The last couple of years have put enterprise connectivity teams to the test. The pandemic and ensuing switch to remote working, the rise in geopolitical conflicts and escalating security concerns and the ongoing climate of economic uncertainty have taken their toll on both enterprise connectivity budgets and resources.
As a result, focus on digital transformation and maximising use of new technologies to boost enterprise networks, data usage and communications has been held back. While economic and geopolitical unease continues, we envisage 2024 as the year in which enterprises across sectors will put their core needs at the heart of their operations and source technology solutions from best-of-breed providers that respond to their specific and vertical sector requirements to deliver competitive edge and drive growth. But how exactly are they doing this and what are the key trends we can expect to see this year?
#1: Data is king but data analysis the crown jewels
Data continues to see unabashed growth. An important driver of this growth is the rise in automated processes and the deployment of more and more connected devices, such as smart meters, medical devices, Augmented Reality (AR) glasses, drones, smart cameras, smart waste, air quality monitors, video surveillance and IoT devices used for traffic management. According to Frost & Sullivan, 2023 saw over 41 billion active IoT-connected devices, a huge 18 percent growth on the previous year. As a result, an unprecedented volume of data (zettabytes) is being generated – but for this data to deliver any value, it needs to be sorted, categorised and analysed.
This is no easy feat as data needs to be drawn from across diverse departments and organisations which operate in silos and on different data platforms. For example, in healthcare, to improve patient care, data often needs to be gathered and evaluated from hospital records (potentially from more than one department), GP notes, medical devices, chemists and in some cases other third parties such as social services. We are seeing increased demand from across vertical sectors for disruptive solutions which help to break down these data silos. Customers are seeking solutions that can extract and manage the flow of data between sources to securely deliver meaningful data to decision makers so they can act on this information.
Another important trend this year will be the ongoing integration of operational technology (OT) with IT systems. In industries such smart building, transportation, energy & utilities and manufacturing, the convergence of these domains is reshaping the way organisations operate. By merging OT and IT systems, organisations can gather real-time data from operational processes, which have not traditionally been integrated with IT, allowing them not only to make more informed, more timely decisions but also to improve quality control and supply chain management. For example, buildings today use a lot of electro-mechanical systems such as air handling, chillers or pumps. Industrial IoT is now able to use a building’s WiFi and LAN network to on-board and transmit the data generated by the sensors to the BMS (Building Management System).
#2: Best-of-breed personalised connectivity solutions in demand
Every sector today has its own set of challenges and opportunities and every business within those sectors has its own connectivity needs. While big tech players are playing a key role in driving awareness of new applications and technologies, when it comes to enterprise communications, customers are increasingly looking for best-in-breed technology solutions from trusted providers which can respond to their unique requirements. Customers are not expecting their communications provider to single-handedly provide every part of their bespoke end-to-end offering themselves, but rather to collaborate with niche industry experts such as providers of specialist medical devices or laboratory data analysts to provide the best possible solution. 2024 looks set to see an increasing demand for tailored communications solutions and providers that team up with expert industry specialists will be best placed to deliver these.
#3: Cybersecurity now a key priority
Cyberattacks have escalated dramatically in recent years. An estimated 2,200 cyber-attacks are carried out every day and according to Cybersecurity Ventures, the global annual cost of cybercrime is predicted to reach $9.5 trillion USD this year. Cyber criminals are also focusing their attention to mid and small-sized companies with smaller security budgets which are seen as weaker targets than larger enterprises. With investment in cybersecurity widely acknowledged as a small price to pay for peace of mind against a potentially financially-crippling attack, 2024 will therefore see both large and small enterprises ramp up their security efforts and ensure compliance with security regulations.
This year will also see some enterprises contemplating the use of advanced technologies such as AI to minimise security threats. AI is enabling rapid progress in automation and business intelligence, although it also provides hackers with a useful tool in seeking or creating security vulnerabilities, so it needs to be deployed diligently. In the context of a network, predictive AI, which is broadly the ability to learn from past events and predict future ones using the capabilities of machine learning, is proving to be an intelligent tool that makes the network more autonomous, operating with minimal or no human intervention. 2024 will surely see significant adoption of predictive AI as IT mangers seek intelligent tools to quickly help them identify and mitigate risks and prevent cyberattacks and losses.
#4: Time to reconsider cloud options
During the pandemic we witnessed organisations across enterprises flock to the cloud as a means of sharing information with a remote workforce. But wider macro issues are bringing enterprises to reconsider the cloud options open to them. For some, As-a-service cloud will be the most flexible and cost-effective option. For other companies concerned about their data sovereignty and compliance or fearful of losing control over their data, on-premises offers the greatest level of assurance. Many organisations, including government and healthcare may choose to implement hybrid cloud systems where the most mission-critical information is stored on premises and all other data stored in cloud. Data storage has become a critical consideration and each organisation must evaluate the best solution for their needs.
Against a tense geopolitical backdrop and technological challenges, 2024 will see an increasing focus on ensuring networking and connectivity technology responds to individual needs of each organisation. We also expect to see numerous technological and environmental regulations being introduced that will provide guidance to organisations looking to digitally transition in order to drive growth and achieve competitive edge.
