With 2024 starting to take shape what better time to take a look at some upcoming trends in the IT space? Here are five key trends we expect to see. 

  • Edge computing transforms data processing and storage

Edge computing is a form of distributed computing where computation and data storage take place closer to the end user. This moves some portion of storage and computer resources out of a control data centre and closer to the source of the data itself. This means raw data is not transmitted to a data centre and takes place where the data is generated. With the amount of data companies are operating with increasing, businesses are struggling to process data in external data centres. Edge computing is a way to solve this by using smart objects (Buildings, vehicles etc) and network gateways to process and store data near the end user’s location. Experts predict the market for edge computing will reach 250.6 Billion this year! 

  • Cyber security attacks will increase

The latest Government Cyber Security breaches survey found that 59% of medium businesses have experienced a breach or attack in the last 12 months. Cyber security risk is unfortunately something that is always going to be there and it is estimated that cybercrime is costing the global economy £16.4 billion a day!  This rise in attacks has seen spending on cyber security services forecast to grow, with searches for cyber security estimated to rise by 280% over the next 5 years! 

  • IT Spending shifts to the Cloud

The Cloud is now used by most companies in some format. This has seen ‘as a service’ models grow in popularity. Software as a Service, artificial intelligence as a service and platforms as a service are all products that are growing significantly. Towards the end of 2023, Gartner predicted that global spending on Cloud services was forecast to increase 20.4% in 2024. With the market demanding flexible working environments in this hybrid era, it is no surprise that the Cloud is being heavily invested in by companies. Cloud computing allows organisations to work from anywhere in one centralised hub

  • AI moves into everyday automation 

2023 saw generative AI propel into the majority of the market. 2024 will see AI grow further with the workforce getting to grips with how powerful and useful it can be. We’ve recently taken a look at Microsoft Copilot, and as AI becomes more prevalent in software and communication tools, more people will start to release its potential. Correct use of AI will lead to greater efficiency, faster turnaround times and a more productive workforce. Copilot for example can be used to write a summary of your meeting without you having to lift a finger. 

  • Sustainable Technology continues to grow 

As we become more sustainability conscious, it’s no surprise sustainable technology will continue to take centre stage during 2024 and on. With nations striving to achieve net-zero commitments, sustainable technologies that produce more environmentally friendly ways of doing what we already do, will be heavily invested in. The tech world will play its part in this, promoting ideas such as green Cloud computing, where infrastructure and services prioritise the reduction of energy consumption and carbon emissions. The circular economy model, where resources are kept in use for as long as possible, will also become an increasingly important concept. 

Summary  

It’s good to have one eye on the future and what to expect in the IT market. With spending heading towards the Cloud and the expectation of AI helping people in their roles, we hope this has helped you evaluate where your business stands against market trends. Some predictions shouldn’t come as a surprise to many, sustainability has been a hot topic for a while now and cyber security is something every business should proactively engage with. Partnering with Xperience can help you stay up to date with the latest IT trends. 

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