May
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‘Cool Vendors’ embracing the cloud and other innovative solutions

‘Cool Vendors’ embracing the cloud and other innovative solutions

May 26
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The greater information technology (IT) landscape is being driven by many innovative options, such as cloud computing, mobility, social and information solutions, creating what Gartner dubs the “Nexus of Forces.” The research firm recently said that 2013’s list of Cool Vendors will undoubtedly focus on ways to leverage these technologies.

“Many of these providers are exploiting the Nexus of Forces and are signposts of the creation of a new world order in the IT and technology markets. The phrase, ‘new world order’ carries with it promise, threat, risk and opportunity,” said Daryl Plummer, Gartner managing vice president and fellow.

Cool Vendors are small service providers that offer innovative solutions, according to the research firm. Plummer added that these companies also greatly influence how businesses make their technological choices.

The IT industry is currently moving ahead with the Nexus of Forces, as more decision-makers realize the importance of these solutions and their impact on their respective firms. A survey conducted by Sierra Ventures found that 32 percent of CIOs and CTOs named big data and mobile devices as top IT innovations moving forward. Another 24 percent of respondents said the same regarding the cloud and 12 percent cited social media.

Tim Guleri, managing director at Sierra Ventures, explained that modern decision-makers have a lot on their plates when it comes to keeping up with the latest technological trends while maintaining legacy equipment. In addition to these tasks, CIOs and CTOs must also evaluate IT risk and keep current systems operating effectively.

IDC has another name for the Nexus of Forces – the Third Platform, which also consists of big data, mobile solutions, cloud computing and social networking. According to the research firm, global IT spending will surpass $2 trillion in 2013, growing 5.7 percent from last year. Frank Gens, IDC senior vice president, asserted that the Third Platform will account for approximately 90 percent of the tech industry’s expansion between this year and 2020.

“Companies that are not putting 80 percent or more of their competitive energy into this new market will be trapped in the legacy portion of the market, growing even slower than global GDP,” Gens said.

The IT industry will continue evolving with the help of new and innovative solutions. For the time being, however, it is clear that a select few technologies, including the cloud, mobility, social and data-related options will be key going forward.

Photo Credit: Marvin Kuo via Compfight cc