Information technology has gone beyond the development, maintenance, and use of computer systems, physical hardware, operating systems, and networks. The IT industry keeps growing, as it is estimated that $4.8 trillion will be spent on it in 2018, $1.5 trillion of which will belong to the US market.
IT is the ever-growing industry, and we have compiled the five most exciting trends that will play a vital role in reshaping different IT sectors in the future.
Cloud services allow companies to store massive data on remote servers instead of personal or central computers on a pay-for-use basis.
The market revenue for public cloud services is expected to exceed $278.3 billion by 2021, while the annual global spending on cloud solutions is projected to increase by 19.4% in 2019.
With the current rate of AI adoption in various sectors, it is projected that AI will take over 16% of jobs within the next decade. What’s more, AI services are expected to generate revenues of over $19 billion globally by 2020.
It is also worth noting that the AI software market is projected to grow from $1.4 billion in 2016 to almost $60 billion in 2025.
Big Data is a term used to refer to a large or complex volume of both structured and unstructured data which traditional database software would be ill-equipped to handle.
Globally, Big Data market revenue for software and services is estimated to reach $103 billion in 2027, which is an increase from $42 billion in 2018. Furthermore, 84% of organizations have launched advanced analytics and Big Data initiatives to help improve the accuracy and speed of decision making.
IoT refers to the network of computing devices that can operate together in gathering and sharing data among themselves without human intervention.
Experts believe that there will be 12.8 billion IoT units in use by 2020. The number of connected IoT devices will increase by 12% every year to reach 125 billion by 2030.
The IoT industry is projected to have an $11.1 trillion impact by 2025.
Augmented reality (AR) involves the addition of digital elements to a live view with the aid of a smartphone camera, while Virtual Reality (VR) offers an immersive experience that completely blocks out the physical world.
Augmented and virtual reality market is expected to grow to about $209 billion in 2022. In the same year, the number of shipped AR devices is projected to reach about 68.9 million units – compared to 45.6 million VR hardware devices.
Check out the infographic below to see more interesting projections for the IT industry in 2019 and beyond.