Market Outlook
Top trends in tech
According to studies, by 2024, more than 70% of all large global enterprises will have over 70 concurrent hyperautomation initiatives mandating governance, or facing instability due to inactivity.
It is projected that by 2025, the global Quantum Computing-as-a-Service (QCaaS) market will reach $4 billion, and upwards of $26 billion before the turn of the decade, accelerating need for talent.
It is projected that by 2030, the contribution of AI and machine learning will potentially amount to $15 trillion, with up to 26% boost in GDP for economies who incorporate these new technologies.
It is estimated that by 2030, developers will have lots of support from various AI driven tools like code completion, end-to-end testing and database modelling, making IT more accessible to all.
According to research, the semiconductor technologies of today, among other tech are approaching their physical limits; this will inevitably spark a golden decade of innovation in computing.
According to the current trends, API will only continue to unlock the full potential of distributed infrastructure which includes on-premises data centers, public and private cloud.
5-Year Forecast
It is estimated that by 2024, organizations across most industries will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes. Furthermore, more than 50% of enteprises are projected to operationalize Artificial Intelligence, up from fewer than 10% in 2020.
There are two factors to support these claims: firstly, the economic uncertainty of 2021 has led organizations to reduce spending and focus on efficiency, and secondly, despite overall spending cuts, spending for digital transformation has increased, as organizations rapidly adapt their workflows, services and business models.
It is projected that by 2028, employment of software developers, quality assurance analysts and testers will grow by 22%, much faster than the average for all other occupations, and this is withstanding the fact that AI-driven innovation will simplify software development and make it more accesible to the masses.
There are three key takeaways from this: firstly, cross-platform development tools will begin to dominate the market, secondly, offshore outsourcing will be steadily replaced by nearshore practices that enable control, and lastly, blockchain decentralization, which will further increase the need for multidisciplinary expertise.
It is estimated that by 2024 more than 40% of all organizations will transition to include the following IT (I&O) infrastructure and operations practices: anywhere operations, optimal infrastructure, distributed cloud and operational continuity. The outcome of applying these principles - a cost-effective corporate environment.
Anywhere operations is a model that supports customer service, worker motivation, and deployment from anywhere, regardless of physical location. The benefits to this approach include: seamless support, employee empowerement, automated deployment, productivity, secure remote access and cost-efficiency.
According to studies, and in light of the ongoing pandemic, more than 60% of the the three hundred human capital leaders surveyed have identified flexible work arrangements as the primary driver of talent attraction. This figure is estimated to increase to 80% by 2025 as remote work surpasses on-premises participation.
This is supported by other surveys that have concurred that remote workers are actually more productive than their office based counterparts. These studies have surprinsingly uncovered that: remote employees work an additional 1.4 more days per month, and during that time are 20% more productive.
Information Technology governance (ITG) provides the structure that links IT processes, resources and information to an organization's objectives, similar to Corporate Social Responsibility (CSR) where organizations spend % of the net profit on the social, environmental and economic effects of their operations.
Results of a recent study revealed that IT specialists gave higher ranks to ITG performance measures comparing with other respondent groups, a trend that will only accelerate because of all the many benefits, primarily the ability to improve multiple individual processes simultaneously as opposed to one by one.