If you want your business to be successful, you have to aim for the latest emerging technologies to stay updated. It can easily drive efficiency, cut costs, boost profits, and expand your business.
According to Intetics, a prestigious custom software development company, you are going to experience a great change in the enterprise IT industry. So, let’s explore the crazy facts about some emerging technologies, techniques, and industries that are expected to shape enterprise strategies during this period.
Expenses Of The Global IT Sector
- Global IT expenditures or expenses are estimated to reach $5.1 trillion in 2024, reflecting an 8% rise compared to the figures recorded in 2023.
- Data center systems (9.5%), devices (4.8%), software (13.8%), IT services (10.4%), and communication services (3.3%) are the top expense areas predicted in 2024.
- The enterprise software segment continues its upward trajectory, reaching $783 billion in global spending in 2022.
- Product lifecycle management and engineering software are indicating a steady increase in valuation from $20.95 billion in 2020 to an estimated $22.6 billion by 2025.
- Projections for 2023 estimate spending to reach approx. $856 billion, with various sub-segments showing promising growth, such as:
| Areas | 2023 | 2026 |
| Business Intelligence and Analytics | $16.39 billion | $18.5 billion |
| Content Management | $48.9 billion | $50.5 billion |
| CRM Software | $54.7 billion | $58.8 billion |
| ERP Software | $80.7 billion | $108.8 billion |
AI Adoption In Various Industries
- In 2025, there is a possibility that artificial intelligence (AI) could lead to the elimination of 85 million jobs, yet it may also contribute to the creation of 97 million new jobs or employment, resulting in a net gain of 12 million jobs.
- By the year 2030, it is anticipated that artificial intelligence (AI) will contribute $15.7 trillion to the global economy.
- Netflix generates an annual revenue of $1 billion through automated personalized recommendations.
- The adoption and usage of artificial intelligence (AI) in various industries is expected to contribute to a growth of $15.7 trillion in the Global Gross Domestic Product (GDP) by the year 2030.
- AI usage statistics suggest that by 2030, approximately 26.1% of China’s Gross Domestic Product (GDP) will be attributed to AI. In North America, the contribution to global technology exports to other economies is expected to be 14.5%, with the United Arab Emirates closely following at 13.5%.
IoT Devices
- Currently, there are well over 14 billion connected Internet of Things (IoT) devices worldwide. Projections indicate that by 2030, the number of IoT devices is expected to reach 25.44 billion.
- The current valuation of the Internet of Things (IoT) market stands at approximately $800 billion. It is projected to experience substantial growth, reaching nearly $1.1 trillion by 2024 at a Compound Annual Growth Rate (CAGR) of 13%.
- Video entertainment (64.6%) holds the position of being the largest spending category within the Internet of Things (IoT) followed by Smart Speaker (9.3%) and Home Monitoring/Security (5.5%).
- Greater China leads as the most significant contributor, boasting over 5 billion IoT devices. Additionally, both North America and Europe contribute substantially, each adding over 3 billion IoT devices to the global total.
Agile And Scrum Methodology
- According to the “State of Agile Report 2020” by CollabNet VersionOne, 87% of respondents reported improved productivity when using Agile methodologies.
- Faster Time-to-Market:
- The same “State of Agile Report 2020” indicated that 64% of respondents reported faster time-to-market for their products when using Agile prioritization techniques and practices.
- Improved Team Morale:
- 91% of respondents reported that Scrum has improved the quality of work life for their teams.
- 86% of organizations practicing Agile experienced a reduction in defects.
- Increased Customer Satisfaction:
Software Industry
- According to Statista, the global custom software development market got a value of around $472 billion in 2020 and is predicted to gain over $620 billion by 2023.
- The Stack Overflow Developer Survey 2020 found that Agile methodologies were used by 55.6% of developers, making it the most widely used development methodology.
- GitHub’s Octoverse 2020 report revealed that there were over 56 million developers collaborating across 100 million repositories. The number of contributions to open-source projects increased by 35% compared to the previous year.
- The State of DevOps Report 2020 by Puppet and CircleCI found that high-performing organizations deploy code 208 times more frequently than low performers, indicating the impact of DevOps practices on release frequency.
- Competition in the office suite arena is evolving, with Google’s office suite securing over 50% of the global market share in 2023. Open-source adoption is on the rise globally, with regions like APAC, LATAM, and EMEA catching up with the prevailing trends.
Cloud and Data Management
- 93% of enterprises and custom software development companies have a multi-cloud management strategy, and 87% have a hybrid cloud strategy, indicating a widespread adoption of cloud solutions.
- IDC predicted that the atmosphere of the whole world will grow from 33 zettabytes (ZB) in 2018 to 175 zettabytes by 2025.
- Security concerns are the top barrier to faster adoption of cloud computing, with 77% of respondents listing it as a significant issue.
- 64% of enterprises run their databases in the cloud, with AWS RDS and Microsoft Azure SQL Database being the most popular cloud-based database services.
- Global spending on public cloud server services is estimated to rise by 18.4% in 2021, reaching $304.9 billion.
Open-Source Software
- over 56 million developers were collaborating across 100 million repositories on GitHub.
- 99% of the applications scanned contained open-source components.
- 93% of hiring managers were having difficulty finding open-source talent.
- 92% of respondents reported running at least one open-source database in production. This highlights the significant role open-source databases play in data management.
- GitHub found that open source is actively used and contributed to by government organizations. Over 7,700 U.S. federal government GitHub repositories were active in 2020.
Conclusion
As technology vocabulary continues to advance, these emerging trends act as early indicators, providing insights into new opportunities and potential challenges. Organizations that adopt a forward-looking approach staying abreast of these trends, will be well-positioned to implement innovative solutions proactively.
For expert guidance in the field of innovative software and enterprise IT, contact Intetics.com to navigate the future with confidence.
