The first six months of 2023 were difficult for the global fintech market, with total funding dropping from US$63.2B in H2’22 to US$52.4B in H1’23. The cloud of uncertainty permeating the market continued to wear on investors, driven by factors including global macroeconomic concerns, geopolitical tensions, and tech sector challenges. The collapse of several US banks early in 2023 likely kept many investors in wait-and-see mode during H1’23.
Read MoreAccording to Gartner, Inc, five innovative revenue and sales technologies are improving CX through coordinated efforts to support digital and physical selling. GenAI, DToC, process mining, self-integrating applications, and AR/VR for sales are being flagged as transformational innovations. These technologies remove friction in business processes, propel growth, and help leaders mitigate external influences that create unforeseen uncertainty. Gartner expects each to have a high or transformational impact within the decade.
Read MoreIoT deployments play a vital role in many enterprises’ digital transformation strategies, yielding benefits such as productivity gains, cost savings, and achieving environmental sustainability goals. As a result, enterprises continue to increase their spending on IoT solutions and are broadly expanding deployments. 95% expect to see measurable benefits from IoT within two years of deployment.
Read MoreCMOs are redefining the baselines for speed, efficiency, customization, and quality for a wide range of marketing tasks with generative AI, and they see opportunities for it to future-proof their business,” said Jessica Apotheker, BCG global CMO. A new BCG report finds most CMOs are already seeing positive results, with 93% reporting positive improvements in how they organize work and 91% reporting a positive impact on their efficiency.
Read MoreAccording to a new IDC forecast, worldwide revenue for enterprise applications will reach $483.1 billion in 2027 with a five-year CAGR of 9.6%. Nearly all this growth will come from ongoing investments in public cloud software, which is expected to represent more than two-thirds of all enterprise applications revenue in 2027.
Read MoreConnected cars on the road are set to grow 18% in 2023, according to Omdia’s latest outlook into the automotive market’s media landscape. Companies, including the likes of Google and Apple, are positioning themselves to capture and develop potential revenue opportunities from this market over the coming decade. Omdia’s research further reveals that over 900 million connected cars will be on the road at the start of the next decade, eclipsing the installed base of popular consumer devices such as pay-TV set-top boxes and tablets.
Read MoreNew research indicates that area demand for OLED displays will grow by 11.0% CAGR from 2022 to 2030. Major brands are gradually adopting OLED panels in their premium lineups across TVs, mobile phones, and the wider consumer electronic range, such as notebooks and tablets. According to Omdia, the OLED market share in the smartphone display market increased rapidly from 30% in 2020 to 42% in 2022, with its share expected to rise steadily in the future.
Read MoreWorldwide revenue for the public cloud services market totaled $545.8 billion in 2022, an increase of 22.9% over 2021. SaaS applications remained the largest public cloud services revenue source, accounting for more than 45% of the total in 2022. IaaS was the second largest revenue category, with 21.2% of the total. In comparison, PaaS and Software as a Service – System Infrastructure Software (SaaS – SIS) delivered 17.0% and 16.7% of overall revenue, respectively, according to new data from IDC.
Read MoreNew research from Omdia has found that 51% of leading CSOs already use video surveillance systems for facility safety applications. This response rate increased to 89% when CSOs were asked whether they expected to use video surveillance for this application in three years. 49% of respondents stated that their video surveillance system currently supports people safety functionality.
Read More“The ‘Early Majority’ tech adopters with a simple smart home now make up the market's largest segment,” said Elizabeth Parks, President and CMO of Parks Associates. “The profile of the smart home adopter looks different in 2022. The Super User (10+ devices) who buys technology immediately and tends to own five or more smart home devices is no longer the center of the story. A shift toward mass market may finally be underway.”
Read MoreDecreasing costs and lower capital outlays have enabled several new Small Satellite operators to enter the satellite IoT market with low-cost and low-power satellite connectivity offerings. These new entities seek to challenge traditional satellite IoT incumbents to provide a more cost-effective solution for end customers. According to ABI Research, total satellite IoT connections will increase from 10.4 million in 2022 to 27.0 million in 2030, with satellite IoT connection revenue growing from US$2.2 billion to US$7.8 billion.
Read MoreRide-hailing behemoth Didi Global recently announced it was partnering with Chinese new energy vehicle manufacturers to develop robotaxis to deploy by 2025. The move away from personal transport, paralleled by the intensifying thrust on integrated, multimodal, and sustainable transport networks, is providing a fillip to the shared mobility market. Such seismic shifts are underpinned by evolving customer expectations and a raft of enabling technologies, with total GMV from the shared mobility market set to exceed $1 trillion in 2023.
Read MoreGenerative AI, specifically large language models (LLMs), will change how organizations design jobs and resource tasks and allocate responsibilities across the enterprise. However, LLMs come with unique risks compared with other AI implementations. Generative micro apps are an emerging technology that can enable organizations to demonstrate the value of generative AI while minimizing the business’s risk exposures.
Read MoreSmart lights and plugs are quickly commoditizing. Parks Associates’ Smart Home Tracker counts more than 80 brands offering smart lights, switches, and plugs in the US market, with all offering core smart features of remote connectivity, and many offer color-changing options and integration with voice assistants for affordable prices. Manufacturers seek premium features, form factors, and services that differentiate them from the competition and earn a premium price point.
Read MoreFrom ChatGPT to DALL-E and all the technologies in between, the new wave of generative AI systems is transforming business rapidly. While employees are optimistic about how AI—and generative AI, in particular—will affect their work, feelings vary considerably by seniority and country.
Read MoreOrganizations have been migrating to the cloud to help them achieve business goals of growing revenue, improving customer experience, and increasing operational efficiency. A recent study found that 73% of them see the cloud as the most important technology to achieve business priorities, among other technologies including Big Data Analytics, IoT, Collaboration & Conferencing, and AI/ ML.
Read MoreThe 2023 Shanghai Auto Show was an unequivocal demonstration of the technological capabilities of Chinese automakers. Driven by forward-looking regulation and breakthrough technologies, China has been at the forefront of four key megatrends transforming the mobility space. Rapid growth for China’s ICV market is spurred by policy support, subsidies, new business models, and advances in enabling technologies like artificial intelligence and autonomous driving.
Read MoreAccording to a recent IDC report, about 32% of the Asia/Pacific organizations surveyed expressed their commitment to invest in generative AI technologies, with 38% exploring use cases to implement Generative AI. These digital-first enterprises are looking to apply generative AI as a key lever to elevate enterprise intelligence and drive internal efficiencies.
Read MoreThe smart home healthcare market continues to grow, but the scale of the opportunity remains underpenetrated. Last year, new smart home healthcare shipment and service revenues grew 25% to reach US$22.9 billion worldwide, but that growth rate will be hard to sustain, despite the considerable potential for further growth.
Read MoreWith the impacts of COVID-19 on cybersecurity spending budgets behind industrial sectors, worldwide investments in Critical Infrastructure (CI) cybersecurity will display robust growth rates in all sectors. The global cybersecurity market was estimated at US$213 billion in 2022 and is projected to be more than US$380 billion by 2027.
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