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Tech Firms Set To Vanish: IDC

Tech Firms Set To Vanish: IDCThe latest IDC Outlook Report says the pace of digital innovation is accelerating and broadening. with digital technologies changing the economics and practices of traditional business.

The report says cloud computing, mobile devices, advanced data analysis and artificial intelligence are better, cheaper and more widely available.

But many companies aren’t moving fast enough and IDC predicts a third of the top 20 in most industries will be disrupted over the next three years, leading to a deterioration of revenue, profits and market position

Corporations pursuing digital transformation strategies will more than double the size of their software development teams which augurs well for the job market for software engineers with cloud and Web development skills as well as digital scientists.

IDC predicts that by 2018 the number of Internet of Things devices will more than double, prompting the development of 200,000 new apps.

Companies likely to survive include Amazon, Microsoft, Google, Salesforce, IBM and two Chinese companies, Alibaba and Tencent.