Upcoming IT Trends for 2014 – Emerging Markets, Mobile & Payments

DUO marketing recently hosted a breakfast where Nicola Dreyer shared her ideas about the upcoming trends in IT for the next year. According to Nicola some of the trends worth paying attention to in the next year include:

The Power of Emerging Markets

We need to understand how business is being done in emerging markets. You can no longer just bring established models into developing areas and try to make them work. You have to understand the emerging market from the inside and take cognisance of how existing models in the area already work.

There is a lot of potential within emerging markets. It is not only about which companies are moving into the emerging markets. The potential for technology, applications and software developed by emerging markets, for emerging markets is vast and untapped.

Mobile

Africa has been an early adopter of mobile and the rest of the world is only just beginning to catch up. Companies are beginning to develop private app stores for applications that can only be accessed and utilized by the employees who need them.  The continued growth of cloud shows that service and reliability of uptime is becoming more important than the device by which it is accessed. As more and more people become connected we are slowly moving towards an ‘internet of things’ where everyone and everything is online.

Payments

As everyone becomes more connected we will require new paradigms with regard to payments. While the systems are getting faster and the technology has seen new entrants, such as NFC, there is still the need for greater financial inclusion, particularly in emerging markets.  The rise of virtual currency is the trend to watch in this regard. This is particularly true when we consider how increased connectedness is breaking down barriers in terms of geo-political borders. There will be a greater need for legislation and technology which can deal with online, cross-border payments as people all over the world communicate and do business together.

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