MARKET PERSPECTIVE
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The current market conditions are at a maelstrom state for innovation and there is little slowing down in sight when observed at a macro level. Even with recessions and other factors always abound to cause periodic sidewinds. Several key factors are contributing to our viewpoint on the growth of today’s technology market:
Firstly, the global pandemic has stifled innovation from happening for several years. The market has been playing catch up, but the backlog of truly transformational “Big Innovation” programs and projects is extensive.
Secondly, the Serengeti-like mass migration of infrastructure to public and hybrid cloud is still in an infancy state with less than ten percent of private datacenters being migrated. There is still a decade plus of cloud-based infrastructure migrations in front of us. This systematic cloud transformation becomes the catalyst of new technology growth. To add to the complexity, the major hyperscalers are constantly growing and adding new services at an alarming rate which the market needs to repeatedly digest and integrate into their operations. The cloud flywheel is on a torrid pace.
Thirdly, the amount of technical debt within most large enterprises will take decades to remediate. Cloud migration has provided a trigger event for building plans to sunset, replatform, refactor and ultimately rebuild these core business platforms. No/Low Code application and data platforms will be the new catalysts for rebuilding core processes and next generation business platforms and this requires new skills to be created. Applications will ultimately be SaaSified and run as utilities by hyperscalers and other strategic service providers.
Lastly, technology is changing rapidly while all of this is happening and businesses need to be prepared for the future evolution of work with open eyes. AI technology will significantly change how work is done today across all industries. IOT, 5G, Extended Reality including Digital Twin Technology will create new streamlined and highly automated Smart Companies. And perhaps the largest wave coming our way is the Web 3.0 Tsunami which has the potential to completely disrupt business models as we know them today. Creating decentralized autonomous organizations effectively run by software and governed by decentralized oracles who are compensated via tokens and digital currencies. And let’s not forget about the new Metaverse gaming world impact for whatever that will entail.
These above areas provided the essence of what ConceptVines was established to address. In the associated diagram depicting Martec’s Law, a primary charter of our company is to help companies close the
ever-growing innovation divide between what most companies want to do compared to what they are realistically equipped to do.
We focus on finding the best startups and disruptive technologies on market to help companies drive innovation proactively and adequately prepare themselves for the future. Building new business models. Reinventing themselves. Embedding a startup mindset into their companies and building a creative innovation culture which can help them ride the many waves coming in.