Harnessing the potential of digital technology is critical to unlocking value in today’s global economy. For many corporations, digitizing has also become essential for their basic survival. As they invest in their digital transition, businesses need to determine where they will reap the most reward.
While all banks worldwide acknowledge the importance and complexity of transforming their businesses to compete in this digital economy, nearly 40% haven’t executed on a sustainable digital transformation strategy, according to a new survey from IDC.
According to Juniper Research, Subscription Video on Demand (SVoD) services — from leading providers such as Netflix and Amazon — will drive a surge in OTT revenues to reach $120 billion in 2022, and that’s up from $64 billion in 2017. In this environment, the traditional expensive bundle of pay-TV services will surely continue their decline.
The volume of A2P messaging is expected to increase by 20 percent over the next 5 years to more than 2.7 trillion by 2022 — that’s up from 2.1 trillion in 2017, according to the latest worldwide market study by Juniper Research.
On a geographic basis, the United States leads by a very large margin in terms of industry cloud adoption across the three aforementioned industries combined. It’s expected to reach 73 percent of worldwide spend in 2017, followed by Western Europe at 12 percent.