The year 2019 witnessed a huge technological impact on the IT industry. From Blockchain to Virtual Reality (VR) & Augmented Reality (AR), businesses were focused on a wide variety of new technologies to gain the upper hand in the competitive market. But, it is important for us to know which of these trends have a lasting impact on our digital economy and overall business.
We believe, 5G networks will continue to be the talk of the town. As we look forward to 2020, wireless technology will be accelerated to its highest potential. Just as 4G networks led to the ubiquity of the smartphones a few years ago, 5G will spur massive deployments of emerging technologies such as Internet of Things (IoT), Artificial intelligence (AI) and Machine Learning (ML), facilitating use cases across industries such as the public sector, especially the smart cities, healthcare, automotive, retail, manufacturing, agriculture, and many more.
Also, Cloud Computing has seen incredible growth over the past few years and it has become a mainstream now. However, the features such as improved organizational flexibility, efficiency, and performance, avoidance of vendor lock-in are now encouraging businesses to go multi-cloud. NASSCOM estimates the size of the Indian cloud computing market to almost triple by 2022, at a CAGR of 30% to touch $7.1 billion. Industries watch out, Cloud Computing is here to stay.
A recent report by PwC-DSCI says India's cybersecurity market to touch USD 3 billion by 2022. Also, with Personal Data Protection Bill getting cabinet nod, Cybersecurity and Compliance will remain as a hot discussion topic in Indian boardrooms. Imagining a world, where everything is interconnected is not a dream anymore. Technologies like 5G, AI, ML, are making this a reality. By creating a connected ecosystem, we will also see cybercriminals to come up with a different approach or strategy to take advantage. When we have so many devices, networks, connected, we would require a unified view around the clock to ensure there are no security loopholes.
Businesses will look for several technologies that are best fit and addresses all key goals of smart nation or business for that matter.
The author is CEO at RAH Infotech. Views are personal.