The birth and death of Big Data in supporting massive scale as the terabyte shifted from an intimidating amount of data to a standard unit of measurement
The evolution of cloud computing from niche tool to a rapidly growing market that is roughly $150 billion a year now and will likely be well over a trillion dollars a year by the end of the 2020s
The Internet of Things, which will enable a future of distributed and specialized computing based on billions of processors and build on this decade’s massive progress in creating mobile and wireless smart devices.
The democratization of artificial intelligence tools including machine learning, deep learning, and data science services and platforms that have opened up the world of AI to developers and data analysts
The use of CRISPR Cas9 to programmatically edit genes, which has changed the biological world just as AI has changed the world of technology
Brain biofeedback and Brain-Computer Interfaces, which provide direct neural interfaces to control and affect a physical environment.
Extended Reality, through the development of augmented and virtual reality which are starting to provide realistic sensory simulations available on demand
A new report from industry analysts Amalgam Insights warns that this year will represent what it calls a “change for companies that have managed digital transformation & technology investment in bull markets” of the previous several years. But it says several sectors within the technology expense management (TEM) environment remain posted for significant growth, with the telecommunications industry leading the way, with a projected 15-20 percent spending increase.
Amalgam Insights chief analyst Hyoun Park authored the new report, saying the enterprise mobile sector spend will be a key driver. He says spending in this area should increase by as much as 15 percent in 2019, driven by what he calls “the incessant demand for mobile data from apps, video, music, and other persistent and constantly updating workloads.”
He also predicts that Amazon Web Services, Microsoft and Google Cloud Platform will continue to rake in more revenue, with an estimated run rate of $30 billion this year; he projects that amount could easily hit $50 billion in 2020.
Other predictions from the new Amalgam Insights report:
- Software as a Service (SaaS) will be a $75 billion market by next year;
- The Internet of Things (IoT) market will continue to be in flux, due to its complexity, with companies challenged to monetize the two billion non-cellular Internet of Things devices to be created for industrial, commercial, and enterprise; and
- Most importantly, the technology expense market will double to more than two billion dollars over the coming year.
“Over half of enterprises do not have basic technology spend practices in place,” Park says. “The most frequent mistake these companies make is assuming that they’ve assigned a person to processing telecom invoices, so those people know how to manage and optimize telecom bills and contracts, which is usually not true.”
The full Amalgam Insights report is available for download at: https://amalgaminsights.com/product/analyst-insight-7-key-technology-expense-management-predictions-for-2019