Industry executives and experts share their predictions for 2023. Read them in this 15th annual VMblog.com series exclusive.
Power of Digitalization: Digitalized Modular Enterprises
By Chander Damodaran, CTO at Brillio
New technologies are fundamentally changing entire markets and ecosystems; transformation timelines are compressing from years to months and happening across multiple functions simultaneously; old business processes and customer touchpoints are being swept away by online and app-based companies powered by cloud, APIs, analytics and mobile.
To thrive, modern enterprises need a completely different level of agility, flexibility, adaptability and resilience. They need to shift their architectural strategies from a hierarchical to a modular approach, using software components and APIs, as well as autonomous teams with distributed responsibilities, to deliver innovation quickly and adapt applications dynamically. Doing so will maximize their ability to build, assemble and reassemble core business elements at scale and provide new avenues for cost efficiency and revenue generation.
Here’s a closer look at the some of the technology enablers of digitalized modular enterprises:
- Automation as a service. With increased competition, globalization and changing business cycles, there is a stronger emphasis on innovation, agility and lowering operational complexity. Automation as a service helps businesses accomplish these goals. The automation as a service market is expected to reach $14.31 billion in 2026, up from $5.25 billion in 2022. Businesses can be significantly impacted by integrating technologies like visual inspection, machine learning (ML) and artificial intelligence (AI) with automation as a service as it can result in the highest quality outcomes, innovation of new practices and lower labor costs, increasing efficiency and maximizing profits.
- App as a service. Several factors are encouraging businesses to shift away from conventional software development to solutions like low-code/no-code tools. These include the need to reduce spending, speed app development and deployment at unprecedented levels and meet constantly changing business demands. Gartner predicts that by 2025, 70% of new apps built by enterprises will use low-code or no-code technologies, up from less than 25% in 2020. The low-code/no-code development market has rapidly expanded over the past few years, and we can expect these tools to reshape how businesses operate to become more effective, responsive, nimble and tactical in their programming endeavors. In fact, according to Gartner, the demand for business-driven hyper-automation is expected to be one of the top three factors driving the adoption of low-code.
- Infra as a service. Infrastructure as a service (IaaS) is a type of cloud computing service that offers essential compute, storage and networking resources on demand, on a pay-as-you-go basis. According to Research and Markets, the global IaaS market will reach $279.5 billion by 2027, at a CAGR of 27.2%. A major driver propelling the expansion of the IaaS market is digitalization, which is occurring concurrently with the increased acceptance of cloud computing services. In addition, the demand for faster data accessibility and more affordable information technology infrastructure is rising across a number of industries, including banking, financial services and insurance, healthcare, retail, manufacturing and telecommunications, boosting the market’s expansion. It offers various benefits, such as minimal cost of operation, rapid innovation and enhanced stability, reliability and supportability.
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ABOUT THE AUTHOR
Chander is the CTO at Brillio, a leading digital transformation partner that provides customers the modern skills, methodologies and tools needed to compete in today’s economy. Bringing over 22 years of diversified technical experience in architecting, solutioning, innovation and product development, Chander leads the innovation and establishes the engineering mindset within Brillio. He is passionate about defining the blueprint for digital transformation, with clear outcomes and elevated experiences for his customers.
