BizTechReports: Global IT Spending Approaches $4 Trillion and Other Analyst Insights

By: PRLog
Gartner's Views on Digital Economy; Frost & Sullivan's Take on Technologies' Role in Payment Systems; And Juniper Research Forecast for Wearable Devices
PRLog - Dec. 2, 2014 - ROCKVILLE, Md. -- BizTechReports (www.biztechreports.com) has published its latest analyst roundup of research from the leading analysts and consulting firms influencing the enterprise IT decision-making community.

…The Multi-Trillion Dollar Digital Industrial Economy – Gartner

According to Gartner, Worldwide IT spending is projected to surpass $3.9 trillion in 2015…a 3.9 percent increase from 2014. Much of this spending will be driven by the digital industrial economy, that has led to:

* Some 650 million new physical objects that  have come online since 2013.
* 10 percent of automobiles to become connected; and
* The doubling of the number of Chief Data Officers and Chief Digital Officer Positions in corporate organizational structures.

Peter Sondergaard, senior vice president at Gartner and global head of research noted that $40 billion is being invested to design, implement and operate products and services on the Internet of Things.

"Every piece of equipment, anything of value, will have embedded sensors. This means leading asset-intensive enterprises will have over half a million IP addressable objects by 2020,” he said.

This is contributing to a dramatic shift in IT spending power. Sondergaard believes there is a shift of demand and control away from IT organizations and toward digital business units closer to the customer. (http://biztechreports.com/blog/2014/11/24/gartner-digital-business-economy-is-resulting-in-every-business-unit-becoming-a-technology-startup/)

...Payment Systems Under Pressure to Adopt Better Technologies -- Frost & Sullivan

Meanwhile, if you have been wondering about how technology is changing the payment systems environment, researchers at Frost & Sullivan report that the complexity and prohibitive costs of most new payment solutions have delayed massive deployments and generated negative perceptions among customers.

Players in the payment ecosystem are resting their hopes on cloud-based solutions to create a bigger portfolio and reduce the costs associated with communication, hosting and access to the service or software.

The analysts find that the financial services industry will spend $109.3 billion on information and communications technologies by 2017 to alter existing payment solution development strategies with a goal of incorporating innovation and better meeting end-user requirements.

“By aligning innovative payment technologies – particularly those based on mobile usage and new mobility trends – to industry requirements, the financial services industry can reduce total investments,” says Jean-Noël Georges, Frost & Sullivan's Global Program Director for ICT.(http://biztechreports.com/blog/2014/11/24/frost-sullivan-cloud-based-solutions-to-address-key-issues-plaguing-the-payment-ecosystem/)

...Wearable Devices Market Set to Quadruple -- Juniper Research

Finally…just to show that those technological doodads the kids, hipsters and corporate early adopters are wearing these days are not just a passing fad, new findings from Juniper Research reveal that global smart wearable device shipments will more than quadruple by 2017, reaching 116 million units, compared to an estimated 27 million this year 2014.

With technological barriers coming down, larger players in the market are moving beyond devices to produce operating systems and databanks that manage the information generated by wearables.

Recent examples include Google’s Android Wear, Qualcomm’s 2net and Samsung’s Digital Health Initiative.

This, says Juniper, will bring an explosion of devices into an already crowded market, as smaller companies focus on producing quality hardware without needing software expertise. As a result, the analysts lament…the segment will be less open to truly unique innovations…with software platforms dictating capability.

For more on these and other reports on the impact that technology is having on our global digital economy visit www.biztechreports.com.

About BizTechReports:

BizTechReports is an independent reporting agency with offices in Washington, San Francisco and Toronto. We analyze user trends in business technology. Our reports explore the role that technology products and services play in the overall economy and/or in specific vertical industries. It is the mission of BizTechReports to put enterprise technologies into a context that business decision-makers can understand and appreciate.

Contact:

Lane Cooper
Editorial Director
BizTechReports
888 418 1156 x 101
www.biztechreports.com
Twitter: @LaneCooperTL

Read Full Story - BizTechReports: Global IT Spending Approaches $4 Trillion and Other Analyst Insights | More news from this source

Press release distribution by PRLog

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.