When enterprises become digital innovation factories, software vendors need to step up their technology offerings.
Line of Business (LOB) applications or workloads determine the livelihood of enterprises and impact the success of enterprises directly. IDC…
With a rapidly growing digital economy, today’s CEOs and business leaders are currently in the middle of a seismic shift in the way businesses view and use their business technology. While companies will still consume software from technology vendors, the need to produce their own software will become increasingly essential to the success of their business.
Think about all the connected “things” you carry with you or have in your home: Smart phones, iPads, PCs, fitness watches and many other devices. Some we’ve used for years, others are part of the growing Internet of Things (IoT). We use them frequently for communicating, connecting socially, monitoring our health and fitness or conducting business. All of this data is contributing to what IDC calls the Global DataSphere. You may not realize this, but as soon as you connect anything to the internet, you establish a data exchange relationship that adds to the world’s DataSphere until the device is disconnected.
The amount of data that organizations collect and use to inform their strategies and power applications is truly astounding; IDC expects that the amount of data created in 2023 will reach over 100ZB (one trillion gigabytes) or 10 times more than the amount of data created in 2014. Organizations need to make sure that their data is secure, which is why the data protection industry is so important. Data production as a service (DPaaS) solutions are the fastest growing segments of the data protection industry.
Data is the fuel for modernizing and transforming business. While there is no shortage of data – IDC expects data to reach 175 Zettabytes by 2025 – insightful, relevant data is in much shorter supply. I experience this daily in the cloud-related inquiries I receive. In addition to generating timely and relevant insights from data, my role is also to make the data actionable for customers. This means providing the data in a more consumable format and context based on a deeper understanding of what the client needs.
Cloud, hyperscale and digital service providers already account for 20% of IT infrastructure hardware spending, with 75% of that spending from the 8 largest hyperscalers alone. Add in colocation and managed services hosting providers, plus communications service providers, and by 2023 more than 60% of infrastructure hardware spend will come from the overall service provider segment.
While commercial end-users in other industries shift an increasing proportion of their budget to IT ‘as a service’, service providers will increasingly be the driver for IT vendor strategies and product development. From the outsize impact of hyperscalers, to the shifting focus of infrastructure and hosting providers, here are 3 ways in which these IT buyers are changing the IT market.
The business of IT is changing. Service providers moving away from pure infrastructure services, digital transformation, and the advent of the cloud have all created a major shift in dynamics in the traditional supply chain.
The market is evolving, and many companies are offering cloud services now. So, where will the market go in the next two years, and what role will technology vendors play in the success of the opportunities this trend represents?
The digital economy is changing how business professionals work, thanks to new emerging technology. Almost all areas of business are undergoing digital transformation, including procurement. Innovative technologies such as cloud, AI/cognitive, machine learning, natural language processing, and big data/analytics are completely altering traditional procurement applications, digitizing procurement and partners.