Let’s take a look at some key statistics for 2014.
- An estimated 1.9 billion mobile phones would have been sold by the end of this year (according to Gartner)
- The share of smartphones in the overall mobile market is expected to increase from 66% to 88% in 2018.
- Investments in cloud technologies and services are expected to go beyond $100 billion (25% surge in value) in the year 2014.
- Big Data is all set to attack a global spending of $114 billion encompassing hardware, software and service expenses.
- Software exports from India are expected to grow by 13% in 2014 (almost $87 billion)
Now that you have seen this statistics, do you see a trend?Application, development and maintenance work account for 30%-40% of revenue for most IT firms. This is clearly indicative of the fact that traditional services are major contributors to the revenue. However, it is possible to replicate automation and platform based services across various nonlinear initiatives and segments. This indicates that investing in SMAC would not only increase the business prospects for the IT companies, but also allow them to offer more value to the clients.
In the next 2 years, IT firms are expected to invest on cloud based services and analytics. It is not necessary that all the 4 technologies that make up SMAC be used in a single application. Even 2 or 3 may be used in tandem to produce amazing results. The investment in SMAC may be done in the following manner:
1. 10% (of the total IT budgets) would be invested in big data and analytics
2. About 5% of the budget would be dedicated to cloud services (inclusive of software as a service, and platform as a service)
3. Around 3% would be invested in mobile apps and devices
4. 4% is expected to be invested in social media.
As per current statistics, SMAC revenue accounts for less than 10% of the overall revenue generated by IT firms. However, Indian IT companies would be able to generate well over $225 billion from SMAC by the year 2020. For a more relevant context, the SMAC based revenue would touch $130 billion by 2015.
In 2015, the key areas that would be targeted by IT firms include Application Development, Security, Wireless / Mobile Technology, Business Analytics and Cloud Computing. Investments would now be targeted at specific aspects of each of these areas in order to give a proper boost to the implementation of these technologies. It seems that 2015 will have new surprises in store for the world.
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