Major IT Trends Which Ruled in the Year 2017
India’s sunshine sector has considerably contributed in providing world class technologies on a global platform in 2017.
Technology in India has moved at the swifter pace in 2017 than any other year. Cloud, mobile, big data, artificial intelligence brought immense changes in the Indian IT industry. This added with Government’s initiatives to rope in technology for financial inclusions and promote a cashless economy has bolstered India’s next wave of tech growth.
India is on the verge of becoming the world’s fastest-growing mobile app, technology market where IT and tech companies, enterprise/ tech start-ups and even financial institutions are doing their best to keep up with the fast-changing times.
India’s sunshine sector has considerably contributed in providing world class technologies on a global platform in 2017. Below are the four major technology trends witnessed in India in 2017.
Big data analytics is on its course to make the Indian IT industry a billion dollar industry- 2017 has seen expansion of business analytics, wherein, mainstream as well as companies of all sizes have entered into the big data game. With an investment of over USD 28.65 billion in 2016, the investment in big data industry is expected to rise to USD 66.79 billion by the year 2021.
Technology giants like IBM, Microsoft, SAP SE, Amazon Web services have enormously expanded their services in big data this year. New innovators like Hitachi, GoodData, Palantir, MongoDB to name a few, are also making their move, taking the Indian Big Data industry to new levels.
India is currently among the top 10 big data analytics markets in the world and Nasscom has set a target of making the country one among the top three.
Artificial Intelligence and Machine Learning have increased foothold: 2017 witnessed Machine Learning and Artificial Learning come to a stronger position with more companies and consumers getting used to it for recurrent usage. Developments and upgradations in machine learning/ AI have emerged across sectors. From suggesting options for stores, based on purchase history to improving user experience, AI has also built consumer trust.
By 2017, over 800 companies in India claimed to work in some form of Artificial Intelligence. Due to the rising demand in AI, top IT companies like Accenture, Microsoft and Adobe have outsourced innovation centers for constant upgradations in the technology. This has also led to rise in demand for Knowledge Solutions Integrators for offering consultative training on application side of the upgraded versions of machine learning / AI.
Industries which have witnessed major impact in 2017 due to AI revolution are banking, finance, BPOs, Retail, healthcare and other IT industries. India is expected to pick up its pace by 50% in the development of machine learning/ AI by next year.
Augmented reality and Virtual Reality (AR and VR): India has started creating a stir in the AR/ VR industry this year. However, the sector is still the most untapped in IT domain, compared to other countries on a global platform. Growing demand in adoption of AR/ VR based products like head-up display, head-mounted display, consumer electronics is expected to drive this industry’s growth in the next couple of years. In India, the AR/ VR is projected to register a compounded annual growth rate (CAGR) of 55.3 % between 2016 and 2021 (As per reports)
The potential which the AR/VR domains hold in India is highly unimaginable. This is why companies like Facebook, Google and Microsoft are pursuing this industry so relentlessly.
Internet of Things: Internet of Things is one of the rising stars in the IT industry in 2017. It has seen significant growth in housing, healthcare, engineering and automation sector. Though much of the growth was driven by industrial automation this year, the IoT market is slowly evolving with increasing awareness amongst people.
Growing at a rate of 41%, IoT market in India will continue to grow till 2020 and beyond. High- speed wireless data, increased consumer awareness and low manufacturing cost are essential to accelerate the growth of IoT in India.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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