Wearables are poised for double-digit growth. Services for enterprise video surveillance could be a multi-billion-dollar business. And most companies aren’t yet ready for business intelligence.
That’s some of the latest intel from leading market-research firms. Here’s your tech provider’s update.
Wearables: double-digit growth
Wearable devices are in for a wild ride. Over the 5 years from 2018 to 2022, global shipments of these devices will rise at a compound annual growth rate (CAGR) of 11%, predicts market watcher IDC.
If correct, that would mean global shipments in 2022 of nearly 190 million wearable devices. By comparison, IDC expects “only” 125.3 million wearables units will be shipped this year.
But even this year’s figure is not too shabby. It represents a unit-shipments rise from last year of 8.5%.
Driving the growth will be a big shift from basic watch wearables to smart watch wearables, IDC says. These smarter devices will run mainly on WatchOS and Android, as well as on proprietary platforms from Fitbit, Garmin and others.
Unit shipments of another market segment, wristband devices, will grow by less than 1% a year through 2022, IDC expects. But these devices will still account for nearly a quarter of the overall wearables market, shipping 47 million units by 2022.
Earwear is another category that, though still small, is growing fast. IDC expects these devices — which include wireless headphones — will account for less than 2% of all wearable devices shipped this year. But by 2022, IDC believes, earware’s share should more than triple to nearly 7%. You heard it here first.
Enterprise video surveillance: a market to watch
Keep an eye on video surveillance. Users are moving quickly to IP camera systems with edge and on-device analytics capabilities. And according to a new report from advisory firm ABI Research, that’s a good business proposition for solution providers.
ABI predicts that nearly 350 million enterprise video-surveillance camera connections will be in place by 2023. The real money, however, may be in related value-added services. ABI believes those could be worth $12 billion.
“Success within IoT,” says ABI research analyst Ryan Harbison, “is largely dependent on the ability of providers to create highly specialized, value-added solutions based on clearly defined use cases supported by market demand.”
One such solution, ABI suggests, could be Video Surveillance as a Service (VSaaS). This integrates video-surveillance systems with other systems, including access control and intruder alarms. Here’s a market that bears watching.
BI and analytics: immature
Nearly 90% of organizations are still immature when it comes to business intelligence (BI) and data analytics, finds a new survey by advisory firm Gartner. This immaturity can stop organizations from both increasing the value of their data and using new technologies such as machine learning.
Immaturity, in this case, mainly means having a primitive or aging IT infrastructure, limited collaboration between IT and business users, and BI functionality based mainly on reporting, Gartner says.
Have a client who’d like to gain BI maturity? Gartner says these 4 steps can help:
1. Develop a holistic strategy. Include goals from both IT and the business. And given today’s fast-changing environment, view this strategy not as a once-and-done project, but as a continuous and dynamic process.
2. Make the organization more flexible. Resources are limited, so companies need to get creative. For example, create virtual BI teams with both IT and business-unit members.
3. Implement data governance. The new rules of the game, governance supports business objectives and enables a company to balance big-data risks and opportunities.
4. Create integrated analytics platforms. Extend the current infrastructure — typically older ERP systems and reporting tools — to include more modern analytics.
Big data is growing up. Make sure your clients’ BI skills are, too.