BearingPoint Inc.
07/17/2024 | Press release | Distributed by Public on 07/16/2024 23:59
BearingPoint releases top tech trends and market insights in B2B software study
The new report highlights tech trends such as technology convergence, AI, and infrastructure innovation, as well as market trends transforming demand patterns and creating new opportunities for software providers.
Amsterdam, July 17, 2024 - BearingPoint, a leading management and technology consultancy, has released an in-depth study titled "New Technology - The future will be even faster" that analyzes emerging trends, technological advancements, and strategic priorities reshaping the B2B software market. The comprehensive report reveals the transformative trends and strategies redefining the market and is based on insights from over 100 international software experts and extensive data analysis, offering a holistic vision of the industry's landscape.
Our study not only highlights the critical trends reshaping the B2B software market but also delves into the strategic responses required to harness these opportunities. As technology convergence and AI dominate the innovation landscape, businesses must navigate these changes with agility and foresight to drive future success. The insights from our study highlight the unprecedented pace of change in the B2B software market. Our findings underscore the importance of strategic agility and the need for companies to adapt to new technological advancements as swiftly as possible if they want to stay competitive.
Marcel Tietjen, Partner at BearingPoint and author of the study
Key technology trends shaping the future
The study identifies several pivotal technology trends redefining the business landscape and providing substantial growth opportunities for B2B software firms. The top three are:
- Technology convergence (95%): Technology convergence tops the list, with 95% of surveyed software managers recognizing its potential. The trend, which describes bringing previously unrelated technologies together or even unifying them to create new applications, accelerates technological progress and opens new business avenues.
- Artificial intelligence (89%): Artificial intelligence is right behind, with 89% of respondents viewing it as a significant business opportunity. AI technologies enable computers to mimic human thinking and learning, which is essential for advanced data analytics, automation, and enhanced customer experiences.
- Infrastructure innovation (81%): Advancements in computing and communications infrastructure, including optical computing, nanocomputing, and DNA data storage, are making systems more robust, miniaturized, and energy-efficient. These innovations are crucial enablers for new applications.
Market trends driving demand
The report also highlights key market trends that are transforming demand patterns and creating new opportunities for software providers:
- Industry ecosystem clouds (88%): Industry ecosystem clouds are emerging as a primary demand driver, facilitating industry-specific business processes and fostering collaboration between user industries and technology partners. These clouds present a significant growth opportunity for software providers.
- Industry convergence (80%): The blurring of boundaries between industry segments leads to new collaborations and innovations. For example, telecommunication providers are now offering software solutions, and technology companies are building their own networks, driving the trend of industry convergence.
- Vertical applications (79%): The rise of verticalization is pushing the development of specialized software solutions tailored for specific industries. This trend is driven by the need for more capabilities than those offered by standardized software, providing software firms with unique opportunities to cater to niche markets.
Patterns in perception: Software providers' views
The study reveals a generally positive outlook among software providers regarding business prospects tied to these trends. Here are some notable perceptions:
- High opportunity scores: Expectations for trends becoming significant business opportunities within the next three years are increasing three to four times on average compared to today's assessments. For specific trends and segments, the increase is even tenfold.
- Marginal risk perception: While opportunities are on the rise, the perceived risks are relatively low, mainly linked to the challenges of implementing necessary changes to realize these benefits. Overall, the risk score across trends remains minimal at only 2.5%.
The market outlook varies by product segment, with infrastructure software providers and deep tech software companies expressing the most favorable business expectations. These segments are expected to benefit significantly from ongoing trends, including the growing integration of software in industrial components.
Download the study
The report includes detailed visualizations and data charts illustrating the rapid rise of high-opportunity trends and the minimal associated risks, providing a clear roadmap for strategic planning. It concludes with a balanced view of the input needed and the expected outcomes, offering an approximation of the quantifiable effects based on current industry uncertainties.
Download "New Technology - The future will be even faster" for more details about the critical trends and strategies shaping the B2B software industry.
About BearingPoint
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.
BearingPoint's clients include many of the world's leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
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