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Tracking ICT Spending as Industries Embark on Digital Transformation Journeys
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Information Technology & Communications (ICT) investment across vertical markets will outpace Europe’s average gross domestic product (GDP) growth. Compared to the organisation for economic co-operation and development (OECD) nominal GDP forecast during 2014 to 2016 of 2.2%, the total ICT spending by industries in Europe is expected to grow at faster pace of an average year-on-year (YoY) of 3.3% during 2014 to 2019. This forecast aims to capture the requirements of ICT components by industries across Europe as well as technology adoption trends as enterprises embark on their digital transformation journeys. Five industries offer strategic opportunities for the ICT community. These are the ICT, energy and utilities, healthcare, transportation, and manufacturing industries, all of which lead the drive in digitalisation of a connected society. The Energy & Utilities industry is increasingly keen to utilise ICT to complement its smart grid investments in such projects as substation upgrades, renewables, and/or EVs integration and customer satisfaction initiatives. The sector recognises that maturing technology trends such as connectivity, cloud, and Big Data and analytics are key enablers for helping them achieve the same operational outcomes. For example, the concept of Internet of Things (IoT) is a software and cloud-based solution that allows utilities to connect sensors to gain visibility of operational asset status in order to enable demand side management (DSM). By taking an ICT instead of an engineering perspective, utilities learn that different approaches can lead to the same outcome; of having more accurate grasp of operational data for better decision making. The drivers for ICT spending in the healthcare industry are mainly derived from the realisation that M2M, mobility, cloud, and wearables will significantly transform the way healthcare services are delivered and consumed. 2015 is expected to be a critical year for ICT vendors in their healthcare specific propositions. Manufacturing or industrial automation is also another sector to watch for ICT vendors targeting connected industries opportunities. IT-based solutions will drive overall ICT spending in the industry as it becomes smarter with real-time integration of operational and enterprise systems.Use of data analytics, AI, and ML will completely change the way industries interact within a connected society. The ability to integrate consumers into such hyper-connected systems will require the use of these emerging technologies to support the foundation of trust, data privacy, and transaction mechanism. These emerging technologies however still require a robust and resilient IT and communications architecture. For now, enterprises within key industries are still widening their adoption for more established technologies such as next generation communications infrastructure, secure IT architecture, and enterprise mobility. Winners in the ICT community must be agile in organisation, technology portfolio, and customer acquisition. A few notable market leaders are Ericsson, Cisco, and Deutsche Telekom Group. Communications service providers face the biggest challenge in retaining and growing their share of vertical markets ICT investments. Those with limited scale and portfolio offerings face the highest risks of irrelevance. The ICT industry is poised for a shake-up. New types of stakeholders will be formed and the consolidation of traditional market leaders will intensify in 2017, leading to innovations in business models in applying new technology.Key Questions This Study Will Answer· What technology trends are expected to drive digital transformation within connected industries?· What are the top 5 growth opportunities?· Which industries are the top sector opportunities?· What are the key opportunities for ICT and industry vendors?· What are the adoption roadmaps among key industries?
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