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Well, just like every year we are about to close one chapter of life with some ups and down, however, it is good if we talk only what we are imminent to get rather pondering on losses.
The year of 2019 was full of new technology developments and trends such as Artificial intelligence which was a buzz of the town whole year; progress in quantum computing, smart homes, Autonomous cars, smartphone’s camera technology, 5G tussle and so many more things are going to take forward in 2020 with advancements. Thus, in the context of the same, we gathered views and insights on the major tech trends of the year 2019 of different tech industry veteran to know the developments on upcoming technologies to look out for in the year 2020.
Mr. Rakesh Kharwal, Managing Director – India/South Asia & ASEAN, Cyberbit:
“A year after the Cambridge Analytica scandal, yet another data leak took place at Facebook this year. About 540 million records of Facebook users were publicly exposed to Amazon’s cloud hosting service. To give you a picture, this is about 7% of the global population when a large chunk of it is yet to digitize. The losses due to such cyber crimes are expected to reach $6 trillion by 2021 according to a report by Cybersecurity Ventures. This is when almost 60% of organizations have unfilled cybersecurity positions owing to the skill gap and 77% of leaders believe that an infrastructure breach can take place with far-reaching consequences. The need of the hour is to quickly fill this void by adopting next-generation technologies such as cybersecurity simulation & training platform to equip our nation with the required skillsets and thereby generating over 1 million jobs for the country’s youth. In a nutshell, 2020 could turn out to be a year of unbridled opportunities for India if it is able to successfully align itself in this landscape.”
Mr. Piyush Kumar Founder and CEO, Rooter:
“2019 was a great year for the Sports industry in India with a busy cricket calendar including the ICC Cricket World Cup in England for ODIs. A massive number of sports fans chose to consume their favourite sports events online, especially on their smartphones. As a result, the Indian smartphone market added nearly 100mn new users taking overall internet user base to 600mn in 2019. This presented a huge opportunity for all content platforms to engage and onboard new users. As consumption for sporting events online grew around 50% in 2019, OTT platform Hotstar engaged more than 300mn users, whereas Cricbuzz had more than 100mn users consuming its content. Sports Community Platform, Rooter also pivoted from being a gaming and content provider to a content-based community platform in 8 languages in 2019.
We identified our core audience and their needs thereby focusing on content as a core product feature to create the community. We also launched the first-ever Audio/Video user-generated tool in Sports, giving wings to millions of fans to express themselves. The user base of Rooter grew by 350% this year with more engagement and revenue base. 2020 is again lined up with a busy sports calendar starting with IPL, Euro 2020, Olympics and T20 World Cup. We want to grow bigger creating a strong value proposition for sports fans and create our own leadership space in the sports content category in India.”
Mr Ashwin Rao, Director, Limelight Networks, India:
The global wireless communications industry has begun preparing for the rollout 5G with the promise of offering consumers faster speeds that can potentially change how people and Internet of Things (IoT) enabled devices communicate. According to the State of Digital Lifestyle research report, 2019 commissioned by Limelight Networks, expectations that 5G networking will bring faster download speeds are highest in India, with 88.2 per cent expecting to see improved performance.
Mr Eric Zhou, EVP – UNISOC:
“Given the recent developments, it is likely that the year ahead will see India making several quantum leaps. To begin with, a large-scale 5G rollout is likely to come to pass in 2020, with chipset manufacturers, smartphone brands, and telecom operators taking a page out of the playbooks of 5G nations such as the China and US. This 5G adoption will also increase the network bandwidth in new-age chipsets, powering a rapid increase in the number of everyday use-cases for these cutting-edge technologies such as AI, machine learning, and edge computing.”
Mr Aakrit Vaish, CEO, Haptik:
“Conversational AI world is now driven by an entirely new concept of Intelligent Virtual Assistant solutions (IVAs), and 2020 is the year when they finally burst onto the scene. Intelligent Virtual Assistants (IVAs) are getting smarter and their increasing capability of voice assistants is accelerating their adoption in the global business landscape further. While Alexa is reported to have 50,000 skills and is used by 3500+ brands, Google’s voice support today supports more than 30 languages. Globally, IVAs have contributed to increased sales by about 67%, and have initiated 26% of all sales transactions. As per a recent report by Accenture 75%, executives believe they risk going out of business if they don’t scale.
We enter 2020, with an ever-quickening pace of life needs solutions that support diverse needs for people with short attention spans. IVA solutions have evolved to fill this need gap, and have finally reached a critical point in their acceptance and implementation.
From the pace of adoption of IVAs by organizations, It becomes obvious that enterprises are not ‘trying them out’ anymore, rather they are actively looking at them as necessary drivers of better ROI, improved customer engagement, operational efficiency, productivity boosters and an active facilitator towards achieving other organizational objectives. 2020 is the year when IVAs will become a common feature across the global entrepreneurial ecosphere, implemented as a norm rather than a novelty.”
Mr Sumit Sood – Managing Director, APAC, GlobalLogic:
“The speed and depth of recent innovations have no ancient precedent and is unsettling almost every sector on the planet. In 2019, we witnessed how technology integration positively impacted sectors from blockchain potentially revolutionizing commodity markets to more socially relevant issues such as protection of plant and animal species facing extinction and water conservation using the power of AI and ML, technologists are putting their minds to work and making tomorrow’s technology right now. Inclusive innovation at scale rather than scaling IT services today is the new moola and core of IT services. This is especially true in the area of Engineering R&D which has seen a significant surge in business, today employing 700,000 people contributing USD $24 Billion through 40 R&D captives and standalone players in India. The IT sub-sector aims to generate USD $100 Billion and employment for one million employees by the year 2025.
This shift towards building specific ER&D capabilities to use technology purposefully is already growing worldwide at a huge scale and has already now caught pace in India, witnessing a massive transformation. For the upcoming decade, while familiar subjects such as cloud computing (including everything-as-a-service, or XaaS) and artificial intelligence (AI) will continue to dominate technology headlines, 2020 could be a breakout year for “DARQ tech” (the set of new technologies – distributed ledger technology, artificial intelligence, extended reality and quantum computing).” There are also substantial new social and commercial opportunities – such as adult education, care economy, employment services – that make India ripe to be profited and take the leadership spot at the global technology stage. Today, technology can help solve real-world problems and provide opportunities for inclusive prosperity. However, in order to accelerate technological growth, the country needs to attract more foreign investment, offer tailored upskilling programs, retain home-grown talent, as well as create a favourable regulatory environment.”
Mr. Vikram Kumar, Founder and CEO Letstrack
2019 has been a great year in both the sectors i.e. tracking and auto industry. It saw the dawn of a new age of security and technology which will go on to change how GPS and services related to it are perceived. The auto industry saw a slight slump, but it didn’t deter from growing. The industry used that slump to reach out to a larger audience and educate and inform them about why they need these security devices. The fact that irrespective of the slump in Auto Industry, thieves didn’t stop targeting cars was one of the big issues that the GPS tracking industry addressed. The industry pundits forecast that the Auto Industry will rise from the slump in 2020 which means more opportunities in the industry. Though we expect the business to pick up in the second quarter of 2020, we will continue working in full gear.
Mr. Rick Tsingh, Founder & CEO, OneOneDay:
The online ad-spend numbers continued to shoot up in India in 2019. The high engagement on mobile apps and the ever-growing Internet users support fuelled the growth of newer mediums. Marketers are getting used to technology-enabled marketing and started adopting data analysis for more effective targeting and advanced segmentation. New channels and devices have offered opportunities for advertisers to connect with consumers in many ways.
Looking towards 2020, we can expect more innovative technology solutions driven by the consumer-centric approach to accelerate user experience. Technology that enhances the brand experience like AR advertising would become the next hype. Also, the shift to digital has brought connected TV advertising to the scene.
In 2020, TV streaming is expected to grow rapidly like before. Connected TV campaigns that allow brands to perform precise targeting and effectiveness measurement will be more accessible to advertisers.
Dick Bussiere, Technical Director APAC, Tenable
Over 30 billion IoT devices are projected to be connected by 2020, according to Statista Research Department. As IoT devices continue to grow exponentially in popularity, they also add an unknown amount of additional risk and complexity as they permeate both corporate and personal networks.
In 2019, we saw security cameras, printers and routers amongst other devices being compromised. These devices are typically designed to a tight cost point, use a multitude of arcane operating systems, and may never see security updates. Even worse, they may exist in networks for periods of time far longer than traditional computing devices – consider how long a network-enabled appliance may last, as an example. Add to this the emergence of 5G networking, which will only amplify the proliferation of intelligent connected devices, and increase the impact of an attack against these devices.
2020 will see the demand for stronger IoT security to protect consumers and organisations alike from growing threats. Manufacturers of IoT devices will feel the pressure to effectively bake security into the overall design from the start.
Manufacturers who prioritise the security and privacy of their connected products will enjoy a competitive advantage over those who don’t.
From HCL Team:
“As the Information Technology (IT) industry steps into the next decade, along with disruptions in both business and society through digital transformation and innovation, privacy, safety and sustainability will be few of the key game-changers. IT spend will see an increase in 2020 with growing concerns over security, technology buyers upgrading their infrastructure and a steady transition towards everything-as-a-service (XaaS), which comprises capabilities such as platform-as-a-service (PaaS) and software-as-a-service (SaaS). The next decade will also see a larger percentage of enterprises migrating to the cloud and subsequently Integrate Cloud Management— across public and private clouds — by deploying hybrid and multi-cloud technologies. The next decade will also see Edge Computing take the next big leap driven by IoT (Internet of Things) applications across industries like retail, life sciences, manufacturing, BFSI, logistics, and agriculture. In turn, this will give a boost to the Edge Cloud Service market, which is seen growing substantially in the coming few years. While 5G technology is poised to grow in the next decade, Artificial Intelligence (AI) and Machine Learning (ML) will continue to dominate the technology landscape as more enterprises will use AI-enabled speech, vision, natural language processing, and virtual reality.”
Mr. Karmesh Gupta, Co-founder, WiJungle(Cybersecurity Startup)
“2019 has turned out to be a year of Cyber Security ‘Product companies’ in comparison to the ‘Services segment’. One of the major and awaited trends shift that I have seen this year in India is the dominance of product companies over services companies in total spending. The market contribution of cybersecurity products in India has been 52.07%, accounting for it to USD 1.03B. This year total spending over Cyber Security in India has seen a jump of 19% and reached $1.97Bcomparative to $1.66B in 2018.
This change in trend has been majorly due to an increasing shift amongst organizations to invest in tailed cybersecurity technology for their specific needs. Additionally, there has been substantial growth in the adaptability of domestic products due to emphasis on data localization and Make In India. In 2020, I expect a rise in global players from India. Moreover, penetration in the SMB segment is forecasted to increase significantly because of awareness. The share of domestic product companies will increase in the total pie of cybersecurity products, subject to the execution of government policies. Data Security and Endpoint security companies are expected to observe the highest growth.”
Ms. Yogita Tulsiani, Co-founder, iXceed Solutions
The HR industry experienced a drastic change because of the alignment of the workforce in 2019. The gig economy has contributed to the major growth of companies like Uber, Ola, Deliveroo, Uber-eats as they provide their employees with the flexibility to work at the time as per their convenience. This changed the way the HR industry used to deal with the teams both in terms of hiring the candidates and engaging them. Artificial intelligence and Machine Learning technologies have become new trends in the HR industry. I am expecting AI and cognitive technologies to mature further in the year 2020. The predictive analytics will be giving powerful insights around performance, hiring trends, attrition, etc. I also see the need for talent in the startup sector with the startups increasingly becoming more successful alongside the disruption they bring to the market.
Mr. Gaurav Gupta, Co-founder, Navia Life Care- Smart Solution for healthcare providers
2019 was a very interesting year for the healthcare sector as a whole. There have been exciting things happening on a policy level, providers side (hospitals and diagnostics companies), life sciences and one the insurance side.
The Ministry of Health and Family Welfare, Government of India has come up with National Digital Health Blueprint which is an interesting step towards increasing the digital footprint in healthcare. We hope the government is going to build upon this blueprint and come up with a simple and implantable policy in the coming year.
Continuing the trend from 2018, Private Equity has shown keen interest in the hospital sector this year as well, there have been some key consolidation and M&A deals in the sector. We believe that this could bring in more efficiency in the ecosystem. This has impacted smaller neighbourhood hospitals as well, and across the ecosystem, hospitals have become significantly more open to innovative solutions to improve patient experience and patient outcomes. We hope that in 2020, the adoption of innovative solutions by hospitals increases even further so that it can benefit both patients and the hospitals.
Life Science and Pharma industry did pretty well this year. Change in the import policy by China is a promising welcome for India generic manufacturers. The industry has also made significant strides in digital health innovation with new digital devices coming in from different pharmaceutical companies.
For healthcare technology companies, 2019 has been very good. There have been quite a few large value VC-PE deals this year which has given good impetus to the sector as a whole. We believe that this momentum is going to continue for a while now and this sector will grow significantly in the coming year replicating Indian Fintech sector growth.
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