Mobility-first business models, the disruption of traditional financial services companies, IoT and B2B travel innovations top the list of enterprise software trends to watch in 2015, according to practice leads at DataArt, a global software development firm that works across a number of industry verticals. Heads of the company’s Financial Services, Healthcare, Travel & Hospitality, Media and IoT/M2M Consulting practices shared their predictions for 2015 in the enterprise software space.
2015 will be the year when more ‘traditional’ industries, from finance to consumer goods, will begin a more aggressive push to obtain data-driven, ultra-targeted decision making capability. We expect total spending on analytics and data visualization to at least double over the next two years in the medium-to-large enterprise sector, with focus shifting from collecting and processing data to visualization and decision support.
In 2015, mobile-only and mobile-first business models will win out:
- Companies will need to boost their investments in improving user experience (UX) and simplification, which can make or break user interfacing on mobile devices.
- The backend processing battle will heat up as more service providers enter the market with end-to-end processing solutions for payment platforms such as Apple Pay. As a result, innovation and more intelligent customer service and marketing platforms will be key for the media industry.
In the financial services sector, four key trends to watch for include:
- (Not) Reinventing the wheel, a.k.a. the age of consortia. We expect smaller banks and buy-side firms to follow the example of large financial institutions in pooling IT resources to gain competitive advantage and save costs.
- The war for talent will get brutal. We have now crossed the tipping point, and young talent is turning away from Wall Street and toward the stock-options-laden consumer internet economy, with startup kids threatening to disrupt the industry itself.
- (Web) Power to the people: the financial sector will finally catch up with the rest of the world and focus on enterprise user interface modernization, with the end-user rather than the intermediary in mind. Intuitive. Real time. Only five years late.
- The squeeze in the middle will lead to more, and better, outsourcing. Technology will be key.
2015 will truly be the year of IoT:
- Lowered barriers to entry will enable smaller firms to finally get a foot in the door.
- Big Data becomes critical to derive information from IoT in the wake of rapidly growing data volumes.
- In the consumer sphere, pattern-based recognition will continue to wash over home automation, touching on home systems such as electricity and water use.
- Advancements in smartphone car integration will safely bring the smartphone to virtually all aspects of everyday life, while healthcare IoT wearables will enter a race for dominance and delivery of next generation care.
In Travel, meta-search and B2B tech offerings will make OTA travel competition hot:
- A new distribution price war could also emerge early next year following Amazon’s launch of its travel initiatives. The sharing economy is set to remain a battleground as ongoing challenges for services like Uber and AirBNB rage on and companies look to cater more to changing consumer behavior and expectations.
Regulation will continue to hang heavy over healthcare in 2015, but the wellness industry will boom:
- Quantified Self movement will gain popularity and attract an increasing number of entrepreneurs into the industry.
- Patient engagement will be pushed to the next level as the industry moves toward considerations of telehealth to offer patients faster access to care with improved outcomes and reduced costs.
- Genomics and infectious disease diagnostics will also be revolutionized by advancements in diagnostic techniques, leading to lowered risk management in the space.
“A lot of enterprise software capabilities that have emerged in 2014 are currently positioned to throw a number of industries into intense competition in 2015,” said Eugene Goland, President of DataArt. “Everything from IoT solution development and mobile-first business models to financial IT technology innovations. Mobility will be huge and competition in the connected devices arena will get particularly hot, especially with the pending launch of Apple watch and related technologies next year. The mobile payments space will experience a similar story as companies look to innovate ways to cut into Apple Pay’s anticipated hold on the market.”