The second part of this week’s Q&A with Kable Global ICT Intelligence takes a look at the regions experiencing the strongest growth and the biggest challenges the ICT industry faces during the coming decade. Click here for Part 1.
Q3. Which companies are driving innovation in ICT? In what countries or regions is ICT experiencing the strongest growth and why?
While it is often the larger, established vendors that are in the news for the unveiling of their new innovative products and offerings, the truth is that companies across the spectrum, from start-ups to large vendors, have been contributing to innovation. While Cloud and IoT are the obvious targets for innovation for most ICT vendors, Augmented Reality is another exciting area which has been seeing innovation. There have been a few high profile announcements on Augmented Reality from Microsoft (on HoloLens) and Google (on Google Glass); even Apple has been quick to point out that it too is investing in augmented reality. However, smaller vendors such as HTC (with its Vive) too have been showing innovation in this space and have garnered attention.
In terms of ICT market growth, apart from the developed nations that include the India are expected to show a strong performance. Organizations across these regions are increasingly embracing digital transformation initiatives as they attempt to streamline processes, minimize costs and strengthen their adaptability. In short, organizations in these regions are at a stage where they need to drive innovation in order to remain ahead of the competition, which has led to a strong culture of ICT investments.
Q4. What are the biggest challenges the ICT industry faces over the next decade? How will ICT companies respond?
Security will, without a doubt, be the biggest challenge that the ICT industry will face in the next decade. While the rapid adoption of Cloud, Mobility and the Internet of Things continues to be the prime drivers for the industry, they also pose serious threats owing to the expansive grid of the device nodes – each of which is a potential threat that can compromise the integrity of the entire network.
As recent examples show, there has been an increase in the sophistication of cyber-attacks that have led to severe breaches with serious consequences. The Ashley Madison breach last year, and the iCloud and Sony Pictures Entertainment hack the year before are reminders that this risk is real and will continue to increase in sophistication. The rapid adoption of Cloud and Mobility along with the increased penetration of IoT means that the ICT industry has to adapt to this new reality. Companies and vendors alike will therefore have to make security their top priority and proactively preempt attacks, leveraging predictive modeling, building security into all business processes, and providing end-to-end security.
Q5. Outside of those you already cover, what other industries do you find interesting? Have you ever considered covering this industry?
In this digital age, every industry has a digital facet which is increasingly becoming more important, and without which it cannot survive in this age of a connected world. As these digital facets mature and connect, we expect to see some interesting fusions between industries.
The autonomous driving car is now closer to reality than ever. Nearly every car maker including Ford, Tesla, and Volkswagen is in a race to build a self-driving car. Even Uber, for that matter, has been experimenting with self-driving cars for a few months now. Similarly, we are seeing the growth of smart cities such as Laguna Croatá and Nansha, in addition to traditional cities such as Barcelona and Amsterdam that are integrating multiple ICT and IoT solutions, and processing and analyzing data from across the various facets of the city’s infrastructure.
While these developments are in themselves quite interesting, with the growth of technology we are now seeing an interface emerge between these two areas. Audi has recently announced that several of its 2017 model vehicles will be able to communicate using a vehicle-to-infrastructure (V2I) technology. Although still in its nascent stage, V2I will allow for the exchange of safety and operational data from the smart cities’ infrastructure to automobiles via the Cloud.
We are excited to see industries and technologies which tended to work in silos until yesterday increasingly work in concert, and will continue to monitor industries’ approach to these developments in the future as well.
Innovation is driving growth in the ICT industry, with vendors of all sizes exploring various new technologies to stay ahead of the competition. However, as Nishant points out, the security of these new technologies is the biggest challenge the industry faces. As a result, ICT vendors must make the security of their products their top priority to ensure their customers and businesses are protected against cyber-attacks.
We’d like to thank Nishant for taking the time to answer our questions about the ICT industry and for sharing his expertise in this area.
About the Interviewee:
Nishant Singh is Practice Head at Kable, and has over a decade of work experience in the Information Technology domain, working on predictive modeling, forecasting and premium datasets pertaining to the IT industry. At Kable, Nishant is responsible for the planning, production, and delivery of Kable’s portfolio of research & analysis products.
As the Practice Head, Nishant has been instrumental in overseeing the formation and growth of Kable’s analyst team in India. Nishant is also central to Kable’s Global ICT Intelligence division’s ability to present interactive content in premium information tools, and is responsible for the creation of the predictive modeling engine in Kable’s ICT Client Prospector.
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