7 February 2013
DataArt Forecasts 2013 Enterprise Software Market Predictions
Big Data Storage enhancements, 3D data visualization and the growth of alternative marketplaces are among the top trends forecasted by practice leads at DataArt, a custom software development company that builds advanced solutions for select industries. Experts from Financial Services, Healthcare, Clean Tech, Travel & Hospitality, Mobile, and Cloud Computing shared their predictions based on customer feedback and industry research of this year’s major areas of expansion and focus for enterprise development. Predictions for 2013 include:
- Big Data storage access to increase: The increase of tools and enhancements will ease the use of Big Data storage and computation technologies for developers. Full text search and map reduce computations will be utilized actively in small data areas, previously labelled as Big Data technologies.
- The value of analytics to strengthen: As more businesses universally accept the use of analytics, the use of Natural Language Processing, information retrieval, semantics analysis and machine learning, GEO location analysis and speech recognition will further drive innovation in all industries.
- Data Visualization to increase: The use of 3D data visualization will increase to assist with analyzing and making better use of analytics, along with WebGL technologies continuing to evolve. The adoption of 3D printing is also set to increase and revolutionize healthcare and manufacturing.
- Mobile broadband to increase cloud adoption: The increased usage of mobile devices with broadband internet access will drive applications to adopt the cloud for data storage and processing. This will result in more mobile devices handling compute-intensive tasks by leveraging cloud services and full-scale computer vision capabilities to users.
- Growth in Machine to Machine (M2M) technology: There will be a shift in tools to develop for embedded devices, including better APIs, less complex programming languages and easier to use general programming skills. This, and the increase in overall mobile usage, will cause a greater push to M2M technologies; involving embedded, cloud and mobile.
- Finance to increase technology adoption: Fund managers, researchers and algorithmic traders will ramp up their investment in cloud and Big Data technologies, using them for their data management and analysis activities in 2013. Both new and existing market data vendors will begin offering an array of historical data that is pre-packaged with cloud hosting services for firms' computation-heavy tasks, including areas such as firm-wide risk and strategy back-testing. Fund administrators and other service providers may also join, thanks to their unique relationship with clients.
- Growth of alternative marketplaces: The market share of the traditional ways to trade, including both public exchanges and dealer markets, will further diminish. In equities, the volume of off-exchange execution via dark pools and other vehicles is expected to reach new historical highs. The fixed income world will also continue to experiment with various kinds of all-electronic trading platforms. The commissions of exchanges and established sell-side players will continue to shrink, requiring them to cut costs.
- Healthcare technology to increase innovation: With Personal Health Records (PHRs) becoming generally accepted and initiatives such as BlueButton making it easier to download and share medical records with different medical and insurance providers, the market will flourish with new mobile apps. Big Data companies will use data-mining and data analytic developments in healthcare to track certain patterns and interconnections to display personalized recommendations to the end user. 3D printing is on the way to becoming a mainstream technology for manufacturing medical components.
“Mobile computing will be reenergized in 2013, as new applications, more intuitive experiences and advances in everyday use are set to be introduced,” said Eugene Goland, President of DataArt. “This will also be the year that technology start-ups take advantage of market opportunities and introduce mobile innovations such as natural user interfaces, augmented reality and image recognition. We expect a growth in opportunities across the enterprise software space, including new hardware, with a push for innovative machine to machine technologies.”