The Enterprise Technology Industry
High Tech companies are transforming at a rapid pace. This change is enabled by embracing emerging technologies, fast-paced innovation, accelerated product and services development, differentiated business models and going digital till the last mile to become part of cloud ecosystem. Notably, even the largest players — IBM, Microsoft, Google, Cisco, and others — have recognized this tectonic shift, a harbinger of what’s to come in the industry
By lowering costs and and removing adoption bottlenecks, the cloud expanded the market from millions to billions of people globally and in turn, businesses are using more apps than ever before. In fact, Okta found in their latest Business @ Work Report that large enterprises are deploying 129 apps on average. It’s therefore no surprise that software spend is expected to reach more than $420 billion in 2019 as the shift to the cloud marches on. Post the pandemic, businesses now have to prepare for all eventualities so that work can continue and workers can still remain productive and enterprise technology here plays a critical role.
With a market of that magnitude, enterprise IT no longer can be controlled by just a handful of vendors, as we saw in the 90’s. And what were once solved problems in a prior era of IT are now unsolved relative to rapidly changing user and buyer expectations in the cloud, leaving the door open for new disruptors to emerge and solve this problem better, faster, and with more focused visions.