2020 was yet another vibrant and exciting year for the technology industry, despite the COVID-19 pandemic; although, according to Gartner, IT spending is expected to be down 5.4% from 2019.
The international market has been dominated by IBM’s split announcement, several significant and large acquisitions in the semiconductor sector and the ongoing global investigations/fines of the ‘big’ tech boys. Locally, Alviva’s acquisition of Tarsus Technology Group and Gijima’s acquisition of T-Systems SA stood out as two significant events.
As has been the norm over the past few years, 2020 has again seen the emergence of numerous start-ups; a significant number of IPOs globally; heavy private equity activity that was not limited to the US alone; and a feverish merger/acquisition scene.
From a business and technology perspective, artificial intelligence (AI), analytics, the continued move towards the digital world, cyber security, the Internet of things (IOT) and robotics are still the key and immediate opportunities going forward.
In addition, consolidation continues apace particularly in the AI/analytics, cyber security, semiconductor and telecommunications/communications fields; while many of the ‘bigger’ players continue to streamline their operations by either splitting off, listing or selling off non-strategic elements of their businesses, while also trying to discover and bring onboard new initiatives.
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