Many expect the current year to be the breakthrough year for the housing market. While the housing sector was seeing pockets of recovery in 2013, 2014 is expected to be a lot better – mostly because according to analysts, it has “Nowhere to Go (but Up)”. The National Association of Home Builders is projecting a 24% growth in total housing starts, with even larger gains for single-family units. The online housing services sector is expanding their market offerings to cater to this growing demand.
According to research firm IHS, worldwide enterprise spending on cloud-related technology is projected to triple over the period 2011 through 2017. The market is estimated to be worth $235.1 billion by the year 2017. In the current year, global business spending on infrastructure and services related to the cloud are projected to grow 20% over 2013 to $174.2 billion. As the adoption for cloud services increases, organizations are also looking for services that help with the integration of not only traditional legacy on-premise applications and software with the cloud, but also the integration of multiple upcoming technologies.
According to ad agency ZenithOptimedia, global ad spend is estimated to be worth $503 billion in 2013. The US accounts for $109.7 billion of this market. The research study estimates that last year, 22% of US ad spend was on digital media, compared with 19% in 2012. Internet advertising is projected to grow 16% annually over the next two years and will account for 28% of all US ad spend by 2015. Global ad spends are expected to follow similar trends.
According to IDC, worldwide spending on public IT cloud services is projected to grow 23.5% annually over the period 2013 through 2017 to be worth over $107 billion in 2017. The market was estimated to be worth $47.4 billion in 2013. The growth in cloud markets is estimated to be five times that of the IT industry’s growth. In response to the trend, all IT majors have focused their efforts in offering cloud-based subscription services.
As economies worldwide start to show signs of improvement, the travel industry is also experiencing a steady recovery. The US Commerce Department expects international travel to the country to grow 4% annually over the period 2013 through 2017. In another report, the Global Business Travel Association expects international business-related travel outside the country to grow 12.5% this year to $36.7 billion. Overall, the research study expects US business travel spending to grow 6.6% to $289.8 billion this year. The online travel industry is already cashing in on such rosy projections.
If analysts had any doubts about Adobe’s (Nasdaq: ADBE) capabilities of delivering on the cloud, they have been put to rest. In the recently reported results, Adobe has demonstrated how to successfully migrate from a software sales model to a cloud-based subscription service model.
A report issued by Digi-Capital earlier this year estimates the mobile and online gaming industry to grow 24% annually over the next few years to be worth $60 billion by 2017. The report estimates that the increasing popularity of mobile games will help drive the game software industry’s revenues to more than $100 billion by 2017.
According to the Centers for Medicare and Medicaid Services, healthcare spending in the US is projected to be worth $3.1 trillion this year, of which $620 billion is paid by US employers. Despite this significant expenditure, the healthcare industry in the country is plagued with inefficiencies and extreme variations in price and quality of health care. A major factor for these inefficiencies is the inadequate availability of information, especially with respect to the price and quality of health care, which makes it difficult for employees and health care providers to make wise health care choices.
According to an IDC report, worldwide spending on data storage platforms is expected to grow to $42.5 billion by 2017 as more organizations feel the need for cost-effective data storage options. Further, as enterprises shift to virtualization and the Cloud, there is a bigger amount of data that is being generated that cannot be stored efficiently on traditional storage systems. As a result, there is a bigger need for next generation high-performance flash storage media with cloud-based monitoring capabilities and predictive data analytics software.
According to an IBIS research released in 2012, nearly $243 billion was being spent in the US on care services such as day care, in-home care providers, housekeepers, nursing care facilities, tutoring and pet care. The care services market is highly fragmented across the globe. Recently listed Waltham-based Care.com is one company which has successfully managed to consolidate these services under their portal.