May 17, 2020

30 day countdown: Capgemini on the opportunities of GDPR

capgemini
GDPR
Data
Big Data
Willem de Paepe
2 min
GDPR
As the deadline for GDPR continues to count down, Capgemini’s Global GDPR lead, Willem de Paepe, gives insight into how firms can capitalise on a grea...

As the deadline for GDPR continues to count down, Capgemini’s Global GDPR lead, Willem de Paepe, gives insight into how firms can capitalise on a greater access to data.

With one month to go, many organizations will be scrambling to meet the GDPR deadline, but firms should start thinking about the opportunity that an increased focus on data presents. 

Fortune 500 firms will have spent a combined $7.8bn to comply by the 25th May deadline, and now’s the time to focus on driving returns. Knowing exactly what data is held allows firms to use analytics more effectively and gain the greatest benefit from the information available to them.

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In turn, they will also know which files they must delete, freeing up valuable storage space and reducing some of the $3.3 trillion it will cost to manage data globally by 2020.”

Firms that deal well with the GDPR will also benefit from gaining more trust with customers, which could lead to increased spending.

Upcoming research from Capgemini’s Digital Transformation Institute on the GDPR indicates that consumers are willing to spend more for a better experience with respect to privacy and data security.

Alternatively, it highlights that consumers will revoke consent for the processing of personal data if they are unsure of how an organization is doing this and will stop buying from an organization if the company is not ensuring protection of their personal data.

 

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Jul 30, 2021

IoT market expected to grow due to increase in IoT use cases

IoT
Internet of Things
market growth
Catherine Gray
3 min
The Internet of Things (IoT) service market is expected to grow at a rate of 24% through 2025 according to a report by The Business Research Company

An increase in the internet of things use cases is expected to drive the IoT service market, according to the IoT Services Global Market Report 2021: COVID-10 Growth and Change to 2030.

IoT has found its use in many areas over the years. It can be used in manufacturing, farming, smart cities, transportation and in many other industries and fields.

Due to the fact it can be utilised in many industries, there is an increased need for IoT services and applications. IoT services that provide support by delivering services such as consulting, data management, network management and security services, are in much higher demand.

The impact of COVID-19 on the IoT services market

According to the report, the global IoT services market is expected to grow from $139.24 billion in 2020 to $162.39 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%.

In the coming years, the IoT managed services market size is expected to reach $381.16 billion in 2025 at a CAGR of 24%.

This growth lends itself to companies resuming operations and adapting to the new normal as we emerge and recover from the pandemic.

Previously, COVID-19 restrictions led to restrictive containment measures, remote working and the closure of commercial activities that resulted in operational challenges.

IoT use cases driving growth

The IoT services market consists of the sales of IoT services and their related products. IoT services are delivered by the IoT services providers. These providers provide consulting, security and analytics services as per the requirements of the business.

Major players in the IoT services industry are Cisco Systems, Cognizant, Google, Infosys and Tieto Corporation, to name a few.

An increase in IoT use cases is expected to drive the IoT service market; this is where IoT can be used to automate processes and increase productivity. As it has found many uses cases over the years, this increases the demand for IoT services and this is expected to drive growth.

Enhancing deployment workloads with edge or cloud computing

Despite the expected growth, low enterprise adoption is expected to hinder the IoT services market. Although IoT has its use in many industries, due to factors such as low awareness, enterprise adoption is low, the report states.

Only 29% of enterprises have adopted IoT solutions according to the Omida data survey.

Edge or cloud computing however is enhancing the deployment workload on IoT devices, according to the report. This solution facilitates data processing and data storage in the cloud.

Microsoft released its Azure IoT Edge recently. This fully managed service is built on Azure IoT Hub. By moving certain workloads to the edge of the network, businesses that utilise Microsoft’s IoT platform spend less time communicating with the cloud, react more quickly to local changes and operate reliably in extended offline periods. 

The IoT Services Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides an IoT services market overview

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