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IDC: AI and IOT will drive cloud adoption for organisations seeking competitive advantage

January 21, 2019 / FutureIoT Editors

IDC says the New Zealand IT services market is predicted to grow at a compound annual growth rate (CAGR) of 2.8% through to 2023. New Zealand IT services revenue will reach approximately NZD$3,960 million in 2023, up from an estimated NZD$3,452 million in 2018. IDC’s recently published "New Zealand IT Services Forecast and Analysis, 2018-2023" report revealed that managed services market which is predicted to achieve the highest CAGR through to 2023. A driver of this accelerated growth is that organisations are shifting from cloud for business and system optimisation to using the technology to create competitive advantages and in conjunction with other innovation accelerators, such as IoT and AI. Chayse Gorton, ANZ market analyst for IT services, added that organisations are prioritising innovation and security over cost and scalability.