The rapid increase in technological development has taken over every sphere of life. The advancement of emerging technologies in the form of artificial intelligence, industrial robots, and machine learning is extremely fast-paced and these reap numerous benefits in terms of quality, efficiency, and cost. As information technologies (IT) have developed exponentially it has resulted in the evolution of one of the largest industries in the world. The IT industry is an overarching term that encompasses many technology-oriented organizations. Today, the survival of any industry is hugely reliant upon its IT resources and development. This essay aims to explore the future of the information technologies and systems industry structure along with the impact of advances in technology on products and services.
The power distribution among firms is referred to as industry structure. The IT and systems industry has various sectors such as software and services, hardware and technological equipment, and semiconductor equipment. The IT industry has experienced a boom over the past few decades with technological advancements taking place in both the developing and the developed economies. Though this trend would persist in the future, so will the problems that arise with it, leading to changes in its structure. The incessant development of updated technology and equipment results in e-waste. This relatively newer form of waste is created as a result of huge volumes of obsolete products. Since users prefer to switch to the upgraded version, the outdated equipment is discarded. This has given rise to a newer form of industry that recycles e-waste. In the future, as the IT and systems industry will expand so will the need to develop environmentally friendly alternatives to manage e-waste (Pandey & Govind, 2020).
Today, the IT industry is dominated by tech giants like Microsoft, IBM, Oracle, etc. With technology advancements, many new big and small firms are becoming a part of the industry. Although the power structure may not alter overnight, however, emergent firms may increase the competitive environment. Remote working conditions have also emerged as technology has progressed. Additionally, with more and more people opting to work as freelancers instead of selecting the traditional office jobs, clients and workers have been exposed to a global marketplace. This allows organizations to hire people from around the world and not be reliant upon the local human resource. Since the future of the industry largely reflects globalization, being the lone genius would no longer be an option. Collaboration will be the central tenet of the IT industry and a culture of teamwork would flourish innovation.
Since technology is rapidly progressing, consumers have wide-ranging options of products and services to choose from. In such a scenario, user experience surpasses customer satisfaction and becomes the prime goal for companies. For the IT and systems industry, critical examination of the design and development of user-friendly interfaces is becoming the current trend. The future industry will focus on simplicity and user-optimized interface, reducing the learning curve for the customers. Moreover, considerable advances in related product technologies such as network cable technology and blockchain technology will also take place to ensure the transmission of data with increased security and efficiency (Firefold, 2021).
In today’s world, every industry, from automobile to clothing and from mining to education, is reliant upon technology in one way or another. IT and systems industries are continuously evolving. While the impact of technology on the IT industry can be predicted through current trends, only time can reveal the reality of a world that runs on information technology and the various risks, such as that of cyber security and e-wastes, associated with it.
Firefold. (2021). Future Trends in the Information Technology Industry. Retrieved from Firefold: https://www.firefold.com/blogs/news/future-trends-in-the-information-technology-industry
Pandey, P., & Govind, M. (2020). Socio-technological challenges in formalization of E-waste recycling in India. In M. N. Vara-Prasad, M. Vithanage, & A. Borthakur, Handbook of Electronic Waste Management. Elsevier Inc.