The global smart home market size is expected to grow from $78.3 billion in 2020 to $135.3 billion by 2025 — that’s a CAGR of 11.6%. The growth is driven by increasing internet users, the income of people in developing economies, home monitoring in remote locations, and the need for energy-saving & low carbon emission solutions.
“The resilience of these companies is due to one simple fact: They have transformed their traditional business models rapidly by leveraging a plethora of digital practices. And this transformation is hardly unique to China: It is what players must undertake in the economy of the pandemic to survive.”
via MIT Sloan
IT innovations, such as Big Data analysis, machine learning, artificial intelligence (AI), software analytics and cloud solutions — as well as the growing demand for sensors to capture and process data — have been significant drivers for the adoption of Digital Twin use cases.
In Q1 2020 USB video conferencing systems accounted for 36% of the videoconference market revenues — that’s up from 21% a year ago. Meanwhile, the USB share of video rooms jumped to 41% — that’s up from 35% a year ago.
via Synergy Research
Open IT solutions are gaining momentum. Most savvy CIOs and CTOs already have plans to increase their applications for open-source software projects. While that software is an established component of on-premises enterprise data centers, the untapped opportunity is open IT hardware infrastructure.
“Delivering automation of indirect sales processes, workflows and partner programs, channel software is becoming increasingly critical to a brands’ ability to win, serve, and retain its customers and partners. It’s a fast-growing market, with 59% of companies increasing spending across the stack.”
Because of the pandemic, leadership teams have embraced technology and data, reinventing core processes and adopting new collaboration tools. Technology and people interacting in new ways is at the heart of the new operating model for business — and of creating an effective post-pandemic organization.
More CIOs and CTOs are seeking actionable insight from the new technologies that are driving digital transformation within the industrial and manufacturing sectors. Manufacturing plants generate mountains of data throughout the day, every day. That data is a valuable asset.
“The quantum computing age is growing ever closer – and it could render current encryption systems obsolete. These risks could also prevent this technology’s true value from being realized. Addressing this issue requires action at the national and global levels – now.”