SAS projects that analytics, cloud and Artificial Intelligence will be definitive for digitizing financial services, transforming telcos and creating new experiences for customers in different industries.
The accelerated digitization of services and the definitive change in customer behavior are three reasons that will lead companies to increase their spending and investments in technology in 2022.
Although technology is not everything in Digital Transformation processes, it is a critical component. That is why industries such as finance, telcos, wholesale and retail companies will increase their investment flows in analytics technologies, cloud and Artificial Intelligence in 2022.
IDC’s Worldwide ICT Spending Guide: Industry and Company Size, an industry-segmented study by IDC, notes that Big Data, analytics solutions and cloud-based services will be the technologies that companies in the financial sector will invest the most in next year. Internet of Things (IoT) will be one of the main items in industries such as oil and gas and public services. In contrast, Artificial Intelligence will be essential for manufacturing and retail.
IDC highlights that these technologies will grow in double digits in 2022. The study indicated that: “Third platform technologies will become the largest area of technology investment in the banking industry by 2022, cloud and mobility will account for 30% or more of all industry spending throughout the forecast. While investments in Big Data and analytics will have a global growth of 11.5% in the year, consolidating as critical technologies for the transformation of this industry.”
Santiago Fainstein, Senior Director of Cloud Sales, SAS Latin America, said: “The financial industry is one of the most advanced in its Digital Transformation thanks to the enormous use it makes of analytics and Artificial Intelligence solutions. It is an industry that every day faces new challenges of digitization, cybersecurity, risk management and fraud.
“It must be complying with new regulatory provisions and adapt to changes in customer behavior. That means that the use of solutions, such as advanced analytics and Artificial Intelligence, are essential in this industry,” said Fainstein.
In analyzing the other data presented by IDC, Fainstein highlighted the strong trend that companies are experiencing to enable increased services on cloud platforms.
“A key step taken in recent times is to bring benefits not only in the cloud but also in terms of Big Data and analytics. Companies need more intelligence to make the best business decisions. If today their services are in the cloud, they need to obtain intelligence in real-time to analyze the data directly in those clouds,” said Fainstein.
Other sectors that will be highly active in increasing their technology investments in 2022 are telco operators, wholesale and retail businesses. These will turn to Big Data, cloud and IoT issues to expand their service portfolios and make smart deployments of the new 5G networks. Meanwhile, retailers will need to increase their investments in Artificial Intelligence and automation solutions to optimize their supply chains, dispatches and customers’ intelligence to improve their experiences.
Markets covered
The study covers the following segments of the ICT market:
- Nine regions: United States, Canada, Latin America, Western Europe, Central and Eastern Europe, Middle East and Africa, Japan, PRC and Asia/Pacific
- 53 countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Colombia, Czech Republic, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Korea, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Peru, the Philippines, Poland, Portugal, PRC, the rest of Asia/Pacific, the rest of CEE, the rest of Latin America, the rest of the Middle East and Africa, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom, the United States, Venezuela and Vietnam.
- 120 technologies: 15 hardware markets across infrastructure and devices; 81 software functional markets across applications, application development and deployment, and system infrastructure software; 12 IT services foundation markets across project-oriented, managed and support services; six business services markets including business consulting and key horizontal business process outsourcing; and four telecom services markets including fixed data, fixed voice, mobile data and mobile voice.
- 20 industries: Banking, insurance, securities and investment services, discrete manufacturing, process manufacturing, retail, wholesale, professional services, personal and consumer services, healthcare providers, transportation, telecommunications, media, utilities, construction, resource industries, federal/central government, state/local government, education and consumer.
- Five company size segments: 1–9, 10–99, 100–499, 500–999 and 1,000 plus employees.
About this guide
IDC’s Worldwide ICT Spending Guide: Industry and Company Size provides guidance on the expected total ICT market opportunity at a country level, a regional level and a total worldwide level. Segmented by industry, company size and technology component, this guide provides ICT vendors with insights into both large and rapidly growing segments of the ICT market and how the market will develop over the coming years.
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