"They will also seek to add business value by working with other employees and stakeholders to integrate new services and processes into their businesses. Today's developers and technical professionals will be forced to focus on ways that their skills can be used to foster innovation within diverse business activities," continued Milroy.
The use of new technologies also lowers the barriers to entry for many markets. A clear trend has emerged over the past several years whereby IT firms seek to control and manage the complete user experience.
Milroy said, "Apple has illustrated this by entering first the music industry and now multiple media industries. Google and Amazon have similarly shown little respect to the boundaries between industries. They have succeeded in switching between industries by leveraging new technologies."
Infrastructure software and hardware products have become commodities. According to Milroy, growth in these markets will come largely from acquisitions. A growing number of independent IT vendors will struggle to survive as it becomes extremely difficult to differentiate their offerings. Today's large IT vendors can be expected to acquire remaining point solution vendors that provide differentiated offerings.He continued, "There will also be fewer remaining large IT vendors, as they compete with each other for a greater share of shrinking markets for their traditional products and services. The market will be dominated by a handful of technology titans by 2014. These enormous firms will engineer the ability to enter new industries." "Technology is destroying the traditional boundaries between industries. Some of the world's most successful firms such as Amazon, Google and Apple recognize this. These firms use their brands, their customer relationships and their 'state of the art' technology to seamlessly move from one industry to another, 'terrorizing' incumbents in the process," said Milroy. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion Media Contacts: Donna Jeremiah Corporate Communications, Asia Pacific P: +61 (02) 8247 8927 E: firstname.lastname@example.org SOURCE Frost & Sullivan