Emerging Technologies AR VR IoT Are the Key to Growth for the Middle Market

According to an article on Tech Republic, a Deloitte survey released last week shows that middle market companies are now up to date with technology, and are strategically investing in the Internet of Things (IoT), Virtual reality and Augmented reality in order to overtake competitors. They are also realizing the importance of innovative tech as a way of expanding their business, both now and in the future.

Steven Keathley, the National Technology Leader of Deloitte Growth Enterprise Services (DGES), is quoted to have said that IT is becoming more important as a driving force for technology and rather than simply acting as a support function for businesses. In the report, Harvey Michaels, the national consulting leader for the DGES, is quoted to have said that technology is speeding up the growth of smaller companies and becoming a differentiating feature in the middle market.

The survey was conducted in June and July this year, and was aimed at 500 US middle market company executives with annual revenues of $100 million to $1 billion. Almost 90% of middle market companies responded to the Deloitte survey using some form of Virtual or Augmented Reality, and 19% of respondents said they are spending more money on technology in 2016 than in previous years.

Out of the companies currently developing IoT projects, half of them said they are using hybrid cloud monitoring, and a similar number are using smart industrial devices. In addition, 54% of companies said that security is one of their main reasons for investing in cloud technology.

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