Change in the IT industry - From Niche To Everyday Innovations

by Sam Warne Event Organizer

How the spread of digital products to all areas of life is revolutionizing the IT industry.

The possibilities of digital media have significantly shaped our lives over the last 80 years. The development of computers marked a true turning point in human history. Thanks to the constant advancements in technology, digital helpers have found their way into our everyday lives. On the other hand, the widespread use of IT products has an impact on the entire IT industry. The field of activity is evolving and changing, which means there are always new opportunities for a career in the digital sector.

Facts and figures: IT industry growth

Since its founding, the IT industry has been and still is a market with unprecedented growth. At least since the development of affordable computers for private households, it no longer serves a niche market. Companies that have adapted to new market requirements in a timely manner or - such as Microsoft - have a say in shaping them, have demonstrated unparalleled growth.

The software company, founded in 1975, is already a very successful company with more than 5,000 employees more than fifteen years after it was founded. But with the growth that has followed, the numbers are hard to compare. In 2000 there were about 38,000 employees, ten years later almost 90,000 and today more than 134,000.

This explosive change, which can be seen in parallel with the growth of the entire computer industry, shows how much digital products are permeating our lives. In Silicon Valley alone, more than 200,000 specialists are working on innovative solutions, some to problems we don't know about yet. In 2019, the global turnover of the entire IT industry is estimated at 1.7 trillion euros.

The key to sustainable growth is never-ending innovation. As late as 1993, Bill Gates dismissed the Internet as "hype" and the rumors that he found 640 kilobytes of memory "enough to last" also held true. The fact is that the various functions of digital solutions are evolving so rapidly that it seems that even the experts at the time could not immediately recognize its potential.

No wonder, because the computer market has long been targeting the niche segment. Operating an MS-DOS PC requires a deeper knowledge of how the operating system works than most users of today's high-performance devices require. Before affordable PCs made their way into our homes, they were primarily of interest to data processing companies, programmers, and tech enthusiasts.

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That is a thing of the past - first, there was a box-shaped computer in every home, then it got smaller and smaller and now software-driven microchips are in every existing device. As part of Industry 4.0, the manufacturing industry is also increasingly relying on networked machines to monitor and control the production process.

Without a doubt, the IT industry is one of the fastest growing markets in recent decades. And given the fact that new opportunities are difficult to predict, they will likely remain so. Most industrial processes are also controlled by computers, which of course means that computer technology is very important to the economy.

But home computers, game consoles, smart TVs, the internet, cell phones, and navigation systems may be far more important to the digital job market. Digital technology is ubiquitous, so everyday life without new devices and media is no longer conceivable.

The effects of these digital products on our lives, but also the economic effects of this comprehensive digitalization are important topics that will keep computer scientists and those interested in the industry busy for some time to come.

Digital Native Generation

The digitalization that is changing our world from the ground up is not a difficult realization. It has a far greater effect on our entire reality than any new technology in previous decades. Television, for example, is fundamentally changing the way we spend our free time and disseminate information.

However, computers, and all the forms that can now be combined with the Internet, have this effect on all aspects of our lives. They are no longer a complement to our daily lives but have long been a necessity.

As more and more young people grow up with these products, there is a generation that not only accepts digital solutions in every area of life but also expects them. These so-called “digital natives” will play an important role in consistently completing the digitization process that has started.

The more people who come into contact with IT from the start, the greater the potential for new ideas. It is also easier to start a career in a related industry if you are already familiar with the problems of everyday life.

This can already be observed with the rise of startups in the tech sector, whose success has also been largely based in Silicon Valley. Particularly in the areas of e-commerce, fintech, and social communications, innovators have been setting the tone for several years. Especially with regard to the work being carried out in crypto, VR, and AI, it is also clear that in the next few years further major innovations with a clear effect on our daily lives will be ready for the market.

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