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Third Platform Opportunities for Business

Posted by Judye Reed on Mar 29, 2017, 10:00:00 AM
Judye Reed

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Accelerate your Tech Business by Leveraging Third Platform Technologies.
 
Your potential and existing customers are developing an insatiable appetite for data, real-time communication, and business efficiency. This need is coming from the four pillars of the third platform; mobile computing, social media, cloud, and big data. Research firm IDC says the third platform will account for 75% of the IT industry’s growth by 2020.1 To help you capitalize on this projected growth, we’ve identified three key areas where you can focus business development efforts:

IoT is the Digital Foundation for the Third Platform 

Businesses are rapidly expanding their use of IoT technology and Tech Insider predicts companies will spend almost $5 trillion in this area over the next five years and the number of IoT devices will increase to 22.5 billion in 2021.2
 
To monetize this trend, look for early industry adopters in the manufacturing, healthcare, agriculture, transportation and retail sectors. By understanding how these customers are collecting, processing, securing, and storing the data they collect from IoT—and providing integrated solutions each step of the way—you’ll be in a stronger position to maximize your revenue potential.
 
Consumer adoption is the second-fastest growing category for IoT growing at a 34% compound annual growth rate (CAGR).3 Sensors embedded in devices that feed data back to consumers has become the norm, not the exception. Partnering with companies or supplying energy management, home security, and other everyday devices puts you ahead of this digital curve and expands your product and service offering for all things IoT.

Cognitive Computing and Artificial Intelligence Take Data Beyond Human Thinking

This technology is used to analyze the massive amounts of data generated from connected devices to generate diagnostic, predictive, and prescriptive information that improves business efficiency and the customer experience.
 
This industry is predicted to grow at a CAGR of 55%, resulting in worldwide sales of more than $47 billion by 2020.4 Nearly half of all sector revenue will come from software cognitive applications and platforms.
 
Getting ahead of the industry adoption curve is critical with this evolving technology, so look for companies that are leading the way and partner with them. Early industry adopters include the banking and investment sectors who want to prevent fraud, and manufacturers who are looking to improve product quality. Industries interested in improving customer interaction include retail and healthcare.

New Generation Security is Changing Access Methodology

New security protocols and options are rapidly developing to keep up with the data tsunami created by IoT. For example, 70% of mobile consumers will access their mobile devices biometrically, either by voice or fingerprint recognition1. Given this pace of change, many of your customers may be behind the curve. By surveying your customer base for legacy systems, you’ll discover where you can offer the latest security solutions.
 
Third platform innovation will drive the majority of IT growth through 2020. By targeting the 68%1 of organizations operating with second platform IT or just starting with third platform technology, you’ll create value through innovation for your customers and grow your business with profitable solutions. To learn how Tech Data can help you capture Third Platform opportunities, click here: Tech Data

1www.idc.com/prodserv/3rd-platform/

2http://www.businessinsider.com/the-internet-of-things-2017-report-2017-1.

3www.gartner.com Forecast Analysis: Internet of Things–Endpoints, Worldwide, 2016 Update, Feb. 10, 2017. ID: G000302435.

4 Idc.com, Worldwide Semiannual Cognitive / Artificial Intelligence Systems Spending Guide.   October 26, 2016.

Tags: Third Platform

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