4 key tech trends that will shape PHL’s new normal | BMPlus – BusinessMirror
It is shared knowledge that the pandemic fast-tracked the digital transformation of all businesses regardless associated with size. At the height of the particular pandemic, the companies that quickly adopted various electronic solutions in their strategies performed well and were shielded from the particular devastating effects of the prolonged lockdowns. Digitalization ensured business continuity and started the digital journey of traditional business operations.
As economies navigated the era of lockdowns and mobility restrictions, the consumer and enterprise business landscape turned to technology. Technology solutions offered platforms for both the particular consumers and large-scale sellers to meet their requirements while cooped up in the comforts of their homes.
According to the data of investment management firm Morgan plus Stanley, e-commerce rose in order to 21% associated with total retail sales in 2021 from 19% in 2019. Even if lockdown restrictions have been lifted, it still rose to 22% of sales in the first few months of 2022.
The Bangko Sentral ng Pilipinas recently reported that electronic payments make up 30% associated with retail transactions in 2021 in the particular Philippines, which means that will online payments are also gaining traction.
“The past two years set the pace for digital acceleration among small companies and scaling up for large enterprises. The particular coming years will show how we have progressed within the electronic space and how large and small businesses leveraged technology to get ahead. ” said Calvin Lim, President plus Chief Executive Officer of listed company DFNN, Inc. (PSE: DFNN), a leading IT solutions provider and systems integrator.
Lim believes enterprises need to watch out with regard to four key trends to future-proof their own businesses. These trends, Lim hopes, will enable organizations to pursue decisions that will not only accelerate digital pivot but also arranged the speed themselves in whatever industry they are within.
1. Further increase in cloud adoption
The cloud is one of the most essential components regarding fintech and e-commerce in order to flourish. Market analyst firm International Data Corp. (IDC) forecasts that will in 2022, cloud infrastructure spending will certainly grow by 21. 7%, globally.
Organizations will be looking at a multi-cloud setup for their particular computing plus storage services. Investment inside the cloud is seen to increase as the need also rises. E-commerce is just one sector that spurred the use of the particular cloud not only for storage and platform but also for applications.
And because we enter the Metaverse era, there will be further demand for cloud technology. This alternate universe will need a platform to converge people’s alternate personas. With Web3, people will tread these digital platforms and share unified experiences.
2. Expansion of Information Centers
With the demand intended for the cloud increasing, this follows that there will be a need for more data centers. The Philippines is being groomed to become the particular hyperscaler hub at least in Southeast Asia.
Last year, Chinese firm Alibaba Cloud opened its information center in the country. Singapore-based data center operator Beeinfotech PH announced the general availability of The Hive, a telco-neutral facility located in Pasig. It boasts 3, 000 server racks in its three-floor building. Telecommunications supplier PLDT held a groundbreaking of its VITRO Sta. Rosa recently, which it said will specifically service high-profile hyperscalers. Even small-scale data center providers are looking at establishing or expanding their presence within the nation.
DFNN has dipped the toes inside this as it announced its intention to invest in building the particular country’s first green information center within the Freeport Area of Bataan, in partnership with Nautilus Data Technologies, a global pioneer in data middle technologies. This is a testament to DFNN’s vision of being the partner inside nation-building plus forging long-term commitments, not just to customers but to the planet as well by investing in sustainable projects such as a green data center in Bataan.
a few. The evolution of fintech
In the Philippines, fintech is evolving from contactless transactions towards the creation associated with other products and services. We are usually now searching at cross-border payments not only on the consumer side but on enterprises since well.
Financial institutions — and these include legacy banks and digital banks — will see to this that consumers will not have in order to leave their own apps or even platforms. They will build an ecosystem limited within the walls of the web or mobile programs. Some e-wallets have began offering various loans, investments and even insurance within their apps, leaving possibilities virtually boundless as features and solutions may be expanded as demand is identified. Embedded finance will be fast becoming mainstream, while further highlighted by the increasing popularity of the Buy Now, Pay Later scheme in the particular retail field, immensely popular with young professionals who have yet to build a strong credit rating with traditional lending institutions. DFNN had these integration capabilities long before it became commercially in-demand.
Long before online trading became the norm, our technology arm, subsidiary iWave, Incorporation. has developed the NEXT-WAVE Interactive Broker Platforms and Systems, a stock trading platform that enables brokers and store investors to trade inside the application. We have seen the particular Philippine Stock Exchange closing the trading floor as this realized that secure transactions can be done anywhere.
The NEXT-WAVE application provides agents and traders with an end-to-end integrated system that ensures a safe and inclusive market participation.
four. The rise of gaming
IDC said inside a 2021 report that will gaming, specifically mobile gaming, will thrive even as the pandemic eases. Gaming is also one of the particular factors in the sharp increase within device shipments amid an ongoing health crisis. People resorted in order to gaming along with long-time gamers increasing their particular playtime plus new players adding to the number of hours spent playing.
In the report “ Gaming Marketplace – Growth, Trends, COVID-19 Impact, and Forecasts ” simply by ResearchAndMarkets. com, the video gaming market is expected in order to reach a value of $339. 95 billion by 2027.
Along with games plus tournaments giving record-pool prizes, talents and game developers are thriving. Brands plus companies possess jumped on the bandwagon, which is a testament to the promise social gaming is expected to bring.
DFNN is in a position to provide a world-class gaming experience with IEST Inc., which is an owner and owner of multiple gaming licenses, providing betting and gaming technologies. With a strong and robust back end, IEST can easily develop products depending on the need. IEST developed the first legal on the internet gaming system InPlay, Instawin, and sports-betting platform Xchangebet.
InPlay is usually the 1st legal on-line gaming platform in the Philippines. This aims in order to bring domestic mobile video gaming services legally. Instawin, on the other hand, is 1 of the particular earliest, e-casino platforms plus a key provider of a variety associated with games in nearly 200 locations across the country. It also operates Xchangebet, a sports betting platform.
Eventually, technology will remain a catalyst as we navigate the future. The development of new technologies will furthermore allow customers and companies to either accelerate or even pivot. Depending on company objectives, solutions are there for the taking. We do not know what challenges lie forward, so businesses must be a step ahead to avoid disruptions in operations. Businesses have to find the right fit, a single that will future-proof their organizations.