Implementing IoT Solutions to Enhance Business Efficiency is a Key Trend for the Growth of the Global IT Professional Services Market Through 2020, Reports Technavio
By Business Wire News
By Business Wire News
Technavio research analysts are forecasting positive growth for many segments of the global IT professional services market over the next four years as several markets including UC&C, internet of things (IoT), and enterprise application integration (EAI), will witness an increase in revenues.
Based on the study carried out by Technavio research analysts, the market will witness the massive growth of the global IoT market over the next four years. The market is estimated to grow at a rate of nearly 36% during the period 2016-2020. Increased use of the Internet coupled with favorable government initiatives from many countries has boosted the growth prospects for the global IoT market. Several organizations are implementing IoT solutions to enhance their business efficiency through process optimization. The demand for Iot is likely to catapult over the next four years following the growing number of low-cost smart connected devices like portable navigation devices, media players, and imaging devices.
According to Amrita Choudhury, a lead analyst at Technavio for ICT research, “The increasing use of big data analytics among industries such as healthcare, energy and utilities, manufacturing, and transportation to gain insights on their stored data is helping the IoT market towards the upward trajectory. The manufacturing sector is the highest end-user market for IoT. This is because manufactures use IoT technology to enhance their business productivity and for predictive maintenance and optimization of factory floor performance.”
Apart from IoT, the global unified communication and collaboration or UC&C market is another fast-growing segment in the IT professional servicesmarket. The rising demand for virtualized communications will aid in the strong growth of this market during the forecast period. Virtualization can address the issue of running virtualized voice and videos in data centers. It can also assist companies in increasing the number of mobile devices and virtual desktops that are hosted on each data center server. As a result, many vendors are introducing virtualization software support in their telephony and UC&C portfolios.
In terms of application, the UC&C market is segmented into enterprise collaboration, enterprise telephony, and contact center. Technavio research analysts expect the enterprise collaboration segment to obtain a market share of close to 61% by 2020 and dominate the global UC&C market during the forecast period.
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Another fast-trending segment in the market is the growth of the global enterprise application integration market. The need to improve business process efficiency is one of the primary reasons for the growth of the market. The use of multiple systems in a business environment has increased the complexities for sharing data or business rules and make business decisions. A lack of communication among the various systems leads to inefficiencies and can result in storing of identical data in multiple locations eating up space, or bring about problems in establishing automation. This is where EAI comes into play as it involves linking applications within a single common system together to simplify business processes.
Geographically, the global EAI market is segmented into three key regions, including the Americas, APAC, and EMEA. The Americas led the market in 2015 and will continue to do so over the next four years. The US is the market leader in this region with the entry of specialized application system integrators eroding the market share of reputable system integrators and boosting the market competition.
Some of the key vendors for IT professional services include Alcatel-Lucent, AT&T, and Qualcomm for IoT, Avaya, Cisco, and IBM for UC&C, and Microsoft, Oracle, and Software AG for EAI.
Browse related reports:
- Global IoT Market in the Transportation Sector 2016-2020
- Global Back Office System Integration Market 2016-2020
- Global Software Defined Storage Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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