itindustry - Businesses Are Going to Spend $3.7 Trillion Dollars in IT in 2018

Businesses Are Going to Spend $3.7 Trillion Dollars in IT in 2018

The year has already started and the different enterprises are starting to give us an idea of how the year will look for them. The IT industry will be one of the most benefited. Companies will pay close attention to it in 2018. According to market research firm Gartner, the IT industry could grow $3.7 trillion during this year.

IT Industry – Blockchain Will Be Included in Future Investments

Companies will invest heavily in Artificial Intelligence, Internet of Things and Blockchain technology. These industries are likely to receive an important amount of attention by enterprises. Blockchain projects have been growing exponentially in the last year. More businesses are using this technology to make their processes much more efficient.

For example, projects related to the Internet of Things (IoT) are growing. The main intention is to provide the market with every day objects that are prepared to work with different applications and sensors. There are different areas for implementing this technology like the manufacturer sector or the logistic one.

About Blockchain, John David Lovelock, research vice president, believes that Blockchain technology will be benefited with important investments. According to Lovelock, blockchain technology is receiving important attention from private enterprises. The technology became famous because of the cryptocurrency craziness during the last year.

Important enterprises like IBM, Microsoft or JP Morgan are working with Ripple, Digital Asset Holdings, Stellar and other foundations in order to create their own blockchains or use existent cryptocurrencies for different transactions.

Businesses are using cryptocurrencies in order to reduce transaction times, dependency on financial institutions, and to increase efficiency. Depending on the platform used, the benefits will be different. Ethereum offers smart contracts. Some enterprises need them in order to interact with some suppliers or other businesses. Ripple offers a platform similar to the one that banks are used to work with.

The year has started and we have seen how enterprises are getting prepared to face the increased demand in the blockchain sector. The investment has already been made.