The Incredible Growth of 3rd Platforms Industry 2021

 The 3rd platform is built on a foundation of four pillars - cloud, mobile, social, and Big Data technologies. The overall market for the 3rd platform is expected to grow, largely driven by the increased adoption of cloud services across the globe. As the IT Industry is moving towards innovation and enterprises are seeking competitive edge, 3rd platform spending across the globe is expected to capture a major share of the overall ICT spending. The 3rd platform will enable digital transformation and expansion within the software industry in the coming decade.

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The Global 3rd Platform Market will grow speedily at a CAGR of 7.5% during the forecast period. The 3rd platform market in future will be driven mainly by the adoption of emerging technologies such as cloud, mobile, social and big data. The technologies segment has greater market share and will drive the market more than the services segment due to factors such as cost, easy access, self-provisioning and sales channels. The lack of verification of cloud and mobile data and security reasons will impact the market in the coming 3-4 years.

3rd platform reduces cost of ownership and enables an organization to deliver new services. Consequently, its usage is increasing and creating more opportunities for the vendors. Vendors are coming up with cross platforms which can extract more information from the web, track and analyze it to make informed decisions. Most start-ups are following it as their business strategy in approaching their target market.

Chance is high that by now you have heard about the third platform. If not, you probably will soon as it takes center stage in digital transformation.