Technology, media and telecoms – a sea change is coming
As business moves to the cloud and we rely increasingly on digital devices, the TMT industry continues to innovate.
Three years ago, nobody could have foreseen the revolution in working practices that Covid would kickstart. Today, 75% of companies now see the cloud as an essential technology to implement and they are acting on that imperative.
This is backed up by state funding too. A large amount of the EU’s €75bn post-pandemic recovery package is about to funnelled into the technology, media and telecommunications (TMT) sector to ensure the basic infrastructure can be up to scratch.
As well as directly benefiting TMT companies, this influx of cash and demand is stimulating innovation in sub-sectors such as data management and analysis.
At the same time, the sheer volume of connected devices, from mobile phones to smart speakers and smart appliances, means the connectivity revolution that has long been talked about has truly arrived.
The TMT industry will join up our single devices into one clever system that promises a sea change in everything from transport to education. All this will be backed by a shift from 5G to 6G networks – and then on to a radically new technology that promises to manage network demand.
Widespread cloud architecture
Rapid adoption of the cloud is a popular post-pandemic exit strategy for businesses looking to make their operations smarter, safer and more joined up.
Healthcare and retail in particular are adopting cloud technologies to make their operations futureproof and enable their business to be conducted everywhere and at any time, rather than in a bricks and mortar office during standard hours.
The internet of things (IoT) interacts with the cloud to support further expansion of remote work, making connectivity a critical factor of cloud transformation.
This new setup generates a need for new network technologies and services that can support high demand levels. Artificial intelligence will play a key role in the rollout of these new networks, ensuring they are reliable, resourceful and secure.
Big data interoperability
Globally, the big data analytics (BDA) market is expected to reach $68.1bn in 2025. This is because the cloud, as well as facilitating new working processes, will enable businesses to store larger volumes of useful data than ever before. Using analytics to squeeze knowledge out of this data is central to business planning and the route to new opportunities and growth.
Cloud service providers such as Amazon, Alphabet and Microsoft are already gearing up to provide data analytics services as part of their offerings.
Insights-as-a-service and analytics-as-a-service models are emerging as new ways to deliver the big data benefit to companies without the need to build entire in-house teams for data processing and interpretation.
High-capacity and high-security networks
By 2030, 200bn devices are expected to be connected globally. To support the sheer volume of online operations in the business and personal spheres, wireless networks will have to get faster, smarter and more secure.
We will move from 5G through to an intermittent stage of 6G before embracing cognitive radio, a technology designed to manage network demand and keep us all online consistently, even at times of high demand.
At the same time, cybersecurity will be ever more important. Our new in-home devices will also be windows into our personal lives for criminals to exploit. Spending on measures to manage and mitigate the threats to security from our devices will rise to $307bn by 2030.
There will be plenty of benefits to this new, hyperconnected way of life. School 4.0, having learned the lessons of the Covid-19 pandemic, will make use of cloud connectivity to ensure nothing will disrupt learning in the future.
Our new powerful networks will also revolutionise transport. Autonomous shared transportation and newer, more convenient vehicle subscription services and hailing apps will be a new norm. Intelligent transportation systems will deliver faster, more reliable, safer and more cost-efficient commutes.
Our new network capability will also extend Earth observation capabilities to make the sector grow to $43.2b in 2030, helping governments gain real-time, birds-eye-view observation capabilities that will help them plan spending on services.
The TMT industry is at the forefront of a great number of changes that will affect both business and the individual. It is looking forward to a smarter, more joined up future in which we make the most of our time and resources.
Read the full report on trends in the technology, media and telecommunications industry.