-intensive. Higher salaries and the limited use of automation has driven up the cost of performing even the most mundane routine tasks. That's going to change. The disruption has already begun. The intense pressure from senior executives on their legacy corporate legal department has pushed lawyers to consider robotic process automation (RPA), artificial intelligence (AI), machine learning and natural language processing benefits, according to the latest worldwide market study by Gartner. In fact, they now predict that law robots (or lawbots) will handle a quarter of the typical enterprise internal legal support requests by 2023. The virtual legal assistant (VLA) will be commonplace. Legal Process Automation Market Development  "While VLAs, legal chatbots, and lawbots may seem like hype, their use in legal departments can yield significant benefits," said Zack Hutto, director at Gartner . "...