Last year at this time, it was predicted that technologies like 5G and Internet of Things would be developing trends. This is still true. According to a survey by CompTIA, the global tech industry is set to grow at a rate of 3.7%, reaching $5.2 trillion. The United States technology market accounts for nearly a third of that, with an expenditure of $1.7 trillion expected in 2020. Read on to learn more about business’ approach to the adoption of these new technologies.
New Technologies Making Inroads in 2020
While technologies of infrastructure and software development (Internet of Things and Artificial Intelligence, respectively) will continue to gain ground, for many businesses they are secondary to the infrastructure and software development that already exist. Some other emerging technologies mentioned by CompTIA include software development (Software as a Service, for instance) and big data analytics. These technologies that are coming to the fore may drive revenue growth, once they are integrated with already-present technology to create innovative solutions.
The Four Pillars of Information Technology
According to an IDC survey, companies plan to orient their technology spending to four “pillars” of information technology: software development, cybersecurity, data, and infrastructure. Of the companies surveyed, 57% plan to focus on software development. With the infrastructure already in place, along with the users and connectivity being available, U.S. companies can focus on developing the software and services supported by this foundation. Cybersecurity follows close behind, with 51% of surveyed companies focusing on expanding their defenses against cyberattack and establishing internal processes and policies to keep their operations secure. A portion of companies (47%) will choose to focus on data, especially predictive analytics and database administration, springboards from which they can analyze the data already available. Lastly, in terms of infrastructure, cloud computing will play an important role, not as an emerging technology but one that can contribute to a company’s IT architecture (including networks and storage) and connected to infrastructure that already exists.
Cybersecurity is Still A Key Consideration
With all these new developments, cybersecurity is still an issue to be addressed. With numerous devices connected to the Internet, in the case of IoT, and more and more data from these connections, cybersecurity will still be crucial. According to the survey, the most prominent area in the cybersecurity pillar will be the gathering and analysis of cybersecurity analytics, helping to give a business a picture of how secure its network is and possibly how ready a company is to adopt emerging technologies.
For an evaluation of your company’s readiness for 2020 technology trends, contact your trusted technology advisor today.