Global Virtual Reality (VR) and Augmented Reality (AR) revenue will grow from over $13 billion this year to more than $67 billion by 2024. Today’s AR/VR market is evolving beyond offering point solutions to specific problems, to becoming a fully functioning ecosystem.
The 2020 analysis of Internet of Things application areas shows that of the 1,414 public enterprise IoT projects identified, Manufacturing / Industrial settings are most common (22%), followed by Transportation / Mobility (15%) and Energy IoT projects (14%).
via IoT Analytics
“We’ve just overhauled our framework for the Internet of Things to show how business and tech leaders can breakdown IoT into three fundamental scenarios, driven by three classes of stakeholders. All these scenarios revolve around physical things.”
The reality today is that organizations are distributing application environments across on-premises data centers, public cloud or multiple public clouds, and edge locations. Organizations need solutions for their on-premises locations that deliver cloud-like agility, scale, and operational efficiency.
61% of data and analytics decision-makers adopting AI had implemented, were in the process of implementing, or were increasing their use of automation-focused machine-learning solutions — 25% plan to implement within the next year.
With its potential to accelerate and augment the industrial internet of things (IIoT), 5G technology is poised for major growth in the industrial sector, with 5G IIoT connections forecasted to rise to nearly 140,000 units in 2023, up from only about 1,000 in 2021, according to Omdia.
“Cloud-based application platforms are becoming the pacemakers in the software industry. Pure cloud platform providers such as Salesforce, Workday, and ServiceNow have been getting a lot of attention, and this will continue and even intensify.”
The worldwide public cloud services market is forecast to grow 17 percent in 2020 to total $266.4 billion — that’s up from $227.8 billion in 2019, according to Gartner. “At this point, cloud adoption is mainstream,” said Sid Nag, research vice president.
As global enterprise spending on software surpasses the $1 trillion mark in the coming decade, the growth rate of software spending will slow to 4% per annum from 7% historically. A buyers’ market for enterprise software will emerge.