Usually when the word SCAM is included within the same context as Information Technology is, it refers to some kind of malicious code or nefarious activities. However IT companies are actually relying heavily, on a new kind of SCAM, to drive their businesses higher in the coming year.
Social Networking, Cloud Services, Analytics and Mobile Computing, or collectively termed as SCAM, is the rapid convergence of multiple physical and virtual technologies that will collectively account for almost 90% of New Technology Spending Growth in 2014, suggested research firm IDC.
Essentially what IDC is implying is that consumers and companies alike have shifted their pattern from in-house hardware and technology to remotely hosted services. Additionally, even the large corporations no longer have an avid fear of social networking. On the contrary, companies are embracing social networking as a very effective way to enhance internal communications between employees, as well achieve a higher degree of customer engagement.
Another prominent research firm Gartner, has supported this notion and trend by terming SCAM a ‘Nexus of Forces’. Though the company wasn’t referring to the Google’s line-up of Android smartphones, it expects SCAM business to be worth US$ 104 Billion, contributing about 25% of business software revenue by 2017. At present, spending on SCAM associated technologies is merely 10%. “While the shift to SCAM has been happening for the past three to four years, the business opportunity is becoming real and bigger due to adoption of smartphones and mobile internet usage.” commented Naveen Mishra, Research Director, Gartner India.
We had recently learnt how Internet of Things was going to be a huge phenomenon. In the same note, by 2015 there will be 5 Billion mobile devices, and mobile app revenues alone, would be US$ 52 Billion. Social media will have 1.5 Billion users globally. This would constitute a US$ 34 Billion opportunity.
The SCAM related opportunities were hereto just ‘Peripheral’. But companies are now gradually warming-up to the concept of interactive and shared communication that is driven by remotely hosted technologies. We just hope that this boom in SCAM, doesn’t fuel the rise in the ill-intended scams. What do you think?
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