Tag: GlobalData

GlobalData claims Generative AI will change automotive industry

Generative artificial intelligence (genAI) will combat some of the auto industry’s critical challenges and make operations more efficient, sales more effective, products safer, and customers more satisfied, according to a GlobalData report.

GlobalData Practice Head of Disruptive Tech Kiran Raj said that the next decade will be make-or-break for automakers, requiring them to adopt transformative innovations or risk relinquishing control to major tech companies.

“With sustainability demands, electric revolutions, capacity challenges, and shifting mobility trends, the clock is ticking for automotive leaders,” he said.

Digital transformation made healthcare a bit sicker

Canalys Forum EuropeDigital transformation might have made healthcare more efficient but it has exposed the industry to more cyberattacks, according to a new report.

According to GlobalData’s Q2 2023 tech sentiment poll, 70 per cent of survey participants expect cybersecurity to disrupt the healthcare industry, with over 41 per cent expecting a significant disruption.

GlobalData Medical Analyst Ashley Clarke said that hackers can exploit various entry points, ranging from physical medical devices in and outside of medical facilities to gaining unauthorised access to networks from nearly any connected device, medical or not.

“The implications of such attacks can be far-reaching, affecting patient privacy, interrupting healthcare services, and jeopardizing the safety and effectiveness of medical devices,” he said.

According to reports from the US Department of Health and Human Services (HHS) Office of Civil Rights, breaches of unsecured protected health information have affected over 42.7 million US citizens thus far in 2023. This is a 50 per cent increase from the 28.4 million individuals affected in the same period in 2022 and surpasses the 39.9 million affected individuals in the entire year of 2021.

Although the number of reported cybersecurity breach events this year has seen a slight decline (338 compared to 390 in the same period last year), the staggering increase in affected individuals suggests that hackers are targeting larger networks, necessitating heightened vigilance and security measures.
To address mounting cybersecurity risks, the US FDA introduced new guidelines for medical device manufacturers in March 2023. These guidelines require manufacturers to submit a plan to monitor, identify, and address post-market cybersecurity vulnerabilities when applying for new pre-market authorisations.

Clarke said: “This approach is a start to enforcing a minimum level of security and encouraging routine cybersecurity testing to identify and address vulnerabilities before they can be exploited. However, older devices and non-medical devices connecting to remote patient monitoring and telehealth services could still pose a significant risk.”

Recent cybersecurity vulnerabilities in prominent companies like Medtronic and Becton Dickinson serve as critical reminders of the continuous need for improvement in cybersecurity practices.

Clarke added: “As we progress towards a more interconnected healthcare landscape, collaboration with cybersecurity experts, the adoption of advanced technologies like blockchain and zero-trust architecture, and prioritizing data security will be vital to safeguard patient information and ensure continuous, secure care.”

5G network security capabilities need to be stepped up

Former rubber boot maker Nokia and research analysts at GlobalData warned that communication service providers (CSPs) worldwide want stronger 5G network security capabilities.

GlobalData, commissioned by Nokia, found that 56 percent of CSPs said they need to substantially improve their cyber capabilities against telecom-specific attacks, while 68 percent said they need to sharpen their defences against ransomware threats.

Surveyed CSPs said they believe 5G Standalone (SA) deployments could increase security vulnerabilities as they disaggregate and open their networks and as industrial enterprises increasingly connect more of their mission-critical assets to their networks.

About three-quarters of the CSPs said their networks had experienced up to six security breaches in the past year, resulting in regulatory liability, fraud and monetary theft, and network services being knocked offline.

Half of IT service providers see revenue decline

Beancounters at GlobalData have added up some numbers and reached the conclusion that half of the top 20 IT service providers saw a year-on-year revenue decline in 2020, while nine saw a drop in net earnings.

The firms recorded a 14.6 percent year-on-year decline in cumulative net earnings, the analyst says, with 40 percent of the companies reporting a double-digit decline in net earnings.

GlobalData blames the pandemic, causing “cost optimisation” measures to be implemented, with customers pushing back previously planned projects.

The battle over digital monopolies is just getting started

The case for new regulation around the monopolisation of user data by big tech companies has never been stronger, according to a new report from GlobalData.

GlobalData’s latest report, Antitrust – Thematic Research, notes that big tech companies do not have much of an incentive to change their anticompetitive behaviour, despite facing large fines.

GlobalDataSenior Thematic Analyst Laura Petrone said: “Existing antitrust rules are broad in scope and only allow enforcers to act after wrongdoing has been committed. Big tech companies have been fined billions for their anticompetitive practices over the last decade, however, these practices are still in the spotlight after years of scrutiny.

Brexit could put UK auto industry in the bin

UK auto industry linked businesses are going to take a hammering from any hard Brexit, warned analyst outfit GlobalData

David Leggett, Automotive Analyst at GlobalData, warned that the UK automotive sector was facing decimated sales due to the COVID-19 crisis, the very real possibility of no-deal on free trade between the UK and EU when the Brexit transition period ends at the end of the year would be a double whammy that seriously jeopardises recovery, competitiveness and future investment.

Digital technologies generate major changes, shock

Beancounters at GlobalData claim that digital technologies are increasingly exerting pressure on incumbents across industries to change their business models while giving rise to smaller, agile players that are enabling innovation and disruption in many aspects of the business.

GlobalData Principal Disruptive Tech Analyst Kiran Raj said: “The explosion in the availability of data has reinforced the use of digital technologies as an enabler of innovation and disruption across many industries. Moreover, the COVID-19 pandemic has hammered the business world with prolonged lockdowns that triggered the widespread recognition of digital transformation among industry leaders to future-proof their businesses.”

Underperforming Cylance affected Blackberry

Blackberry took a hammering due to its poorly performing software services arm Cylance according to GlobalData

The company declineed 16 percent in Q1 2020, compared to Q4 2019, due to revenue and gross margin drops in its struggling software services segment, the revenues of which declined by around 12 percent.

Cylance, a part of the software services segment, remained subdued throughout the period, even as cybersecurity demand surged due to increasing work-from-home policies during the pandemic, says GlobalData, a leading data and analytics company.

No end in sight to IT vendor layoffs, pay cuts and furloughs

There has been widespread evidence of layoffs, pay cuts and furloughs at IT vendors, and there is more economic pain on the horizon, according to bean counters at GlobalData.

GlobalData reports that, as of the end of May, the number of active jobs in the technology and telecommunications field was down 36.2 percent as compared with the same time last year.

Steven Schuchart, Principal Analyst at GlobalData, said: “Times are tough for enterprise IT vendors. The economic downturn as a result of the COVID-19 pandemic has hit them hard. Some IT vendors, particularly the ones involved in cloud or collaboration, have seen great increases in business, but the traditional vendors and startups are taking a beating.”

UK smart cities need to advance in response to COVID-19 

illustration: elenabsl/adobe stock

Analysts GlobalData said any of the short-term fixes and even long-term cures envisaged for the illness of urban and wider society so vividly and exposed by the COVID-19 pandemic lie, at least in part and sometimes almost completely with ICT.

With half of the world’s population living in cities and 70 percent projected by 2050, it is now more important than ever to tackle these challenges, the analysts said.

GlobalData forecasts the market for smart cities to grow from $458 billion in 2019 to $624 billion by 2024, growing at a compound annual growth rate (CAGR) of 6.4 percent, with the biggest growth coming from transportation, infrastructure, and grids.

Tony Cripps, Principal Analyst at GlobalData, said: “Creativity of thinking by UK cities and companies will be a necessity for managing the business impacts post-COVID-19, a fact that necessarily places the use of advanced ICT very high on what looks set to be a reinvigorated smart cities agenda.”

Top five telco results show B2C market strong despite coronavirus

Beancounters looking at the numbers of the top five European telco first quarter results say that they show early crisis stage resilience in the B2C market.

GlobalData had a look at the results for  Vodafone, Telefonica, Deutsche Telekom, Orange and BT and said they showed an encouraging degree of business resilience in the European telecommunications industry at large, with few surprises in the B2C market.

While all five telcos flagged losses in roaming revenues due to lockdown measures implemented in the final weeks of the quarter, several confirmed a positive or stable mobile contract churn development for the quarter overall – with little to no disruption impact on ongoing business restructuring projects, or 5G strategies. More importantly, all were able demonstrate, to some extent, the way the COVID-19 crisis is accelerating ongoing digital customer experience initiatives. Others were able to point to a small but encouraging growth in service revenues.

Pandemic shows the important of mobile voice

The COVID-19 pandemic has proven that mobile voice is still a vitally important communication channel, one that becomes even more important in a crisis, according to analysts GlobalData.

Andy Hicks, Principal Analyst at GlobalData, said: “A third of the world’s population is stuck at home, yet mobile phone calling has increased during the COVID-19 lockdowns. Classic text messaging has also increased – even with competing with free voice and message channels.”

Consumer electronics could suffer supply chain issues for a long time

Consumer electronics could suffer from supply chain problems for a long time due to the rapid shut down of China’s manufacturing during the Corona Virus outbreak.

GlobalData’s report, COVID-19 Impact on Consumer Electronics – Thematic Research, notes when COVID-19 broke out in China, the country was quick to slow down its production, eventually ceasing all manufacturing as the country went into lockdown. This had a drastic effect on supply chains across the world, as many industries, including the consumer electronic sector, are heavily reliant on components that are manufactured in China and could no longer access these resources, says GlobalData, a leading data and analytics company.

Consumer gear booming says GlobalData

Consumers that are self isolating will boost the UK electricals market in H1 2020, with spend forecast to rise 3.4 percent versus last year, as shoppers buy laptops, TVs and kitchen appliances to make the prolonged period at home more comfortable, according to a new GlobalData report

Zoe Mills, Analyst at GlobalData, said: “The stockpiling of food has not only aided the food and grocery market but has benefited the electrical sector as consumers purchase new appliances to store additional goods. White goods such as outdoor freezers have seen phenomenal growth as consumers need more space to store perishable foods. AO.com has reported freezer sales increasing by around 200 per cent in recent weeks.”

Telecom’s will boom after Covid-19

The telecom sector will shine in post Covid-19 era, according to the beancounters at GlobalData.

In a report, with the racy title, “Tech, Media and Telecom Trends 2020 – Updated for COVID-19 – Thematic Research”,  the analysts said that Covid-19 is by far the most significant theme to affect the technology/telecom industry in 2020.

However, its effect is going to be short-term. In the post Covid-19 era, telcos are expected to perform well as the world will be more connected and businesses better prepared for such calamities.

The report evaluated the impact of Covid-19 on 600 companies across 17 sectors in technology, media and telecoms (TMT).