Top Analytics Technologies for 2024-2025
August 05, 2024As we enter 2024 and shift our focus to 2025, the technological environment is changing quickly due to advancements and new trends. The leading technologies are essential for companies, programmers, and leaders aiming to remain innovative. Analytics is significant in this process, providing information on the technologies that are becoming popular, how they are being utilized, and their effects in different sectors.
The top three spots are cybersecurity, process automation, and IT software, which includes enterprise resource planning (ERP) and customer relationship management (CRM). It is anticipated that these priorities will continue to take the lead in 2025.
Top-demand technologies among enterprises in 2024
1. Cybersecurity
Cybersecurity has remained in the number one position for the fourth year in a row, staying at the top spot since 2021, when it moved up from third place in 2019. IoT analytics mainly concentrates on cybersecurity for connected IoT devices and operational assets, with a significant portion of its research dedicated to these specific areas.
In every part of the world, cybersecurity was consistently rated as the primary focus in enterprise technology for companies implementing IoT software in 2023, with mid-sized and multinational companies around the world typically considering it a top priority.
84% of companies chose to custom-build their IoT solutions for enterprise projects because they believed that IT security concerns could be more effectively managed that way, according to the end-user's perspective. 100% of companies that implemented off-the-shelf IoT solutions and hired a systems integrator stated that a strong security track record or reputation was vital.
2. Process automation
Automation in operations is still the second most important focus. Process automation was integrated in leading from 2022-2023 and has held the second position consistently. This trend highlights the important position of IoT in industrial automation, transforming manufacturing processes, supply chain management, and operational efficiency with smart sensors, interconnected machinery, and data-driven decision-making.
In 2023, North American and APAC companies rated process automation as the second most important technology, compared to European companies, which rated it fifth. Moreover, small-to-medium enterprises ranked process automation as their top priority.
Additionally, from 2021 to 2024, the percentage of businesses that experienced a favorable return on investment following the adoption of process automation increased from 96.7% to 98.1%, demonstrating the significant importance companies place on it.
3. IT hardware
Senior IT decision-makers have ranked IT software as their third highest priority in 2024, maintaining its status as a top tech priority, but in 2019, IT was at the top. Amid the pandemic, IT software projects were delayed but are now resuming and gaining importance again. This change has happened alongside an increasing emphasis on IoT hardware, which is essential for modern IoT systems as it allows for connections and gathering of data from different devices.
When examining the adoption of software at various IoT infrastructure levels, 41% of companies purchasing IT software chose Microsoft, with AWS and Google chosen by 22% and 11% of companies, respectively. As businesses invest more in IoT hardware, the integration of these devices with strong IT software solutions is increasingly essential to enhance performance and guarantee smooth data flow within networks.
Software acquisition is undergoing a fundamental change. Frequently, IT software is purchased directly from vendors, but a new trend in the B2B software marketplace is emerging. Marketplaces represented 1.8% of enterprise software purchases through procurement channels in 2023. It is anticipated that this will increase to almost 10% by 2030.
4. AI/ML
AI and machine learning, including generative AI, are predicted to move up from the 8th spot in technology priority in 2024 to the 4th spot by 2025. Ever since ChatGPT became available to the public in late 2022, there has been a significant focus on AI, leading to the anticipation that it will be among the top 5 by 2024. Still, numerous companies are enthusiastic about moving forward with AI projects but frequently realize they must first handle other technological requirements or lay a strong groundwork for successful AI integration.
An example of this evolution can be seen in the merging of AI and the IoT, commonly known as AIoT. This merging combines AI's data-driven decision-making abilities with IoT devices' connectivity and sensor-driven data collection. It is important to grasp the distinction between AI and IoT: whereas IoT centers on linking devices and gathering data, AI involves analyzing and deriving meaning from the data to enable smart decisions. This collaboration can result in enhanced, automated procedures and creative applications in diverse sectors.
Frequently, additional technological components must be established before implementing and utilizing AI, including a data management plan along with the necessary software and infrastructure needs.
The market for generative AI is poised for significant expansion. As other technology needs are met, AI is expected to become more prioritized, in light of the anticipated increase in market demand. The foundational models or platforms and generative AI services markets are expected to grow at a compound annual growth rate (CAGR) of 63% and 37%, respectively.
5. IoT
IoT is considered the fifth most important tech priority for 2025 rounding out the top five. In the last five years, there has been a noticeable increase in IoT, climbing up from the 10th position. Based on data, enterprise IoT spending is projected to have a compound annual growth rate of 15% by 2030.
During the first quarter of 2024, cellular IoT modules saw growth for the first time in four quarters, driven by rising demand in China and the ongoing popularity of 5G and LTE Cat-1 bis modules globally.
IoT software options are gaining more traction in hyperscaler and edge marketplaces. The emergence of B2B marketplaces has presented companies with fresh avenues to acquire IoT software, with numerous applications necessitating connections to cloud services for functions like data storage, analysis, and visualization. In the same way, edge platforms are becoming more popular because they can minimize delays, assist in offline tasks, and tailor edge gadgets.
Questions for technology adopters
Matching the technology roadmap with organizational priorities
What steps can we take to ensure that our technology strategy stays in line with the changing focus of businesses on cybersecurity, automation, and AI/ML to remain flexible and competitive in the industry?
Getting ready for the implementation of AI/ML
What fundamental actions should we currently be taking to ensure our data management strategy and infrastructure are ready for a successful AI implementation as AI/ML becomes more important?
Security measures to protect against cyber threats
What steps can we take to enhance our cybersecurity and prevent any unauthorized access to our organization?
Automation of processes
Which processes in our organization would benefit most from automation, and how can we incorporate IoT to improve productivity and accuracy in those areas?
Conclusion
Looking ahead to 2024 and 2025, it is evident that technology will persist in progressing and transforming different sectors. Examining leading technologies provides important information on which advancements will lead the market and impact business operations and strategies. Cybersecurity continues to be of utmost importance, underscoring the ongoing necessity to safeguard data and systems in a world that is becoming more and more digital. The increasing popularity of IoT technology highlights its significance in developing interconnected systems that boost efficiency and innovation.
The upcoming years will be characterized by substantial progress in technology and changes in strategy. Businesses can effectively navigate evolving technologies and stay innovative and successful by embracing and understanding the top technologies of 2024 and 2025.
