In Gartner has come out with a research that indicates that most industries are facing accelerating pressure for fundamental transformation, including embracing digitalization in order to survive and stay competitive.
In its annual Predicts research on industry trends titled "Top Industries Predicts 2014, it has featured 12 strategic planning assumptions that CIOs, senior business executives and IT leaders should factor into their enterprise planning and strategy-setting initiatives.
Harris-Ferrante, vice president and distinguished analyst at Gartner says, Transformation remains a critically important phenomenon across all industries. Many industries will face intense challenges in 2014 and beyond, and will have no choice but to radically change their established business models.
Top industry predictions:
- By 2016, poor return on equity will drive more than 60 percent of banks worldwide to process the majority of their transactions in the cloud.
- By year-end 2017, at least seven of the world's top 10 multi channel retailers will use 3D printing technologies to generate custom stock orders.
- By 2017, more than 60 percent of government organizations with a CIO and a chief digital officer will eliminate one of these roles.
- By 2017, 40 percent of utilities with smart metering solutions will use cloud-based big data analytics to address asset-, commodity-, customer- or revenue-related needs.
- By year-end 2015, inadequate ROI will drive insurers to abandon 40 percent of their current customer-facing mobile app
- Full-genome sequencing will stimulate a new market for medical data banks, with market penetration exceeding three percent by 2016.
- By 2016, 60 percent of U.S. health insurers will know the procedure price and provider quality rating of shoppable medical services in advance.
Through 2017, K-12 online education spending will increase 25 percent, while budgetary constraints will keep spending on traditional instructional categories stagnant. - By 2018, 20 percent of the top 100 manufacturers' revenue will come from innovations that are the result of new cross-industry value experiences.
- By 2018, 3D printing will result in the loss of at least $100 billion per year in intellectual property globally.
- By 2017, 15 percent of consumers will respond to context-aware offers based on their individual demographics and shopper profiles.
- By 2015, 80 percent of life science organizations will be crushed by elements of big data, exposing poor ROI on IT investments.
Ferrante also says, "The pressures of consumerization continue to disrupt many enterprises, forcing them to change their traditional business processes and operational models. The necessity to adopt digital business models transcends all industry verticals, and its diverse impacts are creating business opportunities that were not possible in the past. Enterprises must respond immediately in order to build the right business and IT road map for future market demands."
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