Latest hapennings – Page 4 – G-Square Solutions

- By 2025, Gartner predicts that over 75% of governments will operate more than half of workloads using hyperscale cloud service providers. Such providers use their significant investment capabilities to outpace competition in the drive for product innovation, security and cost-efficiency.

- As per a report by Gartner, By 2024, at least 60% of government AI and D&A investments will directly impact real-time operational decisions and outcomes.

- As per the Analytics India Industry Study 2022, the Analytics industry recorded a substantial increase of 34.5% on a year-on-year basis in 2022, with the market value reaching USD 61.1 billion. The overall Analytics industry is projected to reach a size of $201.0 Billion by 2027 at a CAGR of 26.9%.

- Global market for AI in big data and IoT as a whole will reach $31.4B by 2027. Embedded AI in support of IoT-connected things will reach $7.2B globally by 2027. Overall market for AI in big data and IoT will be led by Asia Pac followed by North America.

As per the report by Fortune Business Insights, the global big data analytics market size stood at USD 206.95 Billion in 2020 and is projected to reach USD 549.73 Billion by 2028, exhibiting at a CAGR of 13.2% in the forecast period.

Gartner’s ‘cloud shift’ research includes only those enterprise IT categories that can transition to cloud, within the application software, infrastructure software, business process services and system infrastructure markets. By 2025, 51% of IT spending in these four categories will have shifted from traditional solutions to the public cloud, compared to 41% in 2022.

AI, ML & Data Analytics trends

Some interesting Technology trends which have bearing on the AI impact for AI & ML driven Data Analytics practices. This is per the latest Gartner Report on Top Technology Trends for 2022:
- By 2025, cloud-native platforms will serve as the foundation for more than 95% of new digital initiatives, up from less than 40% in 2021
- By 2023, more than a third of large organizations will have analysts practicing decision intelligence including decision modeling
- By 2025, the 10% of enterprises that establish AI engineering best practices will generate at least three times more value from their AI efforts than the 90% of enterprises that do not.

According to a latest Gartner report, Indian Corporates are expected to spend a total of $101.8 billion on Information technology (IT) in 2022 to support new IT projects. This marks a 7% increase in IT spending as compared to 2021, which saw India spend $95.1 billion on IT services, the report released on Wednesday said.

As per the latest Forrester 2022 Predictions for Asia Pacific report, Global cloud-native adoption rose last year since Developers reported increased usage of containers (33% to 42%) & serverless (26% to 32%) at their organisation which will accelerate enterprise modernisation and implement future fit technology strategies further in Year 2022.

According to 2020 market share numbers from IDC, the total worldwide business intelligence and analytics market hit $19.2 billion, growing a healthy 5.2% despite pandemic-related economic upheavals. Looking ahead, BI growth is expected to accelerate as companies focus on digital transformation and smarter ways to use data to drive the business forward.

As per a news item published in Techcircle, the Indian Software-as-a-Service (SaaS) market could reach $1 trillion in value in the next nine years, Chennai-based SaaS consortium, SaaSBOOMi, in a report said. The report also said that the SaaS boom could see the creation of half a million new jobs.

Research from StrategyR published a report that said Amid the COVID-19 crisis, the global market for Data Analytics Outsourcing estimated at US$5 Billion in the year 2020, is projected to reach a revised size of US$22.9 Billion by 2026, growing at a CAGR of 28.4% over the analysis period.

A report by Analytics Insight highlighted that Big Data plays a principal role in understanding customer needs and drawing market patterns. India is one of the fastest-growing countries adopting artificial intelligence, big data analytics, and IoT. According to reports, the Indian analytics industry is estimated to reach approximately US$16 billion by 2025.