The International Monetary Fund (IMF) expects Asia to remain as the world's economic engine and expects Asia's economy to grow at 5.3 percent in 2014, up from 5.1 percent in 2013. Chief Economist Bart van Ark includes ASEAN, India and China amongst the possible 'future states' of the economic and business environment and expects overall stability and growth across other Asian markets including Japan and Korea.
With a positive growth outlook, Asian businesses will continue to invest in building resilient infrastructures with analyst firms like Gartner forecasting IT spends for the region to reach US$767 billion in 2014, a 5.5 percent increase from 2013.
As investments continue, EMC expects continuing momentum in the following areas:
IT TRANSFORMATION: The Internet is expanding beyond PCs and mobile devices into enterprise assets such as field equipment, and consumer items such as cars and televisions. The problem is that most enterprises and technology vendors have yet to explore the possibilities of an expanded internet and are not operationally or organizationally ready. Gartner identifies Manage; Monetize; Operate; Extend as the four basic models that can be applied to any of the four "internets" (people, things, information and places). Virtualization and cloud-based services form a large part of this transformational journey. 2014 will pave the way for a more mature IT environment where transforming applications, infrastructure and backup capabilities are critical for businesses moving in an era of mobility and business intelligence.
BIG DATA: In APJ, Big Data is being seen as giving rise to markedly improved decision making and is having a significant impact on companies' competitive differentiation and ability to avert risk. In a recent survey conducted by EMC, 83% of businesses in APJ surveyed reported that better uses of Big Data will lead to better decision making. While 49% achieved competitive advantage using big data technology, 68% believed that Big Data will be a key factor in determining winners and losers in their industry. However, as big data becomes mainstream, EMC cautions culture as the biggest inhibitor to success as the EMC survey indicates 29% of respondents citing an unready business culture. In its efforts to make big data adoption easier, EMC and Pivotal will continue efforts to bring big data mainstream. The partnership with the Infocomm Development Authority of Singapore (IDA) announced in 2013 will continue to bring more data scientists mainstream and enable customers to accelerate delivery of prototypes that prove the feasibility and return on investment of advanced analytics applications and Big Data platform technologies.
TRUSTED IT: 2013 saw an incremental increase in security breaches and targeted attacks. In a recent EMC commissioned survey, businesses in APJ estimated losses due to a data breach at USD 945,187 as compared to the worldwide average of USD 860,273. The survey further revealed the loss attributing to loss in revenue (42%); productivity (41%); customer loyalty (36%) and loss of business to competitor (35%).
Sign up for CIO Asia eNewsletters.