Digital Lifescapes

Unlike traditional mobile communication ecosystems, an emerging market will be defined by the entrance of a new category of service providers, satellite vendors. These vendors will work with telecom network operators to deploy Non-Terrestrial Networks (NTNs) that are utilized alongside terrestrial networks. They are a joint development between terrestrial network operators and satellite vendors. In the future, NTNs will integrate directly with satellite-based networks to provide combined connectivity services. 5G Satellite Network Market Development According to the latest worldwide market study by Juniper Research, network operators will generate $17 billion of additional revenue from Third-generation Partnership Project (3GPP) compliant 5G satellite networks between 2024 and 2030. Juniper has urged terrestrial network operators to sign partnerships with Satellite Network Operators (SNOs) which will enable operators to launch monetizable satellite-based 5G services to their subscriber...

Generative AI (GenAI) has captured the imagination of business leaders and IT decision-makers around the world, and many are seeking information and guidance as they begin their journey. Artificial Intelligence (AI) spending in Europe will reach $34.2 billion in 2023 -- that's 20.6 percent of the worldwide AI market, according to the latest global study by International Data Corporation (IDC). AI investment in Europe will post a 29.6 percent compound annual growth rate (CAGR) between 2022 and 2027, slightly higher than the worldwide CAGR of 26.9 percent for the same period, with spending expected to exceed $96.1 billion in 2027. Enterprise AI Market Development Enterprise AI solutions are becoming increasingly widespread, driven by operational efficiency and IT operational optimization needs, as well as to provide improved customer experiences. IDC identified augmented threat intelligence and prevention systems, together with augmented fraud analysis and investigation, as prevalen...

The demand for high-performance connectivity is reaching new highs in the 5G wireless era. Annual data traffic from the top 30 countries is forecast to grow from almost 1,100 exabytes in 2022 to over 4,000 exabytes in 2027 -- with 5G making up ~60 percent of total data traffic in 2027. Based on the higher data throughput and lower latency required by 5G networks, backhaul or transport solutions must also adapt to meet the increased requirements needed by advanced cellular technology. While fiber-optic links remain a preferred choice for 5G network backhaul, microwave technology is still seen as a key component in many 5G networks due to its lower deployment costs and ability to be deployed in areas where fiber deployment is difficult. Wireless Backhaul Market Development Additionally, wireless backhaul deployments can also be used to complement fiber backhaul deployments by providing increased resiliency. According to the latest worldwide market study by ABI Research, the total number ...

Robotics have become the cornerstone of modern manufacturing, revolutionizing many industries across the globe. The applications span from automating repetitive tasks to enhancing precision and efficiency in complex operations. With the relentless pursuit of operational excellence, and the increasing need for production agility and cost-effectiveness, the demand for industrial robots continues to surge. Based on current estimates, there are already well over three million industrial robots installed worldwide, and the pace of installation is increasing rapidly. Industrial Robotics Market Development Moreover, robotics use cases are proliferating from shelf stacking, to cleaning, and various forms of manufacturing. Robots are important to economic growth, as nations struggle with labor shortages and aging populations. Against this growing applications backdrop, the robotics market is forecast to reach $218 billion by 2030, according to the latest worldwide study by GlobalData. Numerous ...

The cost of legacy Marketing Technology (Martech) automation is rising. The number of isolated systems is growing, and the benefits are questionable. Marketers are now struggling to justify the expense, when they cannot demonstrate a compelling ROI. Chief Marketing Officers (CMOs) are under pressure from their C-suite to reassess their investment in legacy automation and consider alternative solutions that will deliver net-new digital growth results. Marketing Automation Market Development Sixty-three percent of marketing leaders are already planning to invest in Generative AI solutions in the next 24 months, according to the latest worldwide market study by Gartner. Slightly more than half of Gartner survey respondents (56 percent) see greater reward than risk in the adoption of modern Generative AI systems. The Gartner survey of 405 marketing leaders revealed the user utilization of their organization's overall current Martech stack’s capability has dropped to just 33 percent on ...

Protecting payment data is integral to the security of the digital payments ecosystem. In an increasingly interconnected world, with a growing number of payment options, the need for strong security solutions is clear. With so many payment methods now in use, the need to ensure that consumer data is protected across all channels is growing. One of the core concerns for many forms of data protection is Payment Card Industry Data Security Standards compliance. Network Tokenization is a technology that replaces payment card data with a network-issued token and unique transaction cryptograms. The technology reduces the potential for fraud, improves the merchant and consumer experience, increases approval rates, and reduces overall transaction costs. Network Tokenization Market Development According to the latest worldwide market study by Juniper Research, they forecast substantial growth of 190 percent in network-tokenized transactions -- reaching 400 billion globally in 2028, that's u...

Most digital transformation is enabled by cloud solutions. Worldwide spending on public cloud services is forecast to reach $1.35 trillion in 2027, according to the latest worldwide market study by International Data Corporation (IDC). Although annual spending growth is expected to slow slightly over the 2023-2027 forecast period, the market is forecast to achieve a five-year compound annual growth rate (CAGR) of 19.9 percent. "Cloud now dominates tech spending across infrastructure, platforms, and applications," said Eileen Smith, vice president at IDC . Public Cloud Services Market Development IDC believes that most organizations have adopted the public cloud as a cost-effective platform for hosting enterprise applications, and for developing and deploying customer-facing solutions. Looking forward, the cloud computing model remains well positioned to serve customer needs for innovation in application development and deployment -- including as data, artificial intelligence ...

The modern wearables market began in the 1960s with the development of calculator watches and other electronic devices that could be worn on the body. The market has grown, driven by the increasing popularity of fitness trackers, smartwatches, and other devices that can track our health and fitness, provide notifications, and control our smart home devices. Wearable device demand growth declined to 14.6 percent in 2022 from 27.7 percent year-over-year in 2021 due to the economic slowdown and reduced spending after the peak of the COVID pandemic. Wearables Market Development This trend persisted in the first half of 2023, as longer replacement cycles and a lack of compelling features suppressed demand. The overall wearables market will rebound, reaching 689.33 million shipments by the end of 2028, with a CAGR of 11.3 percent between 2023 and 2028, according to the latest study by ABI Research. In 2023, the wearable market is projected to grow by approximately 10.2 percent, with shipment...

Across the globe, government regulators are eager to contain the influence of Big Tech for a number of reasons that pose a significant threat to democracy and the security of a civil society. These include concerns about the companies' market power, their ability to stifle competition, their impact on privacy and data protection, and their role in spreading misinformation.  Regulators are also concerned about the power that Big Tech companies have over their citizens' lives, as they control the information we see and the way we interact with the online economy. Big Tech Global Market Development Over the next few years, regulators will crackdown on some of the world’s biggest tech companies -- including Amazon, Google, Meta, X (Twitter), Alibaba, and Tencent -- according to the latest worldwide market study by GlobalData. The insightful GlobalData survey findings predict that regulators will pursue the most influential Big Tech companies in 12 key regulatory arenas. Those inclu...

The Chief Information Officer (CIO) and/or the Chief Technology Officer (CTO) will guide Generative AI initiatives within the large enterprise C-Suite. They may already have the technical expertise and experience to understand the capabilities and limitations of Gen AI. They also have the authority and budget to make the necessary investments in infrastructure and talent to support Gen AI initiatives. Enterprise AI infrastructure is proven to be expensive to build, operate and maintain. That's why public cloud service provider solutions are often used for new AI use cases. AI Semiconductor Market Development Semiconductors designed to execute Artificial Intelligence (AI) workloads will represent a $53.4 billion revenue opportunity for the global semiconductor industry in 2023, an increase of 20.9 percent from 2022, according to the latest worldwide market study by Gartner. "The developments in generative AI and the increasing use of a wide range AI-based applications in data c...

Credit scoring is a method that lenders use to predict the probability a borrower or counter-party will default on loans, or incur additional charges for repayment -- also known as measuring credit worthiness. The method is a key tool in making credit affordable for individuals and businesses. It links credit products to risk potential, connecting borrowers to secondary capital markets and increasing the amount of funds available. This securing process establishes risk predictability dependent on a number of factors, determined by financial indicators and other publicly available information reported by the credit bureaus. Credit Score Market Development According to the latest worldwide market study by Juniper Research, they now forecast credit scoring services will grow by 67 percent to $44 billion by 2028. Juniper anticipates that emerging markets will experience the greatest growth -- projecting the African & Middle Eastern region to grow by 117 percent over the forecast period...

The enterprise demand for quantum computing is still in its early stages, growing slowly. As the technology becomes more usable, we may see demand evolve beyond scientific applications. The global quantum computing market is forecast to grow from $1.1 billion in 2022 to $7.6 billion in 2027, according to the latest worldwide market study by International Data Corporation (IDC). That's a five-year compound annual growth rate (CAGR) of 48.1 percent. The forecast includes base Quantum Computing as a Service, as well as enabling and adjacent Quantum Computing as a Service. However, this updated forecast is considerably lower than IDC's previous quantum computing forecast, which was published in 2021, due to lower demand globally. Quantum Computing Market Development In the interim, customer spend for quantum computing has been negatively impacted by several factors, including: slower than expected advances in quantum hardware development, which have delayed potential return on inve...

In the manufacturing industry, cloud computing can help leaders improve their production efficiency by providing them with real-time data about their operations. This has gained the attention of the C-suite. Total forecast Industrial Cloud platform revenue in manufacturing will surpass $300 billion by 2033 with a CAGR of 22.57 percent, driven by solution providers enhancing platform interoperability while expanding partner ecosystems for application development. ABI Research found the cloud computing manufacturing market will grow over the next decade due to the adoption of new architectural frameworks that enhance data extraction and interoperability for manufacturers looking to maximize utility from their data. Industrial Cloud Computing Market Development "Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers. The large initial upfront cost of purchasing, setting up, and maintaining these servers is ...

Enterprise leaders with large customer care organizations are exploring Artificial Intelligence (AI) applications to improve their online customer experience, increase operational efficiency, and reduce costs to improve profitability. Trained AI can be used to automate tasks, such as answering routine questions, freeing up contact center agents to focus on more complex inquiries. AI can also be applied to personalize the customer experience by recommending new offerings. Additionally, AI can be deployed to analyze vast amounts of existing customer data to identify support trends and patterns, which can be used to improve the overall customer experience. Customer Care AI Market Development Worldwide Contact Center (CC) and Conversational AI, including virtual assistant end-user spending is projected to total $18.6 billion in 2023 -- that's an increase of 16.2 percent from 2022, according to the latest market study by Gartner. "Near-term investment growth rates for CC and CC Con...

Banks that adopt Artificial Intelligence (AI) to enable better customer success and business experience are moving towards a Banking-as-a-Platform (BaaP) operating model to fuel new digital revenue growth. The main strategic goal of a Platform banking business model is to become involved in strategic Fintech partnerships which can improve their product offering for both retail and corporate clients. Each platform is largely self-contained in producing business and technology outcomes, and autonomous in prioritizing its work to meet growth goals and clearly defined areas of specialization. BaaP Market Development According to the latest worldwide market study by Juniper Research , global revenue from BaaP services will increase to $49 billion globally in 2028 -- that's up from $4 billion in 2023. BaaP can help traditional banks regain their competitive edge against NeoBanks. Through collaboration with innovative vendors, traditional banks can offer new services from partners, includ...

Legacy on-premises IT software is expensive to maintain and upgrade. It can also be difficult to scale and manage, especially as businesses grow and evolve. Besides, legacy software vendors often lock customers into long-term contracts, making it difficult to switch to a more cost-effective solution. Cloud-based software is more scalable and cost-effective than legacy on-premises software. It's also easier to manage and upgrade, and there are no long-term contracts. As a result, large enterprise CEOs are eager to free themselves from the clutches of high-cost IT software vendors and move to the cloud. Worldwide revenue for enterprise applications software will reach $483.1 billion in 2027 with a five-year compound annual growth rate (CAGR) of 9.6 percent, according to the latest market study by International Data Corporation (IDC). Enterprise Software Market Development Nearly all this forecast growth will come from ongoing investments in public cloud software, which is expected to...

Artificial Intelligence (AI) is a powerful tool to drive digital business growth, make better decisions, and personalize offerings to customers. As a result, forward-thinking CEOs are now actively pursuing AI investments to gain a competitive advantage. Generative AI apps originated with tools such as ChatGPT and Stable Diffusion. According to the latest worldwide market study by ABI Research, Generative AI is forecast to add more than $450 billion to the enterprise market across twelve different vertical industries over the next seven years. Gen AI already has hundreds of compelling use cases across these enterprise verticals. But accuracy, performance, and enterprise readiness will mean that use cases will come in three distinct waves. Generative Artificial Intelligence Market Development "Content-heavy verticals like marketing and education are already seeing disruption across a range of job roles in the first wave of adoption," said Reece Hayden, senior analyst at ABI Res...

Enterprise IT is no longer a cost center. It is a strategic enabler of business growth. More senior executives are realigning their IT budgets to focus on growth initiatives. By reinvesting IT budget savings, they can ensure that their organizations are well-positioned to succeed in the future. Growth remains the top strategic business priority for both CFOs and CEOs, according to the latest worldwide market study by Gartner. Forty-five percent of CEOs surveyed ranked growth in their top 3 strategic priorities, down from 53 percent in 2022, while 62 percent of CFOs put it in their top 3 -- that's up from 59 percent in 2022. Enterprise Digital Technology Market Development   While CFOs and CEOs agree on growth as their top priority, their emphasis on this and other priorities differ, according to the Gartner survey of CEOs, CFOs, and other senior executive business leaders. For example, the CFOs’ second top priority is corporate action such as M&A and restructuring (41 percent),...

eCommerce is a major growth engine of the Global Networked Economy. It experienced an economic boost as a result of the COVID-19 pandemic. At the same time, the continued shift of commercial and consumer transactions has contributed to even greater upward momentum. There are several trends that are driving the growth of global eCommerce. These include the rise of social commerce, the increasing importance of mobile commerce, and the growing popularity of cross-border shopping. Global eCommerce Market Development Social commerce is enabled by the use of social media platforms to sell products and services. This trend is growing rapidly, as more people are using the channel to discover, learn about and consider new offerings. Mobile commerce is the use of mobile devices to shop for new products and services online. This trend is also growing rapidly, as more people are using their smartphones and tablets to shop for a variety of items and complete purchase transactions. Cross-border shop...

Many CEOs continue to invest in enterprise software to enable digital business transformation. The benefits include improving employee productivity and efficiency, gaining a competitive advantage, staying ahead of the competition, and improving customer service. According to the latest market study by International Data Corporation (IDC), the European enterprise software market grew by 13.1 percent year-on-year in 2022, despite economic turbulence and ongoing global instability. IDC claims that this is the highest growth rate in the prior 20 years, further demonstrating the resiliency of demand for digital business applications software in the face of macroeconomic volatility. Enterprise Software Market Development The growth was primarily driven by the increased price of software licenses, customers locked in with existing partners that were unable to cancel SaaS subscriptions, and contracts signed for longer time periods than was standard in previous years. According to IDC’s researc...