Rise in digital adoption by consumers is going to inevitably lead to the convergence of new age technologies, indicates the KPMG report launched at the NASSCOM India Leadership Forum 2013, yesterday.
Digital Wave
"A rapid increase in digital consumerism will be seen in the coming decade and we are already witnessing micro-segmentation of customers and product & services being tailored at individual level. IT vendors need to work closely with their customers and come up with platforms that can take advantage of the convergence of the technologies," said Pradeep Udhas, Head IT/ITes, KPMG in India.
He further added, "IT vendors really need to listen to the end customers while innovating or developing solutions and products. The emphasis needs to be on tapping inputs from various channels, mediums and devices and using these as critical inputs for new solutions and incremental innovations.
Industry bodies can also play a vital role in this, and increase Digital Consumerism, a game changer for India The next wave of growth will emerge from convergence of disruptive technologies awareness about convergence of technological trends."
Digitally active consumers have embraced the internet, telecom, media, and social space; changing the way they communicate, transact and make purchase decisions, thus leading to the birth of an era of digital consumerism, the report states. Rise in the number consumers who shop online, seek recommendations and interact with brands presents a tremendous opportunity for companies.
Disruptive Technology
While technologies such as big data and cloud have been dominating the imagination of enterprises for the past couple of years, new disruptive trends like augmented reality and social media have only now started having a tangible presence.
The maturity curve of these technologies is estimated to increase at a rapid pace over the next decade, with big data and cloud estimated to reach a market potential of tens of billions of dollars. KPMG in India estimates that the future of ITITeS players in India and globally is dependent on how fast they adapt to the changes in customer demand.
There needs to be a strategic shift in solution offerings and supportive ecosystem going forward wherein vendors provide not just the standard core industry platforms, but also think ahead of the curve Krishnakumar Natarajan, Vice Chairman, NASSCOM, opined, "If the first 20 years the efforts were to make towards driving efficiency, now consumerisation of enterprises is happening. The line between official and personal work is blurring. Convergence of some of the segments is dependent on how we can leverage on IT. How we will capture the new markets will make a huge difference."
On a final note
The sheer size of the government sector can drive the growth of emerging technologies and since the government interacts with almost all the stakeholders in an economy all the disruptive technologies find utility in one way or the other.