Telecom Trend In 2020
The global economy has been going through a slowdown over the past few years. 2020 appears to be no different with COIVID-19 fear still around and no certainty on what end of the dawn will look like , worldwide growth expected at 3.3 per cent in 2020. Despite this, the technology industry is likely to grow 4.5 per cent in 2020 to reach USD 2.5 trillion. Enterprise software is the fastest growing at 10.5 per cent; an additional impetus is coming from the focus on digital technologies, especially analytics and legacy system modernisation.
Executives are spending across a variety of new technologies to solve specific customer problems, rather than any ‘one thing.’ Cyber security is top but cloud, AI, and big data are clustered together close behind, in order to harvest the true potential of data amid digitization. 79% of executives are investing in digital transformation, given how much can be achieved with small budgets and limited technical expertise.
We can define Telecom Trends as disruptive and emerging technology that fulfils unaddressed needs and/or solves global problems. This includes the underlying technologies themselves (e.g. ArtifiCIO speaks By Apoorv Srivastava,Director Global Services CIO, BT | |May 2020 13 cial Intelligence, IoT, Blockchain, Augmented Reality, 5G, Virtual Reality, Quantum and Edge Computing), as well as adjacent products and services (e.g. Smart Homes and Wearable Technology).
Beyond social media, the next wave of disruption within commerce is likely to be driven by voice technology and the desire to provide personalised product recommendations (e.g. Voice Recognition and Virtual Assistants).
While it is encouraging to see digitalization becoming a permanent fixture of modern life, on the flip side concerns regarding data governance and privacy are increasing as consumers consider how companies are making use of their personal data (e.g. Digital Ethics & Privacy, Cyber security and Data Monetisation). Authentication of the consumer will remain a priority (e.g. Facial Recognition) for a variety of services (e.g. Digital Payments & FinTech).
New market opportunities are emerging (e.g. eSports, Education Technology, Digital Twins and Geospatial Technology), while, despite significant hype and significant levels of investment, others (e.g. Cryptocurrencies and Smart Dust) appear likely to have limited impact based on the known variables today.
The latest research from Barclays affirms the technology trends with AI,5G ,Cyber security and Digital Payments creating the more impact in this financial year while Digital Twin and Cryptocurrencies are yet to find feets with large scale deployment opportunities.
Looking within the house first, Government of India’s ambition to be a $ 1 trillion data economy by 2025, we quickly needs to be assemble all the components of this jigsaw with a meticulous strategy that would guide the industry on aspects like data ownership and sharing; cyber security policy to make India a trusted partner; talent, for a future ready workforce.
The challenges before kicking the tyres on road will be around Investment in building innovation hubs and business friendly policies. For the Indian technology industry to be prepared to exploit this opportunity, it will have to focus on its own transformation – this needs to be proactive so that the industry can anticipate future trends and lead the change for itself, its customers and for India.
The forecast of skills trend as per Nasscom is still continued to be around 5 pillars
•IoT / Edge Compute0