Deloitte’s annual Technology, Media & Telecommunications Predictions made its stop in Calgary on Tuesday, January 27 as part of their 12-city tour across Canada.
Presented by Deloitte Canada’s Director of TMT Research Duncan Stewart, this year’s predictions focused on three bigger themes: the impact of smartphone technology, the adoption of technology by the enterprise, and the influence of millennials on TMT.
The Impact of Smartphone Technology
In what Stewart calls an “already saturated market,” people continue to buy new smartphones and upgrade from their previous models. This is driven by factors such as better camera specs, bigger screens, and technologies such as NFC-enabled payment. Stewart also says that mobile payments will grow in Canada because credit cards are currently using NFC and stores now have the terminals that accept this form of payment.
The “Re-Enterprisation of IT”
Many new innovative products that have been marketed to consumers have failed to catch on – at least in the mainstream. This caused many technology analysts and experts to write off these products as fads or failures. Stewart said that these technologies may be too niche, too expensive, or just not useful enough for the consumer, but they are showing promise for the enterprise. The return on investment for the enterprise is much greater than that of consumer products. Some examples he provided included:
- Drones – Deployed in place of helicopters which cost way more time, money, and manpower
- Internet of Things/Big Data and Analytics – What may be small savings for an individual or household may become significant for businesses
- 3D printers – allow for processes such as rapid prototyping and rapid deployment of tools
For companies, the above technologies do not pose a threat to any of their employees. Rather, these are tools that are meant to complement everyday processes and save organizations time and money in the long run.
The Influence of Millennials on TMT
Millennials are making an impact on media industries, but not in the way most people assume. This generation still regularly consumes many forms of “traditional media”: they are still watching TV, watching movies in the theatre, listening to music and reading print books. The difference is how millennials are spending their money on media.
- TV – Short form video such as content on YouTube is growing, but pay-TV is still, by and large, the dominant way not only millennials but all people watch video and programming.
- Movies – While millennials admit to downloading movies online, they are also still going to the movies at an above average rate (7.1 movies per year).
- Music – Most of the money millennials spend on music are based around the live experience, going to concerts and music festivals.
- Books – Millennials still overwhelmingly prefer print over e-books, and continue to pay for the content instead of finding free versions online.
The Deloitte team has enjoyed much success in the accuracy of their predictions since they started publishing them in 2001. Stewart and the Deloitte team will be making two more stops on their cross-Canada tour: today in Winnipeg and wrapping up in Ottawa on Friday, January 30.
Deloitte’s TMT Predictions 2015 presentation is now available on Slideshare.