IDC: EU connected device data revenue opportunity of $10.5bn by 2022
December 17, 2019
International Data Corporation (IDC) has revealed its European predictions for 2020 and beyond. The predictions were presented in a live webinar hosted by Thomas Meyer (GM and group VP) and Phil Carter (chief analyst).
The future enterprise was the theme of the webinar: tech-everywhere, platform-based, ecosystem-centric with innovation as the norm.
IDC explained the decisions that should be made for 2020 through the lens of the CEO. The objective was to ensure that the industry removes the traditional IT/business/digital debate once and for all.
“We created 10 game-changing predictions that we think are going to shape the market in 2020 and beyond. We highlight the future enterprise and how we need to redefine value, leadership, and technology as we move toward the future. We hope these predictions will help European enterprises to plan their 2020 strategies.” said Carter.
IDC’s top 10 predictions reveals the following:
1. Spotlight on digital capabilities: By 2022, 25 per cent of the top 500 European companies will have at least two board members with digital business excellence capabilities.
2. Digital investments: In 2020, European organisations will spend over $271 billion on digital transformation, but only 16 per cent will deliver new revenue streams.
3. Data collected from connected devices: By 2022, data collected from connected devices will generate a revenue opportunity of $10.5 billion for the top 500 European organisations.
4. Core modernisation journey: By 2025, 60 per cent of European organisations will modernise their core IT leveraging the cloud, resulting in a 25 per cent business productivity improvement.
5. New technology leadership role: By 2022, 30 per cent of European organisations will define a new technology leadership role combining CIO, CTO, CDO, and innovation functions.
6. Processes to become more intelligent: By 2023, 70 per cent of European intelligent process automation (IPA) initiatives will be infused by AI.
7. European organisations will replace KPIs with KBIs: By 2022, 60 per cent of the top 2,000 European organisations will replace KPIs with KBIs to accelerate employee and customer advocacy.
8. Accelerate cultural change: By 2022, a third of organisations will fail to accelerate business agility and innovation due to a copycat culture.
9. The role of the CISO: 2022 is the cut-off for CISOs to establish themselves as business leaders who can provide digital trust.
10. The ethical use of digital technologies: By 2024, 50 per cent of European public companies will report annually on the ethical use of data, automation, and AI in their organisations.