Digital transformation is on the priority list for today’s business leaders. In the current business scenario, innovation, speed-to-market and customer satisfaction are the keys to business success. Digital Transformation paves the path to achieving these goals. In simple words, Digital Transformation is the utilization of Digital capabilities for business transformation. The IT leaders need to stay updated on the latest technology trends to strategize their Digital Transformation journey. These cutting-edge technologies act as the accelerators for business transformation initiatives.
So, what are some of the leading technology trends in 2018? Here goes the list:
As the number of IoT devices is increasing, the amount of data generated is also sky-rocketing. This demands for faster data processing methods like Edge Computing, that minimize data latency and increase data quality. When data is processed near the source of generation (edge) instead of taking it all up to the centralized cloud storage, it improves efficiency and minimizes cost & time for business transformation. One of the top market intelligence firms, IDC, predicts the spend on edge infrastructure will reach up to 18% of the total IoT infrastructure spend by 2020.
According to a new research report by BIS research, the mixed reality market was estimated to be $46.8 million in 2017 and is estimated to reach $3.68 billion by 2025 at a CAGR of 72% from 2018 to 2025. Mixed reality is a blend of both the digital and physical worlds to provide a more immersive experience for the customers. The widespread adoption of mixed reality for various verticals is a definite trigger factor for Digital Transformation.
With 25 million wallets already, Blockchain is building a strong community of digital currency supporters. If earlier it was merely a cryptocurrency as Bitcoin, then the comings years will witness the evolution of Blockchain into a broader domain. Pioneers such as Apple has already shown their interest in the leading technology. Although it was initially applied to the fintech industry, the technology will be seen widely used in the healthcare, hospitality, and entertainment industries.
IDC estimates that the global revenue from big data will reach US$203 billion by 2020. Informed decision making with Big Data analytics will lead to insight-driven business transformation initiatives. It is of no doubt that 2018 is the ‘happening year’ when almost all enterprises will adopt Big Data into their Digital Transformation strategy for business intelligence.
Gartner predicts that in the coming years every app will have some element of Artificial Intelligence (AI) and Machine Learning (ML) incorporated into it at a certain level. An essence of AI will be seen in a variety of applications, ranging from the healthcare to the agricultural industries. These intelligent apps will redefine the software markets and even transform the nature of work & business among the people. AI will add value to the business processes and contribute largely to Digital Transformation.
According to Forrester, only 27% of current businesses have a coherent digital strategy, able to define in detail how the company creates value for its customers through digital business. This means a majority of the businesses are still unprepared for the upcoming revolution. Either they have not yet thought about Digital Transformation or they do not have the capabilities. If lack of capabilities is causing hindrance to your Digital Transformation journey, then we can be your problem-solvers. SayOne has been helping enterprises with their Digital Transformation strategy for around a decade. Speak to our experts today and design your Digital Transformation journey!