Deloitte today released its “2021 Technology, Media & Telecommunications (TMT) Predictions,” which highlights how worldwide trends in TMT may affect businesses and consumers worldwide. In addition, the report highlights how many of these trends are being driven by the global pandemic’s economic and societal impacts, resulting in growth for cloud technologies, the intelligent edge, media segments such as sports and the shift to telemedicine.
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“If we’ve learned anything during this challenging year, it’s how critical technology, telecom, media, and entertainment innovation is for business continuity, keeping in touch with friends and family, appreciating new ways to entertain and learn, and taking care of our health,” said Kevin Westcott, vice chairman and U.S. Technology, Media & Telecom leader, Deloitte LLP. ”
The pandemic will continue to shape business strategies in 2021, and consumers will expect faster, more reliable and safer user experiences. TMT companies that can address these customer needs, while rebuilding their industries for growth, will likely emerge as leaders next year and beyond.”
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The pandemic drives cloud growth
By some metrics, the cloud market grew even faster in 2020 than in 2019. According to the TMT Predictions report, this was driven by increased demand due to COVID-19, lockdowns and the work-from-anywhere business environment. Deloitte predicts that revenue growth will remain greater than 30% for 2021 through 2025 as companies migrate to the cloud to save money, become more agile and drive innovation.
Unleashing Industry 4.0 with the intelligent edge
The intelligent edge—the combination of advanced wireless connectivity, compact processing power and AI, and located near devices that use and generate data—is already animating some of the largest technology and communications companies on the planet.
Deloitte predicts that in 2021, the global market for the intelligent edge will reach $12 billion, continuing a CAGR of around 35%. That increase is being driven primarily by telecommunications companies and their expanding 5G networks, along with hyperscale cloud providers. These highly capitalized, trailblazing leaders may make it easier for companies across multiple industries to attain the intelligent edge.
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