Emerging technologies to create $1 billion in new revenue streams in the South African ICT market, Frost & Sullivan report
Frost & Sullivan's latest analysis, South African ICT Outlook 2018, finds emerging technologies such as augmented reality, virtual reality, Fintech, and the adoption of Internet of Things (IoT) and artificial intelligence (AI) are disrupting the ICT industry in South Africa.
As a result, telecommunications providers will use innovation as the springboard to offer mobile application-based services such as mCommerce, mAgriculture, connected services, mLearning, mHealth, and ride-hailing, in addition to end-to-end IoT, cloud, and digital entertainment services.
Frost & Sullivan is expecting enterprise resource planning (ERP) in cloud, flash storage cloud-based mobile applications, non-core outsourcing, business intelligence, and data analytics to create about $1,140 million in new revenue opportunities for ICT participants by the end of this year. Frost & Sullivan's analysis offers our experts' top predictions for South Africa's ICT market in 2018, along with key technologies, business models, revenues by market, and leading companies to watch.
Trends and growth opportunities in industry sectors such as telecommunications, broadcasting, data centre, cloud, IT, BPM, IoT and AI, plus emerging technologies such as augmented reality, virtual reality, and Fintech, are also provided.
"Mobile data-driven models will revolutionise the telecommunications market, while disaster recovery as a service (DRaaS), ERP as a service, and managed security as service models will transform the cloud market," said Deepti Dhinakaran, Information and Communication Technologies Senior Research Analyst at Frost & Sullivan. "Furthermore, AI, digital workplace, and 3D printing will revamp the IT services market with chatbot altering the business process management (BPM) market landscape. ICT providers should offer these products and services to harness growth opportunities and capture new revenue streams."
Dhinakaran recommends participants emulate innovative companies such as Telkom, MTN, Vodacom, Dimension Data, IBM, and T-Systems, which have innovatively diversified through a series of smart partnerships and acquisitions to provide services across multiple ICT sectors.