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Cloud And Mobile Revenue Exceeding Forecasts: KPMG Survey

May 27, 2014, 07:00 AM
Filed Under: Technology

Mobile and Cloud revenues are surging, according to the results of the annual Technology Business Outlook survey of U.S.-based technology executives conducted by KPMG LLP, the U.S. audit, tax and advisory firm. The industry leaders also expect data and analytics (D&A) to be the top revenue growth driver over the next two years, as their expectations have skyrocketed. At the same time, security is projected to become a larger revenue growth driver than before.
Of the technology executives citing Mobile or Cloud as their leading revenue driver, 53 percent say mobile revenues exceeded 2013 forecasts compared to 26 percent in last year’s survey and 46 percent say Cloud revenues exceeded their 2013 forecasts, compared to 28 percent a year ago.
“We are witnessing a convergence of technologies and business opportunity that is producing a flood of revenue in Cloud and Mobile,” says Gary Matuszak, Global Chair, KPMG Technology, Media and Telecommunications practice. “Also, technology companies are leveraging Cloud to transform their business to become more efficient, smarter and flexible.”

Significantly, many more respondents believe D&A will be the biggest revenue growth driver for their companies in the next 24 months compared to previous surveys. D&A leaped to the top of the list with 51 percent in the 2014 survey, compared to 33 percent in 2013, and 19 percent two years ago. Mobile (41 percent) and Cloud (40 percent) are projected to be the next biggest revenue drivers, followed by security (28 percent), Internet of Things (19 percent), and Consumerization of IT (19 percent).

“The jump in expectations for data and analytics growth is due in large part to growth in Cloud- and Mobile-based services that produce massive amounts of data and a competitive advantage for those who can mine the data for actionable insights,” says Matuszak. “Security is another growing market, moving from sixth to fourth on the list of revenue drivers. This makes sense given that security remains the biggest challenge to adoption of Cloud, Mobile and social media technologies and will be a key challenge as the Internet of Things gains market momentum.”
Matuszak adds that the Internet of Things has emerged potentially the next big revenue driver due to rapid technology innovation and new business model opportunities, across industries, as companies seek to differentiate from competitors.

To read the full release, click here.

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