Top 6 Tech Industry Trends
#1. CLOUD COMPUTING AND MOBILE DEVICES
Nowadays most people connect to the cloud wirelessly through their smartphones and tablets — a trend that closely links cloud and mobile technologies. Cloud software could represent almost half of all spending on applications by 2021 as tech users migrate to remote servers 3 in order to reduce their IT workloads. Due to this, cloud-focused tech services companies are likely to expand.
#2. DEPENDENCE ON HIGHLY SKILLED WORKERS
To bridge a growing skills gap and to meet rising demand at a time of growing labor shortages in most U.S. industries, Technology services companies are investing more and more in workforce training and recruitment. Now more emphasis is put on finding people with the necessary skills required and less on where workers are actually based.
#3. AN UNRELENTING FOCUS ON CYBERSECURITY
The annual global cost of attacks is expected to hit $6 trillion by 2021 — doubling in just six years. Considering the vast scope of cybercrime, security may be the ultimate growth industry. To counter these threats, companies in every industry, along with many government agencies, could spend $1 trillion through 2021 providing a massive growth in revenue for companies that specialize in cyberprotection
#4. THE CHALLENGE OF DISRUPTIVE TECHNOLOGIES
AI is already impacting how work gets done in every industry, from healthcare to marketing to human resources consulting. Other disruptors, such as blockchain, quantum computing and Industry 4.0, have the potential to further transform technology. If the recent past provides any clues, the pace of digital transformation has the potential to create new opportunities for tech services companies that perceive what’s approaching and prepare themselves by finding, training and keeping workers who have the skills of tomorrow.
#5. GROWING DEMAND FOR CONSULTANTS
Demand for management consultants is anticipated to grow at an annual rate of almost 15% through 2024. More than 700,000 global firms offer consulting services in a $250 billion industry. But even in a thriving industry, consulting firms will need to strengthen the value of their offerings as new competitors provide more flexible, data-driven, cloud-based, cross-platform solutions.
#6. BIG DATA REQUIRING BIG ANALYSIS
Big-data and business-analytics firms may see a compound annual revenue growth rate of nearly 12% through 2022 as worldwide revenue reaches an anticipated $260 billion. But as companies in every industry look to leverage data across their operations, most will lack the know-how to flourish on their own, which will open up a major opportunity for a broad range of tech services companies.