The irreversible emergence of new and evolving technologies such as cloud computing, big data, mobility, and the Internet of Things (IoT) has presented traditional vertical industries with significant challenges. Almost all traditional industry leaders are affected by this pervasive trend and are wondering which industry will be the next to be disrupted by technology.
Innovative technologies are forcing industry leaders to adopt new technology to improve legacy production processes, services, and operation systems. With this, the demand for new technologies by Governments and enterprises has driven a wave of ICT market growth around vertical industries.
According to a report released by IDC in December 2014, global ICT spending will grow by 3.8 percent in 2015 to exceed US$3.8 trillion. The growth in spending will be generated around 3rd platform technologies including mobility, social media, cloud computing, and big data. However, this increase in ICT spending will come with new challenges.